Evofem Biosciences Applauds U.S. House of Representatives for Passing The Right to Contraception Act

Rhea-AI Summary

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.

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• Support from 228 House members for The Right to Contraception Act could enhance Evofem's market positioning.
• Expected top-line data from registrational Phase 3 clinical trial evaluating Phexxi for new indications this fall could drive growth.

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• None.

SAN DIEGO, July 22, 2022 /PRNewswire/ -- Evofem Biosciences, Inc., (Nasdaq: EVFM), a women's healthcare company, today applauded the 228 members of the U.S. House of Representatives who voted to pass legislation to safeguard access to contraceptives entitled The Right to Contraception Act.

"Today we applaud the U.S. House of Representatives for passing The Right to Contraception Act, which would codify into law the fundamental right to safe and easy access to contraception," said Saundra Pelletier, Chief Executive Officer of Evofem Biosciences. "Too often, women are at the mercy of insurance companies and industry middlemen that have posted record profits, yet refuse to cover contraception or put up significant barriers to access. Providing women with their choice of contraception should not be up for debate."

About Evofem Biosciences
Evofem Biosciences, Inc., (Nasdaq: EVFM) is developing and commercializing innovative products to address unmet needs in women's sexual and reproductive health, including hormone-free, woman-controlled contraception and protection from chlamydia and gonorrhea. The Company's first FDA-approved product, Phexxi^® (lactic acid, citric acid and potassium bitartrate), is a hormone-free, on-demand prescription contraceptive vaginal gel. It comes in a box of 12 pre-filled applicators and is applied 0-60 minutes before each act of sex. The Company expects to report top-line data this fall from its registrational Phase 3 EVOGUARD clinical trial evaluating Phexxi for two potential new indications – prevention of chlamydia and prevention of gonorrhea in women. Learn more at phexxi.com and evofem.com.

Phexxi^® is a registered trademark of Evofem Biosciences, Inc.

Forward-Looking Statements
This press release includes "forward-looking statements," within the meaning of the safe harbor for forward-looking statements provided by Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including, without limitation, evaluations and judgments regarding Evofem, its products, its product candidates and their development, demand for Evofem's products and product candidates and The Right to Contraception Act. Various factors could cause actual results to differ materially from those discussed or implied in the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this press release. Each of these forward- looking statements involves risks and uncertainties. Important factors that could cause actual results to differ materially from those discussed or implied in the forward-looking statements, or that could impair the value of Evofem Biosciences' assets and business are disclosed in the Company's SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 10, 2022 and its Quarterly Report on Form 10-Q filed with the SEC on May 10, 2022. All forward-looking statements are expressly qualified in their entirety by such factors. The Company does not undertake any duty to update any forward-looking statement except as required by law.

Investor Relations Contact Amy Raskopf araskopf@evofem.com Mobile: (917) 673-5775

Media Contact media@evofem.com

 

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SOURCE Evofem Biosciences, Inc.

FAQ

What is The Right to Contraception Act and its significance for Evofem Biosciences (EVFM)?

The Right to Contraception Act aims to safeguard access to contraceptives, which Evofem supports as it aligns with their mission to provide innovative women's healthcare solutions.

What product does Evofem Biosciences offer?

Evofem Biosciences offers Phexxi, a hormone-free, on-demand contraceptive gel that is applied prior to sexual activity.

When is Evofem expected to report data from its Phase 3 clinical trial?

Evofem is expected to report top-line data from its Phase 3 clinical trial in the fall of 2022.

How does the passage of The Right to Contraception Act impact EVFM stock?

The passage of the Act could potentially enhance the market environment for Evofem's products, potentially positively influencing EVFM stock.