Stock of iSpecimen (NASDAQ: ISPC) soared almost 100% in Monday’s premarket trading; with investors reacting to news that the company has been awarded a contract to support advanced research on Covid-19; more specifically, further data on transmission, variants, and testing validity.
As we crawl out of the lighter end of the pandemic, investors remain incredibly active in clutching at potential lifelines. Stock like Merck and Pfizer have seen periods of strong volatility as the vaccine race continues to dominate the pharmaceutical sector, while companies like iSpecimen make their mark in an increasingly competitive space. In the last 10 months, iSpecimen has been involved in multiple research projects and health care initiatives – providing critical biospecimens for samples, swabs, saliva, and blood products.
Christopher Ianelli, MD, Ph.D, iSpecimen CEO and Founder notes the importance of future study:
“COVID-19 has claimed more than 5 million lives, and it will require a lot of additional research to control the pandemic and improve society’s ability to contend with future outbreaks of infectious diseases”
Adding…
“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.”
iSpecimen stock is charging forward in Monday premarket, currently recording gains of nearly 100%, soaring past an all-time high of $8.33 to trade around $9.70. In a powerful start to the trading week, ISPC stock is maintaining impressive momentum and, depending on when profit-takers step in, can continue its rally through the opening market bells.
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