Aspira Women’s Health withdraws public offering plan

AUSTIN, TX - Aspira Women’s Health Inc. (NASDAQ:AWH), a micro-cap company with a market value of approximately $5 million specializing in the development of diagnostic tools for gynecologic diseases, has announced the withdrawal of its planned public offering. The company, whose stock has declined over 93% in the past year according to InvestingPro data, filed a request with the Securities and Exchange Commission (SEC) to pull back its Registration Statement on Form S-1, initially submitted on January 8, 2025.

The decision to retract the Registration Statement, which has not been declared effective by the SEC and under which no securities were sold, indicates that Aspira will not be proceeding with the public offering at this time. The company has not disclosed specific reasons for this change in strategy, though InvestingPro data shows the company faces financial challenges with a weak overall financial health score and current ratio of 0.75, indicating short-term obligations exceed liquid assets.

Aspira Women’s Health is known for creating noninvasive, AI-powered tests for the diagnosis of gynecologic diseases, including their OvaSuite portfolio. This suite includes OvaWatch® and Ova1Plus®, blood tests designed to assess the risk of ovarian cancer in women diagnosed with an adnexal mass. OvaWatch® boasts a 99% negative predictive value and is utilized when the initial clinical assessment of a mass is indeterminate or benign. Ova1Plus® involves a reflex process of two FDA-cleared tests, Ova1® and Overa®, to evaluate the risk of ovarian malignancy in women scheduled for surgery.

The company is also developing diagnostic tools for endometriosis and plans to enhance the sensitivity and specificity of its ovarian cancer tests by integrating microRNA and protein biomarkers with patient data.

Aspira’s press release included forward-looking statements, which are subject to risks and uncertainties. These statements should not be considered guarantees of future performance, and actual results may differ materially from those projected. The company has emphasized that it does not undertake any obligation to update forward-looking statements in the future, except as legally required. For investors seeking deeper insights, InvestingPro offers comprehensive analysis with 12+ additional ProTips and a detailed Pro Research Report, helping you make more informed investment decisions with expert analysis of Aspira’s financials and market position.

This announcement is based on a press release statement from Aspira Women’s Health Inc. and does not constitute an offer to sell or a solicitation of an offer to buy any securities.

In other recent news, Aspira Women’s Health Inc. has seen a significant reshuffle in its executive team. Dr. Sandra Milligan stepped down as President, with her responsibilities being assumed by Jamie Sullivan and Todd Pappas. The Board of Directors also welcomed Ellen Beausang as a new member, bringing her extensive experience in the pharmaceutical and diagnostic industry to the table.

In a separate development, Michael Buhle was appointed as the new Chief Executive Officer, with James Crawford stepping in as Vice President of Finance. Earlier, the company had announced the departure of Interim Chief Financial Officer John Kallassy, with CEO Dr. Sandra Milligan assuming his duties temporarily.

The company also faces potential delisting from the Nasdaq Capital Market due to failure to meet the minimum Market Value of Listed Securities requirement. Aspira intends to appeal this decision.

These developments come as Aspira continues to innovate in the field of women’s health diagnostics. The company has seen several executive changes, including the resignation of former CEO Nicole Sandford, who was replaced on an interim basis by Dr. Sandra Milligan. These recent developments reflect Aspira’s ongoing efforts to adapt and grow in the competitive healthcare sector.

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