Welcome to our dedicated page for Evofem Bioscienc news (Ticker: EVFM), a resource for investors and traders seeking the latest updates and insights on Evofem Bioscienc 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 participate in the Piper Sandler 32nd Annual Virtual Healthcare Conference from November 30 to December 3, 2020. A pre-recorded fireside chat featuring CEO Saundra Pelletier will be available on November 23 at 10:00 AM Eastern Time. The chat can be accessed on the company's website under the Events and Presentations section. Evofem focuses on women's sexual and reproductive health, with its product, Phexxi®, being the first hormone-free vaginal gel approved in the U.S. for pregnancy prevention.
Evofem Biosciences (NASDAQ: EVFM) will present at the Stifel Virtual Healthcare Conference on November 18, 2020 at 4:00 p.m. ET. The presentation can be accessed live and archived via the Evofem website. Evofem focuses on developing innovative products for women's sexual and reproductive health, including the hormone-free contraceptive Phexxi™, and is currently evaluating EVO100 in a Phase 3 trial for preventing urogenital infections.
Evofem Biosciences (NASDAQ: EVFM) reported financial results for Q3 2020, marking its first product sales of $0.3 million from the launch of Phexxi, a hormone-free contraceptive gel. Total operating expenses rose to $26.4 million, leading to a net loss of $29.9 million, or $(0.37) per share. The company secured a $25 million strategic investment from Adjuvant Capital to fund ongoing clinical trials and expand market access. Evofem initiated the EVOGUARD Phase 3 trial for EVO100, aimed at preventing chlamydia and gonorrhea infections in women.
Evofem Biosciences, Inc. (NASDAQ: EVFM) will host a webcast and conference call on November 9, 2020, at 5:00 p.m. ET to discuss its third quarter 2020 financial results and business highlights. Interested parties can access the live webcast and related presentation on the Company's Investor page. Dial-in numbers for participation include (866) 503-5561 (U.S. toll-free) and (253) 336-2965. A telephone replay will be available shortly after the call through November 12, 2020, using conference ID 2639368.
Evofem Biosciences (NASDAQ: EVFM) will participate in a Virtual Investor KOL Roundtable on October 29, 2020, at 2:00 p.m. ET. CEO Saundra Pelletier and CMO Kelly Culwell will discuss women's reproductive health alongside expert Patricia Cason, RN, MS, FNP-BC. The event will delve into the current birth control landscape and contraceptive counseling. A live webcast will be available, with a replay accessible for three months.
Evofem Biosciences, Inc. (NASDAQ: EVFM) has commenced the pivotal Phase 3 EVOGUARD trial, enrolling its first patient to assess the efficacy and safety of EVO100 in preventing urogenital chlamydia and gonorrhea in women. With rising infection rates and increasing antibiotic resistance, the need for preventive measures like EVO100 has become critical. The trial will involve 1,730 women at risk of these infections. The FDA has granted EVO100 Fast Track Designation for chlamydia prevention, and it has also received Qualified Infectious Disease Product designation for gonorrhea.
Evofem Biosciences (NASDAQ: EVFM) has secured $25 million from the sale of unsecured convertible promissory notes to Adjuvant Capital. The notes, convertible at a price of $3.65 per share, will fund the upcoming Phase 3 clinical trial, EVOGUARD, for its product EVO100 targeting urogenital chlamydia and gonorrhea prevention in women. The company aims to expand market access for its non-hormonal contraceptive, Phexxi™, approved in May 2020. This partnership aligns with Adjuvant's mission to enhance contraceptive access globally.
Evofem Biosciences (NASDAQ: EVFM) announced new clinical trial data on Phexxi™ and EVO100 to be presented at major medical society meetings this October. The data includes insights into Phexxi users and factors affecting reinfection rates of chlamydia and gonorrhea, as well as findings related to the sexual impact of treatment. The AMPREVENCE trial enrolled 860 women, while the AMPOWER trial involved 1,384 participants, evaluating Phexxi's contraceptive efficacy. The company continues its publication strategy with nine abstracts to be presented this fall.
Evofem Biosciences, Inc. (NASDAQ: EVFM) announced a rescheduled virtual fireside chat at the 2020 Cantor Global Virtual Healthcare Conference, set for September 17, 2020, from 1:20 p.m. to 1:50 p.m. ET. Interested parties can access the live and archived webcast on Evofem's website under the Investors section. The company focuses on developing innovative products in women's sexual and reproductive health, including its first product, Phexxi™, a hormone-free contraceptive gel. The firm is also advancing EVO100 into a Phase 3 clinical trial for STI prevention.
Evofem Biosciences (NASDAQ: EVFM) announced positive results from its Phase 2b AMPREVENCE trial at the 2020 STD Prevention Virtual Conference. The trial evaluated EVO100 for preventing urogenital chlamydia and gonorrhea in women, achieving a 50% risk reduction for chlamydia and 78% for gonorrhea compared to placebo. The product was well tolerated by participants. Following this success and a favorable FDA data review, Evofem plans to initiate a Phase 3 trial in Q4 2020, demonstrating the potential impact of EVO100 on women's health amid rising STI rates in the U.S.
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