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Tag: AGRX stock

  • Agile Therapeutics (AGRX): Navigating Market Volatility with Strategic Moves

    Agile Therapeutics (AGRX), a prominent player in women’s healthcare, is garnering attention for its innovative contraceptive solutions. Their flagship product, Twirla®, offers women a convenient alternative to daily birth control pills through the revolutionary Skinfusion® transdermal patch technology.

    Market Turbulence

    Yesterday, Agile Therapeutics Inc. (NASDAQ: AGRX) experienced a sharp decline of over 5.5% in its stock value, causing ripples of concern among investors. However, in a surprising turn of events during premarket trading today, the company witnessed an astounding surge of 112%, doubling its stock price to $2.10. This unexpected reversal has left market observers perplexed, as there is no apparent catalyst to justify such a dramatic upswing.

    Compliance Extension and Performance Update:

    Delving deeper, it was revealed that this surge could be linked to news from at least a week ago.

    Agile Therapeutics recently announced that it has been granted an extension by the Nasdaq Hearings Panel to regain compliance with the stockholders’ equity requirement for continued listing. This extension, providing until March 25, 2024, to meet Nasdaq’s stringent criteria, has injected renewed optimism into the market.

    Furthermore, Agile Therapeutics shared its preliminary performance outlook for the full year 2023. Expecting robust growth, the company projects net revenue to range from $20 to $21 million, marking an impressive 84% to 93% increase compared to the previous year.

    Additionally, Agile Therapeutics anticipates a significant reduction in operating expenses for 2023, estimating them to range from $30 to $31.5 million, signaling a noteworthy decrease of 44% to 47%.

    Conclusion

    These promising developments underscore Agile Therapeutics’ commitment to delivering value to its shareholders while advancing its mission to provide women with accessible and effective contraceptive options.

    As the company navigates regulatory requirements and pursues growth strategies, investors remain cautiously optimistic about its future trajectory amidst market volatility.

  • Agile Therapeutics Inc. (AGRX) stock Continues its Rally on Rebound Energy

    The long-beaten down transdermal patch developer, Agile Therapeutics Inc. (AGRX) made its comeback on Tuesday. Having bounced back on April 12, the stock rallied in both the regular and after-hours sessions with gains of 47.18% and 27.74% respectively. Thus, after spiking up to $0.1878 in regular trading, AGRX reached $0.2399 in the after hours.

    Source: iStock

    There is no official news or SEC filing from the company behind the comeback.

    AGRX Stock Analysis

    AGRX stock has been plunging down since the company posted missed earnings on March 30, 2022. While the stock was already in a downtrend, the latest news of its sale of tax benefits on April 11 did more harm than good to the stock. Thus, continuing the downtrend, the stock plunged down to a near low on April 11 and closed the session slightly above it. Having a good deal of rebound energy stored over time, the stock finally made a comeback on April 12. Given that there is no other news from the company, the rebound seems to be caused by external factors.

    Market Situation

    Among other external factors like social media discussions and stock sentiment etc., the market situation could also be a cause of the rebound. With the prevailing uncertainty in the market due to multiple factors, investors are trying to make safe bets. Currently, healthcare stocks are one of the safe havens for investors as they are less likely to be impacted by crises and conflicts among other instabilities. Therefore, investors are gladly buying the current dip in AGRX stock as the wider market remains under the cloud of high volatility.

    Sale of Tax Benefit

    On Tuesday, the company announced receiving net proceeds of $4.7 million from the sale of tax benefits through the New Jersey economic development program. The company participated in the Net Operating Loss (NOL) program of the New Jersey Economic Development Authority (NJEDA) under the New Jersey Economic Recovery Act of 2020. The program allows NJ-based tech and bio-tech companies to cash their NOLs through sales to unrelated profitable corporations. Thus, tax losses and credits are turned into cash proceeds for funding growth and operations.

     AGRX’s 2022 Plans

    By 2022 the company has focused its business plan on boosting demand for its transdermal contraceptive Twirla. As per the plans, AGRX has partnered with Afaxys for a co-promotion program and expects to launch a DTC commercial on connected TV this month.

    Additionally, the company will also be holding a Special Meeting of Stockholders this month for approval of a reverse stock split in order to regain compliance with Nasdaq.

  • Update on Participation in Investor Events: Agile Therapeutics, Inc. (AGRX) Stock Rebounds After Hours.

    Agile Therapeutics, Inc. (AGRX) is focused on the fulfillment of women’s unmet health needs. It offers women contraceptive options and the preliminary product of the company is Twirla transdermal system.

    AGRX stock price in the regular trading on March 11, 2022, with a decrease of 6.58% was $0.26. Its price rebounded by 7.31% at the last check of the aftermarket session.

    AGRX: Events and Happenings

    On March 11, 2022, AGRX reported its Executive management to present at the following investor conferences.

    • Virtual Oppenheimer’s 32ndAnnual Healthcare Conference was held on March 17, and
    • Virtual Maxim Group and M-Vest 2022 Growth Conference held on March 28, 2022.

    On March 07, 2022, AGRX announced to issue its fourth-quarter 2021 financials on March 30, 2022. On January 12, 2022, AGRX acknowledged the issuance of guidelines by the tri-agencies, Department of Labor, Health and Human Services, and Treasury to aid in women’s accessibility to FDA-approved contraceptives. On January 10, 2022, AGRX informed the press about its collaboration with Afaxys Pharma, for the promotion of the Twirla transdermal system.

    AGRX: Key Financials

    On November 2, 2021, AGRX released its consolidated third-quarter 2021 financial report for the period ended September 30, 2021. Some important aspects are mentioned below.

    Revenue

    Net revenue delivered by the company in Q3 2021 was $1.3 million compared to no revenue in the same period of 2020. The company reported a 100% surge in its YoY net revenue. Also, it missed the revenue target by $175.2 thousand.

    EPS

    Net loss basic and diluted per share for the company during Q3 2021 was $16.8 million or $0.18 against $15.5 million or $0.18 in the same quarter of 2020. The company topped the EPS estimates by $0.01 and its net loss inclined YoY.

    Conclusion

    AGRX stock is down-performing as it hit 50% year-to-date as the pandemic-related economic restrictions are going to ease internationally. The company announced the upcoming presentation of its Executive management at the virtual investor’s conferences, resultantly its stock swelled. Also, the company is estimating $1.51 million revenue for Q4 2021 against -$0.15 EPS.

  • Agile Therapeutics Inc. (AGRX) Stock Exhibits Minor Volatility Following Promising Q2 2021 Financial Reports

    Agile Therapeutics Inc. (AGRX) stock prices were down 3.45% as of market closing on July 26th, 2021, bringing the price per share down to USD$1.12 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by 4.46%, bringing it up to USD$1.17.

    AGRX Stock Prescriptions Improved

    The second quarter of 2021 saw AGRX stock report total prescriptions coming in at 5,027, up a massive 171% from the numbers reported for the prior quarter. New prescriptions were up 103% over the quarter, reported at 2,857. These increases were driven by increases in the number of prescribers and growing refill rates. As of June 30th, 2021, the company reported more than 2,087 healthcare providers, while 2,033 prescriptions were dispensed as refills. Up 355% from the prior quarter. AGRX also reported an increase in the total number of prescriptions per prescriber.

    AGRX Stock’s Market Reach

    AGRX stock has continued expanding the market footprint of Twirla, with it being available to Medicaid patients across roughly 75%, either through traditional and/or managed Medicaid. This development sees Twirla cover roughly half of the total Medicaid transdermal TRx market with no restrictions. Based on claims, Twirla reports having access to roughly 55% of the commercial and government CHC market.

    Cost of Product Revenue

    Cost of product revenues for the quarter ended June 30th, 2021 was reported at USD$1.1 million and included direct and indirect expenses. These costs supported AGRX stock’s manufacturing and distribution efforts, including, but not limited to, personnel costs and roughly USD$500,000 of non-cash depreciation expense. These relatively fixed costs are expected to stay roughly the same as sales increase with expected volume increases.

    Additional Financials

    AGRX stock was selling units from validation batches until May 2021, with no associated product cost on account of the cost having been previously expensed already. Roughly 76% of the units sold over the second quarter of 2021 had an associated product cost, as will all future sales of the product. As of June 30th, 2021, the company reported USD$31.1 million in cash, cash equivalents, and marketable securities. This is compared to the USD$54.5 million reported as of December 31st, 2020.

    Future Outlook for AGRX

    With the company’s flagship Twirla gaining traction and snowballing in sales, AGRX stock is poised to capitalize on the increasing momentum. The company is keen to continue its trajectory of success as it effectively allocated its resources to stay lean. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.