iSpecimen is set to extend rally after contract win for COVID-19 research
Nov. 23, 2021 6:57 AMiSpecimen Inc. (ISPC)By: Dulan Lokuwithana, SA News Editor
After recording more than ~80% gain on Monday, nanocap health tech company iSpecimen (NASDAQ:ISPC) continues to rise in the pre-market with a ~88.3% surge.
The rally has followed an announcement made by the Lexington, Massachusetts-based firm yesterday over winning a contract from the U.S. government and some private researchers for the delivery of human biospecimens for advanced COVID-19 research.
Currently, ~2.9M iSpecimen (ISPC) shares have changed hands compared to the 65-day average volume of ~1.6M shares.
The operator of iSpecimen Marketplace offers technological solutions to connect the researchers requiring biological specimens with healthcare providers.
The company reported $8.6M in revenue for the first nine months of the year with ~57% YoY growth. However, the net loss more than doubled for the period to reach ~$6.9M as general and administrative expenses climbed ~190% YoY to $4.1M.
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