AnPac Bio-Medical Sciences Inc. (NASDAQ: ANPC) stock declined by 4.98% at last close however the ANPC stock price gains by 6.96% in the pre-market trading session. AnPac Bio is a biotechnology firm that focuses on early cancer diagnosis and screening.
As of March 31, 2021, the company had 142 granted patents. AnPac Bio conducts a suite of preventive care and detection tests, such as CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests, in two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory and one CLIA authorized clinical laboratory in the United States.
What is happening?
AnPac Bio-Medical Science stated today that it had an excellent increase in test volume during the first half of 2021, with the total number of paying customers and testing volume up over 110 percent from the same time in 2020. In addition, ANPC’s total paid tests and paid cancer tests grew by about 280 percent and 270 percent, correspondingly, in the second quarter of this year (quarter over quarter). Other testing, such as new test items introduced in 2020, have risen in popularity alongside commercial cancer screenings.
Despite the enormous market possibilities, improved customer and market acceptance, and the fact that AnPac Bio has traditionally experienced higher test volume in the second half of the year than in the first, ANPC anticipates a robust test growth rate to continue this year.
AnPac Bio’s CEO, Dr. Chris Yu stated,
In the first half of 2021, they are quite happy with their excellent test volume rise. Their multi-cancer, high-performance cancer test kits, they feel, are garnering greater customer and market acceptability. They will work diligently to maintain commercialization in China and obtain LDT clearance in the United States, allowing them to expand their revenue even faster.