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Femasys Inc., a leading biomedical company, has filed an amended Form 8-K/A with the SEC to correct previously reported dates. The amendment, dated November 12, 2024, rectifies the 'Date of Report' and related references from August 12, 2024, to the correct date of November 12, 2024. Alongside this administrative correction, Femasys announced its financial results for the third quarter ended September 30, 2024.
The company reported a significant increase in sales, primarily attributed to its FemaSeed and FemVue products, with sales rising by 127.1% to $554,908 compared to the same quarter in the previous year.
However, the company also experienced an increase in research and development expenses and reported a net loss of $5,408,860 for the quarter.
Despite the loss, Femasys highlighted several commercial milestones, including the launch of FemaSeed in the U.S. and Europe, strategic distribution partnerships, and regulatory approvals for its products.
CEO Kathy Lee-Sepsick expressed optimism about the company's commercial progress and upcoming collaborations.
The company's cash reserves are expected to fund operations into July 2025.
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