BCAL Diagnostics Makes Major Breakthrough in Breast Cancer Blood Test with 90% Sensitivity
Healthcare share BCAL Diagnostics Ltd (ASX: BDX) experienced a significant surge in its stock price after announcing a major breakthrough in breast cancer diagnostics. The company’s shares reached a new 52-week high of 21 cents, representing an 81% increase. While the share price has since retreated to 14.5 cents, the news has generated significant excitement among investors.
BCAL Diagnostics has successfully developed a blood test for detecting breast cancer and is currently testing its effectiveness. In collaboration with United States company Precion Inc., BCAL conducted a clinical study that yielded breakthrough results. The study demonstrated a sensitivity of 90% (the ability to detect true positive samples) and a specificity of 85.5% (the ability to detect true negative samples).
These results validate earlier studies conducted in Australia using a different mass spectrometry platform. BCAL is now optimistic about the commercialization of its breast cancer diagnostic test, with plans to make it available for commercial sales in the second half of 2024. The blood test will be used in conjunction with mammograms to further enhance the accuracy of breast cancer detection.
The breakthrough results mean that commercial labs worldwide can potentially utilize blood samples from the BCAL test to detect breast cancer. This breakthrough is expected to accelerate BCAL’s global market penetration.
Executive Chair of BCAL, Jayne Shaw, expressed her excitement about the progress made, stating, These results are a major step towards making our test broadly available to patients and clinicians. We will continue to work closely with leading scientists and doctors as our science team further optimizes the test to make it more cost-effective when it is launched as a patient-friendly blood test for detecting breast cancer.
BCAL Diagnostics, a relatively new ASX healthcare share, was listed in 2021 and currently holds a market capitalization of $16.91 million.
To update its shareholders and the public, BCAL will be hosting an investor webinar on 8 August.
The healthcare sector is known for its defensive characteristics, as healthcare companies often maintain stable earnings even in volatile economic conditions. BCAL’s breakthrough in breast cancer diagnostics adds another significant advancement to the sector’s ongoing efforts in battling this prevalent disease that affects millions of women worldwide.
This breakthrough offers hope to individuals and medical professionals by providing a non-invasive alternative to traditional screening methods. As BCAL continues to refine and optimize its blood test, it has the potential to revolutionize breast cancer detection and enhance patient outcomes in the near future.
In conclusion, BCAL Diagnostics’ major breakthrough in breast cancer blood testing represents a significant step forward in improving early detection rates. The company’s successful clinical study and promising results have generated excitement among investors and the medical community alike. With its anticipated commercial release in 2024, BCAL’s blood test could soon become an indispensable tool in the fight against breast cancer.
