Shares of iSpecimen (Nasdaq: ISPC), an online marketplace for human biospecimens, soared more than 200% over the last several sessions after the Company announced a $21 million private placement priced at $12 per share with warrants exercisable at $13 per share. Prior to the announcement, shares of the Company were trading for under $5 per share. This strong validation from Wall Street sparked a massive wave of investor interest with more than 10x the stocks average daily volume trading on the day the news broke.

As a disruptor in the highly fragmented space, iSpecimen has a distinct first-mover advantage with their online, technology-based approach to biospecimen procurement. iSpecimen’s marketplace platform harnesses the power of healthcare data to bring many of the same ease-of-use characteristics of B2C marketplaces to a complex B2B market – from guided searches, to shopping carts, to online order management. The Company’s data-centric, technology-based approach brings unprecedented scalability and efficiencies to a fragmented market that is dominated by manual processes and tools. Unlike competitors that build their own biorepositories, iSpecimen’s uses its technology to connect researchers to the biospecimen inventories that exist in its healthcare provider network. The Company takes negligible inventory risk, precluding the need to deploy large amounts of capital to build and maintain a biorepository.