Welcome to our dedicated page for EVOFEM BIOSCIENCE news (Ticker: EVFM), a resource for investors and traders seeking the latest updates and insights on EVOFEM BIOSCIENCE stock.
Evofem Biosciences, Inc. (OTCQB: EVFM) is a pioneering biotechnology company dedicated to enhancing women's reproductive health across the globe. The company's flagship product, Phexxi® (lactic acid, citric acid, and potassium bitartrate), is an FDA-approved, hormone-free contraceptive gel. Applied 0-60 minutes before sex, Phexxi maintains the vagina's natural pH, creating an environment unsuitable for sperm. This innovative product has seen increased sales and usage each year since its launch in 2020.
Evofem is committed to providing woman-controlled, non-invasive, and reversible reproductive health solutions. The company's recent strategic initiatives include securing expanded Medicaid coverage in Washington State and renegotiating rebates with Medi-Cal in California. These moves have made Phexxi more accessible to millions of women on state healthcare plans.
In December 2023, Evofem entered a definitive agreement to be acquired by Aditxt, Inc. (Nasdaq: ADTX). This acquisition is expected to accelerate Evofem's growth and expand its product portfolio. The company anticipates this merger will close in the second half of 2024.
Financially, Evofem continues to show resilience and growth. In 2023, the company reported $18.2 million in net sales and a significant reduction in operating expenses. Despite challenges like a cyberattack and ongoing austerity measures, Evofem expects its fourth consecutive year of sales growth in 2024.
Looking forward, Evofem is poised to benefit from the burgeoning use of GLP-1 receptor agonists, which can reduce the effectiveness of oral contraceptives. As a non-hormonal contraceptive, Phexxi offers a critical alternative for women using these medications. Evofem's innovations and strategic partnerships underscore its commitment to addressing unmet needs in women's health.
Evofem Biosciences (NASDAQ: EVFM) will host a webcast and conference call on November 15, 2021, at 4:30 p.m. ET to discuss its third quarter 2021 financial results and business highlights. Investors can access the live and archived webcast through a link on their investor room page. Participation by phone is also available, and a replay will be provided for 24 hours after the call. Evofem focuses on women's sexual and reproductive health, with its primary product being Phexxi®, a hormone-free contraceptive gel.
Evofem Biosciences (NASDAQ: EVFM) reported promising results from its "House Rules" DTC campaign featuring Annie Murphy, aimed at promoting Phexxi, a hormone-free contraceptive. The campaign has achieved 2 billion media impressions and led to a 263% increase in website traffic. Key metrics show a 71% rise in sales and a 56% increase in new users for Phexxi in September compared to August 2021. Over 8,900 units of Phexxi were dispensed, with 7,839 prescriptions issued. The campaign targets women seeking alternatives to hormonal contraceptives.
Evofem Biosciences has announced a registered direct offering of 10,000 shares of Series B Convertible Stock at $1,000 per share, totaling approximately $10 million in gross proceeds. The sale will close in two tranches, with the initial closing occurring shortly after the announcement. Funds will support Phexxi® commercialization, the Phase 3 clinical trial 'EVOGUARD' for preventing chlamydia and gonorrhea, and general corporate purposes. The offering is part of Evofem's strategy to enhance shareholder value and maintain cash flow into Q1 2022.
Evofem Biosciences, Inc. (NASDAQ: EVFM) praised House leaders for advocating coverage of all FDA-approved contraceptives under the Affordable Care Act (ACA). CEO Saundra Pelletier recognized the importance of the House's letter, which requests senior Biden Administration officials to ensure compliance with ACA requirements. The company's product, Phexxi, is a hormone-free contraceptive gel approved by the FDA in May 2020. Evofem focuses on women's reproductive health solutions, including contraception and protection against STIs.
Evofem Biosciences (NASDAQ: EVFM) announced its CEO, Saundra Pelletier, will present at the LD Micro Main Event in Los Angeles from October 12-14, 2021. The presentation is scheduled for October 12 at 12:30 p.m. PT. The company recently launched a new campaign, "House Rules," on September 9, 2021, to promote its hormone-free contraceptive, Phexxi. The campaign has successfully increased media coverage, site traffic, and telehealth visits, enhancing Phexxi prescription growth. Interested parties can register for the virtual presentation via the company website.
Evofem Biosciences, Inc. (NASDAQ: EVFM) announced the publication of a manuscript in Advances in Therapy, discussing variability in contraceptive clinical trial designs and their impact on efficacy outcomes. The study highlights challenges in comparing efficacy across non-hormonal and hormonal contraception due to variations in trial protocols. Key findings show that the exclusion of certain menstrual cycles can misrepresent the effectiveness of contraceptives. The paper aims to raise awareness among healthcare providers regarding these nuances, thereby improving contraceptive counseling.
Evofem Biosciences (NASDAQ: EVFM) announced the presentation of seven clinical trial data sets on its products, Phexxi and EVO100, at four medical society meetings in October 2021. Leading the presentations is Dr. Brandi Howard, who highlighted significant interest from healthcare providers. The posters will cover topics including genitourinary symptoms and the effectiveness of the vaginal pH modulator in preventing STIs. Notably, the AMPREVENCE study showcased statistically significant reductions in the risk of chlamydia and gonorrhea infections. The abstracts will be published in relevant medical journals.
Evofem Biosciences (NASDAQ: EVFM) announced that CEO Saundra Pelletier will participate in two investor conferences. The first is the H.C. Wainwright 23rd Annual Global Investment Conference on September 13, 2021, featuring a corporate presentation at 7:00 a.m. ET. The second is the Morgan Stanley Virtual Global Healthcare Conference on September 14, 2021, in a fireside chat at 12:30 p.m. ET. Both events will be webcast and available for 30 days on the company’s website. Evofem focuses on women's sexual and reproductive health, including innovative contraceptive solutions.
Evofem Biosciences (NASDAQ: EVFM) reported a net loss of $33.4 million, improving from $46.2 million in Q1 2021. Phexxi sales surged by 68% to $1.9 million, with a 47% increase in prescriptions and a 52% growth in prescriber base. Operating expenses fell by 6% to $43 million, despite a 17% rise in R&D costs to $8.5 million. A celebrity campaign is set to launch in September 2021 to boost brand awareness. Cash and equivalents stood at $47 million as of June 30, 2021. The company remains on track for the EVOGUARD trial completion by year-end.
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