---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-144030"
form_type: "8-K"
ticker: null
cik: "0001044378"
company_name: "BIOCEPT INC"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:29:34.356509+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Biocept Q1 revenue collapses to $0.7M; faces Nasdaq delisting for low equity

## Summary
- Net revenue fell to $0.7M from $19.9M YoY; COVID-19 testing ceased in Feb 2023.
- Net loss attributable to common stockholders was $7.1M ($0.41/share) vs $2.2M ($0.13) a year ago.
- Cash dropped to $6.8M from $12.9M at year-end 2022; equity at $2.4M below Nasdaq minimum.
- Expects Nasdaq delisting notice; must submit compliance plan within 45 days.
- Stockholders approved reverse stock split between 1:15 and 1:30 ratios.

## SEC filing metadata
- accession: 0001193125-23-144030
- form_type: 8-K
- cik: 0001044378
- company_name: BIOCEPT INC
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 3.01, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1044378/000119312523144030/0001193125-23-144030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1044378/000119312523144030/d420466d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-144030
- JSON: https://secwatch.observer/filing/0001193125-23-144030.json
- Plain text: https://secwatch.observer/filing/0001193125-23-144030.txt

## Key facts
- Earnings Releases
  BIOCEPT INC reported the three months ended March 31, 2023 results: revenue $0.7 million, net income $7.1 million, EPS $0.41 per share.
  - Period: the three months ended March 31, 2023
  - Revenue: $0.7 million
  - Net income: $7.1 million
  - EPS: $0.41 per share
  - Result: reported results
  source text: with reporting of second quarter financial results in mid-August,” Mr. Riccitelli concluded. First Quarter Financial Results Net revenues for the first quarter of 2023 were $0.7 million, compared with $19.9 million for the first quarter of 2022, with the decline due to lower RT-PCR COVID-19 testing volume. In February 2023 the Company ceased providing COVID-19
  evidence_url: https://www.sec.gov/Archives/edgar/data/1044378/000119312523144030/0001193125-23-144030-index.htm
- Listing & Compliance Notices
  BIOCEPT INC received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: stockholders equity
  - Rules: 5550(b)
  source text: May 15, 2023 to formally notify the Company of non-compliance with the Rule. The Company discussed the noncompliance with the Rule with Nasdaq on May 12, 2023. Pursuant to the Notice and Nasdaq rules, the Company will have 45 calendar days after receipt of the Notice to submit a plan to regain compliance with the Rule. If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Notice for the Company to provide evidence of compliance. There can be no assurance that the Company will be able to regain compliance with the Rule.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1044378/000119312523144030/0001193125-23-144030-index.htm
- Shareholder Votes
  BIOCEPT INC shareholders approved Approval of the Authorization to Adjourn the Special Meeting at the 2023-05-11 meeting.
  - Outcome: passed
  - Meeting: 2023-05-11
  source text: The final voting results are as follows: Votes For Votes Against Abstentions Broker Non-Votes 4,574,843 2,758,298 95,195 0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1044378/000119312523144030/0001193125-23-144030-index.htm
- Shareholder Votes
  BIOCEPT INC shareholders approved Approval of a reverse stock split of common stock at a ratio between 1-for-15 and 1-for-30 at the 2023-05-11 meeting.
  - Proposal: reverse split
  - Outcome: passed
  - Meeting: 2023-05-11
  source text: The final voting results, including 300,000,000 votes represented by the share of Series B Preferred Stock voted in the same proportion as the votes cast by shares of common stock on Proposal 1, are as follows: Votes For Votes Against Abstentions Broker Non-Votes 186,084,407 116,708,364 73,495 0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1044378/000119312523144030/0001193125-23-144030-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.