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May 14, 2021, 5:26 p.m. EDT

Medical-device maker Femasys files for IPO

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By Claudia Assis

Medical-device maker Femasys Inc. has filed for an initial public offering. The Georgia-based company, which focuses on women's health care, filed to sell $40.25 million worth of shares. The company plans to list its shares on the Nasdaq under the symbol FEMY, according to a filing with U.S. securities regulators on Friday. Femasys said its sales rose 12% to $1.04 million in 2020, and its net loss narrowed to $6.9 million in 2020 from an $11.3 million net loss in 2019. One of its devices, FemVue, used in artificial inseminations, has marketing clearances or authorization in the U.S., Europe, Canada, and Japan, but currently its sale is "a very limited direct effort," the company said.

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