Business
Femasys Inc. Announces Financial Results for the Second Quarter of 2021
Completed initial public offering (“IPO”) raising net proceeds of $31.6 million Appointed Anne Morrissey to the Board of Directors, an industry expert with
About this update from Femasys Inc.
[{"type":"text","content":"Completed initial public offering (“IPO”) raising net proceeds of $31.6 million Appointed Anne Morrissey to the Board of Directors, an industry expert with decades of medical device experience Initiated 792-patient, pivotal LOCAL trial after receipt of investigational device exemption (IDE) submission approval for FemaSeed™ ATLANTA, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Femasys Inc. (NASDAQ: FEMY), a biomedical company developing a suite of product candidates to transform women’s healthcare with minimally invasive, non-surgical, in-office technologies, today announced financial results for the second quarter and six months ended June 30, 2021. “This is an exciting time of growth for Femasys after becoming a publicly traded company on June 18th,” stated Kathy Lee-Sepsick, president, chief executive officer and founder of Femasys. “We are galvanizing on all fronts to advance FemaSeed™, our localized directional insemination product candidate that is part of our fertility portfolio, through clinical development and are thrilled to have treated the first patient in our prospective, multi-center pivotal LOCAL trial in July.” Ms. Lee-Sepsick, further commented, “We are continuing our clinical work with FemBloc®, our permanent birth control product candidate, in preparation for an IDE submission for a pivotal trial planned for next year. Both reproductive products may provide women access to superior technologies and increase their options related to reproductive care. We remain enthusiastic and poised to address the vast underserved markets within women’s health worldwide with our next-generation medical solutions.” Recent Corporate Developments On June 17, 2021, Femasys announced the pricing of its initial public offering of 2,650,000 shares of its common stock at a public price of $13.00 per share. The net proceeds to Femasys from the offering, after deducting the underwriting discounts and commissions and legal expenses, totaled $31,613,500. Shares began trading on the Nasdaq Capital Market on June 18, 2021, under the ticker symbol “FEMY”. The offering closed on June 22, 2021. On June 24, 2021, Femasys announced the appointment of Anne Morrissey to the company’s board of directors. Ms. Morrissey brings decades of experience to Femasys. Most recently, Anne served as President and Chief Executive Officer of Alydia Health from 2016 to 202...