NEW YORK – Aspira Women's Health reported Wednesday that revenues were up 34 percent year over year in Q3 2021.
For the three months ended Sept. 30, the Austin, Texas-based cancer diagnostics firm said that total revenues rose to $1.7 million from $1.2 million in the year-ago quarter. Product revenues were $1.6 million, up 33 percent from $1.2 million in Q3 2020. The company had $3,000 in service revenues, up from no service revenues in Q3 2020.
Product revenues for the recently completed quarter were derived from 4,281 OVA1 ovarian cancer tests performed, up 19 percent from 3,596 OVA1 tests performed in Q3 2020. Revenue per test performed was up 11 percent to $377 compared to $338 in the year-ago period.
Vermillion had a net loss for the quarter of $9.7 million, or $.09 per share, compared to a net loss of $4.3 million, or $.04 per share, in Q3 2019.
Its R&D expenses were $1.5 million, up nearly threefold from $595,000 in the year-ago period, while its SG&A spending more than doubled to $8.9 million from $4.1 million.
The company finished the quarter with $44.9 million in cash and cash equivalents and $250,000 in restricted cash.
In Wednesday morning trading on the Nasdaq, Aspira shares were down 2 percent to $3.09.