Shares of Progyny Inc.
gained 0.4% in premarket trading Monday, after the fertility benefits management company raised is fourth-quarter financial outlook, given the surprising resumption of deliveries fertility drug Menopur. The company raised its guidance ranges for fourth-quarter earnings per share to 2 cents to 3 cents from a per-share loss of 1 cents to EPS of 2 cents, and for revenue to $208.9 million to $213.9 million from $202.4 million to $212.4 million. The new guidance ranges are above the FactSet consensus for EPS of 1 cent and for revenue of $208.0 million. The company said the previous guidance was based on the assumption that Menopur would not be available for the rest of 2022 due to industry-wide shortages, but deliveries have resumed. “We are pleased to see that this matter was resolved quickly and without impact to members’ treatment utilization,” said Chief Executive Pete Anevski. The stock had tumbled 17.5% over the past three months through Friday, while the S&P 500
had eased 0.8%.