On Thursday, Biocept Inc (NASDAQ:BIOC) stock opened its trade at $2.13 and after floating in a range of $1.94 to $2.28, settled at $2.19. The stock gained 29.59% in total of its share price. The stock’s 52-week range is $0.74 – $5.64.
Biocept, Inc. (BIOC), a leading commercial provider of liquid biopsy tests designed to provide physicians with clinically actionable information to improve the outcomes of cancer patients, declares that President and CEO Michael W. Nall has issued the following letter to stockholders:
To Our Stockholders and Friends:
The entire team at Biocept looks forward to 2017, as we work to advance our position as a commercial leader in liquid biopsy. The past year was eventful as we introduced new high-value biomarker assays, signed in-network provider agreements with major health plans, and stated positive clinical study results that further validate our Target Selector™ platform. It was gratifying to see these accomplishments reflected in our improved operational and financial performance, with strong year-over-year growth in sample volumes and the achievement of our first million-dollar quarter in the third quarter of 2016.
Among our notable achievements, we commercialized our liquid biopsy test for PD-L1 protein expression last June. The determination of PD-L1 status is necessary to qualify patients for certain targeted immuno-oncology therapeutics. This test was well received by the medical community and physician demand has been strong since its launch. The quantification of protein expression for tests like PD-L1 is performed on circulating tumor cells (CTCs) and cannot be determined from circulating tumor DNA (ctDNA). This is an example of how our Target Selector™ dual-platform, which analyzes cancer biomarkers found on CTCs and in ctDNA, can provide a more comprehensive answer than other liquid biopsy tests that only analyze ctDNA.
We started 2017 by announcing an in-network agreement with the leading health plan in Texas. This is a noteworthy milestone for Biocept, as Texas is one of our leading markets. Recently, I am happy to report that we also recently reached a group-purchasing agreement with a large, national health plan association. This agreement substantially increases the opportunity for Biocept to enter into additional in-network agreements with member plans throughout this network. The selection of our liquid biopsy offering resulted from a rigorous RFP process conducted by the health plan association, and establishes pricing for member plans that wish to contract with Biocept.
BIOC stock’s price is now -35.40% down from its 52-week high and +346.94% up from its 52-week low. Taking a look into the performance of BIOC stock, investor will come to know that the weekly performance for this stock is valued at 57.55%, resulting in a performance for the month at 20.99%. Therefore, the stated figure displays a quarterly performance of 171.31% and year to date performance of 182.58%.
Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) inclined 20.83% to $24.65. Stock exchanged hands with the total volume of 5.27 Million shares, as contrast to its average volume of 536,095.00 shares. The 52-week range of the share price is from $16.40 – $37.65. For trailing twelve months, EPS value for the stock is $-0.49.
Beta factor of the stock stands at 1.53. Beta factor is used to measure the volatility of the stock. The stock remained 5.60% volatile for the week and 4.95% for the month. Looking into the profitability ratios of ACOR stock, investor will find its ROE, ROA, ROI standing at -3.40%, -1.80% and 2.90%, respectively. Acorda Therapeutics, Inc. (ACOR) declared Phase 3 clinical data of CVT-301, showing a statistically noteworthy improvement in motor function in people with Parkinson’s disease experiencing OFF periods. CVT-301 is an investigational, inhalable formulation of levodopa (L-dopa). It is being studied as a treatment for OFF periods in people with Parkinson’s disease taking an oral carbidopa / levodopa regimen. OFF periods refer to the re-emergence of Parkinson’s symptoms.
The SPAN-PD trial had three arms: CVT-301 84 mg and 60 mg doses (equivalent to 50 mg and 35 mg fine particle doses, respectively), and placebo. The primary endpoint of the study was the change at Week 12 in Unified Parkinson’s Disease Rating Scale-Part 3 (UPDRS III) score relative to placebo at 30 minutes post-treatment for the 84 mg dose. UPDRS III change for the 84 mg dose was -9.83 contrast to -5.91 for placebo (p=0.009). UPDRS III is a validated scale, which measures Parkinson’s motor impairment
The safety profile of CVT-301 in this study was consistent with that observed in the Phase 2b trial. Spirometry and diffusing capacity of the lung for carbon monoxide (DLCO) tests showed no notable pulmonary safety signals. The Company is presently conducting two studies to assess the long-term safety profile of CVT-301. Up to 12-month data from these studies are expected by the end of the first quarter of 2017.
The Company plans to file a New Drug Application (NDA) in the United States by the end of the second quarter of 2017, pending results of the long-term safety studies. The Company also plans to file a Marketing Authorization Application (MAA) in Europe by the end of 2017, pending additional data analyses.