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, Inc. (OTC: EVFM) regularly issues news and updates focused on women’s sexual and reproductive health, its FDA-approved products, and its corporate strategy. Company press releases highlight developments around PHEXXI, a hormone-free, on-demand prescription contraceptive vaginal gel, and SOLOSEC, a single-dose oral antimicrobial treatment for bacterial vaginosis and trichomoniasis.
News items cover a range of topics, including quarterly and annual financial results, cost-of-goods initiatives, and progress on international expansion. For example, Evofem has announced licensing arrangements with Pharma 1 Drug Store in the Middle East and North Africa, regulatory submissions for PHEXXI and SOLOSEC in the United Arab Emirates, and steps toward commercialization in Gulf Cooperation Council states. These updates provide context on how the company is seeking to diversify and expand its revenue stream beyond the United States.
Evofem’s releases also describe marketing and educational campaigns such as the "Say Vagina" initiative, which the company presents as an effort to normalize clinical language and address stigma around vaginal health. Other news has detailed the impact of social media campaigns on traffic to the PHEXXI website, engagement from healthcare providers, and broader brand awareness.
In addition, investors can find news about corporate actions and governance, including information on a previously proposed merger with Aditxt, Inc. and its subsequent termination, reverse stock split authorization, and capital raises through notes and warrants. This news page aggregates such announcements so readers can follow product, regulatory, commercial, and corporate developments related to Evofem Biosciences and its EVFM stock symbol over time.
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.
Evofem Biosciences (Nasdaq: EVFM) announced a proposed underwritten public offering of its common stock, pre-funded warrants, and warrants to purchase common stock. The offering is subject to market conditions and the final terms remain uncertain. The net proceeds will be used for commercialization of its product Phexxi®, continuing the Phase 3 clinical trial 'EVOGUARD' for new indications, and general corporate purposes. Piper Sandler & Co. is the sole book-running manager for this offering.
Evofem Biosciences (Nasdaq: EVFM) has partnered with Bora Pharmaceuticals Services Inc. to manufacture its hormone-free contraceptive, Phexxi. This collaboration is projected to reduce the cost of goods by 45%, aimed at improving the company's gross margin and operational efficiency. The manufacturing process will commence in Q4 2022, with Phexxi also set for regulatory approval in countries like Mexico and Nigeria. Evofem continues to see an increase in demand, having reported consecutive revenue growth quarters following Phexxi's FDA approval in May 2020.
Evofem Biosciences (Nasdaq: EVFM) announced findings from the Phase 3 AMPOWER clinical trial of Phexxi, revealing a significantly lower urinary tract infection (UTI) rate among participants, with only 5.8% experiencing UTIs compared to 11% in the general population. The results will be presented on May 7, 2022, at the ACOG Annual Meeting. The study involved 1,339 women and aimed to assess Phexxi's efficacy for pregnancy prevention. Evofem anticipates further data later this year from the Phase 3 EVOGUARD trial, which could enhance Phexxi's market potential for preventing chlamydia and gonorrhea.
Evofem Biosciences, Inc. (Nasdaq: EVFM) has approved a 1-for-15 reverse stock split to boost its common stock price, enabling compliance with Nasdaq's minimum bid price requirement. This decision was made at the annual meeting on May 4, 2022, and will take effect post market close on May 5, 2022. The reverse split reduces outstanding shares from approximately 187.7 million to around 12.5 million. Stockholders will automatically see adjustments in their holdings, and a cash payment will be provided for fractional shares.
Evofem Biosciences (Nasdaq: EVFM) reported a 19% increase in net product sales of Phexxi to $4.3 million for Q1 2022 compared to Q4 2021. The company achieved a 30 percentage point improvement in gross-to-net adjustments to 38%. Operating expenses decreased by 19% to $33.2 million, driven by a 49% reduction in selling and marketing costs, resulting in a loss from operations of $28.9 million. Evofem is on track for top-line Phase 3 data for chlamydia and gonorrhea prevention in 2H 2022.
Evofem Biosciences announces a strategic partnership with VitaCare Prescription Services to enhance patient access to Phexxi, a contraceptive product. This agreement aims to streamline the prescription process, leading to an increase in filled prescriptions. VitaCare will provide 'white glove' support to patients, improving follow-up and facilitating communications between healthcare providers and insurers. Key services include personalized benefits guidance, prior authorization support, and refill reminders. This collaboration is part of Evofem's broader strategy to efficiently support its growing patient base.
Evofem Biosciences (Nasdaq: EVFM) will present data from the Phase 3 AMPOWER Clinical Trial at the ACOG annual meeting on May 7, 2022. The poster will characterize women who experienced urinary tract infections during the trial. Katherine Atkinson, CCO of Evofem, emphasized the company's commitment to improving women's sexual and reproductive health. Additionally, Evofem will host a product theatre discussing its FDA-approved, hormone-free contraceptive gel, Phexxi®, on May 6, 2022. This innovative product aims to fill unmet needs in women's health.
FAQ
What is the current stock price of Evofem Bioscienc (EVFM)?
What is the market cap of Evofem Bioscienc (EVFM)?
