SAN DIEGO, Oct. 19, 2016 /PRNewswire/ -- Biocept, Inc. (BIOC), a molecular diagnostics company commercializing and developing blood-based liquid biopsies to provide information to physicians to improve the diagnosis and treatment of cancer, announces the closing of its previously announced underwritten public offering of 9,100,000 shares of its common stock and warrants to purchase up to an aggregate of 9,100,000 shares of its common stock at a combined offering price of $1.10. Warrants to purchase up to an additional 627,131 shares of our common stock at a purchase price of $0.0009 per warrant were also sold pursuant to the partial exercise of the underwriters' over-allotment option. The warrants have a per share exercise price of $1.10, are exercisable immediately and will expire five years from the date of issuance. The gross proceeds to Biocept from this offering were approximately $10,010,000, before deducting the underwriting discount and estimated offering expenses payable by Biocept.
Roth Capital Partners and Feltl and Company acted as joint book-running managers for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on October 13, 2016. A prospectus related to these securities has been filed with the Securities and Exchange Commission and can be obtained at no cost by visiting the SEC's website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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 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 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.
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