Femasys Inc. (FEMY), a biomedical company, has surged by 7.48% in aftermarket trading session. Consequently, the stock is trading at $3.45 at the time of the writing. The share price has soared since the market analysts placed a “buy” signal for FEMY stock, causing the shares to be bought in huge volumes. On Tuesday, FEMY closed the day at $3.21 after a slight increase of 0.78% during regular trading hours. For the moment, let’s dive deeper into some recent developments of the stock.
Q3 2021 Operational Results
In early November, FEMY released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company generated net sales of $0.26 million during the quarter against $0.31 million for the same quarter of 2020. The total operating expenses for the three months were $2.41 million against $1.78 million for the same three-month period of 2020. The net loss for the period was $2.25 million (or $0.19 per basic and diluted share) against $1.56 million (or $1.64 per basic and diluted share) for the same period of 2020.
FEMY Financial Performance
Alongside the operational results, FEMY also released the financial results of the company. On the 30th of September, the company had cash and cash equivalents of $27.28 million. The total current assets in possession of the company on the said date were $28.33 million, while the total assets were estimated to be $31.16 million. The current liabilities payable by the company were $1.82 million, while the total liabilities were $2.51 million. The total shareholders’ equity on the 30th of September was estimated to be $28.65 million.
Kathy Lee-Sepsick, president, chief executive officer, and founder of FEMY, while commenting on the results said that the company has gained substantial traction for its product candidates that have the potential to provide women access to superior technologies and revolutionize their options related to reproductive care. Looking ahead, the company is gearing up for the pivotal trial planned for next year associated with its planned IDE submission for FemBloc®.
What’s Ahead for FEMY?
The last three months have seen FEMY stock decline by approximately 50%, the reason being uncertainty associated with the trials of the company, causing investors to sell off their shares in huge proportions. Looking ahead, however, things look to be on a better side for FEMY as the company hopes that the stock would see positive times during the upcoming months.