Biocept Inc. shares fell 9.33% today, and reports results that are economic the 3 and 12 months ended December 31, 2020 and provides a small business improvement.
“I’m extremely happy with the Biocept group for his or her passion and commitment in giving support to the assessment that is COVID-19 of our community while advancing our oncology company for a strong post-pandemic future,” stated Michael Nall, President and CEO of Biocept. “Our COVID-19 assessment has provided valuable information to your customers, which includes helped contain spread that is viral.
We received about 140,000 samples for COVID-19 evaluating throughout the quarter that is fourth, despite having the moving of our corporate head office and CLIA laboratory, all of us offered almost all COVID-19 test results to wellness providers within 48 hours of getting the sample.
“Our financial outcomes for the quarter that is fourth our team’s success with profits reaching $18.5 million, resulting in our first-ever profitable quarter,” he included. “Our capacity to produce greater profits in recent quarters due to testing that is COVID-19 paid down our money burn in 2020, although we continued to deliver exemplary service for our oncology and COVID-19 clients, Meta News reports.
“The focus of our oncology business moving forward is obviously on our neuro-oncology strategy and fluid that is cerebrospinalCSF) assay,” he included. “This assay uniquely addresses a top unmet need that is medical identifying metastatic progression of cancer tumors to your central nervous system and brain. Around 10% to 30% of patients diagnosed with cancer, based on tumefaction type, will ultimately experience spread of the illness to your main system that is nervous.
Pilot research reports have shown our CSF assay become much more sensitive and painful than old-fashioned CSF cytology, the existing standard of care, in detecting lung and breast cancer who has metastasized towards the brain or main system that is nervous. Our CSF assay has got the added advantages of determining actionable molecular targets that provide physicians with valuable information in making therapy decisions, in addition to providing information that is quantitative monitoring treatment reaction and infection progression. Biocept Inc. shares fell 9.33% today.