An increase in testing volume drove revenue growth in the quarter, though net loss also increased due to expenses associated with marketing and performing tests.
The partners will explore the use of Biocept's liquid biopsy technology to identify and detect biomarkers in ER-positive breast cancer patients.
Researchers and commercial vendors highlighted new data and clinical utility, but also discussed challenges in validating and establishing liquid biopsy diagnostics.
The CTC-based oncology diagnostics firm raised $15.6 million in net proceeds from a public offering of its securities in February.
The firm saw its revenues more than quadruple year over year to $150,000, mainly due to expansion of its commercial liquid biopsy testing business.
The partners hope to demonstrate the clinical utility of Biocept's liquid biopsy technology in improving the care of NSCLC patients.
In 2014 the firm launched a new lung cancer liquid biopsy test and hired a sales and marketing team. The firm also saw a large increase in R&D costs.
The firm said in an SEC document that it plans to offer up to $11.5 million in its common shares and up to $11.5 million in common stock issuable upon the exercise of warrants.
The deal centers around ALK, a gene involved in signal transduction and a therapeutic target for non-small cell lung cancer.
The non-invasive, blood-based circulating tumor cell and circulating tumor DNA cancer tests will be made available to 19 million patients.
CBS This Morning highlights recent Medicare fraud involving offers of genetic testing.
Researchers find that many cancer drugs in development don't work quite how their developers thought they did, as Discover's D-brief blog reports.
Mariya Gabriel, a Bulgarian politician, is to be the next European Union research commissioner, according to Science.
In Science this week: a survey indicates that US adults are more likely to support the agricultural use of gene drives if they target non-native species and if they are limited, and more.