Shares of a leading provider of molecular diagnostic assays, products, and services Biocept Inc. (NASDAQ: BIOC) were rising 3.83% to trade at $5.15 in premarket trading at the time of the last check. In Tuesday’s session, Biocept stock closed at $4.96, down -2.17%. In contrast to the 0.48 million shares of average daily volume, BIOC stock volume remained at 0.23 million shares. News of the supply COVID-19 testing is driving BIOC stock up.
News in brief:
In addition to developing and commercializing molecular diagnostic assays, Biocept also provides physicians with clinically actionable information for diagnosing and treating patients diagnosed with a variety of cancers. Furthermore, BIOC has developed a cerebrospinal fluid assay that detects cancer cells that have spread to the central nervous system, the CNSide cerebrospinal fluid assay.
More than 2.1 million students and more than 116 California community colleges will be able to take COVID-19 tests, thanks to a partnership between Biocept and the Foundation for California Community Colleges announced today.
- Community colleges can now purchase BIOC’s PCR-based COVID-19 test for students, faculty, and staff through the Foundation’s CollegeBuys program.
- Test results will be accessible to the campus population to help protect their safety.
- It will reduce the spread of the virus on campus as well as in surrounding communities.
- The move will also help colleges return to the traditional setting from remote learning adopted as a result of the COVID-19 pandemic.
How will it work?
By combining PCR and COVID-19 testing, Biocept (BIOC) offers colleges CLIA-certified, and CAP-accredited San Diego laboratory services. Typically, results are available within 48 hours of BIOC receiving the sample, reducing lengthy turnaround times which will be administered by a health care provider using a nasal or oral swab.