iSpecimen Approached by Crypto Currency Companies for $200 Million Treasury DiscussionsSeptember 04, 2025 4:05 PM EDT | Source: iSpecimen Inc.Woburn, Massachusetts--(Newsfile Corp. - September 4, 2025) - iSpecimen Inc. (NASDAQ: ISPC), (the "Company"), a technology-enabled company modernizing the way human biospecimens are sourced for scientific research, today announced an update on its major strategic initiative aimed at integrating digital assets into its business model. The Company had prev ...

The completion of Milestone 1 is expected to provide several immediate and long-term benefits significant to the Company: This accomplishment positions iSpecimen to advance to Milestone 2 (Integration), which will focus on connecting all parts of the Company's business to the Salestack platform to create end-to-end efficiency across operations, customer engagement, and data management. "With Milestone 1 complete, we have implemented a robust and scalable platform that sets the stage for innovation," continu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-40501 iSpecimen Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizati ...

WOBURN, Mass., Aug. 04, 2025 (GLOBE NEWSWIRE) -- iSpecimen Inc. (Nasdaq: ISPC) ("iSpecimen" or the "Company"), an online global marketplace that connects scientists requiring biospecimens for medical research with a network of healthcare specimen providers, today announced that it closed its previously announced private placement pursuant to a securities purchase agreement with accredited investors for aggregate gross proceeds of approximately $1.75 million, before deducting fees to the placement agent and ...

Core Points - iSpecimen Inc. has entered into a securities purchase agreement with accredited investors for approximately $1.75 million in gross proceeds [1][2] - The company plans to allocate $500,000 of the net proceeds for marketing and advertising services, with the remainder designated for working capital and general corporate purposes [1] - The offering will consist of 1,559,828 shares of common stock priced at $1.122 per share, expected to close around August 1, 2025 [2][3] Company Overview - iSpecimen operates an online marketplace connecting scientists with healthcare specimen providers for medical research [6] - The company utilizes proprietary, cloud-based technology to facilitate the search for biospecimens across a network of hospitals, labs, and other healthcare organizations [6]

Company Overview - iSpecimen Inc. operates an online global marketplace connecting scientists with healthcare specimen providers for medical research [6] - The company utilizes proprietary cloud-based technology to facilitate the search for biospecimens and patients across a network of healthcare organizations [6] Recent Offering - On July 25, 2025, iSpecimen announced the closing of an underwritten public offering of 5,714,283 shares at a price of $0.70 per share, generating approximately $4 million in gross proceeds [2][3] - The offering was conducted on a firm commitment basis, with WestPark Capital, Inc. serving as the Sole Book-Runner [3] Use of Proceeds - The net proceeds from the offering will be allocated as follows: $1.5 million for marketing and advertising services from IR Agency LLC, $1 million for an initial milestone payment to Sales Stack Solutions Corp., and the remainder for working capital and general corporate purposes [3] Regulatory Compliance - The securities offered are pursuant to a registration statement on Form S-1, which was declared effective by the SEC on July 23, 2025 [4]

Core Viewpoint - iSpecimen Inc. announced a public offering of 5,714,283 shares at a price of $0.70 per share, aiming to raise approximately $4 million in gross proceeds before expenses [2][3]. Group 1: Offering Details - The public offering is expected to close on July 25, 2025, pending customary closing conditions [2]. - The net proceeds from the offering will be allocated as follows: $1.5 million for marketing and advertising services, $1 million for an initial milestone payment to Sales Stack Solutions Corp., and the remainder for working capital and general corporate purposes [3]. Group 2: Company Overview - iSpecimen operates an online marketplace connecting scientists with healthcare providers for biospecimens needed in medical research, utilizing proprietary cloud-based technology [6].

Core Viewpoint - iSpecimen Inc. has successfully closed a public offering of 5,714,283 shares at a price of $0.70 per share, raising approximately $4 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The public offering was conducted on a firm commitment basis, with WestPark Capital, Inc. serving as the Sole Book-Runner [2]. - The offering price was set at $0.70 per share, resulting in gross proceeds of around $4 million [1][2]. Group 2: Use of Proceeds - The company plans to allocate $1,500,000 for marketing and advertising services from IR Agency LLC [2]. - An initial milestone payment of $1,000,000 will be made under a definitive agreement with Sales Stack Solutions Corp. [2]. - The remaining funds will be used for working capital and general corporate purposes [2]. Group 3: Company Overview - iSpecimen operates an online marketplace connecting scientists with healthcare providers for biospecimens needed in medical research [5]. - The company utilizes proprietary, cloud-based technology to facilitate searches for specimens and patients across a network of healthcare organizations [5].

Core Viewpoint - iSpecimen Inc. has announced a public offering of 5,714,283 shares at a price of $0.70 per share, aiming to raise approximately $4 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The public offering is priced at $0.70 per share, with expected gross proceeds of around $4 million [1]. - The offering is set to close on July 25, 2025, pending customary closing conditions [1]. - WestPark Capital, Inc. is acting as the Sole Book-Runner for the offering [2]. Group 2: Use of Proceeds - The company plans to allocate $1,500,000 for marketing and advertising services from IR Agency LLC [2]. - An initial milestone payment of $1,000,000 will be made to Sales Stack Solutions Corp. [2]. - Remaining funds will be used for working capital and general corporate purposes [2]. Group 3: Company Overview - iSpecimen operates an online marketplace connecting scientists with healthcare specimen providers for medical research [5]. - The company utilizes proprietary cloud-based technology to facilitate searches for biospecimens across a network of healthcare organizations [5].

Financial Transactions - The company closed a private placement offering on December 1, 2021, for gross proceeds of approximately $21 million, after deducting $1.4 million for underwriting discounts and commissions [150]. - The company entered into an At the Market Offering Agreement on March 5, 2024, allowing for the issuance of shares with an aggregate offering price of up to $1,500,000, resulting in net proceeds of approximately $1,239,000 after offering costs [151]. - A public offering on October 29, 2024, resulted in gross proceeds of approximately $4,998,464, intended for debt repayment and potential acquisitions [159]. - The company entered into a Purchase Agreement on September 19, 2024, for a loan of $1,000,000 with an interest rate of 18% per annum, which was paid off on October 31, 2024 [157][158]. Stock and Compliance - A reverse stock split of 1-for-20 was approved and became effective on September 13, 2024, allowing the company to regain compliance with Nasdaq listing requirements [154][155]. Revenue and Expenses - Revenue decreased by approximately $1,232,000, or 54%, from approximately $2,290,000 for the three months ended March 31, 2024, to approximately $1,058,000 for the three months ended March 31, 2025, primarily due to a decrease of 2,932 specimens, or approximately 56% [188]. - Cost of revenue decreased by approximately $343,000, or 34%, from approximately $1,000,000 for the three months ended March 31, 2024, to approximately $657,000 for the three months ended March 31, 2025 [190]. - Technology expenses decreased by approximately $367,000, or 40%, from approximately $912,000 for the three months ended March 31, 2024, to approximately $545,000 for the three months ended March 31, 2025 [191]. - Sales and marketing expenses decreased by approximately $319,000, or 48%, from approximately $666,000 for the three months ended March 31, 2024, to approximately $347,000 for the three months ended March 31, 2025 [193]. - General and administrative expenses decreased by approximately $1,345,000, or 64%, from approximately $2,104,000 for the three months ended March 31, 2024, to approximately $759,000 for the three months ended March 31, 2025 [196]. - Total operating expenses decreased by approximately $2,594,614, or 49%, from approximately $5,290,513 for the three months ended March 31, 2024, to approximately $2,695,899 for the three months ended March 31, 2025 [187]. Operational Performance - Loss from operations improved by approximately $1,362,131, or 45%, from a loss of $3,000,520 for the three months ended March 31, 2024, to a loss of $1,638,389 for the three months ended March 31, 2025 [187]. - The company capitalized approximately $0 of internally developed software costs during the three months ended March 31, 2025, compared to approximately $275,000 for the same period in 2024, reflecting a 100% decrease [192]. - Other income decreased by approximately $118,000, or 120%, from an income of approximately $98,000 for the three months ended March 31, 2024, to an expense of approximately $20,000 for the three months ended March 31, 2025 [197]. Cash Flow and Working Capital - Cash and cash equivalents decreased by approximately $1,095,845, or 58%, from $1,878,408 as of December 31, 2024, to $782,563 as of March 31, 2025 [198]. - Working capital deficit increased by approximately $1,209,228, or 55%, from $(2,182,488) to $(3,391,716) during the same period [198]. - Net cash flows used in operating activities improved by approximately $976,518, or 47%, from $(2,072,363) for the three months ended March 31, 2024, to $(1,095,845) for the three months ended March 31, 2025 [198]. - The company reported a net loss of approximately $1,658,000 for the three months ended March 31, 2025, compared to a net loss of approximately $2,902,000 for the same period in 2024 [202]. - The company has an accumulated deficit of approximately $73,521,000 as of March 31, 2025 [199]. Strategic Initiatives - The company is reevaluating pricing and enhancing internal communications to address current market conditions and improve operational efficiency [163]. - The company achieved a reduction in monthly compensation costs of approximately 93% and technology costs of approximately 73% during the first quarter of 2025 compared to the same period in 2024 [199]. - The company terminated 180 supplier agreements during the year ended December 31, 2024, as part of its "supplier network refresh project" to focus on high-value suppliers [172]. Market Conditions - The ongoing Russian-Ukrainian war negatively impacted the company’s supply chain, causing delays and affecting margins due to the unavailability of suppliers in those regions [165]. - The company has experienced negative effects of inflation, particularly affecting employee salaries and supply costs, but long-term contracts have mitigated significant impacts on specimen costs [211][212]. - Management's plans to continue as a going concern include generating additional revenues and deferring certain projects, but there is no assurance of success in these efforts [201]. Company Mission - The company’s mission is to accelerate life sciences research through a global marketplace platform, focusing on growth and scalability [167].