Evofem Biosciences, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 06:56 am EST
Share
Evofem Biosciences, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net income was USD 66.01 million compared to USD 89.51 million a year ago. Basic earnings per share from continuing operations was USD 15.34 compared to USD 135.72 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to diluted loss per share from continuing operations of USD 4.39 a year ago.
For the nine months, net income was USD 55.09 million compared to net loss of USD 68.36 million a year ago. Basic earnings per share from continuing operations was USD 21.42 compared to basic loss per share from continuing operations of USD 206.38 a year ago. Diluted earnings per share from continuing operations was USD 0.09 compared to diluted loss per share from continuing operations of USD 206.38 a year ago.
Evofem Biosciences, Inc. is a commercial-stage biopharmaceutical company. The Company is commercializing advanced products to address unmet needs in womenâs sexual and reproductive health. The Companyâs first FDA-approved product, Phexxi (lactic acid, citric acid, and potassium bitartrate), is a hormone-free, on-demand prescription contraceptive vaginal gel. It comes in a box of 12 pre-filled applicators and is applied 0-60 minutes before each act of sex. Phexxi is an advanced gel that works to prevent pregnancy without the use of hormones. Phexxi prevents pregnancy by reducing sperm motility, inhibiting sperm from reaching the ovum to form a zygote. Phexxi is designed to address underserved and unmet needs in the birth control market. Additionally, the Company offers women direct access to Phexxi through its telehealth partner. Using this platform, women can have a telehealth visit with a health care provider (HCP) to determine their eligibility for a Phexxi prescription.