Biocept climbs on plan to cut jobs, explore options

Biocept

06/01/2023 12:54

** Shares of U.S.-based Oncology diagnostics company Biocept
 BIOC.O  up 17.7% at 65 cents before the bell
    **Co to explore strategic alternatives including
acquisition, merger, reverse merger, other business
combinations, sales of assets
    **Implementing restructuring plan, which includes workforce
reduction by ~35%
    **Expects year-end 2022 cash balance to be about $13 million
    **BIOC stock fell about 85.4% in 2022
 (Reporting by Saikeerthi in Bengaluru)
 ((saikeerthi@thomsonreuters.com))