AnPac Bio-Medical Science Co., Ltd. (ANPC) saw a push of 2.90% in premarket. However, the last trading session closed at $1.38 with a decrease of 16.36%.
Unaudited Financial results for nine months ended in September 2021
On 26th November 2021, ANPC announced financial results for nine months that ended in September 2021. The company reported total revenue of $2.1 million. Moreover, the gross profit margin was 59.3 and the average selling price of CDA-tests came out to be $71.6 million. Furthermore, the net loss came out to be $13.8 million. Last but not least, ANPC reported that it had $0.8 million in cash and cash equivalents.
Now what?
The company’s sales increased by 55.3 percent, and the gross margin increased by 8.8 percentage points. Furthermore, the company set new records for the number of issued patents, as well as clinical and commercial sample sizes. ANPC has filed an application for registration testing of the multi-cancer detection medical device for 11 forms of cancer and is making good progress in securing regulatory clearance for the class III medical device for lung cancer diagnosis. In addition, the company is also working hard to have the CDA cancer test approved as a Laboratory Developed Test (LDT). Lastly, the company is working to receive registration clearance for the class III medical device.
About ANPC
ANPC is a biotechnology business focused on early cancer diagnosis and screening. AnPac Bio provides a suite of cancer screening and detection tests. Furthermore, the Company has a large cancer screening and detection database, which included roughly 43,900 clinical samples. Lastly, ANPC’s CDA technology platform was demonstrated to have good sensitivity and specificity in detecting the risk of over 20 distinct cancer types.
