iSpecimen Inc. (ISPC) stock gained a further 9.31% in the aftermarket, compared to a huge gain of 71.67% in the previous trading session. On November 26, the stock closed at $17.51 after gaining $7.31, after which it gained a small sum of $1.63 in the after hours. The normal trading volume of the stock was 70.78 million, calming down to 3 million in the aftermarket. Intraday trading the stock saw a high of $24.67 and a low of $16.42, reaching its new 52-week high. In the past week, ISPC stock has gained a huge 97.18%, making its one-month gain 126.23%. While the three months gain of the stock has now reached 174.88% at an average volume of 3.47 million. Currently, ISPC has a market capital of $122.51 million with 7 million outstanding shares. The galloping jumps the stock had been making since its previous news seems to have calmed down.
iSpecimen Inc. (ISPC) provides technology to connect life science researchers in need of human biofluids, tissues, etc. to biospecimens in healthcare organizations worldwide.
Recent News
On November, 22, following the company’s announcement for being selected for important Covid-19 research, the ISPC stock has been going high. As per the news, the U.S. government and private researchers both selected the company for supplying important biospecimens for the advanced phase of Covid-19 research. But the huge strides the stock was taking upwards, seem to have become milder in the after-hours on Friday.
The stock is still traded in the green but only after the market opens, will we know how the investors will react to the company’s new private placement.
ISPC’s Private Placement
On November 29, iSpecimen Inc. (ISPC) announced a $21 million worth private placement with three accredited investors. As per the agreement, 1,749,999 shares of the company’s common stock along with warrants to purchase 1,312,500 shares will be sold. Moreover, the combined offering price of each share with three-quarters of one warrant is $12.00. The placement is expected to close on December 1, 2021.
ISPC’s Financial Highlights
On November 4, iSpecimen Inc. (ISPC) announced its third-quarter financial results for 2021. As per Q3 of 2021, the revenue was $2.7 million, against $2.3 million in Q3 of 2020. This shows an increase of 21% year over year.
Moreover, the net loss for the third quarter of 2021, was $1.1 million, against $1.2 million in Q3 of 2020. ISPC had cash and cash equivalents of $9.8 million approximately, as of September 30, 2021.
