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.
iSpecimen Inc. filings document material events, governance matters, capital-structure changes, and reporting status for the company’s Nasdaq-listed common stock. Recent 8-K disclosures cover the completed 1-for-40 reverse stock split, related certificate amendments, Regulation FD press-release exhibits, shareholder meeting adjournments, and board composition changes.
The company’s regulatory record also includes emerging growth company disclosures and a Rule 12b-25 notice tied to its annual report filing process. These filings provide formal records of iSpecimen’s public-company obligations alongside its biospecimen marketplace operations.
iSpecimen Inc. registers 488,290 shares of Common Stock for resale by selling stockholders. This prospectus covers up to 488,290 shares of common stock consisting of 85,202 Shares issued in the May 2026 Private Placement and 403,088 Warrant Shares issuable upon exercise of Pre-Funded Warrants, to be offered and resold from time to time by the selling stockholders. The Company will not receive proceeds from these resales; it may receive nominal proceeds (approximately $40.00) only if the Pre-Funded Warrants are exercised for cash at $0.0001 per share. The shares registered may be sold in public or private transactions at prevailing or negotiated prices; timing and amounts of any sales are determined by the selling stockholders.
iSpecimen Inc. received a Nasdaq notice that it no longer meets the exchange’s stockholders’ equity requirement for continued listing. Nasdaq Listing Rule 5550(b)(1) requires at least $2,500,000 in stockholders’ equity, while the company reported $814,038 as of March 31, 2026.
The company also does not meet Nasdaq Capital Market alternative standards based on equity, market value of listed securities, or net income. iSpecimen’s common stock will continue trading on the Nasdaq Capital Market under the symbol ISPC while it works on a plan.
The company has 45 calendar days from the May 29, 2026 notice to submit a compliance plan, and Nasdaq may grant up to 180 calendar days from that date to demonstrate compliance. The company intends to submit a plan but there is no assurance it will be accepted or that compliance will be regained.
iSpecimen Inc. reported the results of its reconvened 2025 Annual Meeting of Stockholders held on May 29, 2026. Of 8,478,579 common shares eligible to vote as of November 3, 2025, 2,979,059 shares were present or represented by proxy, establishing a quorum of approximately 35.14%.
Stockholders elected Arphing (Tommy) Lee as a Class I director for a three-year term, with 562,361 votes for and 150,431 withheld, and 2,266,267 broker non-votes. They also ratified Bush & Associates CPA LLC as independent registered public accounting firm for the year ending December 31, 2025, by 2,424,420 votes for, 155,256 against, and 399,383 abstentions.
In addition, stockholders approved the iSpecimen Inc. 2025 Stock Incentive Plan, receiving 461,073 votes for, 186,740 against, 64,979 abstentions, and 2,266,267 broker non-votes. These outcomes confirm the company’s proposed director slate, auditor, and equity incentive plan for 2025.
iSpecimen Inc. reported a challenging quarter for the period ended March 31, 2026. Revenue fell to $156,009 from $1,057,510 a year earlier, while total operating expenses were essentially flat at $2,694,412, leading to a larger operating loss of $2,538,403. Net loss widened to $2,275,221 compared with $1,658,396 in the prior-year quarter.
Cash and cash equivalents declined to $2,818,989 from $6,880,835 at year-end, driven by operating cash outflows of $3,361,846 and $700,000 invested in internally developed software. The company ended the quarter with total assets of $6,609,658, liabilities of $5,795,620, and stockholders’ equity of $814,038.
The filing states there is substantial doubt about iSpecimen’s ability to continue as a going concern, citing negative working capital of $2,115,634, an accumulated deficit of $84,625,370, and significant accounts payable and accrued expenses. Management has reduced workforce and technology spending by roughly 70% and 36%, respectively, versus the prior-year quarter and continues to pursue cost cuts and revenue growth.
The company executed or planned multiple financing steps, including prior underwritten and private placements, issuance and partial conversion of Series C preferred stock, and a subsequent May 2026 equity raise of 488,281 common shares or pre-funded warrants at $5.12 per share. It also implemented reverse stock splits of 1-for-20 in 2024 and 1-for-40 effective April 27, 2026 to maintain Nasdaq listing compliance. The quarter included ongoing sales tax remediation efforts, resolution of some legal matters through settlements, and continuing litigation with several counterparties.
iSpecimen Inc. notified the SEC that its Form 10-Q for the period ended March 31, 2026 will be filed late under Form 12b-25. The notification is dated May 15, 2026.
The company states the delay relates to items described in Part III and expects to file within the permitted cure period under Rule 12b-25; it includes a forward-looking statement disclaimer and is signed by CEO Katharyn Field.
iSpecimen Inc. entered into a private placement with accredited investors, raising approximately $2.5 million through a mix of common stock and pre-funded warrants. The company agreed to issue 488,281 shares of common stock at $5.12 per share, with certain investors instead receiving pre-funded warrants priced at $5.1199 each, exercisable for one share at an exercise price of $0.0001.
At closing, iSpecimen sold 85,202 shares and 403,088 pre-funded warrants, and plans to use the net proceeds for working capital, including up to $900,000 in marketing expenses. The total shares issuable in this transaction, including warrant exercises and adjustments, are capped at 19.99% of the pre-transaction outstanding common stock until stockholder approval under Nasdaq rules. Separately, Nasdaq notified the company it has regained compliance with the $1.00 minimum bid price requirement, and iSpecimen continues to adjourn and reconvene its 2025 annual meeting, now scheduled for May 29, 2026.
iSpecimen Inc. implemented a 1-for-40 reverse stock split of its common stock, effective at 4:30 p.m. Eastern Time on April 27, 2026. The stock began trading on a split-adjusted basis on April 28, 2026, and continues on the Nasdaq Capital Market under the symbol ISPC with a new CUSIP 45032V306.
Every 40 issued and outstanding shares, including treasury shares, were combined into one share, with fractional shares rounded up to the nearest whole share. Issued and outstanding common shares were reduced from 52,639,796 to approximately 1,316,032. Option, warrant, RSU, and plan reserve amounts were adjusted proportionately without changing par value.
The reverse split was intended to increase the per-share trading price, attract certain institutional and other investors, and help maintain compliance with Nasdaq’s minimum bid price requirement. The company also filed a Fifth Amended and Restated Certificate of Incorporation and a Certificate of Validation to ratify a prior 1-for-20 reverse stock split under Delaware law.
iSpecimen Inc. is continuing efforts to complete its 2025 Annual Meeting of Stockholders. The meeting was first convened on December 31, 2025, but was repeatedly adjourned on January 23, 2026, February 13, 2026, March 13, 2026 and April 10, 2026 because a quorum was not present. The company now plans to reconvene the Annual Meeting on May 8, 2026 at 9:00 a.m. Eastern Time. The record date for stockholders entitled to vote remains November 3, 2025, and the proposals to be voted on are unchanged from those described in the definitive proxy statement filed on November 21, 2025.
iSpecimen Inc. filed an 8-K to share an operational update on its biospecimen logistics. The company has implemented a streamlined shipping model that sends human biospecimens directly from supplier sites to customers, avoiding prior central-hub routing that often added 7–14 days to delivery times.
Under the new approach, domestic shipments can arrive in as little as 1–2 days, a reduction of about 70–85% in transit time, while using fewer shipment handoffs to lower overall shipping costs. Internationally, iSpecimen has strengthened partnerships across Europe and Eastern Europe to expand access to rare biospecimens and support more consistent, timely deliveries.
The model is supported by enhanced training and operational alignment across the company’s global supplier network. Since implementation earlier in the year, customer feedback has reportedly been positive, with users citing faster, more reliable deliveries and improved overall experience.
iSpecimen Inc. operates a technology-driven marketplace that connects life science researchers with human biospecimens and associated data sourced from a global healthcare provider network. The iSpecimen Marketplace aggregates de-identified data from electronic health systems, enabling researchers to search, select, and procure specimens and custom collections through an integrated workflow from inquiry to invoice.
As of December 31, 2025, the platform incorporated approximately 19 million patient records, 105 million clinical specimen records, and 1.4 million banked specimen records, and had delivered over 218,000 specimens across more than 3,500 projects. The company is migrating from a legacy architecture to a cloud-native system built on its SalesStack solution to improve scalability, security, and workflow unification.
Financially, iSpecimen reported net losses of $10.5 million in 2025 and $12.5 million in 2024, with an accumulated deficit of $82.4 million and an explanatory going-concern paragraph in its audited financial statements. The workforce shrank from 24 employees at the end of 2024 to seven at the end of 2025. The company also disclosed a material weakness in internal control over financial reporting related to sales tax processes and is implementing remediation measures. Revenue and cost of revenue are concentrated among a small number of customers and suppliers, and the business depends heavily on expanding its supply network, data access, and marketplace capabilities in a highly regulated environment.