Agile Therapeutics(US:AGRX)2024-03-28 14:46Financial Data and Key Metrics Changes - Full year 2023 net revenue was $19.6 million, an 80% increase from $10.9 million in 2022 [8] - Operating expenses for full year 2023 were $30.5 million, a 33% decrease from $45.5 million in 2022 [10] - The company closed 2023 with a net loss of $14.5 million, improved from a net loss of $25.4 million in 2022 [18] Business Line Data and Key Metrics Changes - Twirla demand for 2023 was 243,841 total cycles, a 131% increase from 2022 [8] - Twirla factory sales for 2023 were 248,220 total cycles, a 117% increase from 2022 [9] - Fourth quarter 2023 net revenue was $3.6 million, a 46% decrease from $6.7 million in the third quarter [11] Market Data and Key Metrics Changes - The gross-to-net charges in Q4 2023 increased due to higher Medicaid activity, increased returns reserve, and a larger mix of non-retail business [11] - Preliminary Twirla demand numbers for January 2024 showed the highest retail channel cycles in a single month since launch [12] Company Strategy and Development Direction - The company emphasizes partnerships to maximize Twirla's growth potential and is exploring strategic opportunities [13] - The elimination of debt owed to Perceptive Advisors is seen as a significant milestone, providing flexibility for future opportunities [13] Management's Comments on Operating Environment and Future Outlook - Management views the fourth quarter 2023 performance as an anomaly and expects a rebound in early 2024 [11][12] - The company remains optimistic about the Biden administration's efforts to enhance access to no-cost contraception, which could benefit Twirla's growth [15][16] Other Important Information - The company received a final delisting notice from Nasdaq and is now trading on the over-the-counter market [14] - In January 2024, the company raised $4.8 million in gross proceeds through a warrant exchange agreement [18] Q&A Session Summary - No Q&A session was conducted following the prepared remarks [19]