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 present two new data sets from its Phase 3 AMPOWER trial on Phexxi at the 2021 ACOG Annual Clinical Meeting from April 30 to May 2. The data will highlight women's usage and pregnancy feelings related to Phexxi, which is crucial for clinicians. In total, 1,384 women participated, with 84% compliant in using Phexxi correctly during intercourse. These findings emphasize the product's significance for women's reproductive health and its role in contraceptive counseling.
Evofem Biosciences, Inc. (NASDAQ: EVFM) will host a webcast and conference call on May 6, 2021, at 4:30 p.m. ET to discuss its financial results and business highlights for the first quarter ended March 31, 2021. Interested parties can access the live event via the company's website or by calling (866) 503-5561 in the U.S. A replay will be available for 24 hours after the event. Evofem focuses on innovative solutions for women’s health, having launched the FDA-approved product Phexxi in September 2020.
Evofem Biosciences (NASDAQ: EVFM) will present a keynote address and two posters on Phexxi at the NCODA 2021 National Spring Forum from April 28-30. CEO Saundra Pelletier will address the importance of Phexxi for female cancer patients. The two posters from the Phase 3 AMPOWER trial will cover sexual satisfaction and pregnancy rates associated with Phexxi. NCODA will also publish a Positive Quality Intervention to support oncologists in prescribing Phexxi. This initiative highlights the need for hormone-free contraceptive options for women undergoing cancer treatment.
Evofem Biosciences, Inc. (NASDAQ: EVFM) announced the closing of its underwritten public offering of 17,142,857 shares of common stock at $1.75 per share, generating gross proceeds of $30 million. The proceeds will fund commercialization activities related to Phexxi®, a contraceptive vaginal gel, ongoing clinical trials for EVO100, and other corporate purposes. The offering was conducted under Evofem's existing shelf registration statement. Morgan Stanley and Stifel acted as joint book-running managers for the offering.
Evofem Biosciences (NASDAQ: EVFM) has priced an underwritten public offering of 17,142,857 shares at $1.75 per share, aiming for gross proceeds of approximately $30 million. The closing is expected around March 29, 2021. Morgan Stanley and Stifel are the joint book-running managers. The net proceeds will support the commercialization of Phexxi®, an innovative contraceptive vaginal gel, and fund the ongoing EVOGUARD Phase 3 clinical trial for EVO100 targeting STIs. The shares are offered under a shelf registration effective since March 11, 2021.
Evofem Biosciences plans to offer and sell $30 million of its common stock in an underwritten public offering, with a potential additional $4.5 million from underwriters. The offering is contingent on market conditions and does not guarantee completion or specific terms. Proceeds will support commercialization of Phexxi contraceptive gel in the U.S., fund the ongoing EVOGUARD Phase 3 clinical trial for EVO100, and cover general corporate expenses. The offering is registered under Form S-3 and details will be filed with the SEC.
Evofem Biosciences (NASDAQ: EVFM) announced impressive initial results from its "Get Phexxi" direct-to-consumer campaign, launched on Valentine's Day. The campaign, aimed at promoting its non-hormonal birth control, Phexxi, generated over 173 million views in three weeks. Key metrics included a 73% rise in monthly ex-factory sales of Phexxi in February and a significant boost in brand awareness, with total prescriptions for Phexxi growing by 32%. The number of healthcare providers prescribing Phexxi increased by 25% in February 2021 compared to January.
Evofem Biosciences (NASDAQ: EVFM) announces the publication of the AMPREVENCE trial manuscript in the American Journal of Obstetrics and Gynecology. The trial of EVO100, a preventive gel for chlamydia and gonorrhea, met primary and secondary efficacy endpoints, showing a 50% reduction in chlamydia and 78% in gonorrhea infections in women at high risk. Currently, there are no FDA-approved products for these infections. Evofem is enrolling patients for the EVOGUARD Phase 3 trial, with data expected in mid-2022, aiming for FDA submission by the end of 2022.
Evofem Biosciences (NASDAQ: EVFM) reported its 2020 financial results, highlighting its U.S. launch of Phexxi, a non-hormonal birth control method. The 'Get Phexxi' campaign generated over 115 million views, resulting in a 362% increase in direct searches. Despite this, net product sales for Q4 were approximately $170,000, with a net loss of $40.6 million. For the year, net sales totaled around $450,000, with a net loss of $142.3 million. Evofem secured a $25 million strategic investment to fund clinical trials and boost market access. The company continues to focus on addressing unmet medical needs for women.
Evofem Biosciences (NASDAQ: EVFM) announced its presentation at the H.C. Wainwright Global Life Sciences Conference on February 23, 2021. CEO Saundra Pelletier will discuss the commercialization of Phexxi®, a non-hormonal birth control method. The presentation will be available for on-demand listening starting March 9, 2021, at 7:00 a.m. ET on their website. Additionally, on Valentine's Day, Evofem launched a DTC campaign called 'Get Phexxi' to enhance awareness of its product.
Phexxi® is the first and only hormone-free prescription vaginal gel in the U.S. for pregnancy prevention.
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