Evofem Q1 net sales down 38% to $3.6M; loss narrows; Aditxt merger progress

Evofem Biosciences, Inc.

2024-Q1 EPS reported -$0.16 revenue$3,603,000

Net sales $3.6M vs $5.8M a year ago, attributed to WAC increase cycle and Change Healthcare cyberattack.
Loss from operations narrowed 21% to $2.8M; total operating expenses decreased 31% to $6.4M.
Received $1M from Aditxt in May; Aditxt to invest additional $2.5M by July 1, 2024; merger expected H2 2024.
USPTO allowed new Phexxi composition-of-matter patent; fifth U.S. patent covering the drug.
Medi-Cal rebate reduced 7.4% effective July 1, 2024, improving net pricing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Evofem Biosciences, Inc. reported the three months ended March 31, 2024 results: revenue $3.6 million, net income loss from operations improved to $2.8 million.

Period: the three months ended March 31, 2024
Revenue: $3.6 million
Net income: loss from operations improved to $2.8 million
Result: reported results

Exact text from the filing

15.4 million beneficiaries. Effective July 1, 2024, Evofem will pay a 7.4% lower rebate to Medi-Cal on Phexxi prescriptions dispensed to its beneficiaries. ● Net sales were $3.6 million for the first quarter of 2024, reflecting anticipated cyclical softness following the wholesale acquisition cost (WAC) increase on January 1, 2024, and the impact of the

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Source: SEC EDGAR

accession 0001493152-24-019433

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