Aspira Inks Agreement For Ovarian Cancer Test; Shares Rise 32% Post-Market
Bioanalytical company Aspira Women’s Health has entered into an agreement with Dana-Farber Cancer Institute, Brigham and Women’s Hospital and Medical University Lodz to study their microRNA technology with Aspira’s solutions.
Aspira Women’s Health (AWH) will evaluate the combination of these two technologies to develop ovarian cancer detection tests. Shares of the company jumped about 32% in Thursday’s extended trading session.
Aspira’s Chief Scientific Officer, Lesley Northrop, Ph.D., FACMG, said, “Over the past 10 years, Aspira has been actively developing and evaluating numerous technologies that will advance early detection of ovarian cancer.”
Northrop further added, “With our focused expertise and experience in multi-modality detection of ovarian cancer risk, we have the foundation to implement a liquid biopsy test specific to early stage disease detection.”
Additionally, the company came out with its 4Q results. It posted a net loss of $0.58 per share, which was wider than analysts’ expectations of a net loss of $0.04 per share.
Revenues, driven by higher test volumes, increased 10.7% year-over-year to $1.45 million, topping analysts’ estimates by $0.15 million. (See Aspira Women’s Health stock analysis on TipRanks)
Recently, Cantor Fitzgerald analyst Kyle Mikson gave the stock a Buy rating with a price target of $10 (49% upside potential). Mikson thinks Aspira’s OVA1plus test “could become the standard of care” and the company’s product pipeline has “significant potential revenue opportunity.”
Aspira scores a 6 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock may perform in line with the broader market. Shares have rallied about 852.3% over the past year.