Femasys Announces Financial Results for Year Ended December 31, 2024, and Provides Corporate Update

Core Insights - Femasys Inc. has achieved significant regulatory and commercial milestones for its FemBloc and FemaSeed products, with expectations of a 50% increase in U.S. revenue for FemaSeed in Q1 2025 compared to Q4 2024 [3] - The company has received approval for FemBloc in Europe and is advancing its clinical trial for U.S. FDA approval, indicating a strong commitment to addressing women's reproductive health needs [3][6] - Financial results for 2024 show a sales increase of 52% to $1.63 million, while net loss increased to $18.82 million, reflecting ongoing investment in research and development [7][11] Company Developments - Femasys announced partnerships for the distribution of FemBloc in Spain and with CNY Fertility for FemaSeed, expanding its market reach [6] - The company has received regulatory approvals for FemaSeed in the UK and Israel, and has published positive clinical trial results for both FemBloc and FemaSeed [6][12] - The FemBloc delivery system is noted as the first non-surgical, in-office permanent birth control method, with expected CE mark approval pending [13] Financial Performance - Sales increased by $557,138, or 52%, from $1.07 million in 2023 to $1.63 million in 2024 [7] - Research and development expenses rose by $1.01 million, or 14%, to $8.22 million in 2024 [7] - As of December 31, 2024, cash and cash equivalents were $3.5 million, with an accumulated deficit of $127.2 million, but the company expects sufficient funds to operate into Q3 2025 [7][9]