2020 IPO Next-Gen Cancer Screening AnPac Sees Growth in US and China
The announcement that AnPac Bio-Medical Science Co. Ltd. (NASDAQ: ANPC) has entered into a three-year strategic cancer screening collaboration contract with Beijing Yuan Jian Health Management in China lit a fire under the shares Friday morning.
In terms of the specifics, this contract contains a minimum of 76,000 paid cancer screening tests, including at least 6,000 paid tests in 2020, 25,000 paid tests in 2021 and 45,000 paid tests in 2022.
The total value of the contract is valued just over $3 million and exceeds the previous contract by more than double the number of paid tests per year. Note that the company currently has a market cap of $90 million.
Looking ahead, AnPac Bio is pushing ahead with its commercialization plan of CDA cancer screening tests in the United States, with ongoing commercialization efforts at its San Jose lab and the opening of its second lab at Philadelphia.
Beijing Yuan Jian Health Management is a Chinese health management firm. It has collaborated with various academic and medical institutions, including universities, hospitals and other health care organizations in China and the United States.
AnPac is a biotechnology company focused on early cancer screening and detection. It has 121 issued patents, two certified clinical laboratories in China and one CLIA and CAP-accredited clinical laboratory in the United States.
AnPac Bio-Medical Science stock traded up about 18% Friday morning, at $8.05 in a 52-week range of $5.22 to $12.18. The consensus price target is $18.00.