xFEFF; Aspira Women's Health Reports Second Quarter 2021 Financial Results   Total Revenue Increased 141% to $1.8 million; OVA1 Volume Grew 85% to 4,553 Accessions  New Publication Demonstrates OV

Aspira Women's Health Reports Second Quarter 2021 Financial Results

Total Revenue Increased 141% to $1.8 million; OVA1 Volume Grew 85% to 4,553 Accessions

New Publication Demonstrates OVA1 Superiority to Standard of Care

Expanded Access of OVA1 Through AIM Specialty Health

Conference Call and Webcast Today at 4:30 p.m. ET

AUSTIN, Texas August 12, 2021 Aspira Women's Health Inc. ( Aspira ) (Nasdaq: AWH), a bio-analytical based women's health company focused on gynecologic disease, today reported its financial results for the second quarter ended, June 30, 2021.

We are pleased with the volume growth in our products as the economy has somewhat emerged from COVID-19 restriction as well as with the advancement of our preparations for our fourth quarter 2021 launch of OVASight indicated Valerie Palmieri, Chief Executive Officer. We are making positive progress on our product collaboration with the Dana Farber Cancer Institute as we disclosed in the first quarter of 2021. We have also continued to have a positive dialogue with the FDA regarding our planned EndoCheck product.

Recent Corporate Highlights

A paper has been published in a special ovarian cancer edition of Diagnostics entitled Salvaging detection of early-stage ovarian malignancies when CA125 is not informative. In a retrospective study of 2,305 patients, OVA1 detected over 50% of ovarian malignancies in premenopausal women that CA125 would have missed. OVA1 also correctly identified 63% of early-stage cancers missed by CA125. This paper further validates and supports the superior early-stage detection of ovarian cancer versus the current standard of care in a large population.

OVASight (MIA3G) is the Company's third-generation OVA technology and is a laboratory-developed, blood-based pelvic mass risk assessment test for ovarian cancer in a low prevalence population. It was developed to increase specificity, maintain high sensitivity with early-stage disease, and allow for conservative management of suspected benign masses in women. A total of 596 samples collected from real-world patients were used to validate the OVASight diagnostic algorithm. Validation data demonstrated 89% specificity, 91% sensitivity and

a negative predictive value of 99.6% in a low prevalence population (3.8%). In addition, overall sensitivity as well as sensitivity in early-stage disease were significantly better than assessing risk with CA-125 alone.

In May 2021, Laura McPadden joined the Company as Head of People and Culture. Laura joined us with over 25 years of experience leading human resources and talent engines and providing strategic guidance for employee relations, performance management, talent acquisition and organizational design.

Financial Highlights

Highlights Second Quarter 2021 vs. Second Quarter 2020:

Highlights of Second Quarter 2021 vs. First Quarter 2021:

Conference Call and Webcast

Aspira will host a call today at 4:30 p.m. Eastern Time to discuss results followed by a question-and-answer period.

About Aspira Women's Health Inc.

Aspira Women's Health Inc. (formerly known as Vermillion, Inc., Nasdaq: VRML) is transforming women's health with the discovery, development, and commercialization of innovative testing options and bio-analytical solutions that help physicians assess risk, optimize patient management, and improve gynecologic health outcomes for women. Aspira Women's Health is particularly focused on closing the ethnic disparity gap in ovarian cancer risk assessment and developing solutions for pelvic diseases such as pelvic mass risk assessment and endometriosis. OVA1plusTM combines our FDA-cleared products, OVA1 and OVERA , to detect risk of ovarian malignancy in women with adnexal masses. Aspira GenetiXTM testing offers both targeted and more comprehensive genetic testing options with a gynecologic focus. With over 10 years of expertise in ovarian cancer risk assessment, Aspira Women's Health is delivering a portfolio of pelvic mass products over a patient's lifetime with our cutting-edge research. The next generation of products in development are OVASightTM and EndoCheckTM. Visit our website for more information at www.aspirawh.com.

Forward-Looking Statements

This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated expenses. These statements involve a number of risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements. Words such as may, expects, intends, anticipates, believes, estimates, plans, seeks, could, should, continue, will, potential, projects and similar expressions are intended to identify forward-looking statements. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including those described in the section entitled Risk Factors in Aspira's Annual Report on Form 10-K for the year ended December 31, 2020. The events and circumstances reflected in Aspira's forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Aspira expressly disclaims any obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this press release, except as required by law.

Investor Relations Contact:

LifeSci Advisors, LLC

Aspira Women's Health Inc.

Condensed Consolidated Balance Sheets

(Amounts in Thousands, Except Share and Par Value Amounts)

Aspira Women's Health Inc.

Condensed Consolidated Statements of Operations

(Amounts in Thousands, Except Share and Per Share Amounts)