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Why is Femasys Inc (FEMY) Stock down?
Femasys Inc Stock (FEMY) dropped by 10.58% from $1.04 to $0.93 in the trading on Tuesday November 14, 2023. The reason why FEMY stock down today is due to its third-quarter 2023 financial results. Femasys Inc., a clinical-stage biopharmaceutical company developing novel therapies for women's health, today announced its financial results for the third quarter of 2023.
- Decreased revenue: Revenue: $244,360, a decrease of 29.7% from the same period in 2022. The decline in revenue was primarily due to lower sales of the lead product
- GAAP EPS: -$0.26, compared to -$0.16 in the third quarter of 2022. Net loss: $3.9 million, compared to $2.4 million in the third quarter of 2022.
- Outlook: Femasys expects to report full-year 2023 revenue of $1.0 million to $1.2 million. The company is also planning to initiate a Phase 2 clinical trial of its investigational drug for the treatment of bacterial vaginosis in 2024.
Femasys Inc Stock (FEMY) dropped by 6.50% from $0.46 to $0.43 in the trading on Thursday August 10, 2023. The reason why FEMY stock down today is due to its missed Q2 earnings results.
- The company reported a GAAP EPS of -$0.22, missing analyst expectations by $0.02. Revenue for the quarter came in at $0.32 million, also missing analyst estimates by $0.05 million.
- Research & Development expenses increased by $54,248 to $1,527,172 for the quarter compared to $1,472,924 for the same period in 2022. The increase relates primarily to increased compensation and related personnel, professional and outside consultant costs, mostly offset by reduced clinical-related costs.
Femasys Inc Stock (FEMY) dropped by 22.61% from $1.26 to $0.9751 in the trading on Wednesday April 19, 2023. The reason why FEMY stock down today is due to the announcement of an equity offering. Femasys is selling shares of common stock at a purchase price of $1.22 per share and warrants to raise $3.9M in a registered direct offering and concurrent private placement. The proceeds will be used for working capital and general corporate purposes.
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