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.
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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.