Skip to main content
Premium Trial:

Request an Annual Quote

Biocept to Lay Off 35 Percent of Staff, Explore Strategic Alternatives

NEW YORK – Liquid biopsy firm Biocept said Friday that it is exploring strategic alternatives to enhance shareholder value, and has engaged EF Hutton, a division of Benchmark Investments, as its financial adviser.

As this process moves forward, the firm is implementing a restructuring plan that includes reducing staff by approximately 35 percent.

According to the company, potential strategic alternatives could include an acquisition, merger, reverse merger, other business combination, sales of assets, licensing, or other strategic transactions, but Biocept cautioned there is no guarantee of success. The company projects a year-end 2022 cash balance of approximately $13 million compared to $28.9 million at the end of 2021.

"We remain excited by the potential of CNSide as a first-in-class cerebrospinal fluid assay for patients with central nervous system metastasis. … However, we must preserve our remaining resources to extend our cash runway to better explore strategic alternatives that can benefit shareholders. We plan to continue to explore a variety of opportunities to advance this assay," Samuel Riccitelli, Biocept's interim president and CEO, said in a statement.

The Scan

Drug Response Variants May Be Distinct in Somatic, Germline Samples

Based on variants from across 21 drug response genes, researchers in The Pharmacogenomics Journal suspect that tumor-only DNA sequences may miss drug response clues found in the germline.

Breast Cancer Risk Gene Candidates Found by Multi-Ancestry Low-Frequency Variant Analysis

Researchers narrowed in on new and known risk gene candidates with variant profiles for almost 83,500 individuals with breast cancer and 59,199 unaffected controls in Genome Medicine.

Health-Related Quality of Life Gets Boost After Microbiome-Based Treatment for Recurrent C. Diff

A secondary analysis of Phase 3 clinical trial data in JAMA Network Open suggests an investigational oral microbiome-based drug may lead to enhanced quality of life measures.

Study Follows Consequences of Early Confirmatory Trials for Accelerated Approval Indications

Time to traditional approval or withdrawal was shorter when confirmatory trials started prior to accelerated approval, though overall regulatory outcomes remained similar, a JAMA study finds.