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

What Happened: INVO Fertility 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 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.

“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 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 shares were up 66.5% at $2.68 at the time of publication Wednesday, according to Benzinga Pro.

Photo: katjen/Shutterstock.