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Femasys | 8-K: Current report

SEC announcement ·  Mar 28 16:32
Summary by Moomoo AI
On March 28, 2024, Femasys Inc., a biomedical company specializing in women's healthcare solutions, announced its financial results for the fiscal year ending December 31, 2023. The announcement, which was made in a press release furnished as Exhibit 99.1 to the Current Report on Form 8-K, highlighted several key developments and financial metrics. The company reported a net loss of $14.2 million, or $0.93 per share, compared to the previous year's net loss of $11.4 million, or $0.96 per share. Despite an increase in research and development expenses to $7.2 million, sales decreased slightly to $1.07 million. Femasys ended the year with $21.7 million in cash and cash equivalents and expects these funds to sustain operations into the second half of 2025. The report also included updates on the company's...Show More
On March 28, 2024, Femasys Inc., a biomedical company specializing in women's healthcare solutions, announced its financial results for the fiscal year ending December 31, 2023. The announcement, which was made in a press release furnished as Exhibit 99.1 to the Current Report on Form 8-K, highlighted several key developments and financial metrics. The company reported a net loss of $14.2 million, or $0.93 per share, compared to the previous year's net loss of $11.4 million, or $0.96 per share. Despite an increase in research and development expenses to $7.2 million, sales decreased slightly to $1.07 million. Femasys ended the year with $21.7 million in cash and cash equivalents and expects these funds to sustain operations into the second half of 2025. The report also included updates on the company's products, such as the FDA clearance of FemaSeed for infertility treatment and the ongoing pivotal trial for FemBloc, a non-surgical birth control solution. The company appointed new executives, including a Chief Commercial Officer and Chief Medical Officer, to support its commercial initiatives. The full financial details are available in the company's Form 10-K filed on the same date.

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