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Biocept Jumps on Quest Accord to Offer Lung Cancer Testing

Biocept rose Tuesday after it said it would provide laboratory-testing services to lung-cancer patients of Quest Diagnostics.
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Biocept  (BIOC) - Get Report shares rose Tuesday after it said it would provide laboratory-testing services to patients of Quest Diagnostics  (DGX) - Get Report for lung cancer.

The product from Biocept, San Diego, is the Target Selector NGS-based liquid biopsy targeted lung cancer panel.

That assay is a “less invasive lab-developed test that can be used for genomic profiling in patients with advanced non-small-cell lung cancer to help qualify them for advanced targeted therapies and monitor the effectiveness of treatment,” Biocept said.

“With a physician order, patients will be able to provide a blood specimen for testing at one of Quest’s 2,200 conveniently located patient service centers across the U.S.” Quest is the Secaucus, N.J., provider of diagnostic-testing services.

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The companies expect the service to be available to Quest Diagnostics patients in the fourth quarter.

Biocept recently traded at $4.33, up 3.1%. The stock on Tuesday has traded up as much as 18% at $4.97. It has slid 8% over the past six months.

“Lung cancer is one of the most prevalent and deadliest cancers,” said Kristie Dolan, general manager of the oncology franchise at Quest. “Better tools to aid in therapy selection and monitoring are urgently needed to improve patient outcomes.”

In other medical news, biotech company MediciNova  (MNOV) - Get Report on Monday reported progress in its Phase 2 trial of ibudilast, which treats alcohol use disorder. The testing found that ibudilast reduced the odds of heavy drinking over time by 45% relative to placebo.

Last Thursday, Nanox Imaging  (NNOX) - Get Report said it applied to the FDA for clearance of a system that produces scans of human body parts. “The company has submitted a 510(k) premarket notification application to the U.S. Food and Drug Administration,” Nanox said.