Why is Evofem Biosciences (EVFM) Stock Plummeting?

Unfortunately, the public offering makes a stock rise a bit although it is not really famous. Today we witness the worst scenario from Evofem Biosciences (NASDAQ: EVFM) that decides to raise funds for further R&D projects. The stock is plunging 37% to $0.8009.

Why is Evofem Biosciences (EVFM) Stock Plummeting?

Recently, the company announced that it will present some data about EVO100 that is believed to be a cure for gonorrhea and chlamydia. These diseases are widespread among women who are exceeding the number of males in the world and the product could make good revenue if it passes all the clinical tests.

Related:  Enzolytics (ENZC) Attempts To Recover: Should You Buy Next Week?

That’s why Evofem is planning to get $50 million from the public by adding some more ownership to newcomers. The upcoming project is quite risky but the penny EVFM stock worth purchasing for risk-loving traders. Everything depends on Evofem’s research lab. Biotech stocks are always fit for an adventurous pack of traders with a hunger for making huge margins.

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life