Maxim Group analyst Jason McCarthy has maintained their bullish stance on FEMY stock, giving a Buy rating today.
Jason McCarthy’s Buy rating for Femasys (FEMY) is influenced by several factors. Primarily, the company’s financial situation is sound, having reported Q3 2023 revenue of $244.4k and a net loss of $4.0M, closing the period with $8.7M cash-on-hand. Importantly, this does not include the additional $11.3M the firm secured after the quarter concluded through warrant exercises and share sales, which should extend their financial runway into the second half of 2024. This is especially significant as it includes the anticipated 2024 launch of FemaSeed, the company’s FDA-approved infertility treatment.
Another factor contributing to the Buy rating is the progress of Femasys’s products. FemaSeed, a novel artificial insemination treatment which received FDA clearance in September 2023, is expected to enhance pregnancy success rates due to its innovative approach of delivering sperm directly to the fallopian tube. This is a significant improvement over the current standard of intrauterine insemination which has lower efficacy rates. The company’s non-surgical permanent birth control treatment, FemBloc, is also making progress, currently undergoing a pivotal study named ‘FINALE’. The first patient enrollment was announced recently and updates are expected as the study progresses. These promising developments of Femasys’s products further solidify the Buy rating.
In another report released today, H.C. Wainwright also assigned a Buy rating to the stock with a $10.00 price target.
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Femasys (FEMY) Company Description:
Femasys Inc is a biomedical company focused on transforming women’s healthcare by developing solutions and advancements providing clinical impact to address severely underserved areas. Its mission is to provide women with minimally-invasive, non-surgical product technologies, accessible in the office, improving patient care and overall health economics.
Read More on FEMY:
- Femasys Inc. Secures Additional Financing with Strategic Investment from Investors led by PharmaCyte Biotech
- Femasys reports Q3 EPS (26c), consensus (22c)
- Femasys Inc. Announces Financial Results for the Third Quarter Ended September 30, 2023 and Provides Corporate Update
- Femasys completes EU MDR final audit
- Femasys Inc. EU MDR Final Audit Successfully Completed
