#United States #San Diego #Evofem Biosciences #Aditxt #Mitomic

Evofem Biosciences Announces Stockholder Meeting Results

Evofem Biosciences, Inc. (OTCID: EVFM) recently held a special meeting for its stockholders, where results showcased a pivotal moment for the company. The crucial proposal regarding the Amended and Restated Merger Agreement with Aditxt, Inc. (NASDAQ: ADTX) was not approved by the stockholders, resulting in the company's decision to terminate the agreement. This comes as Evofem pivots towards a new strategic direction centered around its ambitions for a national stock exchange listing and securing crucial growth capital.

In a statement following the meeting, Saundra Pelletier, CEO of Evofem, expressed gratitude towards Aditxt for their support of Evofem's mission and investments. She remarked, "With the outcome of this meeting, we are pivoting to focus our efforts on regaining a national listing for Evofem's stock and securing capital to catalyze our growth trajectory and better position us to deliver sustainable positive EBITDA in 2027." This strategic shift highlights Evofem's commitment to improving its financial standing and overall positioning in the market.

Evofem's relentless pursuit of progress is clear as it works towards executing its long-term growth strategy. The company targets enhancing value for both its investors and the healthcare providers who depend on its essential products related to women's sexual health. A notable aspect of Evofem's portfolio is its two FDA-approved products: PHEXXI® and SOLOSEC®.

Understanding Evofem's Products

PHEXXI®

Evofem’s flagship product, PHEXXI®, is unique as it is the first and only hormone-free contraceptive vaginal gel available. Composed of lactic acid, citric acid, and potassium bitartrate, it allows women to take control of their contraceptive needs on a demand basis. The gel is applied 0-60 minutes before sexual intercourse, providing an effective alternative for women seeking hormone-free options.

SOLOSEC®

In addition to PHEXXI®, Evofem markets SOLOSEC®, a single-dose oral antibiotic granule treatment for bacterial vaginosis and trichomoniasis, targeting females aged 12 and older. This direct yet simple approach offers patients a complete course of therapy in just one dose, addressing common sexually transmitted infections (STIs) efficiently.

Evofem has achieved four consecutive years of growth in net sales, a testament to the increasing demand and reliance on these products within the realm of women’s sexual health.

Future Collaborations

Looking ahead, Evofem emphasizes the importance of its collaboration with Aditxt under the September 2024 agreement. Together, they are set to commercialize the Mitomic™ diagnostic tests aimed at addressing critical health conditions such as endometriosis and ovarian cancer, further broadening Evofem's reach in women's health innovation.

In conclusion, while the recent stockholder meeting did not yield the expected approval for the merger, it opens the door for Evofem to refocus and strengthen its strategic initiatives. With a clear vision of regaining national listing and capitalizing on growth opportunities, Evofem seeks to enhance its impact in the lives of women through dedication to sexual health advancements. Stakeholders can follow the company’s developments as it navigates this critical phase, positioning itself for a prosperous future.