Evofem Bioscienc Stock Price, News & Analysis

Evofem Biosciences, Inc. (NASDAQ: EVFM) announced the pricing of its underwritten public offering of 50 million shares of common stock and accompanying short-term warrants, priced at $1.00 per share. The offering is expected to generate gross proceeds of $50 million, with an additional $50 million possible from the full exercise of the warrants. The net proceeds will fund commercialization activities for Phexxi, the ongoing EVOGUARD Phase 3 trial for EVO100, and general corporate purposes. The offering is set to close on or about May 20, 2021.

Evofem Biosciences (NASDAQ: EVFM) announced a proposed underwritten public offering of common stock or pre-funded warrants, along with common warrants for each share sold. The offering is contingent on market conditions and may include a 30-day underwriter option for additional shares. Proceeds will be allocated to commercial activities for Phexxi, the ongoing EVOGUARD Phase 3 clinical trial, and general corporate purposes. The offering is made under an effective shelf registration statement filed with the SEC.

Evofem Biosciences (NASDAQ: EVFM) announced research findings on its investigational drug EVO100 aimed at preventing chlamydia and gonorrhea in women. These findings will be presented at the Virtual ISPOR 2021 conference from May 17 to 20, 2021. The study involved 21 women and highlighted the significance of product satisfaction and its correlation with adherence to EVO100. The pivotal Phase 3 trial, EVOGUARD, is ongoing with over 80 activated sites, expecting to complete enrollment by year-end 2021. Positive results may lead to a New Drug Application to the FDA by late 2022.

Evofem Biosciences (NASDAQ: EVFM) announced on May 12, 2021, that the FDA granted Fast Track designation for EVO100, aimed at preventing urogenital gonorrhea in women. This designation accelerates the development of new therapies for serious health needs. With over 600,000 gonorrhea cases reported in 2019, the need for a preventive solution is critical. EVO100 also holds prior Fast Track and Qualified Infectious Disease Product status for chlamydia prevention. A pivotal Phase 3 trial is underway, with positive results potentially leading to a New Drug Application by late 2022.

Evofem Biosciences (NASDAQ: EVFM) reported a significant increase in net revenue, reaching $1.1 million for Q1 2021, up from $0.2 million in Q4 2020 due to the success of its DTC campaign for Phexxi, which led to an 83% growth in total prescriptions. Operating expenses surged to $46 million, resulting in a net loss of $46.2 million, or $(0.56) per share. The company is focused on improving gross-to-net adjustments and is advancing the EVOGUARD Phase 3 trial for EVO100. Cash reserves were $45.3 million at the end of March 2021.

Evofem Biosciences (NASDAQ: EVFM) will present two new data sets from its Phase 3 AMPOWER trial on Phexxi at the 2021 ACOG Annual Clinical Meeting from April 30 to May 2. The data will highlight women's usage and pregnancy feelings related to Phexxi, which is crucial for clinicians. In total, 1,384 women participated, with 84% compliant in using Phexxi correctly during intercourse. These findings emphasize the product's significance for women's reproductive health and its role in contraceptive counseling.

Evofem Biosciences, Inc. (NASDAQ: EVFM) will host a webcast and conference call on May 6, 2021, at 4:30 p.m. ET to discuss its financial results and business highlights for the first quarter ended March 31, 2021. Interested parties can access the live event via the company's website or by calling (866) 503-5561 in the U.S. A replay will be available for 24 hours after the event. Evofem focuses on innovative solutions for women’s health, having launched the FDA-approved product Phexxi in September 2020.

Evofem Biosciences (NASDAQ: EVFM) will present a keynote address and two posters on Phexxi at the NCODA 2021 National Spring Forum from April 28-30. CEO Saundra Pelletier will address the importance of Phexxi for female cancer patients. The two posters from the Phase 3 AMPOWER trial will cover sexual satisfaction and pregnancy rates associated with Phexxi. NCODA will also publish a Positive Quality Intervention to support oncologists in prescribing Phexxi. This initiative highlights the need for hormone-free contraceptive options for women undergoing cancer treatment.

Evofem Biosciences, Inc. (NASDAQ: EVFM) announced the closing of its underwritten public offering of 17,142,857 shares of common stock at $1.75 per share, generating gross proceeds of $30 million. The proceeds will fund commercialization activities related to Phexxi®, a contraceptive vaginal gel, ongoing clinical trials for EVO100, and other corporate purposes. The offering was conducted under Evofem's existing shelf registration statement. Morgan Stanley and Stifel acted as joint book-running managers for the offering.