24/7 Market News Snapshot 13 December, 2024 – iSpecimen Inc. Common Stock (NASDAQ:ISPC)
DENVER, Colo., 13 December, 2024 (247marketnews.com) – (NASDAQ:ISPC) are discussed in this article.
iSpecimen Inc. (ISPC) is currently trending positively in the pre-market session, trading at $3.781, reflecting a 9.59% increase from its previous close of $3.450. This notable rise in share value signals strong buying interest, further bolstered by a trading volume of 854.60K shares. The positive market response may correlate with favorable developments surrounding the company, perhaps driven by its recent initiatives in enhancing biospecimen accessibility for researchers.
One such initiative is the newly introduced Next Day Quote Program (NDQ), aimed at streamlining the biospecimen transaction process. This program guarantees researchers receive timely and precise pricing information within 24 hours of request, addressing a critical demand in the life sciences research sector for high-quality biospecimens. The NDQ leverages iSpecimen’s in-depth knowledge of suppliers’ capabilities and pricing, which assists researchers in expediting their studies.
Since its launch in 2023, the NDQ program has proven crucial for iSpecimen’s growth trajectory. In November 2024, the program accounted for 30% of sales opportunities, with 48% of quotes generated falling under its purview. Notably, approximately 60% of these quotes resulted in purchase orders, highlighting strong interest from clients. Leslie Hoyt, iSpecimen’s Senior Vice President of Operations, noted the enthusiastic customer response, emphasizing how rapid quoting enhances the likelihood of securing purchase agreements.
Continuing its commitment to operational efficiency, iSpecimen aims to refine its resources and search capabilities associated with the NDQ program. By alleviating operational bottlenecks and enabling faster decision-making, the company strengthens its role as a crucial partner in the biospecimen marketplace, facilitating significant advancements in medical research.