aibioiSpecimen signs $2,000,000 investor relations consulting agreement
Tickers ISPC
IR Agency LLC will provide news distribution for up to ten releases over a three-month term, and the fee is fully earned on receipt.
Key facts
- Company
- iSpecimen Inc. (NASDAQ: ISPC)
- News type
- Company Updates
- Primary source
- Form 8-K
iSpecimen Inc. entered into a Consulting Agreement dated August 12, 2026 with IR Agency LLC. The company reported the agreement in a Form 8-K signed August 14, 2026 by Katharyn Field, chief executive officer. Under the agreement, the consultant will provide marketing and advertising services designed to communicate information about iSpecimen to the financial community. The services include company profiles and media distribution. The 8-K was filed under Item 1.01, which covers entry into a material definitive agreement, and Item 9.01, which lists exhibits. The cover page identifies iSpecimen as a Delaware corporation with offices at 8 Cabot Road, Suite 1800, Woburn, Massachusetts 01801, and marks the company as an emerging growth company.
The services and the fee
The agreement has a three-month term that began August 12, 2026. During that term the consultant will provide marketing and news distribution services for a maximum of ten news releases. The consultant is an independent contractor, and its services are non-exclusive. The company may ask to extend the term for months in which no news distribution services are performed. Any additional or out-of-scope services are subject to separate compensation arrangements.
The company agreed to pay the consultant an aggregate cash fee of $2,000,000 by August 13, 2026. The fee is fully earned on receipt and is non-refundable.
Termination and conditions
Either party may end the agreement at any time, with or without cause, on written notice. If the company terminates during the initial term, it is not entitled to a refund of any part of the fee. The consultant may suspend or end its services immediately if it believes continued performance could expose it to legal, regulatory or reputational risk. No refund is owed in that case.
The consultant agreed that it will not solicit orders, make investment recommendations, provide investment advice or effect securities transactions. It also agreed to comply in all material respects with applicable U.S. securities laws. The agreement includes provisions on the accuracy and approval of company information and promotional materials, paid-promotion disclosures, confidentiality and material non-public information, and company indemnification. It also limits the consultant's liability and sets binding arbitration in New Jersey. The full text is filed as Exhibit 10.1 to the 8-K, and the filing includes the cover page interactive data file. The cover page lists the company's common stock, par value $0.0001 per share, as registered under Section 12(b) of the Exchange Act and traded on The Nasdaq Stock Market LLC under the symbol ISPC.
The filing does not say how the company will account for the fee, and it does not name the topics of the releases. The exhibit index in Item 9.01 lists Exhibit 10.1 as the Consulting Agreement dated August 12, 2026, by and between iSpecimen Inc. and IR Agency LLC, and Exhibit 104 as the cover page interactive data file. The fee is a cash payment, and the filing sets no payment schedule beyond the August 13, 2026 date.
What the money buys
The fee is large next to the company's size. It is $2,000,000, due in full within a day of signing and not refundable, for a maximum of ten news releases over three months, and the filing names no results the consultant must deliver. The consultant may also stop work at any time if it sees legal, regulatory or reputational risk, with no refund. The agreement is paid-promotion work, not a source of revenue or capital. Cash and cash equivalents were $4.4 million at June 30, 2026, so the fee is a sizable draw on a balance that was already being spent, and the filing does not say where the money comes from.
Financial position
The company's 10-K for 2025, filed April 1, 2026, reported revenue of $1.9 million for 2025, against $9.3 million for 2024. Its net loss was $10.5 million in 2025, compared with $12.5 million in 2024. Cash from operations was negative $4.2 million in 2025 and negative $8.3 million in 2024. Year-end cash and cash equivalents were $6.9 million at the end of 2025, up from $1.9 million a year earlier. Research and development expense was $1.5 million in 2024.