The company had $1.1 million in revenue during the quarter, a 10 percent increase year over year despite what the firm said was a 15 to 20 percent sales reduction due to recent hurricanes.
The Target Selector technology is designed to analyze both circulating tumor cell and circulating tumor DNA biomarkers from a blood sample.
Investigators will use Biocept's liquid biopsy tests to detect ALK rearrangements both at baseline and to monitor treatment response and resistance mechanisms.
VWR will act as the exclusive distributor for Biocept's liquid biopsy blood collection tubes everywhere in the world except China.
The liquid biopsy firm ran 1,405 tests in the second quarter and made progress on collecting payment from third-party health plans.
Biocept is also working with the buyer — a Hong Kong-based investment group — to explore strategic opportunities in China.
The company's total revenues were $1.7 million, including $897,000 in commercial testing revenue. Its test volume was up 38 percent.
Biocept's Target Selector liquid biopsy platform is designed to analyze both circulating tumor cell and circulating tumor DNA biomarkers from a blood sample.
OHSU was granted the rights to offer Biocept's Target Selector liquid biopsy testing services in Oregon as part of the deal.
The company said it expects to net around $8.4 million, which it will use for working capital and general corporate purposes.
The New York Times looks at companies using genomic tools to try to quickly identify the cause of patients' infections.
The White House has asked for $2.5 billion in funding to address the COVID-19 outbreak, according to the Associated Press.
A resignation at the Marine Biological Laboratory highlights that institutions are unsure of how to handle researchers previously found to have violated codes of conduct, Nature News says.
In PNAS this week: immune responses that affect heart transplant rejection risk, gene variants associated with thiopurine toxicity, and more.