Wainwright cheers Femasys' infertility, birth control treatment
24/03/2022 13:55
** Shares of women's healthcare firm Femasys Inc FEMY.O
jump up to 8.5% in early trade to hit three-week highs; last at
$2.40
** Wainwright starts with "buy" and PT of $8; stock's median
PT is $21.5 as per average of two brokerages - Refinitiv data
** Wainwright sees potential in co's birth control, FemBloc,
and infertility treatment, FemaSeed; says FemBloc has potential
to be only permanent non-surgical birth control option, expects
pivotal study to initiate in 2023
** Brokerage expects interim data on FemaSeed in Q422; "we
believe (this) could be a significant catalyst as it could
provide initial efficacy proof of concept for Femasys' novel
device"
** "With the stock trading at cash value, we believe
investors are attributing minimal value for either program, and
we see 2022 as a year for the company to establish
proof-of-concept" - Wainwright
** Stock down 38% YTD as of last close
(Reporting by Susan Mathew in Bengaluru;)