Connect with us

Emerging Markets

Evofem Biosciences Inc (OTCMKTS: EVFM) Steady Rise Northbound as Co Uplists to OTCQB Venture & Phexxi Approved in Nigeria While Sales Pick Up Rapidly

Published

on

Evofem Biosciences Inc (OTCMKTS: EVFM) has been on the move northbound in recent trading since reversing off $0.071 new 52-week lows. The Company was delisted by the Nasdaq in August for failing to meet the minimum bid requirements and at $0.26 is trading at a fraction of the $8 it commanded in March or the $100 per share EVFM was trading at just 2 years go. Everyone knows how explosive ex Nasdaq can be once on the OTC and EVFM has big potential; the Company recently launched its first FDA-approved product, Phexxi® a hormone-free, on-demand prescription contraceptive vaginal gel.  

Sales of Phexxi have been picking up rapidly with EVFM reporting $10.25 million in revenues in the first 6 months of 2022. Revenues are expected to continue to grow at a brisk rate, recently another highly respected national-level payer began covering Phexxi. The Phexxi claim approval rate reached a new high for 2022 at more than 72% for the month of July. EVFM has been busy this month; they uplisted to the OTCQB Venture Market from the OTC Pink Open Market. Phexxi has also been approved by the Nigerian Regulatory Agency NAFDAC (National Agency for Food and Drug Administration and Control). This marks the Company’s first approval outside the United States. Regulatory dossiers have also been submitted in Ghana, Ethiopia and Mexico. The product will be potentially marketed under the brand name Femidence™.    

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Evofem Biosciences Inc (OTCMKTS: EVFM) is developing and commercializing innovative products to address unmet needs in women’s sexual and reproductive health, including hormone-free, woman-controlled contraception and protection from chlamydia and gonorrhea. The Company’s first FDA-approved product, Phexxi® (lactic acid, citric acid and potassium bitartrate), is a hormone-free, on-demand prescription contraceptive vaginal gel. It comes in a box of 12 pre-filled applicators and is applied 0-60 minutes before each act of sex. Last week the Company completed Phase 3 EVOGUARD clinical trial evaluating EVO100 for the prevention of chlamydia and gonorrhea infection in women did not achieve its endpoints. 

Phexxi was approved by the FDA on May 22, 2020 and is the first and only FDA-approved, hormone-free, woman-controlled, on-demand prescription contraceptive gel for women. Evofem commercially launched Phexxi in September 2020 in the United States. The Company intends to commercialize Phexxi in all other global markets through partnerships or licensing agreements. 

EVO200 vaginal gel (EVO200), Evofem’s investigational candidate for the reduction of recurrent bacterial vaginosis (BV), uses the same proprietary vaginal pH modulator platform as Phexxi. EVO200 has been designated a QIDP by the FDA for this indication. In a Phase 1 dose-finding trial for this indication, the highest dose formulation of the study drug demonstrated reduced vaginal pH for up to seven days following a single administration. We may decide to pursue further development of EVO200 in the future. 

Phexxi, EVO200, and other product candidates in development share similar non-hormonal, acid-buffering, bioadhesive properties. However, they are designed differently to target viral and bacterial pathogens while playing an integral role to the survival of healthy bacteria in the vagina, enabling women to achieve better sexual and reproductive health. 

To Find out the inside Scoop on EVFM Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

EVFM

EVFM has been busy this month; they uplisted to the OTCQB Venture Market from the OTC Pink Open Market. The women’s health focused biotech company developed and commercializes Phexxi® (lactic acid, citric acid, potassium bitartrate), the first and only FDA-approved hormone-free, contraceptive vaginal gel. Phexxi net sales have increased for three consecutive quarters; the Company expects that third quarter results, due in mid-November, will continue this trend. Net product sales of the hormone-free contraceptive had already surpassed 2021 levels in the first half of 2022.    

Evofem is on track to report top-line data in mid-October 2022 from its registrational Phase 3 clinical trial evaluating Phexxi for the prevention of chlamydia and gonorrhea in women. Positive study outcomes would enable regulatory submissions and potential approval for these potential new indications in 2023.  If approved by the FDA, Phexxi will be the first woman-controlled prescription prophylactic against chlamydia and gonorrhea, which are a significant and growing public health concern. Preliminary CDC data for 2021 show that infections with chlamydia and gonorrhea continued to increase during the second year of the COVID-19 pandemic, with no signs of slowing. 

Phexxi has also been approved by the Nigerian Regulatory Agency NAFDAC (National Agency for Food and Drug Administration and Control). This marks the Company’s first approval outside the United States. Regulatory dossiers have also been submitted in Ghana, Ethiopia and Mexico. The product will be potentially marketed under the brand name Femidence™.    

In October 2020, Adjuvant Capital made a $25 million strategic investment to expand global market access for Phexxi® (lactic acid, citric acid, potassium bitartrate) vaginal contraceptive gel and to support EVOGUARD, Evofem’s registrational Phase 3 clinical trial evaluating Phexxi for the prevention of chlamydia and gonorrhea in women. Evofem is on track to report top-line data from this landmark trial in mid-October 2022. Positive study outcomes would enable regulatory submissions and potential U.S. approval for prevention of these sexually transmitted infections in 2023. As previously reported, Evofem has experienced strong growth in net sales of Phexxi® (lactic acid, citric acid and potassium bitartrate), as well as market access expansion, as payers and pharmacy benefit managers (PBMs) continue to add Phexxi to their formularies, allowing women to fill their prescriptions immediately. 

 

 For More on EVFM Subscribe Right Now!

Currently trading at a $14 million market valuation EVFM OS is 25,877,050 shares with authorized at 500 million. With $20 million in cash in the treasury EVFM was recently able to restructure its debt, providing forbearance from its debtholders related to all existing events of default. EVFM is an exciting situation in small caps; the Company was delisted by the Nasdaq in August for failing to meet the minimum bid requirements and at $0.26 is trading at a fraction of the $8 it commanded in March or the $100 per share EVFM was trading at just 2 years go. Everyone knows how explosive ex Nasdaq can be once on the OTC and EVFM has big potential; the Company recently launched its first FDA-approved product, Phexxi® a hormone-free, on-demand prescription contraceptive vaginal gel. Sales of Phexxi hormone-free, on-demand prescription contraceptive vaginal gel sales have been picking up rapidly with EVFM reporting $10.25 million in revenues in the first 6 months of 2022. EVFM has a lot of potential from current levels; some of the biggest runners in small history over the past 10 years have been ex big bord biotech’s, EVFM should be at the top of penny stock speculators watch lists here. We will be updating on EVFM when more details emerge so make sure you are subscribed to Microcapdaily.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in EVFM either long or short and we have not been compensated for this article.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Emerging Markets

Is today’s surge in MMTec Inc (NASDAQ: MTC) justified ?

Published

on

MMTec, Inc. (NASDAQ: MTC) ended the day at $2.0700 with a gain of $0.5800 (+38.93%). The stock prices fluctuated between $1.4000 - $2.5299, with more than 2.98M shares exchanging hands.

MMTec, Inc. (NASDAQ: MTC) ended the day at $2.0700 with a gain of $0.5800 (+38.93%). The stock prices fluctuated between $1.4000 – $2.5299, with more than 2.98M shares exchanging hands.

So why did MTC surge today ?

The failure of Silicon Valley Bank led to a sell-off in equities and a shift to safe-haven assets, such as US Treasuries and gold. Markets have calmed down somewhat, and the worst of the equity sell-off seems to be over. However, the market anticipates that the markets will be somewhat uneasy until a better understanding of inflation is reached and what the Federal Reserve will do next week.

To Find out the inside Scoop on MTC, Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Despite most investors currently avoiding the banking sector, Wall Street sees potential opportunities, particularly in regional banks. The chaos in the market has created opportunities in the industry and several banking stocks are being punished just for being a banking stock. The collapse of Silicon Valley Bank was due to its specialisation in venture-capital financing, which made it vulnerable to the higher interest rate regime of the past 12 months.

For more on MTC Subscribe Right Now!

Therfore, today’s gains in MTC seems to be more a sympathy bounce considering the overall banking sector. Earlier in March, MMTEC, Inc. (Nasdaq: MTC) declared that it will relocate its operations from Beijing to the Hong Kong Special Administrative Region, effective March 6, 2023. The Company’s subsidiary, MM Future Technology Limited, which is a Hong Kong incorporated limited company, will assume all operations previously conducted by its subsidiary, Gujia (Beijing) Technology Co., Ltd. However, Gujia will continue to carry out specific technical research and development functions. Further, the Company, through its subsidiary HC Securities (HK) Limited, and other entities, will continue to invest its human resources in asset management and securities underwriting, and other related businesses, aiming to attract global funds to invest in the Chinese market and support China’s economic growth. The Company’s new operations headquarters is located at Room 2302, 23rd Floor, FWD Financial Center, 308 Des Voeux Road Central, Sheung Wan, Hong Kong.

We will be updating on MTC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MTC.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: We have no position in MTC and have not been compensated for this article.

Continue Reading

Emerging Markets

Cazoo Group Ltd (CZOO) is one stock that Wall Street could be talking for day to come

Published

on

Cazoo Group Ltd (NASDAQ: CZOO) last traded at $2.62, a gain of +0.6400 (+32.32%). More than 5M shares exchanged hands compared to an average daily volume of 228K shares. Considering that the 52 week high of CZOO is more than 65$, there seems to be a lot of room to the upside.

To Find out the inside Scoop on CZOO, Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Why did CZOO surge last week? Welcome to the Carvana of the UK!

Cazoo, a publicly traded company (NYSE: CZOO), was founded in 2018 by serial entrepreneur Alex Chesterman OBE. The company’s mission is to revolutionize the UK’s car buying and selling experience by offering consumers better selection, value, transparency, convenience, and peace of mind. Cazoo’s goal is to make the car buying or selling process as simple as purchasing any other product online. The company enables customers to buy, sell, or finance a car entirely online, with delivery or collection available in as little as 72 hours.

Recently, Cazoo Group Ltd, the UK’s leading online car retailer, updated its business performance and progress with the restructuring announced in January. The CEO, Alex Chesterman, expressed satisfaction with the progress made so far in 2023, despite the challenging economic environment. The company has taken swift and decisive management action to restructure the group, improve unit economics, and reduce fixed costs. The rightsizing of headcount and operational footprint is well underway, and the company expects to complete the restructuring before the end of Q1 2023. The company has seen significant improvement in its GPU, with retail GPU tracking at approximately £900, up from £600 in Q4 2022. Cazoo has sold over 100,000 cars entirely online in the UK in the three years since its launch. The company remains fully focused on driving higher profitability and has appointed Jonathan Dunkley as Chief Operating Officer. Cazoo’s cash reserves remain strong, and the company expects to achieve profitability without external funding until H2 2024. The company expects to end 2023 with over £100m of cash and cash equivalents on its balance sheet and sell 40,000-50,000 UK retail units in the current year.

For more on CZOO, Subscribe Right Now!

The online car market in the UK has been growing rapidly in recent years, driven by increasing consumer demand for convenience and transparency in the car buying process. Online car retailers such as Cazoo, Carzam, and Cinch have emerged as major players in the market, offering a wide selection of used cars for sale online with home delivery or pickup options. These companies use advanced technology to provide customers with a seamless buying experience, including virtual vehicle inspections, transparent pricing, and easy financing options. The COVID-19 pandemic has further accelerated the shift towards online car buying as consumers seek to avoid in-person interactions and dealerships adapt to new ways of doing business.

So if CZOO learns from Carvana’s mistake, there is little to no doubt that CZOO could be the talk of the town in days to come. We will be updating on CZOO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CZOO.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in CZOO, either long or short, and we have not been compensated for this article

Continue Reading

Emerging Markets

Ocean Biomedical Stock Surge could just be getting started and here’s why

Published

on

Shares of Ocean Biomedical (NASDAQ:OCEA) surged more than 100% on Thursday, following a talk by the company’s scientific co-founder, Dr. Jack A. Elias, at Brown University’s Legorreta Cancer Center. The preclinical-stage biotech, which went public on the NASDAQ on February 15, focuses on developing novel treatments for deadly diseases, including malaria, multiple cancers, and pulmonary fibrosis.

During the talk, Dr. Elias presented exciting details about potential therapies to suppress tumors in various cancers, focusing on the company’s work in understanding the role of the protein Chitinase 3-like-1 (CHI3LI) in the progression of lung cancer. He also discussed his discoveries on how certain monospecific and bispecific antibodies can be used as therapies to treat non-small cell lung cancer (NSCLC) and glioblastoma multiforme (GBM). The company aims to expedite these findings into phase 1 trials.

To Find out the inside Scoop on OCEA, Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

The excitement over this preliminary news stems from the large target groups for both diseases. According to Cancer.net statistics, NSCLC is the leading cause of cancer death and the second-most diagnosed cancer in the US, affecting around 236,740 people. GBM is the most common primary brain tumor in adults, with an average survival period of just 15 months and no cure.

The recent surge in Ocean Biomedical’s shares also comes on the heels of an announcement on February 28 that co-founder Dr. Jonathan Kurtis had been awarded a patent for the discovery of the third parasite target PfCDPK-5. This target has the potential to be used to halt the malaria parasite in various stages of its cycle, opening up new possibilities for treating this deadly disease.

Ocean Biomedical’s focus on developing novel treatments for deadly diseases and its recent exciting findings have generated significant investor interest. However, it is important to note that investing in preclinical-stage biotech companies carries a high level of risk. There is no guarantee that these discoveries will translate into effective treatments or that the company will receive regulatory approval.

For more on OCEA Subscribe Right Now!

Nevertheless, the positive developments from Ocean Biomedical are a significant milestone and hold great promise for patients suffering from deadly diseases such as cancer and malaria. If the company’s discoveries prove successful in further clinical trials, they could potentially generate significant revenue and transform the standard of care for these diseases. We will be updating on OCEA when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with OCEA.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in OCEA, either long or short, and we have not been compensated for this article

Continue Reading

Trending

© All rights reserved.

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.