HomeFinancial MarketsAnPac Bio Inc. (ANPC) stock plunge during pre-market trading session. Here’s what’s...

AnPac Bio Inc. (ANPC) stock plunge during pre-market trading session. Here’s what’s happening?

AnPac Bio Inc. (NASDAQ: ANPC) stock gained by 4.26% at last close whereas the ANPC stock price declines by -3% in the pre-market trading session. AnPac Bio is a biotechnology business that focuses on early cancer diagnosis and screening. As of March 31, 2021, the company had 142 issued patents. AnPac Bio performs a variety of cancer screening and detection tests at one CLIA and CAP-registered clinical laboratory in the United States and two certified clinical laboratories in China.

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ANPC stock’ Current Update

AnPac Bio-Medical Science (Lishui) Co. Ltd., a subsidiary of AnPac Bio-Medical Science, has raised its stake in AnPai (Shanghai) Healthcare Management Consultant Co. Ltd., one of its subsidiaries, after the company audit committee and board of directors approved the increase. The company declared that it completed the share structure registration change with the local Administration Management Bureau in late August 2021.

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Prior to making the decision, firm executives carried out extensive due diligence, which included financial and legal audits as well as appraisals by a trained appraiser. AnPac Bio-Medical Science is a biotechnology firm based in both China and the United States. AnPai is a distributor of AnPac Bio’s cancer test products, and it has had a strong three-year run with constant revenue and client growth. AnPac Bio expects AnPai to provide potential access to a broader range of clients, resulting in greater customer channels and sales capability, according to the statement.

AnPac Bio CEO and chair Dr. Chris Yu commented,

AnPac Bio is ecstatic to have reached this milestone. Through this deal, they are able to successfully integrate with AnPai’s diverse customer base and rapid revenue growth. Through their increased share ownership, they will accomplish faster and greater success and development in the diversity of their clients and the professionalism of their services, as well as predicted sustainable revenue growth. AnPac Bio’s CDA technology, they think, will help customers.

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