Welcome to our dedicated page for Evofem Bioscienc news (Ticker: EVFM), a resource for investors and traders seeking the latest updates and insights on Evofem Bioscienc stock.
Evofem Biosciences (EVFM) drives innovation in women's reproductive health with its non-hormonal solutions. This page serves as the definitive source for verified company updates, providing stakeholders with timely access to essential developments.
Track FDA milestones, product availability updates, and strategic partnerships shaping the contraceptive technology landscape. Our curated collection includes earnings reports, clinical trial progress, and market expansion announcements directly from Evofem's communications.
Investors will find critical updates on commercialization efforts for Phexxi® and therapeutic pipeline advancements. Analysts can monitor regulatory filings and intellectual property developments that underpin the company's market position.
Bookmark this page for streamlined access to Evofem's latest progress in creating hormone-free health solutions. Check regularly for authoritative updates on initiatives impacting women's healthcare innovation globally.
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.
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.
FAQ
What is the current stock price of Evofem Bioscienc (EVFM)?
What is the market cap of Evofem Bioscienc (EVFM)?
