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Biocept

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. 

The company launched a blood-based diagnostic to guide treatment strategies for lung cancer patients with ALK fusions who don't have sufficient tumor biopsy material for analysis by tissue-based tests.

NEW YORK (GenomeWeb) – Biocept reported today that its third quarter net loss increased 34 percent year over year, as the firm expanded initiatives in its fledgling oncology diagnostics business.

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