Femasys (NASDAQ:FEMY) stock is rocketing higher on Tuesday following approval from the Food and Drug Administration (FDA) for FemaSeed.
FemaSeed is an infertility treatment that delivers sperm directly into a woman’s fallopian tube. Femasys notes that this treatment is less invasive than in vitro fertilization (IVF) or intracytoplasmic sperm injection (ICSI).
With the FDA approval granted to Femasys today, the company is now able to move forward with the commercialization of FemaSeed. This opens it up to the growing infertility market, with some 10 million women in the U.S. suffering from the problem.
Kathy Lee-Sepsick, founder, president and CEO of Femasys, said the following about the approval news:
“This FDA 510(k) Clearance of FemaSeed demonstrates our successful collaborative efforts with the FDA to bring forward new technology that will address the significant unmet need for less burdensome infertility treatments.”
How This Affects FEMY Stock Today
With the approval from the FDA comes incredibly heavy trading of FEMY shares. As of this writing, more than 9.8 million shares of the company’s stock have been traded. That’s a massive surge in trading volume compared to Femasys’ daily average of about 3.3 million shares.
FEMY stock is up 180.9% as of Tuesday morning after closing out Monday down 63.2% year-to-date.
Investors searching for all of the most recent stock market stories on Tuesday are going to want to stick around!
InvestorPlace is home to all of the hottest stock market news that traders need to know about today! That includes the biggest pre-market stock movers this morning, the latest news concerning Williams-Sonoma (NYSE:WSM) stock and more. All of that news is ready to go at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
