Biocept Inc (NASDAQ: BIOC ) shares are trading higher after the company signed a non-exclusive licensing agreement with CNSside. Plus Therapeutics Inc (NASDAQ: PSTV ), which expands the comprehensive laboratory services agreement between the two companies that was announced in June 2022.
to fuel Only He broke the story.
Plus Therapeutics is using CNSside in its clinical trials to treat patients with suspected leptomeningeal metastases (LM), cancers of the lining of the brain and spinal cord, with suspected carcinomas and/or melanoma.
CNSide is Biocept’s proprietary cerebrospinal fluid (CSF) based tumor cell imaging and counting platform used to detect, quantify and monitor tumor status in LM.
Plus will pay Biocept an upfront fee of $150,000 per share, plus $6,000 for CSF tumor cell count analysis performed in Biocept’s lab prior to completion. Technology transfer.
Once the technology transfer is complete, Plus BioCep will pay $300,000 plus fees on a sliding scale starting at $2,800 for each CNSside trial.
The license agreement also gives Plus an option to negotiate third-party exclusivity for a fee of $1,000,000 to Biocept.
Price Action: Shares of BIOC surged 83.30% to $1.54 during the pre-market session last check on Friday.
Do not miss real-time alerts on your stocks – join Benzinga Pro For free! Try a tool that helps you invest smarter, faster and better.
This column Why is the cancer research-focused biocap stock trading higher today? It appeared at first Benzinga.com
.
© 2023 Benzinga.com. Benzinga does not provide investment advice. all rights reserved.
