SAN DIEGO, Sept. 4, 2020 /PRNewswire/ -- Biocept, Inc.
(Nasdaq: BIOC), a leading commercial provider of molecular
technologies designed to provide physicians with clinically
actionable information to improve patient outcomes, announces that,
as a result of the Company's one-for-ten reverse stock split which
will become effective at 5:00 p.m. Eastern
Time on September 4, 2020, the
Company's common stock will begin trading on a split-adjusted basis
on The Nasdaq Capital Market ("Nasdaq") effective with the open of
the market on Tuesday, September 8,
2020. Biocept's common shares will continue to trade under
the ticker symbol "BIOC."
Authorization for the reverse stock split was approved by the
Company's stockholders at Biocept's 2020 Annual Meeting of
Stockholders. The objective of the reverse stock split is to
increase the market price for the Company's common stock to, among
things, enable the Company to regain compliance with the
$1.00 minimum bid price requirement
under applicable Nasdaq Listing Rules.
As a result of the reverse stock split, each ten pre-split
shares of common stock outstanding will automatically combine and
convert to one issued and outstanding share of common stock without
any action on the part of the stockholder. No fractional
shares of common stock will be issued to any shareholders in
connection with the reverse stock split. Holders of record will
receive a cash payment in lieu of fractional shares.
Stockholders of record will receive information regarding their
share ownership following the reverse stock split from the
Company's transfer agent, Continental Stock Transfer &
Trust. Continental Stock Transfer & Trust can be reached
at (212) 509-4000.
For additional information regarding the reverse stock split,
please refer to Biocept's Current Report on Form 8-K, filed with
the Securities and Exchange Commission on September 4, 2020.
About Biocept
Biocept, Inc. 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
clinically actionable 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 circulating tumor DNA (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. In
addition, Biocept recently added COVID-19 testing to support
efforts to fight the pandemic. For additional information, please
visit www.biocept.com.
Forward-Looking Statements Disclaimer Statement
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 regarding the reverse stock split, the ability of our
tests to provide clinically actionable information and the ability
of Biocept's platform to identify cancer mutations and alterations
to inform physicians about a patient's disease and therapeutic
options, 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 Securities
and Exchange Commission (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 www.sec.gov.
Investor Contact:
LHA Investor
Relations
Jody Cain
Jcain@lhai.com
310-691-7100
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SOURCE Biocept, Inc.