Agile Therapeutics Tightens Q2 Forecast For Contraceptive Patch 'Twirla'

Agile Therapeutics Inc AGRX expects Q2 FY22 Twirla demand to be at the mid-point of the earlier provided outlook of 20,000 - 22,000 cycles (new range 21,000 - 21,500 cycles).
It represents approximately 26% to 30% quarter-on-quarter growth.
The updated Twirla demand guidance reflects continued progress in retail and non-retail channels. The non-retail channel shows significant quarter-over-quarter growth via the company's partnership with Afaxys.
Twirla (levonorgestrel and ethinyl estradiol) transdermal system is a once-weekly combined hormonal contraceptive patch that contains the active ingredients levonorgestrel, a type of progestin, and ethinyl estradiol, a type of estrogen.
Additionally, the company expects Q2 operating expenses to be $11.5 million - $12.5 million (prior view $12.5 million - $13.5 million).
The change is primarily attributable to optimizing the Twirla sales force and marketing efforts to focus on the most productive territories with high volume and favorable third-party reimbursement.
Price Action: AGRX shares are down 4.99% at $0.65 during the market session on the last check Tuesday.