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AnPac Bio-Medical Science Co., Ltd. (Nasdaq: ANPC) has achieved a significant milestone in its cancer risk assessment tests, confirming over 2,000 cases of cancer and pre-cancer among participants.
As of September 30, 2021, the study identified 22 types of cancer and 25 types of pre-cancer, demonstrating the effectiveness of the CDA test in early screening. The ongoing follow-up study involved contacting 14,806 individuals, highlighting the potential of CDA technology for detecting multiple cancers and pre-cancers early.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) reported its financial results for the six months ending June 30, 2021. The company achieved total revenues of approximately RMB9.3 million (US$1.4 million), marking a 128.5% increase from the previous year. The gross profit margin rose to 61.4%, a 16.1 percentage point improvement, primarily due to higher selling prices for cancer differentiation analysis tests. However, net loss increased to RMB57.7 million (US$8.9 million), compared to RMB56.1 million in the same period of 2020. Non-GAAP net loss decreased by 18.3%, signaling operational efficiency improvements.
AnPac Bio-Medical Science Co. (NASDAQ: ANPC) received a notification from Nasdaq on September 24, 2021, indicating non-compliance with the minimum Market Value of Listed Securities (MVLS) of $50 million, as per Nasdaq Rules. This deficiency was observed over a 30-day period from August 12 to September 23, 2021. The Company has until March 23, 2022, to regain compliance by achieving the required market value for at least ten consecutive business days. The Notification does not affect current trading or the Company's business operations.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) announced the increase of its stake in AnPai (Shanghai) Healthcare Management Consultant Co., Ltd. This move was approved by the company's audit committee and board of directors after rigorous financial and legal due diligence. AnPai, established in 2016, has demonstrated solid revenue growth and a diverse customer base. CEO Dr. Chris Yu highlighted that this acquisition will enhance AnPac Bio’s customer diversity and revenue growth potential while providing benefits from its CDA technology.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) announced its Philadelphia laboratory has achieved accreditation from the College of American Pathologists (CAP). This accreditation, recognized as stringent by the U.S. federal government, validates AnPac Bio's commitment to high-quality patient care. The CAP inspection assesses laboratory procedures, staff qualifications, and overall management standards. Dr. Pandit expressed pride in the achievement, emphasizing its significance for the company’s cancer differentiation analysis technology. The company has consolidated its operations into this modern facility, enhancing its capabilities for early cancer detection.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) announced that it submitted an application to China's NMPA for registration testing of its class III multi-cancer detection device, as of August 19, 2021. The technology aims to assist in diagnosing 11 cancer types, including lung and thyroid cancers. This follow-up expands the previous lung cancer-only filing. The company completed extensive preclinical trials involving over 43,900 samples by July 2021. Clinical trials are anticipated to begin in 2022.
AnPac Bio-Medical Science Co. (NASDAQ: ANPC) announced on August 17, 2021, the appointment of Dr. Sunil Pandit as U.S. CEO, effective August 16, 2021. Dr. Pandit, a seasoned life sciences professional with over 25 years of experience, will spearhead the company's U.S. R&D and commercialization efforts for its core product, Cancer Differentiation Analysis (CDA) technology. The company aims to solidify its presence in early cancer screening and detection, leveraging Dr. Pandit's expertise to enhance growth and market share.
AnPac Bio (NASDAQ: ANPC) and Roche Pharmaceuticals China have announced a cooperation agreement aimed at enhancing early cancer screening, diagnosis, and treatment solutions. The collaboration will leverage AnPac Bio's Cancer Differentiation Analysis (CDA) technology alongside Roche's FoundationOne CDx to provide comprehensive solutions for high-risk patients. This partnership seeks to reduce medical costs and improve healthcare accessibility in China, where there are 32 million cancer patients.
AnPac Bio-Medical Science Co., Ltd. has appointed Chao Feng as an independent director, effective July 19, 2021, succeeding Lin Yu who resigned for personal reasons. Feng has experience at Fortune 500 companies and has held various managerial roles in China. His expertise in strategic planning and sales is expected to benefit the company's long-term growth. AnPac Bio specializes in early cancer screening and detection, boasting 142 issued patents and recognition for its technology in the industry.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) announced a contract with Advanced Life Therapeutics for contract R&D on cancer treatment devices, where AnPac holds a 40% equity interest. Revenue generation is expected to begin in Q3 2021. The company is also engaging in discussions with major medical corporations to enhance its Cancer Differentiation Analysis (CDA) test revenues and to develop new medical devices leveraging its expertise in integrated circuits. CEO Dr. Chris Yu expressed optimism about these developments as potential new revenue streams.
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