From GlobeNewswire: 2024-05-15 07:30:00

Aspira Women’s Health Inc. reported a Q1 2024 revenue of $2.2 million with 5,829 units sold. A 22% decrease in cash utilization was noted compared to Q1 2023. OvaWatch volume saw a 114% increase and cost reductions across the company continued. A study showed OvaWatch could reduce surgeries by 62%. A partnership with Anthem Blue Cross in California for reimbursement coverage was announced. Gross profit margin was 56% for Q1 2024, an increase from 2023. Research and development expenses decreased by 28%, marketing expenses down by 27%, and administrative expenses decreased by 13% in Q1 2024. Cash used in operating activities decreased by 22% compared to Q1 2023. Total cash as of March 31, 2024, was $3.7 million. The company raised $5.6 million in gross proceeds in a registered direct offering during Q1 2024. The operating cash utilization target for 2024 remains between $15 million and $18 million. A conference call and webcast are scheduled for May 15, 2024, at 8:30 am ET. Investors and interested parties can participate in the conference call. Aspira Women’s Health Inc. is a company focused on developing non-invasive, AI-powered tests for the detection of gynecologic diseases, including ovarian cancer and endometriosis. Their OvaSuiteSM portfolio offers comprehensive blood tests to aid in the diagnosis of ovarian cancer, with a negative predictive value of 99%. They are dedicated to providing innovative solutions for women’s health.



Read more at GlobeNewswire:: Aspira Women’s Health Reports First Quarter 2024 Financial