INVO Fertility Inc ( IVF ) shares are soaring on Wednesday after the company reported financial results for the fourth quarter.

What Happened: INVO Fertility ( IVF ) reported fourth-quarter revenue of $1.69 million, up 22% year-over-year from $1.38 million in the prior year’s quarter. The company reported a fourth-quarter loss of $9.04 per share, versus a loss of $9.65 per share in the fourth quarter of 2023.

Consolidated clinic revenue from the company’s INVO Center in Georgia and fertility clinic in Wisconsin increased 24% year-over-year. The company attributed the net loss to the addition of NAYA Therapeutics and corresponding merger costs.

INVO Fertility ( IVF ) previously traded as NAYA Biosciences under the ticker “NAYA.” The company began trading under the “IVF” ticker on Monday.

“Following our announcement to divest a majority stake in NAYA TX, we have refocused our efforts towards being a fertility company to continue capitalizing on the favorable market trends and recent policy developments that underscore the importance of fertility care,” said Steve Shum, CEO of INVO Fertility ( IVF ).

“Leveraging the success of our existing three operating fertility centers in Wisconsin, Georgia and Alabama, we are actively pursuing expansion into additional markets.”

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It’s worth noting that INVO Fertility ( IVF ) is considered a low-float stock with just 4.91 million shares available for public trading, according to Benzinga Pro. The company also had a market cap of less than $8 million as of Tuesday’s close. Low-float, micro-cap stocks can be very volatile, which may be contributing to some of the surge in shares on Wednesday.

IVF Price Action: INVO Fertility ( IVF ) shares were up 66.5% at $2.68 at the time of publication Wednesday, according to Benzinga Pro.