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- Delisting (new) — Company received formal Nasdaq notice of non-compliance with minimum equity requirement, triggering delisting process.
iSpecimen receives Nasdaq delisting notice for failing $2.5M equity requirement
Filed June 1, 2026 · Period ending May 29, 2026 · ~1 min read
Key Changes
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Nasdaq notified iSpecimen on May 29, 2026 that it no longer meets the minimum $2.5M stockholders' equity requirement for continued listing on the Capital Market.
Item 3.01 verify on EDGAR → -
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Company's stockholders' equity stands at only $814,038 as of March 31, 2026—approximately 67% below the required minimum, indicating significant financial weakness.
Item 3.01 verify on EDGAR → -
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iSpecimen fails to meet any of Nasdaq's alternative listing standards (market value, net income, or equity), limiting options to maintain its listing.
Item 3.01 verify on EDGAR → -
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Company has 45 days to submit a compliance plan and may receive up to 180 days to regain compliance if accepted, though success is not assured.
Item 3.01 verify on EDGAR → -
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Stock continues trading normally on Nasdaq under ticker ISPC during the compliance period with no immediate impact on listing status.
Item 3.01 verify on EDGAR →
Summary
iSpecimen received a formal deficiency notice from Nasdaq on May 29, 2026, stating the company no longer meets the minimum $2.5 million stockholders' equity requirement for continued listing on the Nasdaq Capital Market. With equity of just $814,038 as of March 31, 2026, the company falls short by approximately $1.7 million—a 67% deficit that signals serious financial strain.
Making matters worse, iSpecimen doesn't qualify under any of Nasdaq's alternative listing standards based on market value or profitability. The company now has 45 days to submit a compliance plan outlining how it will rebuild its equity position, and if accepted, could receive up to 180 days to execute the plan.
However, management explicitly warns there's no guarantee Nasdaq will accept the plan or that the company will successfully regain compliance. For now, ISPC shares continue trading normally on Nasdaq, but the delisting threat is real. Retail investors should watch for the compliance plan submission and Nasdaq's response in the coming weeks. The company will likely need to raise capital through equity offerings, secure debt financing, or achieve a dramatic operational turnaround—any of which could significantly dilute existing shareholders or fail to materialize in time.
Section-by-Section Diff
Event · Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule
iSpecimen received Nasdaq delisting notice for failing to maintain minimum $2.5M stockholders' equity; has 45 days to submit compliance plan.
Added in current filing · verify on EDGAR →
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”).
iSpecimen received formal notice from Nasdaq that it fails to meet the minimum stockholders' equity requirement of $2,500,000 for continued listing. The company has 45 calendar days to submit a compliance plan and may receive up to 180 days to regain compliance if the plan is accepted.
Added in current filing · verify on EDGAR →
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.
iSpecimen fails to meet any of Nasdaq's alternative continued listing standards, meaning the company cannot qualify through market capitalization or profitability routes either. This limits the company's options for maintaining its listing to successfully executing a compliance plan focused on rebuilding equity.
Added in current filing · verify on EDGAR →
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.
The company plans to submit a compliance plan within 45 days but explicitly states there is no assurance of acceptance or ultimate success. If the plan is rejected, the company can appeal to a Nasdaq Hearings Panel, but failure to regain compliance could result in delisting from the Nasdaq Capital Market.
Added in current filing · verify on EDGAR →
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.”
Despite the deficiency notice, iSpecimen's stock continues to trade normally on Nasdaq under ticker ISPC during the compliance period. However, investors should be aware that delisting risk exists if the company cannot remedy the equity deficiency within the allowed timeframe.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 1, 2026 · How we verify