Biocept Expands Its Blood Test For Breast Cancer - And Lung Cancers

Shares of Biocept (BIOC) were up almost 46% premarket after the company reported that it has expanded its indications for a blood test for multiple types of cancer. The two new blood test indication the company has added are for Breast Cancer and Lung cancers. In terms of Lung cancers that includes both non-small cell lung cancer -- NSCLC -- and small cell lung cancer. By noon the stock had settled at about 6% over yesterday's close.

To accomplish this Biocept has launched its FGFR1 amplification test to help improve detection in both of these types of cancers. This test helps identify key biomarkers in patients, which may help physicians determine what types of treatments patients will respond to with the type of cancer that they have. The company has stated that the FGFR1 pathway is the driver for uncontrolled cancer cell growth. Because of this the company currently has many trials underway that are specifically targeting this pathway. 

Typically small cell lung cancers account for about 10% to 15% of all lung cancers and have a 5-year survival rate when patients are diagnosed. The reason for the poor survival rate for small cell lung cancer is that  it is typically diagnosed after the cancer has metastasized and spread to other parts of the body. By that time, treatment options are tough and even more limited because the cancer has spread too much. 

Biocept's announcement means that now blood-based testing - a "liquid biopsy" - can be used instead of more cost- and labor-intensive, and more invasive, tissue biopsies.