Core Insights - Aspira Women's Health Inc. reported a significant growth in product volume, with a more than 26% increase in May 2024 compared to January 2024, and an 88% year-to-date increase in OvaWatch volume compared to the same period in 2023 [1][2][3] Group 1: Product Performance - Monthly product volume for OvaSuite grew by over 26% in May 2024 compared to January 2024 [1] - Year-over-year growth in monthly product volume per full-time sales representative increased to 569 for the five months ended May 2024, up from 484 for the same period in 2023 [2] - OvaWatch volume year-to-date through May 2024 is up by more than 88% compared to the same period in 2023 [2] Group 2: Sales Strategy and Market Expansion - The company is focusing on a leaner sales team, with approximately 20% of the 19-person team being cost-effective inside sales representatives [2] - The addressable market for OvaWatch is estimated to be between 2 to 4 million tests per year, significantly larger than the Ova1Plus® market of approximately 200,000 tests per year [3] - Aspira's expansion into the Philippines is on track for a commercial launch of OvaWatch in the third quarter, with expected higher margins compared to the U.S. market [3] Group 3: Reimbursement Developments - Aspira executed an OvaSuite contract with Anthem Plans, adding over 2 million covered lives, with expectations to add up to 16 million covered lives in the coming quarters [4][5] - Medicaid coverage for OvaWatch has expanded in Maryland and Kentucky, adding the test to the fee schedule at $897 per test, now covering nine states [4] Group 4: Financial Guidance - The company anticipates a downward revision of the 2024 cash used in operations guidance during the second quarter 2024 earnings call [6]
Aspira Women's Health Provides Commercial, Reimbursement and Cash Guidance Updates