---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-019433"
form_type: "8-K"
ticker: "EVFM"
cik: "0001618835"
company_name: "Evofem Biosciences, Inc."
filed_at: "2024-05-15T23:59:59+00:00"
generated_at: "2026-06-01T23:10:16.881369+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-019433
- form_type: 8-K
- ticker: EVFM
- cik: 0001618835
- company_name: Evofem Biosciences, Inc.
- filed_at: 2024-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618835/000149315224019433/0001493152-24-019433-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618835/000149315224019433/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-019433
- JSON: https://secwatch.observer/filing/0001493152-24-019433.json
- Plain text: https://secwatch.observer/filing/0001493152-24-019433.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000149315224019433/0001493152-24-019433-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.