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Biocept

The company has previously offered its liquid biopsy tests through an LDT model but sees the timing and the clinical niche as right for a regulatory bid in CSF testing.

The firm's fourth quarter revenues included $18.3 million in commercial test revenue, of which $17.6 million was attributable to COVID-19 tests.

The test uses a technology called Switch-Blocker that is co-owned by the companies and enables both viral detection and strain discrimination.

The partners will research the ability of Biocept's Target Selector molecular assay to determine EGFR status in non-small cell lung cancer patients.

The company highlighted efforts to expand the use of its tests in the analysis of cerebrospinal fluid, an area in which research collaborations have begun to yield some data.

Despite the dramatic growth in overall testing revenue, the company's core oncology testing revenue dropped significantly quarter-over-quarter.

After a two-year evaluation in advanced non-small cell lung cancers with Allegheny Health Network, the payor will cover the test for its regional members.

The company's stock will now trade on a split-adjusted basis on the Nasdaq after authorization for the split was approved by stockholders.

Although the firm has ramped up COVID-19 testing, its billable test volume and overall testing revenues both declined due to pandemic-related challenges to its core oncology business.

The firms are using the technology, previously employed by Biocept exclusively for blood-based cancer testing, to develop a highly sensitive COVID-19 diagnostic.

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