iSpecimen Inc.
0.8028-0.06 (-6.63%)
Oct 29, 4:00:02 PM EDT · NasdaqCM · ISPC · USD
Key Stats
Market Cap
7.84MP/E (TTM)
-Basic EPS (TTM)
-8.91Dividend Yield
0%Recent Filings
8-K
Crypto treasury update
iSpecimen Inc. updated its strategic push into digital assets on September 4, 2025, revealing approaches from cryptocurrency firms offering tokenized real-world assets and top cryptocurrencies, while advancing a Solana-based treasury program targeting up to $200 million. The company plans to buy SOL, including discounted Locked SOL, via OTC deals for staking and limited spot trading to diversify its balance sheet and fuel growth, funded by future capital raises. Yet risks loom in crypto's regulatory haze.
8-K
Milestone 1 completed in transformation
iSpecimen Inc. completed Milestone 1 of its digital transformation on August 21, 2025, installing the Salestack platform to modernize its biospecimen marketplace infrastructure. This upgrade delivers immediate gains in reliability, security, and innovation speed through automated, multi-cloud architecture. Yet challenges persist in realizing full benefits. The company now advances to Milestone 2 for deeper business integration.
10-Q
Q2 FY2025 results
iSpecimen's Q2 revenue fell 75% year-over-year to $713K, reflecting a 57% drop in delivered specimens to 2,533 amid a shift to recognizing revenue only upon delivery, while costs plunged 69% to $444K, lifting gross margins to 37.7% from 50.2%. Operating loss narrowed 17% to $1.8M as expenses halved to $2.5M, driven by 76% cuts in sales and marketing and 41% in technology after workforce reductions slashed monthly compensation 76% and tech costs 71%. Net loss improved 50% to $1.0M, aided by $764K in other income, though operating and net losses diverged by 58% due to this non-operating boost. Cash dwindled to $589K with negative working capital of $4.0M, but a July 2025 offering added $4M in gross proceeds. Legal disputes with vendors like Focus Technologies pose collection risks.
8-K
iSpecimen launches Solana treasury
iSpecimen announced plans on August 7, 2025, to build up to a $200 million corporate treasury reserve centered on the Solana blockchain ecosystem, integrating digital assets into its biospecimen sourcing model. The company retained WestPark Capital for advisory and BlockArrow for management, emphasizing security via Coinbase Custody and Solana's scalability for future decentralized research apps. This bold pivot aligns with blockchain momentum in life sciences. Yet crypto markets swing wildly.
8-K
iSpecimen closes $1.75M placement
iSpecimen Inc. closed a $1.75 million private placement on August 4, 2025, issuing 1,559,828 shares or pre-funded warrants at $1.122 each to accredited investors, compliant with Nasdaq rules. The deal bolsters liquidity, earmarking $500,000 for marketing via IR Agency LLC while channeling the rest to working capital amid tight funding. Cash infusion aids operations. Yet dilution looms for shareholders.
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