Tivic Health falls as quarterly sales miss estimates

Valion Bio

15/11/2023 14:10

** Shares of Tivic Health Systems  TIVC.O  fall 20.7% to
$1.73
    ** Co late on Tuesday posts Q3 rev of $282,000 vs Wall
Street estimates of $780,000 - LSEG data
    ** Medical device maker reports Q3 loss of $1.48 per share
vs loss of $27 per share last year
    ** TIVC says revenue drop was due to increase in price of
devices, which was implemented in Q2 to increase profitability
    ** Co's cash and cash equivalents totaled $5.2 million at
the end of Q3
    ** Stock down 97% YTD 

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))