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 conference call on August 4, 2022, at 5:00 p.m. ET to discuss its second-quarter financial results and business highlights. Investors can join the call by dialing (800) 285-6670 for U.S. participants or (713) 481-1320 for international participants. The call will also be available via a live webcast at evofeminvestorroom.com. The company specializes in women's sexual and reproductive health, with Phexxi® as its first FDA-approved product, expected to report clinical trial data this fall.
Evofem Biosciences (Nasdaq: EVFM) has announced that its direct-to-consumer (DTC) campaign, House Rules, has won 12 healthcare and communications awards and is nominated for four more. The campaign, featuring Emmy-winning actress Annie Murphy, aims to raise awareness of Phexxi, a hormone-free contraceptive. To date, House Rules has increased brand awareness by 45%, reached 42 million video views, and resulted in over 33,000 telehealth exits. The campaign emphasizes women's choice in birth control, aligning with Evofem's mission to enhance women's reproductive health.
Evofem Biosciences, Inc. (Nasdaq: EVFM) announced a new educational birth control chart aimed at enhancing contraceptive counseling for healthcare providers in the U.S. This chart introduces twelve contraceptive methods, including the vaginal pH modulator, replacing outdated materials. The initiative reflects recent legal changes and aims to empower women in making informed decisions regarding contraception. Evofem's first product, Phexxi®, is a hormone-free contraceptive gel, with expectations to report Phase 3 clinical trial data for new indications in the fall.
Evofem Biosciences, Inc. (Nasdaq: EVFM) praised the U.S. House of Representatives for passing The Right to Contraception Act, which aims to ensure access to contraception. CEO Saundra Pelletier emphasized the need for women to have reliable and easy access to contraceptive options without interference from insurance companies. Evofem is known for its hormone-free contraceptive gel, Phexxi, and anticipates reporting Phase 3 trial data for new indications in fall 2022. The company develops innovative products for women's reproductive health.
Evofem Biosciences, Inc. (Nasdaq: EVFM) has partnered with a360 Media to increase awareness of its hormone-free contraceptive, Phexxi, through branded content in popular U.S. magazines and websites. The partnership is expected to reach a broad audience, particularly women aged 18-34, who make up 72% of Phexxi prescriptions. In the first two weeks of collaboration, new prescriptions for Phexxi rose by 16%. This initiative aims to promote Phexxi as a viable alternative to traditional contraceptive methods, enhancing visibility among potential users.
Evofem Biosciences (Nasdaq: EVFM) announced the publication of a peer-reviewed article in the Journal of Therapeutic Advances in Reproductive Health, detailing the mechanism of action of Phexxi®, a non-hormonal contraceptive. The article emphasizes Phexxi's role in maintaining vaginal pH to prevent pregnancy. Dr. Todd Chappell, lead author, highlighted its importance amid current contraceptive access discussions. This marks the second peer-reviewed publication on Phexxi in 2022, following data published in the Journal of Sexual Medicine earlier this year.
Evofem Biosciences (Nasdaq: EVFM) announced a Notice of Allowance from the USPTO for patent application 16/738,868, covering the composition of Phexxi® (lactic acid, citric acid, potassium bitartrate). This patent is expected to provide protection until at least 2033, consolidating Evofem's existing portfolio of over 40 patents. CEO Saundra Pelletier emphasized the significance of this patent in strengthening Phexxi's market potential, which offers women a hormone-free contraceptive option. The company aims to address unmet needs in women’s reproductive health.
Evofem Biosciences (Nasdaq: EVFM) has secured a significant agreement with a major pharmacy benefit manager (PBM) to enhance access to its hormone-free contraceptive Phexxi for millions of women. The deal removes prior authorization barriers, effective July 1, 2022, and is expected to save the company approximately $400,000 by the end of 2022 and close to $1 million annually. Evofem anticipates an increase in Phexxi prescriptions due to this broader access and is working to finalize similar agreements with additional payers.
Evofem Biosciences (Nasdaq: EVFM) disclosed results from a post hoc analysis of the Phase 3 AMPOWER trial for Phexxi, showing it prevented 99% of pregnancies per act of intercourse. Based on 101 pregnancies from 24,289 acts of intercourse among 1,182 women, this paralleled a pregnancy risk of 0.415%. The FDA-approved Phexxi exhibited a 7-cycle cumulative pregnancy rate of 13.7% with typical use. Previous studies indicated that 88.7% of women reported improved sexual quality of life, while urinary tract infections were lower compared to the general population.
Evofem Biosciences (Nasdaq: EVFM) announced that the FDA has extended the shelf life of its contraceptive Phexxi® from three to four years. This extension signals both the safety and high manufacturing standards of the product. The previous shelf life was 30 months, later increased to 36 months in April 2022, and now to 48 months with the latest FDA approval. The company is also expecting to release Phase 3 trial data for EVO100, Phexxi's investigational name, later this year, concerning its effectiveness in preventing sexually transmitted infections.
FAQ
What is the current stock price of EVOFEM BIOSCIENCE (EVFM)?
What is the market cap of EVOFEM BIOSCIENCE (EVFM)?
What is Evofem Biosciences known for?
What is Phexxi?
How is Phexxi applied?
What recent achievements has Evofem Biosciences made?
Is Evofem Biosciences undergoing any significant changes?
How has Evofem Biosciences performed financially?
What are the future plans of Evofem Biosciences?
How does Phexxi benefit women using GLP-1 receptor agonists?
Where can I learn more about Evofem Biosciences and its products?
What is the significance of Evofem's recent U.S. patent?
