Biocept Inc (NASDAQ:BIOC) has announced a new addition to its oncology testing portfolio, the c-MET Biomarker. The test is designed to identify circulating tumor DNA and tumor cells, utilizing liquid biopsy of blood samples. The test is aimed at identifying patients who are receptive of cancerous cells. The test especially targets those who may develop lung cancer.
As per the research conducted by the company, c-MET signaling pathways tend to become dysfunctional in certain types of cancers. This tends to make c-MET pathways stimulators of cell growth. Consequently, this leads to cell overpopulation and can lead to tumors. This is also why the pathway has been under considerable research for developing cancer treatments.
Analysts have also put their trust in Biocept. Many have stated that the stock seems to be on the right path and the future of the company seems favorable. The company had reported a good FY2014 and the next earning update is due on March 12. If the outcome remains favorable the Biocept could move to its 52-week high. Zack’s has already placed the stock as the second best buy.
Biocept had initially reported no revenues and a market cap of only $39.8 million. However, the present year has seen a number of developments from the company, especially with regard to its products for Biomarker analysis. With a quickly expanding portfolio, it is no wonder that analysts are mostly going in favor of the stock. Not only is the company’s portfolio expanding, but it has also reported success with its products for the detection of breast cancer.
In fact, the rise in share value came after the company announced success with products relating to breast cancer. However, the success had retreated after pushing the stock up for a while. Fortunately, successive news about new products and additions have brought the upward trend back.
Biocept Inc (NASDAQ:BIOC) closed at $3.09 after gaining 11.55% on May 4. The company has 15.97 million shares being traded in the market, with a 52-week range of $1.09-$7.72.