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EVFM Promotional Newsletter
The following is a newsletter released by "Broad Street Alerts" promoting Evofem Biosciences, Inc.
Reproductive Rights, Birth Control and Sexual Health are Hot Topics in America and Evofem EVFM is a Big Part of That Discussion
EVFM has a contraceptive that is hormone free, used on demand, and may be free to consumers.
Good day everyone,
Evofem Biosciences, Inc. NASDAQ EVFM has products to address unmet needs in women's sexual and reproductive health.
Current price $.84share as of 11AM EDT 8-8-22
We first talked about EVFM in early June when the company shares were priced at $.3466. Since then, EVFM shares have traded as high as $1.50share fueled by the SCOTUS decision to void abortion rights protection under the U.S. Constitution and leaving the establishment of those rights up to the individual states.
I want to talk about the company again because it still looks oversold, their Phexxi products sales are booming, and they have a steady stream of potential catalysts being reported. The company 10-Q for the second quarter ended June 30, 2022, hasnt been posted as of this report, but the company has provided a lot of financial data. Lets first look at why EVFM looks oversold
Revenues Q2 $6.0M
QoQ revenue growth
Q2 2022 sales of Phexxi were up 42% over Q1 2022 and on Thursday, August 4th, the company reaffirmed guidance for $30-35M in FYE 2022 revenues representing a YoY increase of up to 335%.
622022 Laidlaw Initiated Coverage Buy $3.50
4122022 Morgan Stanley Underweight $7.95 $8.55
Potential catalysts since our initial report
The Evaluating Phexxi for the Prevention of Chlamydia and Gonorrhea in Women has just enrolled the last of 1,900 subjects in the study with topline data anticipated in October. Positive results from the study could be huge for the company making Phexxi an effective birth control products that also deters STDs.
Two weeks ago, the Departments of Labor, Health and Human Services, and Treasury released guidance clarifying that , including emergency contraceptives, at no cost to individuals.
In July, with a360 Media under which Phexxi branded content will appear in some of the most widely read entertainment and lifestyle magazines and websites in the U.S. a360 Media's Brands Include US Magazine, InTouch Weekly, and Woman's World.
The United States Patent and Trademark Office for patent application 16738,868 entitled, Compositions and Methods for Enhancing the Efficacy of Contraceptive Microbicides which covers the composition of matter of Phexxi lactic acid, citric acid, potassium bitartrate and is expected to provide protection into at least 2033.
I would be remiss if I didnt also point out this headline from a on July 21, featuring host Alexandra Semenova Short interests in Evofem jumps from 6% to 50% in June following the Roe v. Wade decision. Short interest in EVFM shares remains but as we all know, there is a price level that will squeeze those short sellers out.
Why Phexxi is a hot product and will continue to build market share
Hormone free Its a big deal as people around the world dont even want hormones in their food. There are a lot of effective birth control products already, pills, shots, implants IUDs and they are all hormone based. Phexxi is a combination of lactic acid, citric acid, and potassium bitartrate in a gel form. Hormone free
In an , EVFM CEO Saundra Pelletier said, Phexxi is the first and only birth control product that has no hormones, no systemic activity in the body, is the only birth control product that does not negatively impact a woman's ovaries and is used only when you need it and never when you don't.
According to Dr. Todd Chappell, a practicing obstetrician in an article published in the Journal of Therapeutic Advances in Reproductive Health, Phexxi offers women a truly innovative, on-demand and FDA-approved method to prevent pregnancy that does not alter the natural function of the ovaries.
Government guidelines that may make Phexxi free to most women recently issued July 29th. EVFM plans to renew discussions with insurers and pharmacy benefit managers PBMs that are not yet compliant with these guidelines to ensure they cover Phexxi lactic acid, citric acid, and potassium bitartrate at no cost to individuals.
According to Fortune Business Insights, the contraceptives market size was $22.49 billion in 2019 and is projected to reach $30.15 billion by 2028, exhibiting a CAGR of 5.5%. Given that projection, each 1% of the 2028 market will be worth $301M. So, the question to ponder is, how much market share could a product like Phexxi, a hormone free, effective contraceptive and potential STD inhibitor, achieve
EVFM shares are trading above their 50 SMA of $71. The 200 SMA of $4.59 seems, to me, to be more reflective of the true value of the company.
We will have more on EVFM soon,
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