Summary by Moomoo AI
Femasys reported Q3 2024 sales of $554,908, up 127.1% YoY, driven by initial commercialization of FemaSeed infertility treatment and increased FemVue sales. The company secured strategic partnerships with Boston IVF and distributors in Spain, with Spanish partnerships expected to generate over $1.3 million in the next year.R&D expenses increased 11.1% YoY to $2.3 million, while net loss widened to $5.4 million ($0.24 per share) from $4.0 million ($0.26 per share) in Q3 2023. The company received FDA 510(k) clearance for FemChec and CE Mark certification for FemVue MINI during the quarter.As of September 30, 2024, cash and cash equivalents stood at $7.6 million, expected to fund operations into July 2025. The company's accumulated deficit reached $122.1 million, with management focused on expanding commercial partnerships and advancing its women's health product portfolio.
