Agile Therapeutics, Inc. (Nasdaq: AGRX) reported financial results for Q2 2020, highlighting a net loss of $10.8 million, or $0.12 per share, alongside significant increases in cash and equivalents, totaling $87.2 million as of June 30, 2020. The company is on track to launch its contraceptive product, Twirla, in Q4 2020, with ongoing manufacturing and sales force expansion efforts. Agile reaffirmed its operating expense guidance for 2020 at $52 million to $56 million and updated net revenue guidance to $1 million to $2 million for Q4 2020, contingent on market conditions.
Agile Therapeutics (Nasdaq: AGRX) will report its Q2 2020 financial results on August 11, 2020, after market close. A live conference call will follow at 4:30 p.m. ET to discuss the results and provide updates. Interested investors can join via phone or through a live webcast available on the company's Investor Relations page. Agile focuses on women's healthcare, aiming to address unmet health needs, particularly with its transdermal contraceptive product, Twirla®. For more details, visit www.agiletherapeutics.com.
Agile Therapeutics, Inc. (Nasdaq: AGRX) is set to be included in the Russell 3000® and 2000® Indexes effective June 29, 2020, reflecting its growth and market presence. The Russell indexes, which track various U.S. stocks, serve as benchmarks for approximately $9 trillion in assets, utilized by institutional investors.
This inclusion could enhance liquidity and visibility for AGRX, as it becomes part of a widely followed index utilized by investment firms. Agile focuses on women's healthcare, specifically offering innovative contraceptive options like Twirla®, a non-daily prescription patch.
Agile Therapeutics (Nasdaq: AGRX) reported a net loss of $7.9 million for Q1 2020, compared to a loss of $4.7 million in Q4 2019. As of March 31, 2020, the company held $93.9 million in cash and equivalents. FDA approval for Twirla has set the stage for commercialization, with expectations for initial shipments to wholesalers in Q4 2020. Agile has raised over $68 million in financing and anticipates Q4 2020 revenue between $4.0 million to $6.0 million. Operating expenses are projected at $52.0 million to $56.0 million for the year, primarily focused on building its commercial infrastructure.