Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Biocept sheds a fifth of its value after announcing stock offer

Friday, October 14, 2016 8:23
% of readers think this story is Fact. Add your two cents.

Shares in Biocept Inc (NASDAQ:BIOC), a molecular diagnostics company, predictably tumbled as it announced a heavily discounted stock offering.

The shares lost more than a fifth of their value at US$0.9301 as the company unveiled plans to raise US$10mln through the issue of 9.1mln shares plus accompanying warrants, at US$1.10 a throw.

The warrants are also exercisable at US$1.10, 7.69 cents below last night’s closing price.

The company declined to say what the funds it is raising would be used for. It uses its proprietary liquid biopsy technology to provide physicians with information for treating and monitoring patients diagnosed with cancer.

The company’s patented Target Selector liquid biopsy technology platform captures and analyzes tumor-associated molecular markers in both circulating tumor cells and in plasma; with thousands of tests performed, the platform has demonstrated the ability to identify cancer mutations and alterations to inform physicians about a patient’s disease and therapeutic options, Biocept said.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.