Biomedical firm Femasys' Q3 revenue slumps on lower international orders
FEMY•FEMY•FEMY•FEMY•Femasys' third-quarter revenue fell 44.5% year over year as international orders declined, while its net loss widened to $4.6 million, or $0.53 per share; the company completed a $30 million private placement.
Femasys said third-quarter revenue fell 44.5% year over year, citing the timing of international FemBloc orders. Distributors used existing inventory for post-market studies. The net loss widened to $4.6 million, or $0.53 per share.
The company completed a $30 million private placement to fund its U.S. commercial team and a pivotal trial. Femasys expects broader adoption and revenue growth as the team is deployed, and anticipates international distributor reorders after FemBloc post-market studies are completed. It attributed higher research and development expenses to increased clinical and compensation costs as development products moved toward commercialization.
