SAN DIEGO, April 14, 2020 /PRNewswire/ -- Biocept, Inc.
(NASDAQ: BIOC) ("Biocept" or the "Company"), a leading commercial
provider of liquid biopsy tests designed to provide physicians with
clinically actionable information to improve the outcomes of
patients diagnosed with cancer, today announced that on
April 14, 2020 it entered into a securities purchase agreement
with several institutional investors for the issuance and sale of
22,300,000 shares of its common stock at a price of $0.46 per share, for aggregate gross proceeds of
approximately $10.3 million, in a
registered direct offering.
Maxim Group LLC is acting as the sole placement agent for the
The offering is expected to close on or about April 16, 2020, subject to the satisfaction of
customary closing conditions.
The shares of common stock are being offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-224946) previously
filed and declared effective by the Securities and Exchange
Commission (SEC). The offering of the shares of common stock will
be made only by means of a prospectus supplement that forms a part
of the registration statement.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. A
prospectus supplement relating to the shares of common stock will
be filed by Biocept with the SEC. When available, copies of the
prospectus supplement relating to the registered direct offering,
together with the accompanying prospectus, can be obtained at the
SEC's website at www.sec.gov or from Maxim Group LLC, 405
Lexington Avenue, New York, NY
10174, Attention: Syndicate Department, or via email at
email@example.com or telephone at (212) 895-3745.
About Biocept, Inc.
Biocept is a molecular diagnostics company with commercialized
assays for lung, breast, gastric, colorectal and prostate cancers,
and melanoma. The Company uses its proprietary liquid biopsy
technology to provide physicians with information for treating and
monitoring patients diagnosed with cancer. The Company's
patented Target Selector™ liquid biopsy technology platform
captures and analyzes tumor-associated molecular markers in both
circulating tumor cells (CTCs) and in plasma (ctDNA). With
thousands of tests performed, the platform has demonstrated the
ability to identify cancer mutations and alterations to inform
physicians about a patient's disease and therapeutic options. For
additional information, please visit www.biocept.com.
This release contains forward-looking statements that are based
upon current expectations or beliefs, as well as a number of
assumptions about future events. Although we believe that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, we can give
no assurance that such expectations and assumptions will prove to
have been correct. Forward-looking statements are generally
identifiable by the use of words like "may," "will," "should,"
"could," "expect," "anticipate," "estimate," "believe," "intend,"
or "project" or the negative of these words or other variations on
these words or comparable terminology. To the extent that
statements in this release are not strictly historical, including
without limitation statements as to our ability to close the
offering and the gross proceeds from the offering, such statements
are forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The reader is cautioned not to put undue reliance on these
forward-looking statements, as these statements are subject to
numerous risk factors as set forth in our SEC filings. The effects
of such risks and uncertainties could cause actual results to
differ materially from the forward-looking statements contained in
this release. We do not plan to update any such forward-looking
statements and expressly disclaim any duty to update the
information contained in this press release except as required by
law. Readers are advised to review our filings with the SEC, which
can be accessed over the Internet at the SEC's website located at
LHA Investor Relations
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SOURCE Biocept, Inc.