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Evofem Reports First Quarter 2025 Financial Results and Provides Business Update
EVOFEM BIOSCIENCEVOFEM BIOSCIENC(US:EVFM) Prnewswireยท2025-05-15 11:59

Core Insights - Evofem Biosciences reported a decrease in net sales for Q1 2025, totaling $0.8 million compared to $3.6 million in Q1 2024, attributed to order timing and magnitude shifts for PHEXXI [3][4] - The company achieved a net income of $1.0 million in Q1 2025, a significant improvement from a net loss of $4.9 million in the same quarter of the previous year [4] - Evofem's operating expenses decreased to $0.5 million in Q1 2025 from $6.4 million in Q1 2024, primarily due to reduced research and development costs [3][7] Financial Performance - Net sales for Q1 2025 were $0.8 million, down from $3.6 million in Q1 2024, reflecting a shift in order timing for PHEXXI [3] - Total operating expenses were $0.5 million in Q1 2025, significantly lower than $6.4 million in the prior year [3] - Income from operations was $0.3 million in Q1 2025, compared to a loss of $2.8 million in Q1 2024 [4] Income and Earnings - Net income attributable to common stockholders was $1.0 million in Q1 2025, equating to $0.01 per basic share, compared to a net loss of $4.9 million or $(0.16) per share in Q1 2024 [4][14] - The company recorded a significant reduction in research and development expenses, down by $5.6 million due to successful negotiations with vendors [7] Liquidity and Cash Position - As of March 31, 2025, the company had cash, cash equivalents, and restricted cash totaling $1.1 million, an increase from $0.7 million at the end of 2024 [5] - In April 2025, Evofem raised $1.5 million from the sale of senior subordinated notes and warrants [6][8] Strategic Developments - Evofem is partnering with Windtree Therapeutics to reduce PHEXXI manufacturing costs by 55% to 60% [6] - The company strengthened its intellectual property with the issuance of the 11th U.S. patent for SOLOSEC, extending coverage to 2040 [6] - Evofem is expanding into global markets, including a planned launch of PHEXXI in the UAE in early 2026 through a partnership with Pharma 1 Drug Store LLC [10]