The following is a summary of the Aspira Women's Health Inc. (AWH) Q4 2023 Earnings Call Transcript:
Financial Performance:
Aspira achieved a revenue growth of 15% in 2023 driven by its OvaSuite suite of products.
The average full-year OvaSuite test volume per full-time sales representative increased by 50%.
The average unit price grew from $372 in 2022 to $383 in 2023, a sharp increase credited to the improving market access.
The Q4 2023 OvaSuite revenue was $2.1 million, remaining flat when compared to Q4 in 2022, but saw an overall annual growth with OvaWatch and average unit price increase.
Cash used in operating activities decreased significantly by 49% in 2023 compared to the previous year.
Business Progress:
Aspira is developing AI-based assays to enhance the diagnosis of gynecologic diseases.
Manuscripts discussing the work on OvaWatch are under review for publication.
OvaMDX, a collaboration with the Dana Farber Cancer Institute, is expected to be finalized by the end of 2024.
Progress in endometriosis testing has been positive with the EndoCheck assay development on track together with the development of EndoMDX.
Aspira has introduced Dr. Sandra Milligan as President to expedite their launch plans and secure new innovation and business partnerships.
In 2023, Aspira further expanded its sales territory and team, and plans to continue this expansion into 2024.
With the launching of the first-ever protein-based blood test for diagnosing endometriosis and endometrioma, Aspira has shown transformative innovation, which has garnered significant interest in the medical community.
More details: Aspira Women's Health IR
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