Summary by Futu AI
Femasys Inc. reported Q3 2024 revenue of $554,908, up 127% YoY, driven by initial commercial sales of FemaSeed infertility treatment and increased FemVue sales. The quarter marked the first U.S. and international sales of FemaSeed following FDA clearance in September 2023, with strategic distribution partnerships established in Spain expected to generate over $1.3 million in the next year.Operating expenses increased 29.3% to $5.48 million, primarily due to a $1.5 million rise in sales and marketing costs as the company built out its commercial team. R&D expenses grew 11.1% to $2.3 million focused on advancing the FemBloc permanent birth control pivotal trial. Net loss widened to $5.41 million from $4.0 million last year.The company ended Q3 with $7.61 million in cash and cash equivalents, which management expects will fund operations into July 2025. However, Femasys indicated substantial doubt about its ability to continue as a going concern beyond 12 months without additional financing. The company is exploring various funding options while advancing commercialization of FemaSeed and clinical development of FemBloc.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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