EVOFEM BIOSCIENCE INC - EVFM STOCK NEWS

Evofem Biosciences (Nasdaq: EVFM) announced a proposed underwritten public offering of its common stock, pre-funded warrants, and warrants to purchase common stock. The offering is subject to market conditions and the final terms remain uncertain. The net proceeds will be used for commercialization of its product Phexxi®, continuing the Phase 3 clinical trial 'EVOGUARD' for new indications, and general corporate purposes. Piper Sandler & Co. is the sole book-running manager for this offering.

Evofem Biosciences (Nasdaq: EVFM) has partnered with Bora Pharmaceuticals Services Inc. to manufacture its hormone-free contraceptive, Phexxi. This collaboration is projected to reduce the cost of goods by 45%, aimed at improving the company's gross margin and operational efficiency. The manufacturing process will commence in Q4 2022, with Phexxi also set for regulatory approval in countries like Mexico and Nigeria. Evofem continues to see an increase in demand, having reported consecutive revenue growth quarters following Phexxi's FDA approval in May 2020.

Evofem Biosciences (Nasdaq: EVFM) announced findings from the Phase 3 AMPOWER clinical trial of Phexxi, revealing a significantly lower urinary tract infection (UTI) rate among participants, with only 5.8% experiencing UTIs compared to 11% in the general population. The results will be presented on May 7, 2022, at the ACOG Annual Meeting. The study involved 1,339 women and aimed to assess Phexxi's efficacy for pregnancy prevention. Evofem anticipates further data later this year from the Phase 3 EVOGUARD trial, which could enhance Phexxi's market potential for preventing chlamydia and gonorrhea.

Evofem Biosciences, Inc. (Nasdaq: EVFM) has approved a 1-for-15 reverse stock split to boost its common stock price, enabling compliance with Nasdaq's minimum bid price requirement. This decision was made at the annual meeting on May 4, 2022, and will take effect post market close on May 5, 2022. The reverse split reduces outstanding shares from approximately 187.7 million to around 12.5 million. Stockholders will automatically see adjustments in their holdings, and a cash payment will be provided for fractional shares.

Evofem Biosciences (Nasdaq: EVFM) reported a 19% increase in net product sales of Phexxi to $4.3 million for Q1 2022 compared to Q4 2021. The company achieved a 30 percentage point improvement in gross-to-net adjustments to 38%. Operating expenses decreased by 19% to $33.2 million, driven by a 49% reduction in selling and marketing costs, resulting in a loss from operations of $28.9 million. Evofem is on track for top-line Phase 3 data for chlamydia and gonorrhea prevention in 2H 2022.

Evofem Biosciences announces a strategic partnership with VitaCare Prescription Services to enhance patient access to Phexxi, a contraceptive product. This agreement aims to streamline the prescription process, leading to an increase in filled prescriptions. VitaCare will provide 'white glove' support to patients, improving follow-up and facilitating communications between healthcare providers and insurers. Key services include personalized benefits guidance, prior authorization support, and refill reminders. This collaboration is part of Evofem's broader strategy to efficiently support its growing patient base.

Evofem Biosciences (Nasdaq: EVFM) will present data from the Phase 3 AMPOWER Clinical Trial at the ACOG annual meeting on May 7, 2022. The poster will characterize women who experienced urinary tract infections during the trial. Katherine Atkinson, CCO of Evofem, emphasized the company's commitment to improving women's sexual and reproductive health. Additionally, Evofem will host a product theatre discussing its FDA-approved, hormone-free contraceptive gel, Phexxi®, on May 6, 2022. This innovative product aims to fill unmet needs in women's health.

Evofem Biosciences (Nasdaq: EVFM) will hold a conference call on May 4, 2022, at 4:30 p.m. ET to discuss its first-quarter 2022 financial results and business highlights. Participants can join the call via phone or webcast. For the phone dial-in, use (877) 407-0890 (U.S. toll-free) or (201) 389-0918. The company is known for its innovative products in women's sexual and reproductive health, including the FDA-approved product, Phexxi®. To learn more, visit phexxi.com.

Evofem Biosciences announced that 88.7% of women using Phexxi reported improvement or maintenance of sexual satisfaction in the Phase 3 AMPOWER clinical trial. The study, published in the Journal of Sexual Medicine, involved 1,330 sexually active women aged 18-35. The data highlighted that 93% of participants would recommend Phexxi, a non-hormonal contraceptive gel approved by the FDA to prevent pregnancy. Insights from this trial may enhance understanding of women's sexual health.