Evofem Shares Jump On Interim Q4 Sales, Phexxi Prescriptions

Evofem Biosciences Inc EVFM achieved preliminary net product sales of $3.5 million in Q4 FY21, more than double in Q3 FY21.

• During the quarter, 39,121 boxes of Phexxi were dispensed, up 81% from Q3. 32,386 Phexxi total prescriptions (TRx) were filled, up 69% from Q3.
• 22,659 new patients started Phexxi, up 56% from Q3.
• Refill volumes continued to increase as a percentage of TRx, reaching 37% in December 2021.
• The Company reduced its net cash burn rate to approximately $17 million in Q4 versus $32.0 million in Q3.
• Raised $5 million of non-dilutive capital in January 2022 to continue funding Evofem's pivotal Phase 3 trial in STI prevention, and other ongoing initiatives.
• "More than 55,000 women made the Phexxi choice in 2021 and our refill rate continues to rise, demonstrating high satisfaction amongst Phexxi users," said Saundra Pelletier, CEO. "We believe these numbers paint a clear picture: women want access to non-hormonal contraception as a standard of care."
• In 2022, the Company expects to benefit from guidance issued last week by the Health Resources and Services Administration and the U.S. Department of Labor.
• Price Action: EVFM shares are up 11.20% at $0.44 during the market session on the last check Wednesday.