About Agile Therapeutics
Agile Therapeutics is a healthcare company that focuses on women's health. The company offers contraceptive options that provide an alternative to daily pills, utilizing their proprietary transdermal patch technology, Skinfusion®, for drug delivery through the skin. Agile Therapeutics primarily serves the healthcare industry, specifically the women's health sector. It was founded in 1997 and is based in Princeton, New Jersey.
Agile Therapeutics Patents
Agile Therapeutics has filed 33 patents.
Diabetes, Routes of administration, Euphoriants, Dosage forms, Drug delivery devices
Diabetes, Routes of administration, Euphoriants, Dosage forms, Drug delivery devices
Latest Agile Therapeutics News
Nov 9, 2023
Furthering Promotional Efforts in Five Key States The Company continues to focus its Twirla promotional efforts on five states that have high levels of reimbursement potential for Twirla and are estimated to reach over 45% of U.S. women between the ages of 18 and 24. The Company believes there is more room for growth in these states through increased penetration into the current prescriber base, as well as focusing on current non-writers of Twirla. Additional Volume from the Afaxys Customer Network While the Company grew non-retail demand 71% in the third quarter 2023 compared to second quarter 2023, it estimates that it currently reaches less than 20% of the total Afaxys customer network and plans to tap into additional volume moving forward. Advancing Twirla’s Availability Through Telemedicine Platforms Advancing Twirla’s availability through telemedicine platforms such as Nurx, TwentyEight Health, and Pandia are all part of the Company’s strategy to sustain growth in the retail channel. Third Quarter 2023 Financial Results Net Revenue: In the third quarter 2023, the Company realized net product sales revenue of $6.7 million, an increase of 21% as compared to the second quarter 2023 revenue of $5.5 million. Third quarter 2023 net revenue of $6.7 million represents a 122% increase from the $3.0 million reported for the comparable period in 2022. Cost of Goods Sold (COGS): Cost of goods sold, which consists of direct and indirect costs related to the manufacturing of Twirla sold, was $2.5 million for the third quarter 2023, compared to the $2.3 million reported for the second quarter 2023 and $1.4 million for the comparable period in 2022. Total operating expenses: Total operating expenses were $8.2 million for the third quarter 2023, compared to $8.3 million for the second quarter 2023 and $9.2 million for the comparable period in 2022. Cash: As of September 30, 2023, the Company had $2.9 million of cash, compared to $2.8 million of cash and cash equivalents as of the end of the second quarter 2023. In addition to the Company’s existing at-the-market (ATM) arrangement, the Company will continue to evaluate all available options to finance the Company and continue to explore all opportunities that can potentially accelerate the timeline to generating positive cash flow. GAAP Net Loss: GAAP net loss was $0.8 million or $0.27 per share for the third quarter 2023, compared to a GAAP net loss of $3.8 million, or $2.15 per share, for the second quarter 2023 and a GAAP net loss of $5.9 million, or $8.01 per share, for the comparable period in 2022, respectively. The Company expects to continue to see fluctuations in GAAP net income or loss depending on the non-cash accounting adjustments of its warrants. Non-GAAP Net Loss: Non-GAAP net loss was $4.3 million, or $1.47 per share, for the third quarter 2023, compared to a non-GAAP net loss of $5.5 million, or $3.10 per share for the second quarter 2023, and $19.7 million, or $26.58 per share, for the comparable period in 2022. The Company incurred a one-time, non-cash operating expense charge of $11.1 million in the third quarter 2022 related to the transfer of equipment ownership to Corium, which is reflected in the net loss for the third quarter 2022. The non-GAAP results reflect the exclusion of this charge and of the fair market value remeasurement of warrant liabilities, which resulted in other income of $3.5 million in the third quarter 2023, $1.7 million in the second quarter 2023, and $13.7 million in the third quarter 2022. A reconciliation of GAAP to non-GAAP net loss is provided in the tables accompanying this press release. Shares Outstanding: As of September 30, 2023, Agile had 2,277,657 shares outstanding. For the three months ended September 30, 2023, there were 2,950,136 weighted average shares of common stock outstanding. Conference Call and Webcast A live webcast of the conference call may be accessed via the Investor Relations portion of the Agile Therapeutics website at https://ir.agiletherapeutics.com/events-and-presentations . To participate in the live conference call via telephone, please register here . Upon registering, a dial-in number and unique PIN will be provided to join the conference call. About Agile Therapeutics, Inc. Agile Therapeutics is a women's healthcare company dedicated to fulfilling the unmet health needs of today’s women. Our 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. Our initial product, Twirla®, (levonorgestrel and ethinyl estradiol), a transdermal system, is a non-daily prescription contraceptive. Twirla is based on our proprietary transdermal patch technology, called Skinfusion®, which is designed to allow drug delivery through the skin. For more information, please visit the company website at www.agiletherapeutics.com . The Company may occasionally disseminate material, nonpublic information on the Company’s website, Twitter account ( @agilether ), and LinkedIn account. About Twirla® Twirla (levonorgestrel and ethinyl estradiol) 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. Twirla is indicated for use as a method of contraception by women of reproductive potential with a body mass index (BMI) < 30 kg/m2 for whom a combined hormonal contraceptive is appropriate. Healthcare providers (HCPs) are encouraged to consider Twirla’s reduced efficacy in women with a BMI ≥ 25 to <30 kg/m2 before prescribing. Twirla is contraindicated in women with a BMI ≥ 30 kg/m2. Twirla is also contraindicated in women over 35 years old who smoke. Cigarette smoking increases the risk of serious cardiovascular events from CHC use. Twirla is designed to be applied once weekly for three weeks, followed by a week without a patch. About Prescription Data The Company receives prescription data for Twirla from Symphony Health Solutions, and the data are not created or owned by the Company. Prescription data are available through other subscription services as well, such as IQVIA. Unless otherwise noted, the prescription data results reported in this press release are reported as of September 30, 2023, by Symphony Health Solutions. The prescription data terms are defined as follows: Twirla cycles dispensed are the number of 3-patch packages dispensed. Each 3-patch package represents one 28-day cycle of therapy. Total Cycles Dispensed represents every cycle dispensed from both retail and non-retail channels. Retail channels include retail pharmacies, mail order, and long-term care while non-retail channels include clinics and hospitals and other entities where prescriptions are dispensed directly to the patient. Total prescriptions (TRx) are the total number of prescriptions dispensed through the retail channels. This represents both new and refill prescriptions. New prescriptions (NRx) are new prescriptions dispensed through retail channels. Refill prescriptions (RRx) are refill prescriptions filled through retail channels. Total prescribers are the cumulative number of prescribers whose prescriptions were filled through retail channels since launch. Not all prescription demand in the non-retail channel is reported into third parties like Symphony Health Solutions and IQVIA. The factory sales reported from Twirla wholesalers do include sales to the non-retail channel and, therefore, the Company believes factory sales more closely represent the total demand for Twirla across all channels. Use of Non-GAAP Financial Measures To supplement our consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles (GAAP), we use non-GAAP operating expenses and non-GAAP net loss to measure our financial performance. We define the term non-GAAP operating expenses as GAAP operating expenses excluding one-time, non-cash charges incurred in connection with the loss on disposition of assets. We define the term non-GAAP net loss as GAAP net loss excluding recurring unrealized gains or losses pertaining to liability classified warrants and one-time non-cash charges incurred in connection with the loss on disposition of assets. We believe that the presentation of these non-GAAP financial metrics provides useful information about our operating results, enhances the overall understanding of past financial performance and future prospects, allows for greater transparency with respect to metrics used by our management in its financial and operational decision-making and produces a useful measure for period-to-period comparisons of our business. The presentation of these non-GAAP financial measures are not intended to be a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP and may be different from non-GAAP financial measures used by other companies, and therefore, may not be comparable among companies. We believe the presentation of these non-GAAP financial measures provides meaningful supplemental information regarding our performance; however, we urge investors to review the reconciliation of this financial measures to the comparable GAAP financial measures included in the accompanying tables, and not to rely on any single financial measure to evaluate our business. Forward-Looking Statements Certain information contained in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We may in some cases use terms such as “predicts,” “believes,” “potential,” “continue,” “anticipates,” “estimates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “likely,” “will,” “should” or other words that convey uncertainty of the future events or outcomes to identify these forward-looking statements. Our forward-looking statements are based on current beliefs and expectations of our management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, including statements regarding our ongoing and planned manufacturing and commercialization of Twirla®, the potential market acceptance and uptake of Twirla, including the increasing demand for Twirla in 2023 and beyond, our partnerships with Afaxys and Syneos and their ability to promote growth, our product supply agreement with Nurx and its ability to educate patients about Twirla, our prospects for future financing arrangements and ability to generate positive cashflow, our expected net revenue and operating expenses for full-year 2023, our expectations regarding the generation of positive cash flow in the first quarter 2024, and our financial condition, growth and strategies. Any or all of the forward- looking statements may turn out to be wrong or be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including risks related to our ability to maintain regulatory approval of Twirla and the labeling under any approval we obtain, the ability of Corium to produce commercial supply in quantities and quality sufficient to satisfy market demand for Twirla, our ability to successfully enhance the commercialization of and increase the uptake for Twirla, the size and growth of the markets for Twirla and our ability to serve those markets, regulatory and legislative developments in the United States and foreign countries, our ability to obtain and maintain intellectual property protection for Twirla and our product candidates, the lingering effects of the COVID-19 pandemic on our commercialization efforts, clinical trials, supply chain, operations and the operations of third parties we rely on for services such as manufacturing, marketing support and sales support, as well as on our potential customer base, our ability to regain compliance with the listing requirements of the Nasdaq Capital Market and the other risks set forth in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. For all these reasons, actual results and developments could be materially different from those expressed in or implied by our forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Contact:
Agile Therapeutics Frequently Asked Questions (FAQ)
When was Agile Therapeutics founded?
Agile Therapeutics was founded in 1997.
Where is Agile Therapeutics's headquarters?
Agile Therapeutics's headquarters is located at 101 Poor Farm Road, Princeton.
What is Agile Therapeutics's latest funding round?
Agile Therapeutics's latest funding round is IPO.
How much did Agile Therapeutics raise?
Agile Therapeutics raised a total of $124.55M.
Who are the investors of Agile Therapeutics?
Investors of Agile Therapeutics include Care Capital, Investor Growth Capital, Aisling Capital, Novitas Capital, ProQuest Investments and 5 more.
Who are Agile Therapeutics's competitors?
Competitors of Agile Therapeutics include Aphios, Dicerna Pharmaceuticals, PhaseRx, Biodel, Jennerex Biotherapeutics and 7 more.
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