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iSpecimen Shares Soar After Being Picked for Critical Covid-19 Research

By Sam Boughedda

Investing.com — iSpecimen Inc (NASDAQ:ISPC) stock jumped 126% from recent lows after it was contracted by the U.S. Government and private researchers to support new advanced research on Covid-19.

The company, an online marketplace for human biospecimens, told investors that the research is exploring insights on the virus's transmissibility, variants, outcomes, and testing validity.

iSpecimen's share price is trading at all-time highs since its June IPO.

"We embrace the challenge and are gratified that researchers are coming to us for the specific biospecimens they need from the types of patients they're focusing on," said iSpecimen Founder and CEO Christopher Ianelli.

iSpecimen isn't new to Covid-19 research and work. In the last 10 months, it has partnered with multiple organizations on a range of projects requiring various Covid-19 samples, including nasal swabs, saliva, and blood products.

Immediately after the outbreak last year, it began sending serum samples to the U.S. Centers for Disease Control and Prevention to help researchers monitor antibody development.

The company also said it has been contacted by multiple other organizations about providing custom Covid-19 collections.

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