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. (Nasdaq: ISPC) has successfully closed a private placement, raising approximately $21 million by selling 1,749,999 shares of common stock and warrants to purchase 1,312,500 shares. Each share was sold at a price of $12.00, accompanied by three-quarters of a warrant, which has an exercise price of $13.00 and a term of five and a half years. The private placement was managed by ThinkEquity. The securities offered will not be registered under the Securities Act, and iSpecimen plans to file a registration statement with the SEC for resale purposes.
iSpecimen (Nasdaq: ISPC) has announced a definitive agreement for a private placement to sell 1,749,999 shares of common stock and warrants, expecting to raise approximately $21.0 million in gross proceeds. Each share is priced at $12.00, accompanied by warrants exercisable at $13.00 per share. The placement is set to close on December 1, 2021, subject to customary conditions. The securities will not be registered under the Securities Act and will require a registration statement for resale. This transaction aims to strengthen the company's liquidity and financial position.
iSpecimen (Nasdaq: ISPC), a marketplace for human biospecimens, has secured contracts to support advanced COVID-19 research focusing on transmissibility and variant outcomes. The company has partnered with various research organizations over the past ten months, providing samples like nasal swabs and blood products. Notably, iSpecimen has supplied 600 positive and 100 negative serum samples to the CDC for antibody monitoring. Their work extends to military and private organizations, facilitating custom COVID-19 collections across diverse demographics to aid ongoing studies.
iSpecimen reported strong financial results for Q3 2021, with revenue increasing by 21% to $2.7 million, driven by expanding sales efforts and a growing user base. The company's nine-month revenue surpassed $8.6 million, a 57% increase compared to 2020. Notably, unique suppliers increased to 197 and registered users in the marketplace grew 30% year-over-year. Despite increasing general and administrative expenses to $1.7 million, the net loss reduced to approximately $1.1 million. iSpecimen aims to broaden its offerings and enhance its technology moving forward.
iSpecimen Inc. (Nasdaq: ISPC) announces participation in two virtual conferences in November 2021: A.G.P.'s Biotech & Specialty Pharma Conference on November 10 and the 12th Annual Craig-Hallum Alpha Select Conference on November 16. These events will provide opportunities for one-on-one meetings with management. iSpecimen specializes in connecting life scientists to human biospecimens through a unique online marketplace and cloud-based technology, enhancing medical discovery efforts. For more details, visit www.ispecimen.com.
iSpecimen Inc. (NASDAQ: ISPC) will announce its third quarter financial results on November 4, 2021, before market open. The conference call is scheduled for 8:30 a.m. ET, featuring remarks from CEO Christopher Ianelli, CFO Tracy Curley, and COO Jill Mullan. Interested individuals can join the call via toll-free numbers or access a replay until November 18, 2021. The company provides an online marketplace for human biospecimens, connecting scientists with healthcare providers for medical research.
iSpecimen Inc. (Nasdaq: ISPC) announced an expansion of its human biospecimen supplier network to enhance the availability of whole blood, plasma, and biofluids for liquid biopsy development. This move aims to support a growing market projected to reach $1.45 billion with a 24% annual growth rate through 2026. The company has supplied thousands of biospecimens for nearly 30 studies, reinforcing its commitment to advancing liquid biopsy technology, which offers less invasive disease detection methods.
iSpecimen Inc. (Nasdaq: ISPC) announced its inclusion in the Russell Microcap Index, effective September 20, 2021. This inclusion signifies recognition of the company's growth in the biospecimen procurement sector, expected to enhance visibility within the investment community. Being part of the Russell indexes, which benchmark approximately $10.6 trillion in assets, positions iSpecimen favorably for attracting institutional investors. The company is also refining its iSpecimen Marketplace, aiming to support researchers in scientific discovery.
iSpecimen (Nasdaq: ISPC), a leader in the online marketplace for human biospecimens, announced CEO Christopher Ianelli will participate in the H.C. Wainwright 23rd Annual Global Investment Conference, occurring virtually from September 13-15, 2021. His presentation will be available on-demand starting September 13 at 7:00 a.m. ET. iSpecimen connects life scientists with healthcare providers through its innovative platform to facilitate medical discovery.
iSpecimen Inc. (ISPC) announced a growth in its cancer-related supplier network despite challenges posed by COVID-19. The company formed partnerships with various labs and biobanks, significantly enhancing access to tissue and biofluid specimens from cancer patients. A recent collaboration with a European healthcare organization adds 17 types of cancer specimens, expanding the network to over 30 suppliers. These developments are aimed at improving specimen availability for cancer research, supporting advancements in therapies and diagnostics.
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