Evofem Biosciences to Explore Strategic Alternatives to Maximize Shareholder Value
Evofem Biosciences (OTCQB: EVFM) announced a strategic process on Feb. 23, 2023, to evaluate alternatives aimed at maximizing shareholder value. Potential options include mergers, sales of assets, or licensing agreements. The Board of Directors is collaborating with Joseph Gunnar & Co., LLC as their exclusive financial advisor. The company is known for Phexxi, the first FDA-approved hormone-free contraceptive gel targeted at women who prefer non-hormonal birth control due to associated health risks. Evofem highlights a significant market need, noting over 23 million U.S. women do not wish to use hormonal contraception.
- Exploring strategic alternatives to maximize shareholder value.
- Retained Joseph Gunnar & Co., LLC as financial advisor.
- None.
Evofem is the provider of Phexxi, the first and only FDA-approved hormone-free, woman-controlled contraceptive gel that women use on demand. Because Phexxi is a non-hormonal birth control method, it is not associated with common side effects like depression, weight gain, headaches, mood swings, irritability, and reduced libido. Taking hormones may not be right for some women, especially those with certain medical conditions including clotting disorders, cancer, a BMI over 30, and diabetes; women who are breast feeding; and women who smoke. More than 23 million women in the
Potential strategic alternatives to be explored or evaluated as part of this process may include, but are not limited to, a merger, reverse merger, other business combination, sales of assets, licensing or other strategic transactions involving the Company. Evofem does not expect to disclose developments with respect to this process unless until the evaluation of strategic alternatives has been completed or the Board of Directors has concluded disclosure is appropriate or legally required.
About Evofem
Phexxi® is a registered trademark of
Forward-Looking Statements
This press release includes "forward-looking statements," within the meaning of the safe harbor for forward-looking statements provided by Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 including, without limitation, statements related to the process to explore and evaluate strategic alternatives and potential outcomes thereof. There can be no assurance of a successful outcome from these efforts, or of the form or timing of any such outcome. You are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Important factors that could cause actual results to differ materially from those discussed or implied in the forward-looking statements are disclosed in the Company's
Contact
Amy Raskopf
SVP, Investor Relations,
araskopf@evofem.com
(917) 673-5775
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