Aspira Womens Health Stock Price, News & Analysis

Aspira Women's Health Inc. (AWHL) is a healthcare diagnostics company focused on the discovery, development, and commercialization of noninvasive, AI-powered tests to aid in the diagnosis and management of gynecologic diseases. According to its SEC filings and investor materials, the company concentrates first on ovarian cancer and is expanding into other gynecologic conditions that are difficult to assess using traditional non-invasive clinical procedures.

Aspira’s common stock trades on the OTCQX Market under the symbol AWHL. The company describes itself as a smaller reporting company and operates through a research and commercial CLIA laboratory, Aspira Labs, Inc., located in Texas. Its business centers on bio-analytical and AI-enhanced diagnostics that combine biomarkers and patient data with machine learning algorithms.

Core products and OvaSuite platform

Aspira offers its commercial ovarian cancer risk assessment tests under the OvaSuite℠ umbrella, which includes OvaWatch® and Ova1Plus®. Company disclosures state that together these tests form a portfolio of blood-based diagnostics designed to aid in the detection of ovarian cancer risk for more than 1.2 million American women diagnosed with an adnexal mass each year.

OvaWatch® is described as a noninvasive test with a reported negative predictive value of 99%. It is used to assess ovarian cancer risk in women whose adnexal mass is initially classified as indeterminate or benign, where immediate surgery may be premature or unnecessary. Ova1Plus® is presented as a reflex process that combines two FDA-cleared tests, Ova1® and Overa®, to assess the risk of ovarian malignancy in women with an adnexal mass who are already planned for surgery.

In SEC registration statements, Aspira notes that it has developed clinical data to support use of OvaWatch for monitoring an adnexal mass through periodic testing at physician-prescribed intervals. The company indicates that expansion of OvaWatch mass-monitoring features increased the potential addressable market for its tests compared with use limited to pre-surgical risk assessment.

AI-enhanced bio-analytics and technology approach

Aspira describes itself in multiple news releases as an AI-enhanced bio-analytics based women's health company. Its approach involves combining protein and microRNA biomarkers with patient-specific clinical data to power AI-driven algorithms. In ovarian cancer, the company states that it intends to use this multi-omics framework to further enhance the sensitivity and specificity of its existing tests.

The company’s SEC filings highlight its experience in designing and launching FDA-approved and laboratory-developed blood tests to aid in the diagnosis of ovarian cancer. Aspira also emphasizes the performance of its machine learning algorithms in detecting ovarian cancer risk in different racial and ethnic populations, and its goal of expanding access to its tests among Medicaid patients as part of a broader mission to make advanced diagnostics available to more women.

Endometriosis and ENDOinform™ development program

Beyond ovarian cancer, Aspira is developing diagnostics for endometriosis, which it describes as a debilitating disease affecting millions of women worldwide. The company reports that it has developed what it calls the first non-invasive test designed to identify endometriomas, one of the most commonly occurring forms of severe endometriosis.

Aspira’s ENDOinform™ program is described in company updates and ARPA-H related communications as a non-invasive, blood-draw based multi-omics test. It is designed to use protein and microRNA biomarkers, combined with patient-specific data, to fuel an AI-powered algorithm intended to aid in the diagnosis of endometriosis in symptomatic patients. The company notes that this program originated from technology and expertise developed for ovarian cancer risk assessment and that it aims to identify endometriosis independent of disease location or severity.

Aspira previously received an award under the U.S. Advanced Research Projects Agency for Health (ARPA-H) Sprint for Women's Health program to support ENDOinform development. A later update disclosed that ARPA-H and its managing contractor determined that Aspira had not met certain milestone specifications and elected to terminate the contract. In its own statements, Aspira maintains that it believes it achieved the specified requirements and indicates that it plans to continue ENDOinform development with support from shareholders and collaborators.

Commercial model and healthcare system relationships

In a series of financial result announcements, Aspira describes a significant reset of its business model and market strategies beginning in the first quarter of 2025. The company reports a shift toward emphasizing relationships with large health care systems and Integrated Delivery Networks (IDNs), with the goal of improving efficiency and long-term profitability.

For example, Aspira highlights the implementation of OvaSuite™ in a world-renowned IDN to refine ovarian cancer risk assessment in O-RADS 4 patients, a relatively high-risk population. In this context, OvaSuite is used within patient care protocols to help identify lower-risk patients within a higher-risk cohort who may not require additional imaging or referral to a gynecologic oncologist, with the stated aim of conserving health system resources.

The company has also reported a laboratory services agreement with the University of Texas Medical Branch at Galveston, under which Aspira provides Ova1Plus® and OvaWatch® testing on a non-exclusive basis. Another partnership with Dorsata, a women's health clinical decision-support and workflow platform, embeds an adnexal mass module into electronic health record workflows. This module integrates Ova1Plus® and OvaWatch® ordering and documentation to support evidence-based decision-making for adnexal masses.

Operational focus and financial discipline

Across quarterly updates, Aspira emphasizes a focus on profitable revenue growth rather than volume growth alone. The company describes initiatives such as targeting high-reimbursement markets, using claims data tools to identify profitable business, and adjusting compensation structures to incentivize profitable revenue. It also reports efforts to evaluate payer contracts, billing practices, and patient collection processes to increase average unit price per test and improve revenue realization.

The company’s disclosures highlight reductions in operating expenses, headcount, and cash used in operations, along with improvements in gross margin and balance sheet metrics over successive quarters in 2025. These changes are repeatedly attributed to cost containment measures, productivity improvements in the sales organization, and adjustments to the commercial model.

Capital markets activity and listing status

Aspira’s common stock is registered under Section 12 of the Exchange Act and, according to multiple Form 8-K filings, trades on the OTCQX Market under the ticker AWHL. In May 2025, the company reported completion of its transition to the OTCQB marketplace, and in October 2025 it disclosed an upgrade to OTCQX from OTCQB. SEC registration statements identify Aspira as a smaller reporting company and a non-accelerated filer.

During 2025, Aspira entered into several capital-raising arrangements. These include senior secured convertible promissory notes that converted into units of common stock and warrants, a private placement of common stock and warrants with accredited and institutional investors, and a purchase agreement with Lincoln Park Capital Fund, LLC providing for up to $10 million of committed equity financing. The company has filed S-1 and S-1/A registration statements to register shares underlying these financings for resale.

Business model and industry positioning

Based on its public disclosures, Aspira’s business model centers on generating revenue from its proprietary ovarian cancer risk assessment tests and related laboratory services. The company also seeks to expand its pipeline into endometriosis diagnostics and to commercialize its technology through both centralized testing at Aspira Labs and decentralized distribution via a technology transfer service platform referred to as Aspira Synergy.

Within the diagnostics and research segment of the healthcare sector, Aspira positions itself as a women's health-focused company that applies AI and multi-omics analytics to gynecologic disease detection. Its strategy, as described in SEC filings, includes continuing to commercialize existing and new technologies, raising awareness of test performance characteristics compared with traditional markers such as CA-125, expanding access among different patient populations, and seeking inclusion of its technologies in professional guidelines and legislative frameworks.

FAQs about Aspira Women's Health Inc. (AWHL)

• What does Aspira Women's Health Inc. do?
  Aspira Women’s Health Inc. focuses on discovering, developing, and commercializing noninvasive, AI-powered blood tests that aid in diagnosing gynecologic diseases, particularly ovarian cancer and endometriosis, as described in its SEC registration statements and company press releases.
• What are OvaWatch® and Ova1Plus®?
  OvaWatch® is a noninvasive blood test with a reported negative predictive value of 99% that assesses ovarian cancer risk in women with adnexal masses initially classified as indeterminate or benign. Ova1Plus® is a reflex process combining two FDA-cleared tests, Ova1® and Overa®, to assess the risk of ovarian malignancy in women with adnexal masses planned for surgery.
• What is OvaSuite℠?
  OvaSuite℠ is the name Aspira uses for its portfolio of ovarian cancer risk assessment tests offered to clinicians, including OvaWatch® and Ova1Plus®. The company states that together these tests form a comprehensive portfolio of blood tests to aid in detecting ovarian cancer risk in women diagnosed with adnexal masses.
• How does Aspira use AI in its diagnostics?
  Company materials describe Aspira’s tests as AI-powered, combining protein and microRNA biomarkers with patient-specific clinical data to fuel machine learning algorithms that support risk assessment and diagnostic decision-making in ovarian cancer and endometriosis.
• What is the ENDOinform™ program?
  ENDOinform™ is an in-development, non-invasive, blood-based multi-omics test that Aspira is designing to aid in diagnosing endometriosis in patients with symptoms of the disease. It uses protein and microRNA biomarkers plus patient data to power an AI algorithm, building on technology originally developed for ovarian cancer risk assessment.
• How does Aspira generate revenue?
  Based on its financial disclosures, Aspira generates revenue primarily from product revenue associated with its commercial test portfolio, including Ova1Plus® and OvaWatch®, performed through its laboratory operations and related arrangements with healthcare providers and health systems.
• Where is Aspira's stock listed and what is its ticker?
  According to multiple Form 8-K filings, Aspira’s common stock is listed on the OTCQX Market under the ticker symbol AWHL.
• What commercial partnerships has Aspira announced?
  Aspira has reported a laboratory services agreement with the University of Texas Medical Branch at Galveston for Ova1Plus® and OvaWatch® testing and a partnership with Dorsata to embed an adnexal mass clinical decision-support module, including OvaSuite tests, into Dorsata’s women’s health workflow platform.
• What is Aspira Synergy?
  In its SEC registration statements, Aspira refers to Aspira Synergy as a decentralized technology transfer service platform through which it expects to distribute its tests, complementing its centralized laboratory operations.
• Is Aspira still developing new diagnostics?
  Yes. Company disclosures describe an active product pipeline focused on expanding its ovarian cancer portfolio and advancing non-invasive diagnostics for endometriosis, including the ENDOinform™ program and further enhancements to its AI-enabled assays.