Biocept Highlights Recent Progress and Outlines Near-Term Strategic Priorities in CEO Letter to Stockholders
To our stockholders and friends:
I'm pleased to provide an update on our recent progress at
In support of our corporate objectives we entered into notable transactions with two global leaders in their respective fields. First, in February we announced a commercial and technology development partnership with
Second, we entered into a distribution agreement with global laboratory products supplier
Our initiatives to support organic growth include the launch of the first phase of the innovative Empower TC™ program that directly involves community pathologists in the interpretation of our liquid biopsy test results. Pathologists are often the first to know when a tissue biopsy is inadequate for molecular profiling and integrating these professionals into the process provides added incentive to work with
Collaborating with a range of medical institutions to further validate our tests has long been a priority. We were pleased to be selected by the
We are also executing on various other initiatives, as well. This includes expanding our test portfolio, as evidenced by the recent introduction of an assay for mutations of the NRAS oncogene associated with multiple cancer types. This assay increases the number of CLIA-certified biomarker tests
Lastly, we are benefitting from growing recognition within our industry of the valuable information that a liquid biopsy provides. Earlier this year evidence-based guidelines were introduced recommending the use of liquid biopsy in patients with non-small cell lung cancer as a first-line diagnostic tool when tissue samples are inadequate and for monitoring for therapeutic resistance. These guidelines were issued collaboratively by the
Keeping
Our plan for the remainder of the year is to execute on business priorities aimed at increasing our commercial test volume and revenues, as follows:
- Entering into strategic partnerships in the U.S. and internationally;
- Capitalizing on the newly issued industry guidelines to support the use of liquid biopsy for patients with lung cancer;
- Advancing our collaboration with
Thermo Fisher Scientific to grow our business in the pharmaceutical sector; - Expanding our Empower TC™ agreements to additional pathology groups and major hospital systems;
- Signing new third-party health plan contracts and agreements with integrated healthcare delivery networks;
- Introducing new actionable biomarker assays; and
- Presenting additional data in order to further validate the use of our Target Selector™ assays.
We are making considerable progress in establishing our tests as the standard-of-care in liquid biopsy. Importantly, we are vigilant in our mission of providing critical information to physicians that improves the outcomes for patients with cancer. On behalf of our Board of Directors and my colleagues at
Sincerely,
President and Chief Executive Officer
About
Forward-Looking Statements Disclaimer Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. To the extent that statements in this release are not strictly historical, including without limitation statements as to our ability to improve the diagnosis and treatment of cancer, our ability to increase our commercial test volume and revenues, the commercial success of our partnership with
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Investor Contact: LHA Investor Relations, Jody Cain, Jcain@lhai.com, 310-691-7100; Media Contact: Trevelino/Keller, Colleen Murphy, cmurphy@trevelinokeller.com, 404-214-0722, Ext. 109