Evofem Biosciences (EVFM) Loses 20% Within Four Days After Announcing The Q2 Financial Result.

On Wednesday, the company’s stock was closed at $0.8376 after a couple of hours; it reached $0.8508. But the price in five days is hugely sinking, beginning on August 12 to today the company has lost almost 20%—currently, it’s trading at $0.6803.shutterstock 529380235bEvofem Biosciences, Inc. declared financial results for the three- and six-month periods ended June 30, 2021. Cash and cash equivalents amounted to 47.0 million US dollars on June 30, 2021. In addition, on June 30, 2021, for use are available restricted cash in the amount of 14.9 million US dollars from Adjuvant bonds.

Phexxi net product sales rose 68 percent to $1.9 million in the three months ended June 30, 2021, compared to $1.1 million in the three months ended March 31, 2021. In the second quarter of 2021, total other income, net was $7.7 million, primarily due to an $8.9 million change in fair value due to mark-to-market adjustments and $1.2 million in interest cost for the convertible notes issued in 2020.

Jack Dawkins

Finance and Tech Contributor

Jack Dawkins has 1680 posts and counting. See all posts by Jack Dawkins