Biocept, Plus Therapeutics rises on licensing deal for cancer treatment

Biocept

08/09/2023 14:02

** Biocept  BIOC.O  shares more than double to $1.70 before
the bell after signing licensing deal with Plus Therapeutics
 PSTV.O  
    ** PSTV shares also up 12.1% at $3.33 premarket
    ** BIOC says licensing deal will allow PSTV to use its
CNSide test in a trial for its experimental treatment of a type
of cancer that occurs in the membranes that surround the brain
and spinal cord 
    ** CNSide test detects and quantifies tumor cells in
cerebrospinal fluid in patients
    ** PSTV will issue $150,000 worth of its common stock to
BIOC in exchange
    ** Prior to Jan 1, 2025 PSTV will also have option to
negotiate exclusivity with third parties for radiotherapy
developed under agreement, with a potential $1 mln payment for
BIOC
    ** Up to last close, shares of Biocept down 94.7% and shares
of Plus Therapeutics down 37.5% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))