Evofem Bioscienc - EVFM STOCK NEWS

Evofem Biosciences (OTCQB: EVFM) is addressing concerns about the impact of GLP-1 receptor agonists on oral contraceptive effectiveness. These medications, used for obesity and type 2 diabetes treatment, can cause gastrointestinal side effects that may reduce oral contraceptive absorption. Evofem offers Phexxi, a hormone-free, on-demand contraceptive gel, as a non-oral alternative.

Phexxi maintains the vagina's acidic pH, creating an environment inhospitable to sperm. It's particularly suitable for women using GLP-1 medications who are concerned about potential drug interactions affecting their birth control efficacy. Evofem's CEO, Saundra Pelletier, emphasizes the importance of understanding these interactions and providing alternative contraceptive options for women managing chronic conditions like obesity and diabetes.

Evofem Biosciences reported financial results for Q2 2024, showing significant improvements:

- Net product sales increased 69% to $4.2 million
- Operating loss improved 81% to $1.4 million
- Total operating expenses decreased 43% to $5.5 million

Key developments include:
- Acquisition of global rights to SOLOSEC, a single-dose antibiotic for sexual health infections
- Licensing of Phexxi commercial rights in the Middle East
- Partnership with Hello Alpha to offer Phexxi as hormone-free contraception
- 7.4% lower rebate on Phexxi prescriptions to Medi-Cal
- Issuance of fifth U.S. patent for Phexxi

The company received $2.0 million from Aditxt, Inc. to reinstate the Merger Agreement and through preferred stock sale.

Evofem Biosciences (OTCQB: EVFM) has signed a License and Supply Agreement with Pharma 1 Drug Store for the Middle East rights to Phexxi, its FDA-approved hormone-free contraceptive. Pharma 1 will have exclusive commercialization rights in several Middle Eastern countries, including the UAE, Kuwait, Saudi Arabia, and Qatar. The company plans to file for regulatory approval in the UAE in Q3 2024.

The UAE contraceptive drug market is projected to reach $185.1 million by 2030. This agreement aligns with Evofem's strategy to expand and diversify its revenue stream. Phexxi is the first and only locally-acting contraceptive gel approved by the FDA, applied before intercourse to maintain a vaginal pH inhospitable to sperm and certain pathogens.

Aditxt (NASDAQ: ADTX) and Evofem Biosciences (OTCQB: EVFM) have amended and restated their Merger Agreement, targeting a September 30 closing. Key changes include addressing Evofem's interim financing needs and substituting cash for Aditxt's common stock as merger consideration. Concurrently, Evofem acquired SOLOSEC, an FDA-approved single-dose treatment for bacterial vaginosis and trichomoniasis, from Lupin for up to $84 million in contingent milestones.

The acquisition diversifies Evofem's portfolio and aligns with Aditxt's vision of supporting promising health innovations. Both companies are working to close the transaction in the second half of 2024, subject to various conditions including Aditxt securing sufficient financing. The merger aims to accelerate Evofem's growth and expand its women's health franchise.

Evofem Biosciences announces a partnership with Hello Alpha to offer Phexxi, a non-hormonal contraceptive gel, on Hello Alpha's telemedicine platform.

This collaboration aims to enhance women's healthcare by providing hormone-free birth control options, especially for users of GLP-1 medications like Ozempic and Wegovy, which can reduce the effectiveness of oral contraceptives.

This initiative aligns with Hello Alpha's mission to offer accessible and affordable healthcare to women across the U.S.

Phexxi, FDA-approved, is applied before intercourse to maintain a vaginal pH inhospitable to sperm.

Evofem Biosciences (OTCQB: EVFM) has announced the issuance of U.S. Patent No. 11,992,472 by the USPTO. This patent covers the composition and methods for using Phexxi, a hormone-free vaginal gel for contraception. Phexxi, which contains lactic acid, citric acid, and potassium bitartrate, is FDA-approved and works by maintaining a vaginal pH level inhospitable to sperm and certain pathogens. This is the fifth U.S. patent for Phexxi, further solidifying Evofem's intellectual property portfolio. CEO Saundra Pelletier highlighted the importance of this patent in demonstrating Phexxi's innovative approach to hormone-free contraception. Since its U.S. launch in 2020, Phexxi's net sales have consistently grown. Key growth drivers for 2024 include the increasing use of Phexxi for supplemental contraception among women taking GLP-1 agonists, which can reduce the efficacy of oral contraceptives.

On May 15, 2024, Evofem Biosciences (OTCQB: EVFM) reported its financial results for Q1 2024. Key highlights include:

- Received $1M from Aditxt and an additional $2.5M investment by July 1, 2024.

- Strengthened intellectual property with the approval of a new patent for Phexxi.

- Partnered with Modern Remedies to boost Phexxi distribution in the Northeast.

- Renegotiated a 7.4% lower rebate for Phexxi with Medi-Cal, effective July 2024.

Financially, net sales were $3.6M, a 38% decrease from $5.8M in Q1 2023, attributed to cyclical softness and a cyberattack on Change Healthcare. Operating expenses decreased by 31% to $6.4M, leading to a reduced operating loss of $2.8M, a 21% improvement. Despite lower sales, the company expects 2024 to be its fourth consecutive year of net sales growth.

Evofem Biosciences, Inc. strengthens Phexxi's intellectual property with a new composition of matter patent from the USPTO. The patent covers methods of contraception with Phexxi vaginal gel, making it the company's fifth patent in the United States. Phexxi is the first FDA-approved locally-acting contraceptive gel that works without hormones. The product has shown increased net sales since its launch in 2020, with key growth drivers for 2024 including expanded use in women taking oral contraceptives in conjunction with certain drugs.

Evofem Biosciences, Inc. (EVFM) reports third consecutive year of Phexxi net sales growth, with $18.2 million in 2023. Total operating expenses reduced by 64% from 2022 levels. Sales and marketing expense as a percentage of net sales was 54% in Q4 2023, marking significant improvement. The company entered into an agreement to be acquired by Aditxt, Inc. for accelerated growth.