Evofem Biosciences is a company that develops and markets medical products that help improve the lives of women; for example, Phexxi, a contraceptive gel, and EVO100, gel for fighting infections like Chlamydia trachomatis and Neisseria gonorrhoeae. The company is actively promoting its first product, which has already received FDA approval. For example, it collaborates with the National Community Oncology Dispensing Association to get many people to know about Phexxi. Its stock is trading on the pre-market at $ 0.50, which is 30% more than the price before the close of the main session. On Jan 11, it surged $ 0.38 on a market cap of $ 63.398M.
The Health Resources and Services Administration (HRSA) and the US Department of Labor have issued a contraception requirement that Evofem Biosciences is very pleased with. According to the requirement, women won’t spend money on such FDA-approved contraception, since all costs will be borne by insurance companies and PBMs. This news is very encouraging as it will serve to reduce the number of unplanned pregnancies.