logo-loader
viewBiocept Inc

Biocept unveils second contract for its assay services with California independent physician association

In February this year, the San-Diego based company announced an agreement with another undisclosed independent physician association in the same US state

Biocept Inc -
Michael Nall, Biocept's President and CEO, said: "We are pleased to reach an agreement with a second large California-based IPA, this one in the southern part of the state, to provide liquid biopsy services for patients diagnosed with cancer"

Biocept Inc (NASDAQ: BIOC), the cancer-focused diagnostic group, has struck a deal with a second California-based independent physician association (IPA) to provide its liquid biopsy assay services to doctors and patients in its network.

The latest deal comes after, in February this year, the San-Diego based company announced an agreement with another undisclosed independent physician association in the same US state.

As part of the tie-up, the firm revealed it will offer the association an array of cancer-detection tools such as biomarker tests as well as a liquid biopsy panel to help its physicians cater to their patients.

READ: Biocept posts sixth consecutive growth quarter thanks to increase in commercial test volume

Today, Michael Nall, Biocept's President and CEO, said: "We are pleased to reach an agreement with a second large California-based IPA, this one in the southern part of the state, to provide liquid biopsy services for patients diagnosed with cancer.

"Our offerings provide evidence-based, clinically actionable results in a timely and cost-effective manner. This approach has been resonating with IPAs, ACOs, HMOs and other value-oriented stakeholders alike, and we look forward to further expanding our reach within our home state of California."

Biocept's so-called Target Selector offering includes the choice of individual biomarker tests or a larger liquid biopsy panel, enabling physicians to select the best approach for each patient, the firm said.

Another record quarter

Earlier this month, Biocept posted another record quarter  - its sixth consecutive quarter of growth - as the company saw an increase in test volume.

The biotech firm delivered revenue of $1.8 million during the fourth quarter of 2019, an increase of 108% over the same period last year.

The gain was largely driven by commercial revenue, up 94% compared to 4Q 2018 and 11% over the previous quarter in 2019.

Contact the author at [email protected]

Quick facts: Biocept Inc

Price: 0.7031 USD

NASDAQ:BIOC
Market: NASDAQ
Market Cap: $92.18 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Biocept Inc named herein, including the promotion by the Company of Biocept Inc in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Biocept to provide coronavirus test kits, will cover out-of-network patients...

Biocept Inc (NASDAQ:BIOC) CEO Mike Nall and CFO Tim Kennedy tell Proactive the California-based firm has solved supply chain problems of obtaining 10,000 testing kits to provide coronavirus test to patients. Separately, Nall says the firm has agreed to a managed care provider agreement with...

2 weeks ago

2 min read