ISpecimen Inc (NASDAQ:ISPC) is trading higher Thursday after the company announced the addition of a reference lab in New York to support commercial and government customers focused on COVID-19 research.
ISpecimen said the reference lab has the capacity to sequence hundreds of COVID-19 positive swabs per week. The lab is sequencing the most recent swabs in order to identify new variants of COVID-19 as the virus continues to progress.
"The sequencing of nasal swabs is necessary to determine which variant a patient has tested positive for and provides variant-positive specimens for research," said Christopher Ianelli, founder and CEO of ISpecimen.
ISpecimen announced it has delivered more than 15,000 specimens for more than 200 COVID-related projects since the start of the pandemic.
ISpecimen is a technology-driven company focused on connecting life science researchers who need human biofluids, tissues and living cells for their research, with the available biospecimens.
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ISPC Price Action: ISpecimen has traded as low as $4.75 and as high as $28.97 over a 52-week period.
The stock was up 12% at $7.65 at time of publication.
Photo: kkolosov from Pixabay.
