Shares of AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) -a biotechnology company with operations in China and the U.S. focused on early cancer screening and detection- are in demand after it announced today that it has entered into a three-year strategic cancer screening collaboration contract with Beijing Yuan Jian Health Management Co., Ltd. in China, which has been a client of the Company for the past two years.
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 slightly over US$3 million and exceeds the previous contract by more than double the number of paid tests per year.
“Our novel cancer screening technology and tests are receiving increasing acceptance from the healthcare market. Due to our CDA tests’ outstanding performance and competitive costs, we expect to see significant continued market opportunities and growth potential in China.”-said AnPac Bio’s CEO, Dr. Chris Yu
ANPC stock lost 50% of its value year-to-date but it gained almost 20% during pre-market session on Friday.