Evofem Biosciences, Inc. Files 2023 Annual Report on Form 10-K

Ticker: EVFM · Form: 10-K · Filed: Mar 27, 2024 · CIK: 1618835

Sentiment: neutral

Topics: 10-K, Annual Report, Evofem Biosciences, Pharmaceuticals, SEC Filing

TL;DR

<b>Evofem Biosciences, Inc. has filed its 2023 10-K annual report, detailing its financial performance and business operations.</b>

AI Summary

Evofem Biosciences, Inc. (EVFM) filed a Annual Report (10-K) with the SEC on March 27, 2024. Evofem Biosciences, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing was made on March 27, 2024. The company was formerly known as Neothetics, Inc., with a name change effective September 5, 2014. Evofem Biosciences is in the Pharmaceutical Preparations industry (SIC code 2834). The company's principal business address is in San Diego, California.

Why It Matters

For investors and stakeholders tracking Evofem Biosciences, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Evofem's financial health, operational strategies, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. Understanding the details within this filing is essential for stakeholders to evaluate the company's progress in the pharmaceutical sector, particularly concerning its product pipeline and market position.

Risk Assessment

Risk Level: — Evofem Biosciences, Inc. shows moderate risk based on this filing. The company's financial performance and operational status are detailed in this 10-K, but specific financial figures and growth metrics are not yet available in this header data, requiring a deeper dive into the full document for a complete risk assessment.

Analyst Insight

Review the full 10-K filing to analyze Evofem Biosciences' detailed financial statements, revenue streams, and management discussion to understand its current financial health and strategic direction.

Key Numbers

Key Players & Entities

FAQ

When did Evofem Biosciences, Inc. file this 10-K?

Evofem Biosciences, Inc. filed this Annual Report (10-K) with the SEC on March 27, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Evofem Biosciences, Inc. (EVFM).

Where can I read the original 10-K filing from Evofem Biosciences, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Evofem Biosciences, Inc..

What are the key takeaways from Evofem Biosciences, Inc.'s 10-K?

Evofem Biosciences, Inc. filed this 10-K on March 27, 2024. Key takeaways: Evofem Biosciences, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023.. The filing was made on March 27, 2024.. The company was formerly known as Neothetics, Inc., with a name change effective September 5, 2014..

Is Evofem Biosciences, Inc. a risky investment based on this filing?

Based on this 10-K, Evofem Biosciences, Inc. presents a moderate-risk profile. The company's financial performance and operational status are detailed in this 10-K, but specific financial figures and growth metrics are not yet available in this header data, requiring a deeper dive into the full document for a complete risk assessment.

What should investors do after reading Evofem Biosciences, Inc.'s 10-K?

Review the full 10-K filing to analyze Evofem Biosciences' detailed financial statements, revenue streams, and management discussion to understand its current financial health and strategic direction. The overall sentiment from this filing is neutral.

How does Evofem Biosciences, Inc. compare to its industry peers?

Evofem Biosciences operates within the Pharmaceutical Preparations industry, focusing on the development and commercialization of healthcare products.

Are there regulatory concerns for Evofem Biosciences, Inc.?

As a publicly traded company, Evofem Biosciences is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of a Form 10-K.

Industry Context

Evofem Biosciences operates within the Pharmaceutical Preparations industry, focusing on the development and commercialization of healthcare products.

Regulatory Implications

As a publicly traded company, Evofem Biosciences is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of a Form 10-K.

What Investors Should Do

  1. Analyze the detailed financial statements within the 10-K to assess revenue, expenses, and profitability for FY 2023.
  2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into the company's performance drivers and outlook.
  3. Examine the 'Risk Factors' section to understand potential challenges and threats facing Evofem Biosciences.

Key Dates

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ended December 31, 2023, providing updated financial and operational information compared to previous filings.

Filing Stats: 4,520 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-03-27 08:40:51

Key Financial Figures

Filing Documents

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 26 Item 1B. Unresolved Staff Comments 74 Item 1C. Cybersecurity 74 Item 2.

Properties

Properties 75 Item 3.

Legal Proceedings

Legal Proceedings 75 Item 4. Mine Safety Disclosures 75 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 76 Item 6. [RESERVED] 76 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 77 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 88 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 88 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 88 Item 9A.

Controls and Procedures

Controls and Procedures 88 Item 9B. Other Information 89 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 89 PART III Item 10. Directors, Executive Officers and Corporate Governance 90 Item 11.

Executive Compensation

Executive Compensation 95 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 109 Item 13. Certain Relationships and Related Transactions, and Director Independence 110 Item 14. Principal Accounting Fees and Services 112 PART IV Item 15. Exhibits and Financial Statement Schedules 114 Item 16. Form 10-K Summary 116

SIGNATURES

SIGNATURES 117 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This annual report on Form 10-K (Annual Report), contains forward-looking statements that involve substantial risks and uncertainties. The forward-looking statements are contained principally in the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations." All statements, other than statements of historical facts, contained in this Annual Report, including statements regarding our strategy, future operations, future financial position, projected costs, prospects, plans and objectives of management, are forward-looking statements. Words such as, but not limited to, "anticipate," "aim," "believe," "contemplate," "continue," "could," "design," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "seek," "should," "suggest," "strategy," "target," "will," "would," and similar expressions or phrases, or the negative of those expressions or phrases, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These

forward-looking statements include, among other things, statements about

forward-looking statements include, among other things, statements about: our ability to continue as a going concern; the consummation of the transactions contemplated by the Merger Agreement and documents related thereto; our ability to remediate the material weaknesses in our internal controls and procedures identified by management; our ability to obtain necessary approvals of any corporate action needing stockholder, FINRA, or other approvals; our ability to file Annual and Quarterly Reports on a timely basis; our ability to raise additional capital to fund our operations; our ability to achieve and sustain profitability; our estimates regarding our future performance including, without limitation, any estimates of potential future revenues; estimates regarding market size; our estimates regarding expenses, revenues, financial performance and capital requirements, including the length of time our capital resources will sustain our operations; our ability to maintain the listing of our shares on the OTCQB Venture Market; our ability to comply with the provisions and requirements of our debt arrangements, to avoid future defaults pursuant to our debt arrangements and to pay amounts owed, including any amounts that may be accelerated, pursuant to our debt arrangements; estimates regarding health care providers' (HCPs) recommendations of Phexxi (lactic acid, citric acid, and potassium bitartrate) vaginal gel (Phexxi) to patients; the rate and degree of market acceptance of Phexxi ; our ability to successfully commercialize and distribute Phexxi and continue to develop our sales and marketing capabilities, particularly after any product rebrand; our estimates regarding the effectiveness of our marketing campaigns; our strategic plans for our business, including the commercialization of Phexxi ; the potential for changes to current regulatory mandates requiring health insurance plans to cover U.S. Food and Drug Administration (FDA)-c

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