Biocept, Inc. (NASDAQ:BIOC) Q1 2019 Earnings Conference Call - Final Transcript

May 08, 2019 • 04:30 pm ET


Biocept, Inc. (NASDAQ:BIOC) Q1 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good day, and welcome to the Biocept First Quarter Financial Results Conference Call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation there will be an opportunity to ask questions. (Operator Instructions) Please note this event is being recorded today, May 8th, 2019.

I would like to now turn the conference over to Mr. Kevin McCabe. Please go ahead.

Kevin McCabe

This is Kevin McCabe with LHA. Good afternoon, and thank you for participating in today's conference call. Joining me from Biocept are Michael Nall, President and Chief Executive Officer; Tim Kennedy, Senior Vice President of Operations and Chief Financial Officer; and Edwin Hendrick, Senior Vice President and Chief Commercial Officer.

During this call, management will be making a number of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and generally can be identified by terms such as anticipate, expect, believes, could, expects, intends, may, plans, potential, predict, project, should, will, would or the negative of those terms.

Forward-looking statements involve known and unknown risk, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those statements, as well as performance or achievements that are expressed or implied by the forward-looking statements. For details about these risks, please see the company's SEC Filings.

The content of this call contains time sensitive information that is accurate only as of today, May 8th, 2019, except as required by law, Biocept disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occurred after this call.

Now, I'd like to turn the call over to Michael Nall. Mike?

Michael Nall

Thank you, Kevin, and good afternoon to everyone on the call today. I'm pleased to report the steps we took in the second half of last year to reinvigorate our sample growth are paying off as we received 1011 commercial samples in the first quarter of 2019, up 27% sequentially from the fourth quarter of 2018.

On a year-over-year basis, our commercial samples grew 11% as compared to the first quarter of last year. We are now close to our historical peak of test volumes per quarter. And we anticipate that we will continue to grow test volume by focusing on various segments of the liquid biopsy market where our technologies can best be utilized.

As we mentioned on our last call in March, a key driver our renewed growth is our pathology partnership service also called EmpowerTC, which leverages our unique Target Selector circulating tumor cell or CTC platform. This offering enables pathologists to interpret the results of our proprietary CTC testing, thereby ensuring that the local hospital laboratories and pathologists remain in the critical path of the patient care continuum.

In the first quarter, we announced the expansion of this service with the capability to analyze additional prognostic and predictive markers for solid tumors. A key contributor to our growth this year has been seen