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Aspira Q4 Revenues up 36 Percent

NEW YORK – Aspira Women's Health reported Wednesday that its fourth quarter revenues were up 36 percent year over year.

For the three months ended Dec. 31, 2021, the company reported total revenues of $1.9 million, up from $1.4 million in Q4 2020.

Aspira posted $1.8 million in product revenues from sales of its OVA1plus ovarian cancer test, up 29 percent from $1.4 million in the prior-year quarter. Revenues from its genetic testing business were $36,000, down 18 percent from $44,000 the year before.

The company performed 4,750 OVA1plus tests in Q4 2021, up 23 percent from 3,849 in Q4 2020.

The firm's Q4 2021 net loss was $9.0 million, or $.08 per share, compared to $6.1 million, or $.06 per share, a year ago.

Aspira's R&D spending more than doubled in Q4 2021 to $1.5 million from $734,000 in Q4 2020 while its SG&A spending was $8.5 million, up 52 percent from $5.6 million in Q4 2020.

For full-year 2021, the company posted revenues of $6.8 million, up 45 percent from $4.7 million in 2020.

Product revenues were $6.6 million, up 47 percent from $4.5 million in 2020. Revenues from genetic testing were $244,000, up more than twofold from $108,000 the year before.

The company performed 17,359 OVA1plus tests in 2021, up 28 percent from 13,557 in 2020.

For full-year 2021, Aspira's net loss was $31.7 million, or $.28 per share, compared to a net loss of $17.9 million, or $.18 per share, in 2020.

The company's R&D costs in 2021 were up more than double year over year to $5.3 million from $2.1 million, while its SG&A costs were up almost twofold to $30.3 million from $17.1 million.

Aspira finished 2021 with $37.2 million in cash and cash equivalents.

In Wednesday morning trading on the Nasdaq, Aspira shares were down 4 percent to $1.02.

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