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Biocept Prices $10.3M Direct Offering of Shares

NEW YORK – Biocept said on Tuesday that it has entered into a securities purchase agreement with several institutional investors for the issuance and sale of 22.3 million shares of its common stock at a price of $0.46 per share, for aggregate gross proceeds of approximately $10.3 million, in a registered direct offering.

Maxim Group is acting as the sole placement agent for the offering, which is expected to close on or about April 16.

The offering follows on the heels of the company's announcement last week that it had validated Thermo Fisher Scientific's TaqPath SARS-CoV-2 assay in its lab and would begin accepting samples for pandemic testing. The US Food and Drug Administration granted Emergency Use Authorization for the Thermo Fisher kit last month.