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Agile Therapeutics, Inc. (Nasdaq: AGRX) is a forward-thinking company specializing in women's healthcare. Their mission is to address the unmet health needs of today’s women by providing innovative contraceptive options. The company’s leading product, Twirla® (ethinyl estradiol and levonorgestrel transdermal system), is a once-weekly prescription contraceptive patch that offers an alternative to daily pills or longer-acting methods. Twirla employs Agile's proprietary Skinfusion® technology designed to improve patch adhesion and patient comfort.
Recently, Agile Therapeutics has reported significant financial and operational accomplishments. In the third quarter of 2023, Twirla achieved net revenue of $6.7 million, reflecting a 21% increase from the second quarter and a 122% increase year-over-year. The company projects positive cash flow from operations by the first quarter of 2024, backed by a strong gross margin that grew to 63% in the third quarter of 2023.
The company’s strategic focus includes expanding their market presence through partnerships and promotional efforts, notably targeting five key states with high reimbursement potential. Agile is also enhancing Twirla's availability through telemedicine platforms like Nurx, TwentyEight Health, and Pandia, aiming to broaden its reach further.
Operational expenses have been managed effectively, with a reported decrease in GAAP operating expenses to $8.2 million in the third quarter of 2023. This financial discipline, alongside the anticipated revenue, positions Agile Therapeutics favorably for sustainable growth.
Additionally, Agile Therapeutics has successfully completed the pay-off of their debt facility with Perceptive Advisors, leaving their balance sheet debt-free. Despite a delisting notice from Nasdaq, the company’s shares continue to trade on the OTC Market, maintaining its focus on executing its business plan and exploring strategic opportunities to maximize Twirla’s growth and shareholder value.
For more detailed updates, latest news, and information, you can visit their website at www.agiletherapeutics.com or follow them on Twitter @agilether.
Agile Therapeutics (Nasdaq: AGRX) announced it will release its Q4 and FY 2022 financial results on March 22, 2023, after market close. A live conference call will follow at 4:30 p.m. ET to discuss the results and provide a business update. This event is an important platform for investors to gain insights into the company's financial health and strategic direction.
Corium Pharma Solutions has appointed Suzanne Hinchcliffe as its new Chief People Officer, enhancing its leadership team alongside recent appointments of industry veterans including Mark Sirgo as CEO and Ernie De Paloantonio as CFO. With over 20 years in human resources, Hinchcliffe aims to improve talent management and HR operations.
Corium specializes in drug delivery technologies and partners with notable companies like Proctor & Gamble (NYSE: PG) and Agile Therapeutics (NASDAQ: AGRX). The leadership changes are positioned to support the company’s growth and operational strategy in 2023 and beyond.
Agile Therapeutics, Inc. (Nasdaq: AGRX) announced it received a 180-day extension from Nasdaq to regain compliance with its minimum bid price requirement. The new deadline is August 14, 2023. If the common stock's bid price closes at or above $1.00 for ten consecutive business days before this date, compliance will be confirmed by Nasdaq. Previously, Agile was notified of non-compliance on August 15, 2022. If compliance is not achieved by the new deadline, the company may face delisting. The company continues to monitor its stock price and seeks to meet Nasdaq's requirements.
Corium Pharma Solutions, Inc. (CPSI) announced the appointment of Ernie De Paolantonio as Chief Financial Officer on February 15, 2023. With over 30 years of financial experience in the pharmaceutical industry, including roles at Journey Medical Corporation and BioDelivery Sciences, Ernie aims to drive long-term growth for CPSI. This leadership addition aligns with the company's strategy, following recent key appointments including Mark Sirgo as CEO. Corium specializes in drug delivery technologies, partnering with major firms like Proctor & Gamble (NYSE: PG) and Agile Therapeutics (NASDAQ: AGRX).
Corium Pharma Solutions has appointed Kevin Ostrander as Chief Business Officer and Dr. Niraj Vasisht as Chief Technology Officer, enhancing its leadership team. These appointments follow the recent selection of Mark Sirgo as Chief Executive Officer. Ostrander, with over 30 years in pharmaceuticals, previously led business development at ApiJect Systems and BioDelivery Sciences. Vasisht, a technology expert with over 25 years' experience, contributed to multiple FDA-approved products during his tenure at BDSI. Corium specializes in drug delivery technologies and has partnerships with major companies like Procter & Gamble and Agile Therapeutics.
Agile Therapeutics (Nasdaq: AGRX) announces FDA approval for extended milestones in the Twirla® long-term safety study, using electronic health records and insurance claims for VTE and ATE risk comparison. Interim safety data is due by November 2029, with the final report in November 2035. Agile continues focusing on Twirla's commercialization while evaluating the AG200-15 Extended Regimen and progestin-only patch development. A recent publication indicates the 12-week regimen may provide similar hormonal exposure to the approved 28-day regimen. However, Agile remains cautious about significant pipeline investment in 2023, prioritizing capital efficiency.
Agile Therapeutics (Nasdaq: AGRX) announced a dividend of one one-thousandth of a share of newly designated Series C Preferred Stock for each outstanding share of its common stock, to be distributed on February 7, 2023. Holders of the Series C Preferred Stock will have voting rights related to a proposed reverse stock split. Each share carries significant voting power, with 1,000,000 votes per full share. Any shares not present at the stockholder meeting will be redeemed automatically. The Series C Preferred Stock will not be transferable except in connection with common stock transfers. Further details will be provided in a Form 8-K filing.
Agile Therapeutics, Inc. (Nasdaq: AGRX) reported a significant boost in Twirla factory sales, estimating a 30% increase in Q4 2022, totaling approximately 42,200 cycles, and an annual surge of 232% from 2021 with 113,600 total cycles. For 2023, the company anticipates net revenue between $25-$30 million, focusing on retail and non-retail channels while managing operating expenses. CEO Al Altomari highlighted growth momentum and ongoing efforts to expand their women’s health product portfolio.
Agile Therapeutics, a women's healthcare company, will participate in the RHK Capital Disruptive Growth Conference in New York on December 5-6, 2022. CEO Al Altomari will present a corporate overview on December 5 at 3:20 p.m. ET. The conference will be accessible through a live webcast on the company's investor relations page, and a replay will be available for 30 days post-event. Agile Therapeutics focuses on providing innovative contraceptive options, highlighted by its product Twirla, a non-daily prescription contraceptive designed using proprietary Skinfusion technology.
Agile Therapeutics (Nasdaq: AGRX) reported a 43% increase in net revenue for Q3 2022, totaling $3.0 million, driven by a 361% growth in non-retail channel Twirla cycles. The demand for Twirla rose by 35% quarter-over-quarter, with a total of 28,541 cycles sold. Despite a net loss of $19.7 million, Agile expects continued growth in Q4 2022 and 2023. Management highlighted the collaboration with Afaxys and a new CTV marketing campaign as key strategies for enhancing Twirla's market presence and awareness.
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