Welcome to our dedicated page for Agile Therapeutics news (Ticker: AGRX), a resource for investors and traders seeking the latest updates and insights on Agile Therapeutics stock.
This page contains historical news coverage for Agile Therapeutics Inc (AGRX), a women's healthcare company that specialized in transdermal contraceptive products before being delisted from Nasdaq and completing a corporate merger. This archive documents the company's developments, announcements, and the events surrounding its corporate transformation.
Agile Therapeutics focused on developing Twirla, a once-weekly prescription contraceptive patch designed for women seeking alternatives to daily oral birth control. The company's proprietary Skinfusion technology represented its approach to transdermal drug delivery in the women's health pharmaceutical sector.
Historical news for AGRX covers the company's journey as a small-cap pharmaceutical firm, including financial reports, regulatory developments, clinical milestones, and ultimately its delisting and merger activities. For investors and researchers interested in understanding the trajectory of small pharmaceutical companies in the contraceptive space, this archive provides valuable context.
Browse past coverage to gain insight into Agile Therapeutics' operational history, market challenges, and the circumstances that led to its transformation from an independent Nasdaq-listed company. This historical documentation serves as a reference for those researching women's healthcare pharmaceutical development and the dynamics facing emerging biotech firms.
Agile Therapeutics, Inc. (OTCQB: AGRX) has announced the completion of its acquisition by Insud Pharma, S.L., a global pharmaceutical group based in Spain. The transaction, approved by Agile shareholders on August 22, 2024, values Agile at approximately $45 million. Former Agile common stockholders will receive $1.52 per share in cash, net of assumed liabilities and estimated transaction costs.
As a result of the acquisition, Agile has combined with Insud Pharma's US subsidiary, Exeltis USA, Inc., expanding their women's health and contraceptive portfolio. Agile will now operate as an indirect subsidiary of Insud and will cease to be listed on any public market, including the OTC QB.
H.C. Wainwright & Co. served as the exclusive financial advisor to Agile Therapeutics, while Morgan, Lewis & Bockius LLP acted as its legal advisor. Insud Pharma and Exeltis USA were advised legally by Loeb & Loeb LLP and RC Law LLP.
Agile Therapeutics has entered a definitive merger agreement with Insud Pharma’s US subsidiary, Exeltis, where Agile shareholders will receive $1.52 per share in cash, representing a 356% premium over the previous closing stock price. The total enterprise value for the transaction is approximately $45 million. The merger is expected to close in Q3 2024, subject to Agile shareholder approval and other customary closing conditions. As part of the agreement, Insud will provide Agile with a line of credit up to $8 million, primarily for inventory purchases. Upon completion, Agile will delist from public markets.
Agile Therapeutics (AGRX) reported significant first quarter 2024 results, showing a 58% increase in net revenue to $5.7 million, driven by a rebound in demand for Twirla, which saw an 18% increase from the prior quarter. Factory sales also grew by 3%. Operating expenses for the quarter were $6.8 million, a 24% increase from Q4 2023 but a decrease of 20% from Q1 2023. The company recorded a GAAP net income of $1.3 million compared to a net loss in the previous quarters. Non-GAAP net loss was $2.9 million, an improvement from previous periods. Cash reserves stood at $2.6 million as of March 31, 2024. Agile's stock began trading on the OTC market in March 2024, and the company is optimistic about the Biden-Harris Administration's steps to improve access to contraceptives.
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