Welcome to our dedicated page for Ispecimen SEC filings (Ticker: ISPC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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iSpecimen Inc. reported that Nasdaq has notified the company its common stock no longer meets the Nasdaq Capital Market’s minimum bid price rule, which requires a closing bid of at least $1.00 per share for 30 consecutive business days. The stock will continue trading under the symbol ISPC with no immediate change to its listing status.
The company has until May 18, 2026, a 180‑day period, to regain compliance by having its closing bid price at or above $1.00 per share for at least ten consecutive business days, or up to twenty if required by Nasdaq staff. If compliance is not regained by that date, iSpecimen may qualify for an additional 180‑day period if it meets other Nasdaq listing criteria and may consider actions such as a reverse stock split. Failure to regain compliance within the applicable period could lead to delisting, though iSpecimen would have the right to appeal.
iSpecimen Inc. is asking stockholders to approve several items at its 2025 virtual annual meeting on December 31, 2025. Holders of common stock as of November 3, 2025, when 9,771,028 shares were outstanding, can vote online, by phone, or by mail.
Stockholders will vote on electing two Class I directors to three-year terms, ratifying Bush & Associates CPA LLC as independent auditor for 2025, and approving the new 2025 Stock Incentive Plan. The plan would reserve 1,000,000 shares of common stock for equity awards, supplementing the Amended and Restated 2021 Stock Incentive Plan, which had 73,084 shares available as of October 28, 2025. The board is also seeking authority to adjourn the meeting if needed and recommends voting “FOR” all proposals.
iSpecimen Inc. (ISPC) director Arphing Lee filed an initial Form 3 reporting their ownership position as of 11/07/2025. The filing states that no securities of iSpecimen Inc. are beneficially owned, meaning the director reports holding no shares or derivative securities of the company at this time. This is an administrative disclosure required for insiders when they assume a reportable role such as director.
iSpecimen Inc. reported weak results for the quarter ended September 30, 2025, with revenue of $106,592, down sharply from $2,661,936 a year earlier. Operating expenses of $2.94 million drove a quarterly net loss of $2,780,648 and a nine-month loss of $5,486,287, though losses narrowed versus 2024. Cash and cash equivalents were $2,782,758, against negative working capital of $2,096,503 and an accumulated deficit of $77,348,904, leading management to state that there is substantial doubt about the company’s ability to continue as a going concern.
To bolster liquidity, iSpecimen completed a $3,999,574 underwritten offering and a $1,749,998 private placement in 2025, plus prior ATM sales. The company has aggressively cut compensation and technology costs versus 2023–2024, but remains heavily loss-making. Legal matters include a $215,000 arbitration settlement with its former CIO and several ongoing disputes, including litigation with a technology vendor that briefly shut down the iSpecimen Marketplace and led to a court order requiring deposits of 15% of revenue into a dedicated account up to $420,000.
iSpecimen Inc. filed an amended proxy outlining its 2025 annual meeting, to be held virtually on December 31, 2025 at 10:00 a.m. Eastern Time. Holders of record at the close of business on November 3, 2025 may vote.
Stockholders will vote on: electing two Class I directors (Siyun Yang and Arphing (Tommy) Lee), ratifying Bush & Associates CPA LLC as independent auditor for the year ending December 31, 2025, approving the iSpecimen Inc. 2025 Stock Incentive Plan, and a proposal to adjourn the meeting if necessary.
The 2025 Stock Incentive Plan would reserve 1,000,000 shares for future equity awards, has no evergreen increase, and would become effective December 31, 2025, with a 10‑year term. As of October 28, 2025, 73,084 shares remained available under the existing 2021 plan. The Board unanimously recommends a vote “FOR” all proposals.
iSpecimen Inc. appointed Katharyn Field as Chief Executive Officer, Secretary, and Treasurer, effective immediately. She will continue to serve as President. On the same date, Robert Bradley Lim stepped down as CEO, Secretary, and Treasurer and resigned from the Board.
The Board filled the resulting vacancy by appointing Arphing (Tommy) Lee as an independent director and named him to the Audit Committee and the Nominating and Corporate Governance Committee. The company stated that, to its knowledge, Mr. Lim’s resignation did not involve a disagreement with the company, and it does not anticipate disruption to operations.
There were no changes to Ms. Field’s compensation in connection with this appointment. Committee compositions were updated, with Mr. Anthony Lau continuing as Audit Chair, Ms. Yuying Yang as Compensation Chair, and Mr. Avtar Dhaliwal as Nominating and Corporate Governance Chair.
iSpecimen Inc. reported voting results from its October 30, 2025 special meeting. Stockholders approved multiple capital actions, including a reverse stock split in a range of 1:10 to 1:100, an increase in authorized capital stock from 250,000,000 to 1,000,000,000, and approvals under Nasdaq Listing Rule 5635(d) for potential private financings and an equity line of credit that could exceed 19.99% of outstanding shares and occur below the Minimum Price.
As of the July 25, 2025 record date, 3,979,517 common shares were outstanding and entitled to vote. A quorum was present with 1,437,502 shares represented, approximately 36% of those entitled to vote. Stockholders also approved amending certain outstanding convertible securities to raise the conversion price floor from 50% to 80% of the lowest volume-weighted average price during the measurement period, and authorized other business properly brought before the meeting.
iSpecimen Inc. filed a universal shelf registration on Form S-3 to register up to
Its common stock trades on Nasdaq as “ISPC.” The last reported sale price was
The prospectus also describes a planned corporate treasury program targeting up to
iSpecimen Inc. (ISPC) called a special shareholder meeting to approve several capital actions. The Board seeks authority to effect a reverse stock split at a ratio between 1-for-10 and 1-for-100, with the exact ratio set at the Board’s discretion, primarily to support compliance with Nasdaq’s $1.00 minimum bid price. The Board also asks to increase authorized capital from 250,000,000 to 1,000,000,000 shares.
The agenda includes two Nasdaq Listing Rule 5635(d) approvals: one for potential non‑public financings exceeding 19.99% of outstanding common stock or voting power (at a price that may be below the Minimum Price), and another to permit an equity line of credit with issuances that could also exceed 19.99%. Separately, the company seeks to amend certain outstanding convertibles to raise the conversion price floor from 50% to 80% of the lowest VWAP during the applicable period, which may reduce shares issuable upon conversion. An adjournment proposal is also included.
The Board recommends voting FOR all proposals. The meeting is virtual on October 30, 2025 at 10:00 a.m. ET for holders of record as of July 25, 2025.
iSpecimen, Inc. filed an amended S-1 registration that describes a transactional biospecimen marketplace with concentrated revenue, recent capital raises, material liabilities, and operational and legal risks. The company reports its common shares outstanding prior to and after the offering are based on 8,211,156 shares as of
The company received a Nasdaq deficiency notice for minimum stockholders’ equity requirements and has submitted a compliance plan. Capital raises in 2024 included an ATM program that generated gross proceeds of approximately
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