Evofem Biosciences (OTCQB: EVFM) is reporting on its financial results and corporate update for Q2 2024; the report also included a report on the first half of 2024. Aditxt (NASDAQ: ADTX), a company dedicated to discovering, developing and deploying promising health innovations, entered into a merger agreement with Evofem last year; the agreement was amended and restated in July 2024, with a targeted close for later this year.
Highlights of the report show that Evofem saw improved loss from operations by 81% with net product sales increasing 69% in the quarter, totaling $4.2 million compared to $2.5 million in the prior year period. Corporate highlights for the period included the acquisition of SOLOSEC, a commercially attractive, single-dose, FDA-approved oral antibiotic designed to treat two pervasive sexual health infections; the licensing agreement for commercial rights of Phexxi(R) in the Middle East; and a partnership with Hello Alpha, a leading telemedicine company, to add Phexxi to its commercial offering.
“Evofem continues to prove that with a disciplined and committed team we can maneuver through challenges in the market and successfully execute our strategy to expand and diversify our revenue stream,” said Evofem Biosciences CEO Saundra Pelletier in the press release. “Women don’t need more choices, they need better ones, and Evofem will continue to deliver on that promise.”
To view the full press release, visit https://ibn.fm/WWL7r
About Aditxt Inc.
Aditxt is an innovation platform dedicated to discovering, developing and deploying promising innovations. Aditxt’s ecosystem of research institutions, industry partners and shareholders collaboratively drive its mission to “Make Promising Innovations Possible Together.” In December 2023, Aditxt entered into a merger agreement with Evofem under which Aditxt intends to acquire Evofem. The parties reinstated and amended the merger agreement in May 2024 and are working to close the contemplated transaction in the second half of 2024. For more information, please visit www.Aditxt.com.
NOTE TO INVESTORS: The latest news and updates relating to ADTX are available in the company’s newsroom at https://ibn.fm/ADTX
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