iSpecimen (NASDAQ: ISPC) falls below Nasdaq equity listing requirement

Rhea-AI Filing Summary

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.

Insights

Equity markets & listing standards analyst

Nasdaq noncompliance puts iSpecimen’s listing status at risk.

iSpecimen’s reported stockholders’ equity of $814,038 for the period ended March 31, 2026 is far below the Nasdaq Capital Market minimum of $2,500,000 required by Listing Rule 5550(b)(1). Nasdaq also notes the company does not meet alternative continued listing standards.

The notice does not immediately halt trading; ISPC remains on the Nasdaq Capital Market while the company prepares a remediation plan. Under Nasdaq rules, iSpecimen has 45 calendar days from the May 29, 2026 notice to submit its plan, and Nasdaq may allow up to 180 days from that date to evidence compliance.

If Nasdaq does not accept the plan, iSpecimen can appeal to a Nasdaq Hearings Panel. The outcome depends on the company’s ability to strengthen its stockholders’ equity or satisfy another standard within the allowed timeframe, as described in the notice.

8-K Event Classification

Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

1 item

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing Securities

The company received a delisting notice or transferred its listing to a different exchange.

Key Figures

Nasdaq equity requirement: $2,500,000 stockholders’ equity Reported stockholders’ equity: $814,038 Plan submission window: 45 calendar days +1 more

4 metrics

Nasdaq equity requirement $2,500,000 stockholders’ equity Minimum under Nasdaq Listing Rule 5550(b)(1) for Capital Market

Reported stockholders’ equity $814,038 As reported for period ended March 31, 2026

Plan submission window 45 calendar days Time from May 29, 2026 notice to submit compliance plan

Potential compliance extension Up to 180 calendar days Maximum period from May 29, 2026 to evidence compliance if plan accepted

Key Terms

Nasdaq Listing Rule 5550(b)(1), stockholders’ equity, Nasdaq Capital Market, Listing Qualifications Department

4 terms

Nasdaq Listing Rule 5550(b)(1) regulatory

"no longer complies with Nasdaq Listing Rule 5550(b)(1) (the “Rule”), which requires a minimum of $2,500,000 in stockholders’ equity"

stockholders’ equity financial

"the Company had stockholders’ equity of $814,038"

Stockholders’ equity is the portion of a company’s value that belongs to its owners after subtracting what the company owes from what it owns — like the equity in a house after paying the mortgage. For investors it shows the company’s net worth and can indicate financial strength, a cushion against losses, and the amount potentially available to support dividends or reinvestment; tracking changes helps assess whether the business is building or eroding owner value.

Nasdaq Capital Market market

"for continued listing on the Nasdaq Capital Market (the “Capital Market”)"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

Listing Qualifications Department regulatory

"received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC"

A listing qualifications department is the part of a stock exchange that checks whether a company meets the exchange’s rules for being listed and staying listed. Think of it as a gatekeeper or building inspector: it reviews financial statements, disclosure practices and corporate governance, flags problems and can require fixes or remove a company’s shares. Investors care because its decisions affect whether a stock remains tradable and how much trust to place in a company’s reporting.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

Why did iSpecimen (ISPC) receive a Nasdaq noncompliance notice?

iSpecimen received the notice because its stockholders’ equity of $814,038 as of March 31, 2026 is below Nasdaq’s $2,500,000 minimum under Listing Rule 5550(b)(1). Nasdaq also noted the company does not meet alternative equity, market value, or net income standards.

Does the Nasdaq notice immediately affect trading of iSpecimen (ISPC) stock?

The notice has no immediate effect on trading. iSpecimen’s common stock will continue to trade on the Nasdaq Capital Market under the symbol ISPC while the company works on a plan to regain compliance with the listing standards described in the notice.

How long does iSpecimen (ISPC) have to regain Nasdaq listing compliance?

iSpecimen has 45 calendar days from the May 29, 2026 notice to submit a compliance plan. If Nasdaq accepts the plan, the company may receive up to 180 calendar days from that same date to demonstrate compliance with the applicable Nasdaq Capital Market listing standards.

What options does iSpecimen (ISPC) have if Nasdaq rejects its compliance plan?

If Nasdaq does not accept iSpecimen’s plan to regain compliance, the company will have the opportunity to appeal the decision to a Nasdaq Hearings Panel. The outcome of any appeal would determine whether the Nasdaq Capital Market listing can be maintained.

What specific Nasdaq rule is iSpecimen (ISPC) failing to meet?

iSpecimen is not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires at least $2,500,000 in stockholders’ equity for continued listing on the Nasdaq Capital Market. The company reported stockholders’ equity of $814,038 for the period ended March 31, 2026.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 29, 2026

iSpecimen Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-40501		27-0480143
(State or other jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

8 Cabot Road, Suite 1800
Woburn, MA 01801

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (781) 301-6700

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		ISPC		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On May 29, 2026, iSpecimen Inc. (the “Company”) received a letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it no longer complies with Nasdaq Listing Rule 5550(b)(1) (the “Rule”), which requires a minimum of $2,500,000 in stockholders’ equity for continued listing on the Nasdaq Capital Market (the “Capital Market”).

As reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2026, the Company had stockholders’ equity of $814,038. Nasdaq noted that, as of May 29, 2026, the Company does not meet the alternative continued listing standards under the Capital Market’s equity standard, market value of listed securities standard, or net income standard.

The Notice has no immediate effect on the listing or trading of the Company’s common stock, which will continue to trade on the Nasdaq Capital Market under the symbol “ISPC.” Under Nasdaq’s rules, the Company has 45 calendar days from the date of the Notice to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, the Company may be granted an extension of up to 180 calendar days from the date of the Notice to evidence compliance.

The Company intends to submit a compliance plan to Nasdaq within the required 45-day timeframe. There can be no assurance that Nasdaq will accept the Company’s plan or that the Company will ultimately regain compliance within the applicable time period. If the Company’s plan is not accepted, the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.

1

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: June 1, 2026

	iSPECIMEN INC.
	By:	/s/ Katharyn Field
		Name:	Katharyn Field
		Title:	Chief Executive Officer

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Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL SCHEMA FILE 2.9 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB