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Biocept Completing the Answer ™ Biocept Reports Third Quarter 2021 Financial Results November 15 , 2021 • Revenues for the third quarter of $ 17.5 million , up 165 % over prior - year quarter , driven by increased RT - PCR COVID - 19 testing , resulting in profitability ; cash balance of $ 27.7 million at quarter - end • Robust CNSide TM sequential - quarter volume growth ; continued customer base expansion • Data generated by leading cancer center demonstrates superior performance of CNSide versus standard of care Conference call begins at 4:30 p.m. Eastern time today SAN DIEGO -- ( BUSINESS WIRE ) -- Nov . 15 , 2021-- Biocept , Inc. ( Nasdaq : BIOC ) , a leading provider of molecular diagnostic assays , products and services , reports financial results for the three and nine months ended September 30 , 2021 and provides a business update . " With CNSide , our paradigm - changing neuro - oncology test that uses cerebrospinal fluid for diagnosing and monitoring patients with brain metastases , we are reporting strong sequential quarter volume growth , primarily driven by data generated with our academic partners , " said Michael Nall , Biocept's President and CEO . " Our customer base for this proprietary service continues to grow , with the majority as repeat users . " As an update on our RT - PCR COVID - 19 testing services , we have now received more than 660,000 samples for testing since June 2020. Testing volume increased during the third quarter due to the emergence of the Delta variant and our contracted services with the California community college system , " he added . " Revenue from COVID - 19 testing drove profitability for both the quarter and year - to - date , which in turn supports continued investment in our long - term oncology business . " Third Quarter 2021 and Recent Highlights Commercial Developments and Agreements Oncology • Expanded the customer base for CNSide to 40 top U.S. academic institutions . CNSide is Biocept's cerebrospinal fluid assay that offers a timely and accurate method to diagnose patients with lung and breast cancer that has metastasized to the central nervous system , along with the ability to identify actionable biomarkers and assess a patient's response to therapy . • Received a positive coverage decision from Medicare and high - value reimbursement of $ 2,435 for the Target Selector breast cancer assay to detect the HER2 biomarker from circulating tumor cells ( CTCs ) in liquid biopsy . COVID - 19 • Implemented COVID - 19 testing services at more than 30 community college campuses across California , streamlining the testing and tracking process for administrators , and allowing students and staff to easily schedule and fulfill COVID - 19 testing requirements . Scientific Presentations • Presented new data from a retrospective study conducted by the University of Utah Huntsman Cancer Center in a poster at the Third Annual Conference on Brain Metastases hosted by the Society for Neuro - Oncology . Study data showed CNSide detected tumor cells in 100 % of samples from 15 patients with lung cancer and leptomeningeal carcinomatosis , while standard of care CSF cytology detected tumor cells in 40 % of samples . CNSide also identified actionable biomarkers for treatment decision - making extending life and quality of life for some patients . • Co - sponsored webinar with Cap Today entitled " A new CSF assay can improve detection and management of brain metastases , " featuring presentation by Michael Dugan , MD , Senior Vice President , Chief Medical Officer and Medical Director of Biocept ; Seema Nagpal , MD , Clinical Associate Professor of Neurology , Division of Neuro - oncology , Stanford University ; and Santosh Kesari , MD , PhD , Professor of Neurosciences , Chair of the Department of Translational Neurosciences , Director of Neuro - Oncology Saint John's Cancer Institute . • Presented data at the Third Annual RAS - Targeted Drug Development Summit on Target Selector assay formats for the ultra - sensitive detection of KRAS mutations using Switch - Blocker TM technology , which provides advantages for the assessment of therapeutic tumor response and is cost effective for serial monitoring .