Aditxt, Inc. - ADTX STOCK NEWS

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.

Lupin has divested its U.S. Commercial Women's Health Specialty Business to Evofem Biosciences, Inc. The deal includes the transfer of SOLOSEC®, an FDA-approved single-dose antimicrobial agent for treating bacterial vaginosis and trichomoniasis. Lupin could receive up to USD 84 million based on future contingent milestones.

This strategic move aligns with Lupin's plan to focus on therapeutic areas with synergistic potential, such as respiratory and neurological diseases. For Evofem, the acquisition enhances its women's health portfolio and leverages its existing commercial infrastructure.

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.

Aditxt, Inc. (NASDAQ: ADTX) announced a private placement offering under Nasdaq rules, pricing the sale of convertible preferred stock, preferred stock, and warrants to purchase common stock, expected to raise approximately $4.2 million. The offering is set to close around May 6, 2024, with proceeds intended for merging expenses and general corporate purposes.

Aditxt, Inc. announced a $4.2 million private placement priced under Nasdaq rules, including the sale of convertible preferred stock, preferred stock, and warrants to purchase common stock. The offering is expected to close on or about May 6, 2024, with gross proceeds to be used for merger obligations and general purposes.