{"id":380192,"date":"2020-11-12T16:04:14","date_gmt":"2020-11-12T21:04:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380192"},"modified":"2020-11-12T16:04:14","modified_gmt":"2020-11-12T21:04:14","slug":"aspira-womens-health-reports-third-quarter-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/aspira-womens-health-reports-third-quarter-2020-financial-results\/","title":{"rendered":"Aspira Women\u2019s Health Reports Third Quarter 2020 Financial Results"},"content":{"rendered":"

\nConference Call scheduled for today, November 12th at 4:30 p.m. ET
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AUSTIN, Texas, Nov. 12, 2020 (GLOBE NEWSWIRE) — Aspira Women\u2019s Health Inc. (\u201cASPIRA\u201d) (Nasdaq: AWH), a bio-analytical based women\u2019s health company focused on gynecologic disease, today reported its financial results for the third quarter ended September 30, 2020.<\/p>\n

\u201cOur test volume and revenue have rebounded in Q3 to nearly pre-pandemic levels coupled with price expansion due to the CIGNA contract starting in Q2. \u00a0We also added a key payer to help further drive adoption and price. We remain on track with our product launches and lastly we are very excited about our board and senior leadership team announcements. Aspira is now a Company majority led by women, for women, and these additions will significantly help to propel our growth.<\/u><\/em><\/strong>\u201d stated Valerie Palmieri, President and CEO.<\/p>\n

\n Recent Corporate Highlights\u00a0<\/strong>\n <\/p>\n

\n Strengthened executive and medical advisory leadership team:<\/strong>\u00a0Expanded the leadership team with the appointment and promotion of five new corporate executives: Kaile Zagger, Chief Operating Officer; Lesley Northrop M.D., Chief Scientific Officer; Elena Ratner, M.D., Global Chief Medical Advisor, Clinical and Translational Medicine; Gary Altwerger, M.D., BS, Global Deputy Chief Medical Advisor, Clinical and Translational Medicine; and Diane Powis, Chief Spokeswoman\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

\n Board Expansion:<\/strong> Aspira announced the appointment to our Board of Dr Sandra Brooks M.D., Senior Vice President and Chief Medical Officer of Thomas Jefferson University Hospitals. The majority of our board is now female.\u00a0<\/p>\n

\n Volume Recovery:<\/strong> Aspira ended the third quarter at 95% of pre-covid levels comparing February 2020, the last full calendar month before COVID-19 significantly impacted the United States, to September 2020. Our OVA1 test volume increased 46% sequentially from the second quarter test volume levels and was approximately at the same level as third quarter of 2019. Our average unit price of OVA1 Plus increased sequentially 15% \u00a0compared with the second quarter of 2020. \u00a02,450 physicians ordered OVA1 with 84 percent of the customers being repeat customers. The number of ordering physicians increased 37% from the second quarter.\u00a0 The number of tests ordered by practice is up 32% compared to the prior year third quarter.\u00a0<\/p>\n

\n Expanded Payer Coverage:<\/strong> Aspira is a participating provider with Anthem BlueCross BlueShield of Georgia, for an estimated additional 3.3 million members across the state. Aspira now has approximately 72% of the covered lives in Georgia.\u00a0 As of November 1, 2020, Aspira has approximately 173 million covered lives in the US.<\/p>\n

\n State of Connecticut Financing:\u00a0<\/strong>The Company previously announced a $4M loan from the State of Connecticut Department of Economic and Community Development, $2M of which we received in 2016. We expect to receive the additional $2M of funding under the DECD loan in the fourth quarter of 2020.<\/p>\n

\n Publications:<\/strong> In October 2020, we published a paper in Current Medical Research and Opinion, titled \u201cLow-risk Multivariate Index Assay Scores, Physician Referral and Surgical Choices in Women with Adnexal Masses\u201d.\u00a0 A total of 282 independent patient charts were reviewed of which 146 were Low Risk results. Surgery was performed on 56% patients with low risk scores. The other 44% had no surgery and were followed clinically. \u00a0There were no invasive cancers in the patients who had surgery. Clinicians were comfortable with expectant management of pelvic masses when OVA1 is low risk. These results demonstrated to us that there is an immediate need to assessing the status of a pelvic mass even though surgery is not performed.\u00a0<\/p>\n

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\n Third Quarter Highlights:<\/u>
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