EQS-News Women’s Healthcare Company Agile Therapeutics Says It Believes It Has An Effective Business Plan In Place For Growth And Generating Positive Cash Flow
EQS-News: Agile Therapeutics, Inc.
Agile Therapeutics Inc. (NASDAQ: AGRX) is on a journey to fulfill the unmet health needs of women with products designed to provide them with contraceptive options.
The company’s product and product candidates are designed to provide women with contraceptive options that offer freedom from taking a daily pill without committing to a longer-acting method.Twirla
Agile’s initial product Twirla (levonorgestrel and ethinyl estradiol) transdermal system, is a nondaily prescription contraceptive based on the company’s proprietary transdermal patch technology called Skinfusion, which is designed to allow drug delivery through the skin.
The Twirla transdermal system is a once-weekly combined hormonal contraceptive (CHC) patch that contains the active ingredients levonorgestrel (LNG), a type of progestin, and ethinyl estradiol (EE), a type of estrogen.
The patch is used as a contraceptive by women with a body mass index (BMI) less than 30 kilograms per meter (kg/m2) for whom a combined hormonal contraceptive is appropriate. It is less effective in women with a BMI of 25 or more.Q3 Financial Results And Corporate Update
On Nov. 7, Agile released financial results for the three months that ended Sept. 30 and provided a corporate update.Financial Results Highlights:
Net revenue: Twirla delivered $3.0 million in net revenue for the third quarter of 2022. This was an increase of 43% from the second quarter of 2022 – the largest quarter-over-quarter increase the Company has achieved.
Cost of product revenue: Cost of product revenue totaled $1.4 million and consisted of direct and indirect costs related to the manufacturing of Twirla sold, compared to $2.7 million for the third quarter of 2021 – a decrease of 47%. The decrease reflects the elimination of an inventory obsolescence reserve, which the company established in the third quarter of 2021.