Evofem Bioscienc Stock Price, News & Analysis

Evofem Biosciences, Inc. (Nasdaq: EVFM) announced a new educational birth control chart aimed at enhancing contraceptive counseling for healthcare providers in the U.S. This chart introduces twelve contraceptive methods, including the vaginal pH modulator, replacing outdated materials. The initiative reflects recent legal changes and aims to empower women in making informed decisions regarding contraception. Evofem's first product, Phexxi®, is a hormone-free contraceptive gel, with expectations to report Phase 3 clinical trial data for new indications in the fall.

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.

Evofem Biosciences, Inc. (Nasdaq: EVFM) has partnered with a360 Media to increase awareness of its hormone-free contraceptive, Phexxi, through branded content in popular U.S. magazines and websites. The partnership is expected to reach a broad audience, particularly women aged 18-34, who make up 72% of Phexxi prescriptions. In the first two weeks of collaboration, new prescriptions for Phexxi rose by 16%. This initiative aims to promote Phexxi as a viable alternative to traditional contraceptive methods, enhancing visibility among potential users.

Evofem Biosciences (Nasdaq: EVFM) announced the publication of a peer-reviewed article in the Journal of Therapeutic Advances in Reproductive Health, detailing the mechanism of action of Phexxi®, a non-hormonal contraceptive. The article emphasizes Phexxi's role in maintaining vaginal pH to prevent pregnancy. Dr. Todd Chappell, lead author, highlighted its importance amid current contraceptive access discussions. This marks the second peer-reviewed publication on Phexxi in 2022, following data published in the Journal of Sexual Medicine earlier this year.

Evofem Biosciences (Nasdaq: EVFM) announced a Notice of Allowance from the USPTO for patent application 16/738,868, covering the composition of Phexxi® (lactic acid, citric acid, potassium bitartrate). This patent is expected to provide protection until at least 2033, consolidating Evofem's existing portfolio of over 40 patents. CEO Saundra Pelletier emphasized the significance of this patent in strengthening Phexxi's market potential, which offers women a hormone-free contraceptive option. The company aims to address unmet needs in women’s reproductive health.

Evofem Biosciences (Nasdaq: EVFM) has secured a significant agreement with a major pharmacy benefit manager (PBM) to enhance access to its hormone-free contraceptive Phexxi for millions of women. The deal removes prior authorization barriers, effective July 1, 2022, and is expected to save the company approximately $400,000 by the end of 2022 and close to $1 million annually. Evofem anticipates an increase in Phexxi prescriptions due to this broader access and is working to finalize similar agreements with additional payers.

Evofem Biosciences (Nasdaq: EVFM) disclosed results from a post hoc analysis of the Phase 3 AMPOWER trial for Phexxi, showing it prevented 99% of pregnancies per act of intercourse. Based on 101 pregnancies from 24,289 acts of intercourse among 1,182 women, this paralleled a pregnancy risk of 0.415%. The FDA-approved Phexxi exhibited a 7-cycle cumulative pregnancy rate of 13.7% with typical use. Previous studies indicated that 88.7% of women reported improved sexual quality of life, while urinary tract infections were lower compared to the general population.

Evofem Biosciences (Nasdaq: EVFM) announced that the FDA has extended the shelf life of its contraceptive Phexxi^® from three to four years. This extension signals both the safety and high manufacturing standards of the product. The previous shelf life was 30 months, later increased to 36 months in April 2022, and now to 48 months with the latest FDA approval. The company is also expecting to release Phase 3 trial data for EVO100, Phexxi's investigational name, later this year, concerning its effectiveness in preventing sexually transmitted infections.

Evofem Biosciences (Nasdaq: EVFM) announced a public offering of 22,665,000 shares of common stock, 12,835,000 pre-funded warrants, and warrants for 71,000,000 shares, priced at $0.75 and $0.749, respectively. The company aims to raise approximately $26.6 million from the offering, expected to close around May 24, 2022. Proceeds will fund commercialization of Phexxi® and the Phase 3 'EVOGUARD' clinical trial for new indications against chlamydia and gonorrhea.