Welcome to our dedicated page for iSpecimen news (Ticker: ISPC), a resource for investors and traders seeking the latest updates and insights on iSpecimen stock.
iSpecimen Inc., headquartered in Lexington, MA, is a leading marketplace for human biospecimens. The company provides researchers with the specimens they need from the patients they want through its innovative iSpecimen Marketplace. This online platform connects healthcare organizations with access to patients and specimens with scientists in need of these vital resources.
Utilizing proprietary, cloud-based technology, iSpecimen enables researchers to intuitively search for specimens across a federated partner network of hospitals, labs, biobanks, blood centers, and other healthcare organizations. This system allows for easy and compliant access to specimens, facilitating scientific discovery and advancing healthcare for all.
iSpecimen stands out by offering a unique value proposition to both researchers and partner sites. Researchers gain the necessary resources to drive their studies, while partner sites can contribute to biomedical discovery and benefit financially. The company caters to a global market, with operations spanning the Americas, Europe, the Middle East, Africa, and the Asia Pacific, with the majority of its revenue coming from the Americas.
In recent news, iSpecimen has achieved a sequential quarterly revenue growth of 75%, driven by enhanced operational efficiencies and new business initiatives. The company continues to expand its network by adding new suppliers and reinforcing existing relationships to provide researchers with increased access to highly sought-after biospecimens, especially for oncology research. Additionally, iSpecimen is making strides in quality control and assurance through digital AI histopathology services, enhancing data quality and operational efficiency.
For investors and media inquiries, iSpecimen's contacts at KCSA Strategic Communications are available for further information.
iSpecimen Inc. (ISPC) reported strong Q2 2024 results, with revenue increasing 76% year-over-year to $2.86 million. The company's operational improvements, including the Next Day Quotes program and Supplier Refresh initiative, contributed to this growth. Key highlights include:
- 58% conversion rate of Next Day Quotes to purchase orders in H1 2024
- Over 105 unique supplier organizations under contract as of June 30, 2024
- Cash and available-for-sale securities of $2.15 million as of June 30, 2024
The company's net loss decreased to $2.11 million, or $(0.19) per share, compared to a net loss of $3.50 million, or $(0.39) per share, in Q2 2023. iSpecimen also appointed Brielan Smiechowski as SVP of Sales and Business Development to focus on key customer accounts and implement a more robust outbound sales structure.
iSpecimen Inc. (Nasdaq: ISPC), an online global marketplace connecting scientists with biospecimen providers for medical research, has announced its plans to report second quarter 2024 financial results on August 6, 2024, before the market opens. The company will host a conference call and audio webcast at 8:30 a.m. Eastern Time, featuring remarks by CEO Tracy Curley.
Interested parties can join the live call at +1-800-717-1738 (U.S. Toll Free) or +1-646-307-1865 (International). A webcast will be available, and a replay of the call will be accessible until August 20, 2024. The earnings report and subsequent call may provide insights into iSpecimen's financial performance and future outlook.
iSpecimen Inc. (Nasdaq: ISPC) reported Q1 2024 financial results, highlighting a focus on Next Day Quotes program to expedite biospecimen transactions, resulting in improved market position and growth prospects. By strategically refining the supplier network, 40% of all quotes were Next Day Quotes in Q1 2024, with a high conversion rate to purchase orders. The Company aims to transition a majority of its business to Next Day Quotes for enhanced financial performance. Despite a reduction in revenue due to a decrease in specimen count, the average selling price per specimen increased, offsetting the impact. iSpecimen also announced a strategic partnership with TriMetis Life Sciences to enhance tissue-based research.
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