Benzinga | Feb 23, 2021 12:35PM EST

Biocept Inks Research Pact With Protean BioDiagnostics For Target Selector Kit Advantages In Lung Cancer

* Biocept Inc (NASDAQ: BIOC) will collaborate with Protean BioDiagnostics Inc to research Biocept's Target Selector molecular assay's ability to determine EGFR status in non-small cell lung cancer (NSCLC) patients.

* The research will be conducted in an independent pathology laboratory setting.

* Protean BioDiagnostics also expects to validate a laboratory-developed test's analytical performance based on Biocept's EGFR assay test kit.

* Biocept's molecular assay kit, available for research-use-only and with CE-IVD mark, is used to analyze both formalin-fixed paraffin-embedded tissue samples and circulating tumor DNA from biological fluids.

* The molecular assays have been validated to detect frequent oncogenic mutations EGFR, KRAS, and BRAF, which are the most frequently evaluated biomarkers for lung cancer and melanoma.

* Price Action: BIOC stock is down 9.2% at $6.5 in market trading hours on the last check Tuesday.