Agile Says It's On Track To Hit $25-$30 Million Net Annual Revenue After A Strong Performance In Its Second Quarter
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PRINCETON, NJ / ACCESSWIRE / August 17, 2023 / On August 9, Agile Therapeutics (NASDAQ:AGRX) released its second-quarter financial results, showing significant growth in revenue from its innovative weekly birth control patch, Twirla® (levonorgestrel and ethinyl estradiol), and a widening gross margin thanks to net revenue growth and decreasing operating expenses. "We set single-quarter record highs in demand, net revenue and factory sales, all while reporting another quarterly decrease in operating expenses," Agile Chairperson and CEO Al Altomari said in a statement on the company's second-quarter earnings. Here are the key highlights from the latest earnings release.
Agile's Second Quarter Earnings Show The Results Of Ongoing Efforts To Increase Access To Twirla
Net revenue from Twirla reached
Since receiving FDA approval for Twirla in 2020, demand has been steadily growing for the weekly birth control patch. The birth control delivers a combination of estrogen and progestin via a transdermal patch that can be applied directly to the skin. Instead of a pill that needs to be taken at the same time every day, Twirla users just have to swap out their patches once a week. The convenient and flexible birth control alternative is an important option for women who want a reversible contraceptive method without having to worry as much about taking a daily pill.
The increase in revenue coming from the growing demand for the weekly patch combined with a
Agile Focuses On Expanding Access To Twirla Via Strategic Partnerships
Building on its momentum over the first half of the year, Agile plans to continue working on driving further revenue growth in the second half in both retail and non-retail channels. On the retail side, the company's marketing efforts are selectively targeting consumers in California, Texas, Florida, New York and Illinois. These five states are home to an estimated
It's also working to increase retail sales through its collaborations with Nurx, Pandia and Twentyeight Health. These partnerships with women's telehealth providers make it possible for women to get a Twirla prescription online through one of these platforms and have the weekly birth control patch delivered right to their homes.
On the non-retail side, Agile is seeing revenue growth and increased adoption through its partnership with Afaxys, a leading strategic sourcing operation that provides affordable reproductive health products to healthcare providers.
That partnership has made the birth control patch available to Planned Parenthood clinics and community health centers around the country and helped drive a
Based on its strong performance for this last quarter, the women's healthcare company reaffirmed its net annual revenue target of
Featured photo by Reproductive Health Supplies Coalition on Unsplash.
Contact:
Matt Riley- Head of Investor Relations & Corporate Communications
mriley@agiletherapeutics.com
SOURCE: Agile Therapeutics, Inc.
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