Evofem Biosciences (EVFM) has recently been given FDA approval Phexxi, a lactic acid, citric acid and potassium bitartrate vaginal gel for the prevention of pregnancy in females of reproductive potential for use as an on-demand method of contraception.
Phexxi is the first non-hormonal, on-demand, vaginal pH regulator contraceptive designed to maintain vaginal pH within the normal range of 3.5 to 4.5 – an acidic environment that is inhospitable to sperm.
There have been a limited number of advances in birth control over the last two decades; Phexxi represents an important step forward in women’s health, Many of my patients have cycled through numerous contraceptive options and still have not found the right fit for their sexual and reproductive needs. Phexxi offers women freedom from hormones and control over how they choose to prevent pregnancy. I look forward to offering this new on-demand option to my patients.
Michael A. Thomas, M.D., Chair of the Department of Obstetrics & Gynecology at the University of Cincinnati College of Medicine
This product is expected to launch in September along with their concierge experience which is a comprehensive tele-medicine support system to allow on-demand educational support, determine insurance, counselling support, refill reminders and online pharmacy with home delivery.
FDA approved Evofem Biosciences (EVFM) stock rises +20%
Upon the news of FDA approval the company also had an investor conference detailing their future efforts as outlined below,
- No offering planned and is exploring other options – analysts expect it to be a personal investment or buyout target by big pharma companies.
- $25 million already set aside for the Phexxi pre-launch. marketing campaign with social media playing a big part.
- Tele-medicine will be a huge player with their Phexxi Concierge platform.
- Phase 3 study fast tracked for chlamydia and gonorrhea.
At the time of publication the stock has risen a whopping 23% from previous close of $4.85 to $6.64. The company stock has an average value of 1.47 million and a market cap of 248.12 million
