Categories Earnings, Other Industries

Earnings: Biocept reports net loss for Q2; revenue beats

Biocept (NASDAQ: BIOC), a leading molecular oncology diagnostics company, reported a net loss for the second quarter. Revenues increased sharply and topped the Street view, while the bottom-line missed. The stock gained modestly Monday evening, after the announcement.

Revenues surged 45% annually to $1.19 million, beating the estimate by a wide margin. The top-line benefitted from the management’s revised commercial strategy. Commercial samples were up 26% compared to the second quarter of 2018, reflecting the management’s special focus on the liquid biopsy oncology market.

During the second quarter, Biocept accessioned 1,066 commercial samples. It also accessioned 1,211 billable samples, compared to 996 samples last year.

diagnostics
Image for representation only. Courtesy: Michal Jarmoluk (Pixabay)

The company reported a net loss of $7.81 million or $0.38 per share for the quarter, compared to a loss of $6.15 million or $2.70 per share last year. Analysts were expecting flat earnings.

Also see: Walmart to thrive on e-commerce, global expansion in Q2

Research & development expenses rose 10% annually to $1.1 billion, owing mainly to investments in automation and development of the recently launched Target Selector NGS Lung and Target Selecto NGS Breast liquid biopsy panels. 

“We believe this partnership will allow us to commercialize data generated from our liquid biopsy testing, with Prognos applying its artificial intelligence technology to its repository of more than 20 billion laboratory records to help life science and pharmaceutical companies develop and market targeted therapies,” said CEO Michael Nall.

Related: Biocept Q1 2019 Earnings Conference Call Transcript

During the quarter, the company rolled out Target Selector NGS Lung Panel and Target Selector NGS Breast Panel, its first two multi-gene liquid biopsy panels. Also, the management entered into a business partnership with Beacon Laboratory Benefit Solutions, a provider of laboratory benefit management technology solutions.

Biocept shares are currently trading close to the levels seen at the beginning of the year. The stock, which lost about 69% since last year, closed Monday’s regular session higher.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

AVGO Earnings: Broadcom Q2 2024 revenue and profit beat estimates

Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Wednesday reported higher second-quarter revenues and adjusted earnings. The results also topped analysts' expectations. Earnings, excluding non-recurring items, came in at $10.96 per

Key takeaways from Oracle’s (ORCL) Q4 2024 earnings report

Oracle Corporation’s (NYSE: ORCL) stock rallied this week after the company announced large cloud infrastructure deals with tech giants Google, OpenAI, and Microsoft. The demand for Oracle's generative AI infrastructure

ZDGE Earnings: Zedge reports higher revenues and adj. profit for Q3 2024

Content distribution platform Zedge, Inc. (NYSE American: ZDGE) has reported higher net income for the third quarter of 2024, on an adjusted basis. The bottom line benefitted from a double-digit

Comments

  1. Pingback: Arie Baisch
  2. Pingback: Chirurgie Tunisie
  3. Pingback: Private university
  4. Pingback: fue email
  5. Pingback: pH Meters
  6. Pingback: fue
  7. Pingback: Grading System
  8. Pingback: Hesham Tawfik
  9. Pingback: MSc in pharmacy
  10. Pingback: Summer Courses
  11. Pingback: Protocol
  12. Pingback: Luce lineare LED
  13. Pingback: leanbiome
  14. Pingback: Fiverr Earn
  15. Pingback: Fiverr Earn
  16. Pingback: fiverrearn.com
  17. Pingback: fiverrearn.com
  18. Pingback: 3pl Broker
  19. Pingback: weather today
  20. Pingback: fiverrearn.com
  21. Pingback: fiverrearn.com
  22. Pingback: fiverrearn.com
  23. Pingback: french bulldog
  24. Pingback: springerdoodles
  25. Pingback: bernedoodles
  26. Pingback: jute vs sisal rug
  27. Pingback: SMM
  28. Pingback: blockchain
  29. Pingback: swimsuit
  30. Pingback: bewerto
  31. Pingback: Cash for phones
  32. Pingback: Pure copper ring
  33. Pingback: future university
  34. Pingback: future university
  35. Pingback: Fiverr.Com
  36. Pingback: Fiverr
  37. Pingback: lean six sigma
  38. Pingback: Piano trading
  39. Pingback: FUE
  40. Pingback: FUE
  41. Pingback: FUE
  42. Pingback: Classic Books 500
  43. Pingback: FiverrEarn
  44. Pingback: Fiverr.Com
  45. Pingback: FiverrEarn
  46. Pingback: FiverrEarn
  47. Pingback: Speaker
  48. Pingback: FiverrEarn
  49. Pingback: OnlyFans Australia
  50. Pingback: partners
  51. Pingback: Sport analysis
  52. Pingback: FiverrEarn
  53. Pingback: FiverrEarn
  54. Pingback: live sex cams
  55. Pingback: FiverrEarn
  56. Pingback: FiverrEarn
  57. Pingback: FiverrEarn
  58. Pingback: FiverrEarn
  59. Pingback: FiverrEarn
  60. Pingback: digital marketing
  61. Pingback: Slot Thailand
  62. Pingback: FiverrEarn
  63. Pingback: FiverrEarn
  64. Pingback: fullersears.com
  65. Pingback: fullersears.com
  66. Pingback: live sex cams
  67. Pingback: marketplace
  68. Pingback: rare breed-trigger
  69. Pingback: juicios fiscales
  70. Pingback: 늑대닷컴
  71. Pingback: Situs judi online
  72. Pingback: nang delivery
  73. Pingback: allgame
  74. Pingback: 918kiss
  75. Pingback: Beauty tips
  76. Pingback: AI Lawyer
  77. Pingback: 6.5 grendel ammo
  78. Pingback: itsMasum.Com
  79. Pingback: itsMasum.Com
  80. Pingback: itsMasum.Com
  81. Pingback: nangs sydney
  82. Pingback: here
  83. Pingback: joker gaming
  84. Pingback: madrid jobs

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top