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Jun 30, 2021
Evofem Biosciences Q2 2021 Earnings Report
Reported strong growth in Phexxi prescriptions and dispensed units.
Key Takeaways
Evofem Biosciences reported a 68% increase in Phexxi net product sales, reaching $1.9 million, alongside a decrease in total operating expenses by 6%. The company's net loss attributable to common stockholders improved to $33.4 million, or $(0.27) per share.
Phexxi prescriptions filled increased by 47% compared to Q1 2021.
Dispensed units increased by 65% compared to Q1 2021.
Prescriber base grew by 61% in Q2 2021 compared to Q1 2021.
National brand ambassador campaign is launching in September 2021.
Forward Guidance
Evofem is on track to complete enrollment in EVOGUARD by year-end 2021 and expects cost containment measures to result in aggregate savings of $9.5 million on an annualized basis.
Positive Outlook
- Strong and sustainable growth in Phexxi prescriptions.
- Strong and sustainable growth in dispensed units.
- Momentum allows to further accelerate the growth trajectory with celebrity campaign launching in early September.
- On track to complete enrollment in EVOGUARD by year-end 2021.
- Cost containment measures are expected to result in aggregate savings of $9.5 million on an annualized basis.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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