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Aspira Women’s Health, Inc. (AWH) stock soared today; here’s why it happened

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Aspira Women’s Health Inc. (AWH) stock were rising 32.64% to trade at $8.9 in after-market at last check. The recent stock movement pattern comes adjacent to the news of the Aspira Women’s Health Inc. announcing their financial results for the fourth quarter and Full Year 2020 report.

AWH’s stock gained 1.67% to close Thursday’s session at $6.71. The stock volume remained 1.48 million shares, which was higher than the average daily volume of 0.89 million shares within the past 50 days. AWH shares have risen by 852.31% over the last 12 months, and they have moved down by -10.89% in the past week. Over the past three months, the stock has gained 2.29%, while over the past six months, it has shed 164.17%. Further, the company has a current market of $761.79 million and its outstanding shares stood at 103.20 million.

Overviews of Aspira’s operational fundamentals

Aspira (AWH) is a bio-analytical healthcare company with 10 years of expertise in ovarian cancer detection, risk assessment, and treatment optimization. AWH specifically focuses on women hygiene and gynecologic diseases. Aspira is transforming the way women’s health is approached by providing testing options and bio-analytical solutions through innovation in discovering pattern, development, and commercialization. This overall helps the doctors and physicians analyze efficiently the risks and diagnoses for gynecologic diseases, and provide the optimum treatment and health management options for the patients.

Recent developments and product offerings

Aspira has created OVA1and OVERA and has commercialized its worldwide manufacturing for the detection of ovarian malignancy risk. The bio-analytical company has combined OVA1 and OVERA to produce OVA®1 plus which discovers the malignancy risks in adnexal masses for women. Aspira spends its money on research and development to produce risk assessment products for early-stage detection and treatment of diseases.

The company has announced the revamping of speed of launch for the product OVASight. Furthermore, it has announced a strategic partnership/collaboration with Dana Farber Cancer Institute (DFCI).

Aspira aspiring towards positive revenue and sales growth for 2021

The CEO of Aspira’s statement regarding overall financial report suggests a positive growth in fundamentals despite pandemic, in terms of revenue, production volume, and financial stability.

In terms of revenue Highlights;

  • The total revenue increased in fourth quarter 2020 to $1.41 million due to increased product volume. This is an 11% increase from $1.3 million of fourth quarter 2019.
  • The total revenue in the Full Year 2020 is $4.6 million which is a 5% increase from 2019.

With regards to expansion of its operations, Aspira has announced that by 1st April, it will have coverage of New York State Medicaid that covers 33% population in the state. With this coverage, AWH will be covering 179 million lives which are roughly equal to 50% of the US population.

Furthermore, the sales footprint also seem to get a solid hold in the stock market as on 8th February, another AWH common stock offering was completed. This offering resulted in the net proceeds approximating $48.4 million.

Coverage expansion and partnership making way for growth in AWH stock

Valerie Palmieri (CEO) stated that OVASight has been assigned the target launch date for the fourth quarter of 2021 while predicting that by 2022 it will have full national availability. The test is created uniquely to increase the base of the malignancy detection in women by specifically targeting the population with a low prevalence of the disease. An addition of 1.2 to 1.5 million women will incur in the base of malignancy detection.

Along with DFCI, Aspira is also in collaboration with Brigham and Women’s Hospital, and Medical University Lodz to evaluate a combined technology product. This biotech combined product is for the development of a highly sensitive and specific (Proteomic and Transcriptomics) early detection test. It combines Aspira and the other healthcare firms’ microRNA technology to help doctors make an early assessments of high-risk ovarian cancer in women.

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