Biocept down on delay in commercialization of COVID-19 test

Biocept

22/11/2021 16:19

** Shares of oncology diagnostics co  BIOC.O  fall 3.9% to
$3.41
    ** Co says commercialization of COVID-19 test kit developed
with AEGEA Biotechnologies will be delayed due to newly
announced changes to U.S. FDA requirements https://www.fda.gov/news-events/press-announcements/coronavirus-covid-19-update-fda-updates-test-policies-help-ensure-accuracy-and-reliability-tests-and
 for laboratory-developed COVID-19 tests (https://refini.tv/3DNOUpK)
    ** Cos entered into a supply agreement in March
    ** Separately, BIOC launched test that can detect and
distinguish between SARS-CoV-2 and influenza 
    ** Combined test uses nasal swabs with results typically
within about 48 hours from receipt of sample
    ** Stock has lost ~24% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))