Aspira Women's Health expands board with new directors

AUSTIN, TX - Aspira Women's Health Inc. (NASDAQ:AWH), a company specializing in gynecologic disease diagnostic tools, has announced the appointment of three new members to its Board of Directors. The appointments come ahead of the company's annual shareholders meeting and are part of a planned board change. According to InvestingPro data, the micro-cap company, currently valued at $2.73 million, faces significant challenges with its stock down over 96% in the past year.

The new directors, Dr. Jeffrey Cohen, Cindy Hundorfean, and Jack Fraser, each bring decades of experience from the healthcare and financial sectors. Dr. Cohen, an expert in robot-assisted surgery, has a long-standing association with the Allegheny Health Network. Ms. Hundorfean, currently a senior partner at The CEO Advisory Network, has held executive roles at Highmark Health and Allegheny Health Network. Mr. Fraser brings his financial acumen from his tenure as a managing partner at Seamark Capital.

Michael Buhle, CEO of Aspira Women's Health, expressed his confidence that the expertise of the new directors would be invaluable in accelerating the company's growth and enhancing women's healthcare. The company also expressed gratitude to Dr. Celeste Fralick for her contributions to the board since February 2022.

In addition to the board expansion, Aspira announced an equity purchase agreement with Triton Funds LP for up to $2.0 million in gross proceeds. This financial move comes at a crucial time, as InvestingPro analysis indicates the company is quickly burning through cash with a concerning current ratio of 0.76. This financial move is designed to support Aspira's commercial activities, general corporate purposes, and working capital needs. Buhle emphasized the importance of this transaction in supporting the company's strategic growth initiatives, including driving sales growth and completing a clinical study for its ENDOInform™ non-invasive blood test for early detection of endometriosis.

Aspira Women's Health is dedicated to developing AI-powered, noninvasive tests for diagnosing gynecologic diseases. Its products include OvaWatch® and Ova1Plus®, which together form the OvaSuiteSM portfolio of blood tests to aid in ovarian cancer risk detection. The company is actively expanding its diagnostic offerings to include tests for endometriosis and aims to enhance the sensitivity and specificity of current tests through the integration of microRNA and protein biomarkers with patient data.

This news is based on a press release statement. Forward-looking statements in the press release are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Aspira does not undertake any obligation to update these forward-looking statements in the future. InvestingPro subscribers can access 15 additional key insights about AWH, including detailed financial health scores and Fair Value estimates, along with comprehensive research reports that transform complex Wall Street data into actionable intelligence.

In other recent news, Aspira Women's Health Inc. has completed a significant milestone in its partnership with the Advanced Research Projects Agency for Health (ARPA-H), earning a $1.5 million payment as part of a $10 million agreement. This milestone is part of the ARPA-H Sprint for Women's Health initiative, focusing on developing ENDOinformTM, a diagnostic tool for endometriosis. Additionally, Aspira has announced the resignation of James Crawford, the Vice President of Finance, effective April 4, 2025, and the resignation of board member Celeste Fralick, effective March 31, 2025. The company has not yet announced successors for these positions.

Aspira has also resolved a compliance issue with Nasdaq's listing rules, which arose from a private placement of securities priced below market value without shareholder approval. By amending the warrants to prevent exercise until shareholder approval is obtained, the company has regained compliance with Nasdaq regulations. Furthermore, Aspira has withdrawn its planned public offering, having filed a request with the SEC to retract its Registration Statement on Form S-1. The company has not disclosed the reasons for this decision but continues to focus on its diagnostic tools for gynecologic diseases.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.