JonesTrading cuts PT for Femasys on clinical trial delays
25/03/2022 11:27
** JonesTrading slashes PT on women's healthcare firm
Femasys Inc FEMY.O to $13 from $18 on clinical trial delays
and the continued selloff across the healthcare industry
** Interim efficacy data from pivotal trial of co's
infertility treatment, FemaSeed, is now expected in Q4 versus
prior guidance of Q1
** Patient recruitment was significantly impacted by latest
COVID surge, which is in line with what is seen across other
clinical trials, particularly in elective procedures - co
** However, brokerage says enrollment appears to be
accelerating now following a decline over the winter months,
putting Femasys on track
** Says given FemaSeed's ease of use and reasonable price
point, even a modest improvement over intrauterine insemination
rates could warrant adoption as first-line infertility treatment
** Femasys ended 4Q21 with $24.8 mln in cash and cash
equivalents
** Stock down ~41% YTD as of last close
(Reporting by Mrinalika Roy in Bengaluru)
((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))