Biocept (NASDAQ: BIOC), a leading provider of molecular diagnostic assays, products and services, is reporting the pricing of its underwritten public offering. The offering is comprised of 1,176,470 shares of common stock (or prefunded warrants in lieu thereof) and warrants to purchase up to an aggregate of 2,352,940 shares of its common stock. The shares will be offered at a combined price of $4.25 per share (or prefunded warrant in lieu thereof), along with an accompanying warrant to purchase two shares of common stock. According to the announcement, each warrant will have an exercise price of $4.25 per share. The warrants will be exercisable immediately with an expiration date five years from when they are issued. The company noted that it anticipates the funds from the offering to total an estimated $5 million, which it plans to use for the advancement of the company’s FORESEE trial for CNSide along with working capital and general corporate purposes. The offering was scheduled to close on May 26, 2023, subject to customary closing conditions.
To view the full press release, visit https://ibn.fm/B72bI
About Biocept Inc.
Biocept is a molecular diagnostics company with commercialized assays for patients with carcinomas or melanomas. Experts have spent years working to change the way physicians look at cerebrospinal fluid (“CSF”) in cancer patients. Biocept has developed a unique, patented methodology to isolate cancer material that is shed from the primary tumor, such as CSF tumor cells (“CSF-TCs”) and cell-free DNA (“cfDNA”). As such, Biocept is a leading commercial provider of testing services designed to enable clinicians to rapidly detect and monitor cancer biomarkers from a cerebrospinal fluid sample. For more information, visit the company’s website at www.Biocept.com.
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