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The company said that as of the end of 2024, it had an accumulated deficit of $127.2 million and cash and cash equivalents of only $3.5 million.
Shares of Femasys Inc. (FEMY) tumbled nearly 14% on Thursday after the company’s 2024 earnings fell below Wall Street estimates.
The company reported a 52% jump in annual sales to $1.62 million compared to 2023, but failed to meet an analyst estimate of $2.71 million, according to FinChat data.
The loss per share of $0.85, though lower than the $0.93 reported in 2023, exceeded an estimated loss of $0.80.
The company said that as of the end of 2024, it had an accumulated deficit of $127.2 million and cash and cash equivalents of only $3.5 million.
Femasys said its current cash and cash equivalents, which includes approximately $5.4 million raised subsequent to year-end, will be sufficient to fund its ongoing operations into third quarter of 2025.
The company focuses on addressing critical unmet needs in women’s health with a broad, patent-protected portfolio of disruptive, accessible, in-office therapeutic and diagnostic products.
Femasys CEO Kathy Lee-Sepsick said that the company is focused on commercializing FemaSeed, its first-line infertility treatment, and expects U.S. revenue to increase by about 50% in the first quarter of 2025 compared to the previous quarter.
“We are continuing to advance our FemBloc to commercialization in Europe while executing on the clinical pivotal trial for U.S. FDA approval,” she added. FemBloc is the company's non-surgical permanent birth control.
On Stocktwits, retail investor sentiment about Femasys dropped slightly in the ‘bullish’ territory (56/100) while message volume dropped from ‘high’ to ‘normal’ over the past 24 hours.
A Stocktwits user noted the company’s increase in annual sales and opined that the company is “heading in the right direction for sure.”
Another user highlighted they were buying the stock.
FEMY shares have gained over 19% this year but have lost nearly 11% over the past 12 months.
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