Aditxt, Inc. - ADTX STOCK NEWS

Aditxt, Inc. (NASDAQ: ADTX) announced that its subsidiary, Pearsanta, has entered into a collaboration agreement with Evofem Biosciences for the U.S. launch of a blood-based diagnostic test for endometriosis in mid-2025. The Mitomic® Endometriosis Test (MET™) detects a specific deletion in mitochondrial DNA, a novel biomarker for endometriosis.

Endometriosis affects approximately 190 million women worldwide, with no current validated blood-based tests available. The collaboration aims to develop a go-to-market strategy and commercial plan for MET. Over 300 endometriosis cases have been evaluated using MET, with 600 planned for clinical validation.

This partnership aligns with Evofem's strategy to expand its women's health product offerings and Aditxt's goal of accelerating healthcare innovations. The collaboration may also lead to future tests, such as early detection of ovarian cancer.

Aditxt (NASDAQ: ADTX) and Evofem Biosciences (OTCQB: EVFM) have signed a Second Amendment to their merger agreement, extending the timeline for Aditxt's $3 million funding to Evofem. The acquisition is now targeted to close in Q4 2024. Evofem aims to grow revenue through its three-pronged strategy: increasing U.S. sales of Phexxi® and SOLOSEC®, expanding its portfolio, and pursuing international partnerships. Aditxt plans to introduce four health-focused programs, including women's health through the Evofem merger. The deal's completion depends on shareholder approvals and Aditxt securing sufficient capital.

Aditxt (NASDAQ: ADTX) subsidiary Pearsanta has submitted a $2 million grant application to the DoD's Prostate Cancer Research Program. The funding aims to advance clinical trials for the Mitomic® Prostate Test (MPT™), a blood test for early detection of clinically significant prostate cancer. The proposed study involves validating MPT™ and conducting a randomized clinical trial with up to 1,000 men to evaluate its effectiveness in reducing unnecessary biopsies.

The prostate cancer diagnostic market is expected to grow from $6.2 billion in 2023 to $11.5 billion by 2032. Prostate cancer affects 1 in 8 men, with an estimated 299,010 new cases and 35,250 deaths expected in the US this year. Pearsanta's Mitomic Technology Platform uses mitochondrial DNA mutations for early disease detection, focusing on various cancers and conditions like endometriosis.

Aditxt Inc. (NASDAQ: ADTX) announced the appointment of Christopher Mitton as President of its subsidiary, Pearsanta Inc. Mitton brings over 20 years of leadership experience in medical diagnostics, focusing on personalized healthcare and molecular oncology. Pearsanta specializes in developing diagnostic tests for cancer, cardiology, immunology, gut health, and chronic conditions using proprietary platforms like Mitomic® Technology and AditxtScore™.

Under Mitton's leadership, Pearsanta aims to complete clinical validation studies for its Mitomic® Endometriosis Test (MET™) and Mitomic® Prostate Test (MPT™), with plans for commercial launch as laboratory developed tests. The company is also finalizing validation for the Mitomic® Ovarian Test (MOT™). Pearsanta's strategy includes leveraging existing partnerships and internal synergies within Aditxt to drive revenue and accelerate test adoption globally.

Aditxt Inc. (NASDAQ: ADTX) has announced a third amendment to its arrangement agreement with Appili Therapeutics Inc. (TSX: APLI; OTCPink: APLIF). Key changes include:

1. Extending the Outside Date to November 19, 2024
2. Requiring Appili to convene a shareholder meeting promptly
3. Changing the deadline for Aditxt's financing completion to October 18, 2024
4. Making the Continuance a condition for completing the arrangement

The transaction remains subject to Aditxt raising at least $20 million in financing and other customary conditions. Upon completion of the Appili and Evofem Biosciences transactions, Aditxt plans to introduce two new programs focused on public health and women's health, expanding its current immune health and precision health programs.

Evofem Biosciences (OTCQB: EVFM) is addressing concerns about the impact of GLP-1 receptor agonists on oral contraceptive effectiveness. These medications, used for obesity and type 2 diabetes treatment, can cause gastrointestinal side effects that may reduce oral contraceptive absorption. Evofem offers Phexxi, a hormone-free, on-demand contraceptive gel, as a non-oral alternative.

Phexxi maintains the vagina's acidic pH, creating an environment inhospitable to sperm. It's particularly suitable for women using GLP-1 medications who are concerned about potential drug interactions affecting their birth control efficacy. Evofem's CEO, Saundra Pelletier, emphasizes the importance of understanding these interactions and providing alternative contraceptive options for women managing chronic conditions like obesity and diabetes.

Evofem Biosciences reported financial results for Q2 2024, showing significant improvements:

- Net product sales increased 69% to $4.2 million
- Operating loss improved 81% to $1.4 million
- Total operating expenses decreased 43% to $5.5 million

Key developments include:
- Acquisition of global rights to SOLOSEC, a single-dose antibiotic for sexual health infections
- Licensing of Phexxi commercial rights in the Middle East
- Partnership with Hello Alpha to offer Phexxi as hormone-free contraception
- 7.4% lower rebate on Phexxi prescriptions to Medi-Cal
- Issuance of fifth U.S. patent for Phexxi

The company received $2.0 million from Aditxt, Inc. to reinstate the Merger Agreement and through preferred stock sale.

Aditxt (NASDAQ: ADTX) announced the successful passage of all nine proposals at its recent annual shareholders' meeting, setting the stage for its 2024 and 2025 strategic plans. Key approvals include:

1. Election of directors
2. Ratification of auditors
3. Issuance of shares for Series B-1 and B-2 Convertible Preferred Stock
4. Equity Line of Credit (ELOC) proposal for up to $150 million
5. Increase in authorized shares from 100 million to 1 billion
6. Reverse stock split authority (1:5 to 1:200)
7. Amendment to the 2021 Omnibus Equity Incentive Plan

These approvals provide Aditxt with flexibility and potential resources to advance its strategic initiatives in immune health, precision health, public health, and women's health programs.

Aditxt, Inc. (NASDAQ: ADTX) has closed a $1.2 million registered direct offering priced at-the-market under Nasdaq rules. The offering involved the sale of 1,130,189 shares of common stock (or equivalents) at $1.06 per share. H.C. Wainwright & Co. acted as the exclusive placement agent. Aditxt plans to use $500,000 of the net proceeds to fund obligations under its Amended and Restated Merger Agreement with Evofem Biosciences, Inc., with the remainder allocated for working capital and general corporate purposes. The offering was made pursuant to a shelf registration statement on Form S-3 filed with the SEC.