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Here’s Why Biocept Share Price Rallied 36.2% Higher Today

Simon Mugo trader
Updated 6 Aug 2020

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Biocept

Shares of Biocept (NASDAQ: BIOC) a US provider of molecular technologies to clinicians today rallied 36.2% high rafter the company unveiled an agreement with Aegea Biotechnologies to develop a highly sensitive PCR-based assay designed by Aegea for detecting the COVID-19 virus.

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The COVID-19 PCR assay is built on the core Switch-Blocker technology developed by Biocept and used in its suite of ultra-sensitive oncology-focused assays.

Michael Nall, President and CEO of Biocept commented that: “This project further expands on Biocept’s initiatives in the COVID-19 PCR testing market and highlights our capabilities to develop high-complexity molecular-based assays based on our core Switch-Blocker technology for multiple applications, including potentially COVID-19.”

Stella M. Sung, Ph.D., Chief Business Officer of Aegea explained that: “Working with Biocept better enables the potential rapid development of this new PCR-based COVID-19 assay. Biocept has successfully utilized Switch-Blocker technology to test for rare oncology-related genetic mutations in tens of thousands of clinical samples.”

Biocept share price

Tradingview chart of Biocept share price 06082020

 

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading