Femasys reports sales increase, partnerships, R&D expenses rise, net loss, and cash reserves

From GlobeNewswire: 2024-11-12 08:30:00

Femasys Inc. (NASDAQ: FEMY) reported financial results for Q3 2024, including a 127.1% sales increase to $554,908. The company also announced strategic partnerships for its products, generating over $1.3 million in Spain. Femasys’ CEO highlighted commercial milestones achieved with FemaSeed and FemVue products, anticipating further growth.

In Q3 2024, Femasys’ research and development expenses increased by 11.1% to $2,303,241. The net loss for the quarter was $5,408,860, compared to $3,996,905 in Q3 2023. The company’s cash and cash equivalents were $7.6 million as of September 30, 2024, with an accumulated deficit of $122.1 million.

For the nine months ended September 30, 2024, Femasys reported a 22.0% increase in sales to $1,047,532. Research and development expenses increased by 17.8% to $6,049,847. The net loss for this period was $13,692,944, compared to $9,836,670 in the same period of 2023. The company expects its cash reserves to fund operations into July 2025.



Read more at GlobeNewswire:: Femasys Announces Financial Results for Quarter Ended