Biocept, Inc. (BIOC) Bundle
A Brief History of Biocept, Inc. (BIOC)
Company Formation and Early Years
Biocept, Inc. was founded in 2011, focusing on developing and commercializing innovative diagnostic solutions for physicians and patients in the fight against cancer.
Key Technologies and Products
Biocept specializes in liquid biopsy technology, used to detect cancer biomarkers in blood samples. The company's primary products include:
- Target Selector™ – A proprietary methodology used to capture and analyze circulating tumor cells (CTCs).
- OncoCEE™ – A platform designed to provide comprehensive cancer profiling.
- Biocept's assays – Designed for various cancers, including breast, lung, and colorectal.
Public Offering and Financial Background
Biocept became a publicly traded company listed on the NASDAQ under the ticker symbol BIOC in 2013. The initial public offering (IPO) raised approximately $30 million, allowing for further research and development.
Recent Financial Data
As of the end of Q2 2023, Biocept reported the following financials:
| Financial Metric | Q2 2023 | Q2 2022 |
|---|---|---|
| Revenue | $2.1 million | $1.5 million |
| Net Loss | ($5.3 million) | ($4.8 million) |
| Cash and Cash Equivalents | $12.5 million | $15.3 million |
| Total Assets | $20.6 million | $22.1 million |
Research Collaborations and Partnerships
In its quest to advance its technology, Biocept has established partnerships, including collaborations with leading institutions and oncology centers. Notable partnerships include:
- The collaboration with the University of California, San Diego, to enhance liquid biopsy applications.
- Partnerships with pharmaceutical companies for companion diagnostics.
Market Presence and Growth Strategy
Biocept aims to expand its market presence by targeting diagnostic markets in oncology and developing new assays. The company's strategic plans involve:
- Enhancing commercial capabilities and expanding sales teams.
- Continuous investment in R&D for innovative diagnostic solutions.
Challenges and Regulatory Landscape
Operating in a highly competitive and regulated environment poses challenges for Biocept, particularly in terms of:
- Navigating FDA approval processes for new diagnostics.
- Competing with established players in the liquid biopsy market.
Recent Developments and Future Outlook
In 2023, Biocept announced plans to expand its product pipeline and enhance customer engagement strategies. The company continues to analyze market trends and invest in technology to stay ahead in the diagnostic landscape.
A Who Owns Biocept, Inc. (BIOC)
Shareholder Composition
As of the latest filings, Biocept, Inc. (BIOC) has a diverse shareholder base consisting of institutional investors, retail investors, and company insiders. The details are as follows:
| Type of Shareholder | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 45% | 9,600,000 |
| Retail Investors | 35% | 7,400,000 |
| Insiders | 20% | 4,300,000 |
Major Institutional Investors
Among the institutional investors, several key players hold significant stakes in Biocept:
| Institution Name | Shares Held | Percentage Ownership |
|---|---|---|
| BlackRock, Inc. | 1,200,000 | 5.5% |
| Vanguard Group, Inc. | 1,000,000 | 4.6% |
| State Street Corporation | 800,000 | 3.6% |
| Geode Capital Management, LLC | 500,000 | 2.3% |
Insider Ownership
The following key executives and board members hold shares in Biocept, contributing to the insider ownership:
| Name | Position | Shares Owned |
|---|---|---|
| Michael Nall | President & CEO | 1,500,000 |
| Dr. William Annett | Chief Medical Officer | 800,000 |
| R. Scott R. Jones | Chairman | 600,000 |
Stock Performance and Market Capitalization
As of the last trading session, Biocept's stock reflects its market position:
- Current Stock Price: $1.50
- Market Capitalization: $32.5 million
- 52-week Range: $1.20 - $3.00
Recent Financial Highlights
Biocept reported its quarterly financial results for Q3 2023 with the following key metrics:
| Metric | Current Quarter | Previous Quarter |
|---|---|---|
| Total Revenue | $2.1 million | $1.5 million |
| Net Loss | $(3.6) million | $(2.8) million |
| Cash & Cash Equivalents | $6.5 million | $7.2 million |
Regulatory Filings and Ownership Reporting
Biocept adheres to regulatory guidelines for shareholder reporting and files with the SEC regularly. The most recent Form 10-K was filed on March 1, 2023, disclosing:
- Total Shares Outstanding: 21,000,000
- Average Daily Trading Volume: 250,000 shares
Biocept, Inc. (BIOC) Mission Statement
Core Mission
The mission of Biocept, Inc. is to provide innovative clinical diagnostic solutions that enable clinicians to make informed decisions in the management of cancer patients. The company focuses on non-invasive liquid biopsy technologies aimed at improving patient outcomes through the detection and monitoring of cancer-associated biomarkers.
Financial Overview
As of the most recent quarterly filing in September 2023, Biocept reported the following financial data:
| Financial Metric | Q3 2023 (in millions) | Q2 2023 (in millions) | Q1 2023 (in millions) |
|---|---|---|---|
| Total Revenue | $1.5 | $1.3 | $1.1 |
| Net Loss | ($3.2) | ($2.9) | ($2.8) |
| Cash and Cash Equivalents | $5.5 | $6.0 | $6.5 |
| Total Assets | $10.0 | $10.5 | $11.0 |
| Total Liabilities | $3.0 | $3.2 | $3.5 |
Strategic Objectives
Biocept aims to achieve the following strategic objectives to fulfill its mission:
- Enhance the accuracy and reliability of its liquid biopsy tests.
- Expand partnerships with healthcare providers and research institutions.
- Increase market penetration for cancer diagnostics.
- Drive innovation in biomarker detection and analysis.
Recent Developments
In 2023, Biocept launched several initiatives to enhance its service offerings, including:
- The introduction of a new liquid biopsy test for early detection of lung cancer.
- Partnerships with leading oncology centers for clinical trials.
- Improvements in operational efficiencies to reduce costs and enhance patient access.
Market Position
As of October 2023, Biocept holds a significant position within the liquid biopsy market, which is projected to reach approximately $5.5 billion by 2028, with a CAGR of about 23.3% from 2021 to 2028. Biocept's share of this market is focused on integrating advanced technologies in cancer diagnostics.
Share Performance
The stock performance of Biocept, Inc. (BIOC) as of October 2023 is as follows:
| Metric | Value |
|---|---|
| Current Stock Price | $0.70 |
| Market Capitalization | $25 million |
| 52-Week Range | $0.55 - $1.20 |
| P/E Ratio | N/A |
Commitment to Innovation
Biocept continually invests in research and development to enhance its product offerings:
- Approximate R&D expenditure for 2023: $1.0 million.
- Collaboration with technology partners for the development of new assays.
- Focus on expanding the range of detectable biomarkers relevant to various cancers.
Community Engagement
Biocept is dedicated to community outreach and education, focusing on the following initiatives:
- Hosting educational webinars for oncologists and healthcare professionals.
- Participating in cancer awareness campaigns.
- Collaborating with patient advocacy groups to enhance patient education on liquid biopsies.
How Biocept, Inc. (BIOC) Works
Business Overview
Biocept, Inc. (BIOC) is a molecular diagnostics company specializing in cancer detection and monitoring through the use of its proprietary technology. The core of its operations involves the development of liquid biopsy tests that analyze circulating tumor cells (CTCs) and circulating tumor DNA (ctDNA) from patient blood samples, providing valuable information for personalized treatment approaches.
Technology and Methods
Biocept's technology focuses on non-invasive methods for cancer diagnosis and monitoring. The following tests are central to its offerings:
- Target Selector™: A platform that enables the capture and analysis of CTCs and ctDNA.
- OncoCEE™: Tests specifically designed for various solid tumors, including breast cancer, lung cancer, and more.
- NeoLAB™: A clinical laboratory developed test aimed at analyzing genetic mutations.
Financial Performance
As of the second quarter of 2023, Biocept reported total revenues of approximately $3.1 million, compared to $1.9 million during the same period in 2022, reflecting an increase of over 63% year-over-year.
| Quarter | 2023 Revenue (in $ millions) | 2022 Revenue (in $ millions) | Year-over-Year Growth (%) |
|---|---|---|---|
| Q1 | 2.2 | 1.5 | 46.67 |
| Q2 | 3.1 | 1.9 | 63.16 |
Research and Development
Biocept invests significantly in research and development to enhance its diagnostic capabilities. For the fiscal year 2022, R&D expenses were approximately $2.5 million, reflecting a focus on innovation aimed at expanding its product portfolio.
Market Position
Biocept operates in a competitive market, with a focus on increasing its share in the liquid biopsy sector. The global liquid biopsy market was valued at approximately $3.5 billion in 2022 and is projected to grow at a CAGR of 23.8% from 2023 to 2030.
Regulatory Approvals
Biocept's tests have received CE marking approval in Europe, enabling them to be marketed for diagnostic use across European Union countries. Regulatory pathways remain a critical aspect of the company's strategy.
Collaborations and Partnerships
Biocept has engaged in various collaborations to enhance its diagnostic offerings. Notably, partnerships with research institutions and clinical practices have facilitated clinical validation of its tests.
Future Outlook
The company is focused on expanding its test menu and enhancing the sensitivity and specificity of its assays. Biocept aims to capture a larger patient population by creating broader clinical utility for its diagnostics.
How Biocept, Inc. (BIOC) Makes Money
Revenue Streams
Biocept, Inc. primarily generates revenue through its liquid biopsy tests, which are designed to detect cancer-related biomarkers in blood samples. The company offers two main types of tests:
- OncoCEE™ Tests
- Target Selector™ Tests
OncoCEE™ Tests
OncoCEE™ tests are designed for specific cancers, allowing for targeted treatment options. As of the latest financial reports, Biocept has provided OncoCEE™ tests for various types of cancer:
| Cancer Type | Test Price (USD) | Tests Sold (Q3 2023) | Total Revenue (USD) |
|---|---|---|---|
| Breast Cancer | 3,000 | 250 | 750,000 |
| Colorectal Cancer | 3,000 | 180 | 540,000 |
| Non-Small Cell Lung Cancer | 3,000 | 150 | 450,000 |
| Prostate Cancer | 3,000 | 120 | 360,000 |
Target Selector™ Tests
The Target Selector™ platform further enhances revenue potential by identifying actionable mutations in cancer. Each test is priced similarly to OncoCEE™ tests. The following data is from Q3 2023:
| Mutation Type | Test Price (USD) | Tests Sold (Q3 2023) | Total Revenue (USD) |
|---|---|---|---|
| EGFR | 3,000 | 300 | 900,000 |
| ALK | 3,000 | 200 | 600,000 |
| KRAS | 3,000 | 175 | 525,000 |
| BRAF | 3,000 | 100 | 300,000 |
Partnerships and Collaborations
Biocept leverages partnerships with various healthcare providers, hospitals, and research institutions. These collaborations not only enhance test distribution but also contribute to incremental revenue. In Q3 2023, partnerships generated approximately 2 million USD from joint research and development initiatives.
Financial Performance Overview
In the third quarter of 2023, Biocept reported a total revenue of 4.3 million USD, which represents a year-over-year increase of 25% from Q3 2022. The breakdown of revenue sources is as follows:
| Revenue Source | Amount (USD) | Percentage of Total Revenue (%) |
|---|---|---|
| OncoCEE™ Tests | 2,250,000 | 52.3 |
| Target Selector™ Tests | 2,350,000 | 54.7 |
| Partnerships and Collaborations | 700,000 | 16.3 |
Market Trends and Growth Potential
The liquid biopsy market is projected to reach 30 billion USD by 2025, growing at a compound annual growth rate (CAGR) of approximately 25%. Biocept's innovative testing solutions position it to capitalize on this growth, enhancing its revenue potential.
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