Shares of Biocept (NASDAQ: BIOC) are up 15% on word the molecular diagnostics company has obtained an in-network provider agreement with Blue Cross Blue Shield of Texas (BCBSTX). The company views the achievement as a milestone in expanding coverage for its Target Selector™ platform, as BCBSTX is the largest provider of health benefits in Texas. “Partnering with health insurers is a major focus of our business strategy, as it may increase physician access to this non-invasive technology for their patients and provide timely adjudication of claims for patients. Securing this in-network agreement is an important milestone for Biocept, as Texas is one of our largest markets and BCBSTX is the largest provider in that state. With this agreement, the number of patients with in-network access to our tests has grown to approximately 185 million, with some members having access via multiple plans,” Michael Nall, president and CEO of Biocept stated in the news release.
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About Biocept
Biocept, Inc. is a molecular diagnostics company with commercialized assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma. The company uses its proprietary liquid biopsy technology to provide physicians with information for treating and monitoring patients diagnosed with cancer. The company’s patented Target Selector™ liquid biopsy technology platform captures and analyzes tumor-associated molecular markers in both circulating tumor cells (CTCs) and in plasma (ctDNA). With thousands of tests performed, the platform has demonstrated the ability to identify cancer mutations and alterations to inform physicians about a patient’s disease and therapeutic options. For additional information, please visit www.biocept.com.
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