Evofem Biosciences: Expects Record Phexxi Prescriptions and Strong Net Sales Growth in Q4 2021 – Form 8-K
Evofem Biosciences Expects Record Phexxi Prescriptions and Strong Net Revenue Growth in Q4 2021
SAN DIEGO, CA, December 9, 2021 -Evofem Biosciences, Inc. (NASDAQ: EVFM) today announced bullish expectations for prescription and net revenue growth in the fourth quarter of 2021.
• The total monthly prescriptions (TRx) of Phexxi® (lactic acid, citric acid and potassium bitartrate) are on track to exceed 30,000 in the fourth quarter of 2021, representing an increase of approximately 70% from levels of Third trimester TRx.
• The company expects more than 57,000 women to have chosen Phexxi from launch in late 2021, with nearly 24,000 in the fourth quarter alone.
“Gross revenues are set to increase by more than 50% from the third quarter,” said Saundra Pelletier, CEO of Evofem Biosciences. “We believe this is proof that women are seeking non-hormonal contraception as the standard of care. Our team’s continued execution to build on the strong base of Phexxi users and prescribers will lead to a strong end. until 2021. ”
“Shareholders should expect continuous improvement in gross / net sales. Based on growing demand for Phexxi, we expect to meet or exceed the current analyst consensus estimate for fourth quarter net sales, ”Pelletier said. “We are also diligently reducing our quarterly net cash consumption rate and expect it to decline by at least $ 10 million from third quarter levels starting in fourth quarter 2021.”
Phexxi is a hormone-free prescription contraceptive vaginal gel. Evofem launched its famous DTC “House Rules” campaign, featuring actress Annie Murphy, in September 2021 to increase awareness of Phexxi among its target audience and stimulate prescription growth.
About Evofem Biosciences
Evofem Biosciences, Inc., (NASDAQ: EVFM) develops and markets innovative products and product candidates to address unmet women’s sexual and reproductive health needs, including female-controlled hormone-free contraception and protection against certain sexually transmitted infections (chlamydia and gonorrhea). The Company’s first FDA-approved product, Phexxi® (lactic acid, citric acid and potassium bitartrate), is a hormone-free product,
Vaginal contraceptive gel on demand on demand. It comes in a box of 12 pre-filled applicators and is applied from 0 to 60 minutes before each intercourse. Learn more at phexxi.com and evofem.com.
Phexxi® is a registered trademark of Evofem Biosciences, Inc.
This press release contains “forward-looking statements” within the meaning of the safe harbor for forward-looking statements under Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. statements forward-looking statements are statements other than historical facts and relate to future events or circumstances and the future performance of the company. These statements include, but are not limited to, estimates and expectations regarding prescription growth, revenue growth, results of gross to net improvements and reductions in cash consumption, as well as statements, assessments. and judgments relating, among other things, to Phexxi’s request and to the and future impact of the “House Rules” campaign. These statements and estimates are based on management’s current assumptions, expectations and beliefs regarding future developments and their potential effect on the Company’s business. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Various factors could cause actual results to differ materially from these estimates and from those discussed or implied in forward-looking statements, including market and other conditions and the Company’s ability to raise capital when and under. the needs to continue its current activities. Other important factors which could cause actual results to differ materially from those discussed or suggested in forward-looking statements, or which could adversely affect the value of Evofem Biosciences assets and businesses, are disclosed in the documents filed by the company with of the SEC, including its annual report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on March 4, 2021 and its quarterly report on Form 10-Q for the quarter ended September 30 2021, filed with the SEC on November 15, 2021. All forward-looking statements are expressly qualified in their entirety by such factors. The Company does not undertake any obligation to update forward-looking statements, except as required by law.
Evofem Biosciences, Inc.
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