Why Is Cancer Diagnostic Focused Biocept Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Biocept Inc (BIOC) shares are trading higher after the company signed a non-exclusive licensing agreement for CNSide with Plus Therapeutics Inc (PSTV). The agreement expands the laboratory services agreement between the two companies. Plus Therapeutics is using CNSide in a clinical trial to treat patients with carcinomas and/or melanomas. Plus will pay Biocept an upfront fee of $150,000 in stock, plus $6,000 per CSF tumor cell enumeration analysis performed in Biocept's laboratory before the completion of the technology transfer.
September 08, 2023 | 1:18 pm
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POSITIVE IMPACT
Biocept's stock is trading higher due to the non-exclusive licensing agreement with Plus Therapeutics. The upfront payment and ongoing fees from Plus will likely boost Biocept's revenues.
The licensing agreement with Plus Therapeutics is a positive development for Biocept. The upfront payment and ongoing fees will likely increase Biocept's revenues, which is a positive signal for investors and could lead to a higher stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Plus Therapeutics is using Biocept's CNSide in a clinical trial, which could potentially lead to positive outcomes and boost Plus's stock.
The use of Biocept's CNSide in Plus Therapeutics' clinical trial could potentially lead to positive outcomes. If the trial is successful, it could boost Plus's stock as it would be a positive signal for investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80