viewBiocept Inc

Biocept says it has received more than 35,000 COVID-19 specimens for processing at its San Diego lab

It has distributed about 83,000 COVID-19 PCR specimen collection kits so far and has inventory for about 87,000 additional kits

The company expects to collect an average reimbursement of about $100 per test

Biocept Inc (NASDAQ:BIOC) said Wednesday it has received more than 35,000 COVID-19 specimens to-date for processing through its RT-PCR technology at its San Diego lab. 

The company added that it expects to collect an average reimbursement of about $100 per test. 

All told, Biocept said it has distributed about 83,000 COVID-19 PCR specimen collection kits so far this year and has inventory for about 87,000 additional collection kits.

READ: Biocept inks deal to make its Target Selector cancer assays in-network for 3M US military members, their families

"In slightly more than two weeks, our lab has received around 14,000 COVID-19 specimens as our COVID-19 testing continued to gain momentum," said chief executive officer Michael Nall in a statement. 

"Even with the increased volume, the vast majority of COVID-19 test results were reported to our healthcare provider customers within 48 hours of receiving a sample. We are increasingly confident that COVID-19 testing will have a significant impact on third-quarter revenue and be an important aspect of our business during the pandemic."

While the majority of health providers that have ordered COVID-19 testing from Biocept are from California, the company said it is now serving a growing list of clients in multiple states, including skilled nursing centers, hospitals, clinics, surgery centers, and other businesses.

"We continue to make good progress in developing our own COVID-19 specimen collection kits and remain on track for launch later this year,” Nall said. “These specimen collection kits will be validated on a number of platforms used in our lab and for potential sales to other labs.”

Biocept’s lab is high-complexity, CLIA-certified and CAP-accredited with a BSL-2 safety level. Its specialized, licensed molecular lab staff have been trained in performing the COVID-19 testing.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Biocept Inc

Price: 4.49 USD

Market: NASDAQ
Market Cap: $60.14 m


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Biocept Inc named herein, including the promotion by the Company of Biocept Inc in any Content on the Site, the Company receives from said...



Tiziana Life Sciences to fast-track its human coronavirus trials for...

Tiziana Life Sciences PLC (LON:TILS)(NASDAQ:TLSA) chairman Gabriele Cerrone speaks to Proactive London's Andrew Scott after announcing they're soon to kick off a clinical study of its nasally administered Foralumab in COVID-19 patients in Brazil. He says it's due to start in the next...

3 days, 9 hours ago

2 min read