Evofem Biosciences, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Evofem Biosciences, Inc. has filed its Q1 2024 10-Q report, detailing its financial status and operations.</b>

AI Summary

Evofem Biosciences, Inc. (EVFM) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Evofem Biosciences, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is in San Diego, CA. Evofem Biosciences, Inc. was formerly known as Neothetics, Inc. The company's Standard Industrial Classification is Pharmaceutical Preparations [2834].

Why It Matters

For investors and stakeholders tracking Evofem Biosciences, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and operational updates for Evofem Biosciences, Inc. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects in the pharmaceutical sector.

Risk Assessment

Risk Level: — Evofem Biosciences, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, providing routine quarterly financial information without immediate indicators of significant new risks or positive developments.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Evofem Biosciences' current financial position and operational performance.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-15 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Q1 2024 period)

Key Players & Entities

• Evofem Biosciences, Inc. (company) — Filer name
• Neothetics, Inc. (company) — Former company name
• San Diego, CA (location) — Business address city and state
• 2834 (industry) — Standard Industrial Classification

FAQ

Industry Context

Evofem Biosciences operates in the pharmaceutical preparations industry, focusing on developing and commercializing healthcare products.

Regulatory Implications

As a publicly traded company, Evofem Biosciences is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and net income for Q1 2024.
2. Review the Management's Discussion and Analysis section for insights into operational performance and future outlook.
3. Check for any updates on product development, regulatory approvals, or market strategies.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing the most current quarterly data.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share EVFM OTCQB Indicate by

Filing Documents

• form10-q.htm (10-Q) — 1533KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 11KB
• 0001493152-24-019428.txt (&nbsp;) — 8031KB
• evfm-20240331.xsd (EX-101.SCH) — 57KB
• evfm-20240331_cal.xml (EX-101.CAL) — 62KB
• evfm-20240331_def.xml (EX-101.DEF) — 287KB
• evfm-20240331_lab.xml (EX-101.LAB) — 437KB
• evfm-20240331_pre.xml (EX-101.PRE) — 361KB
• form10-q_htm.xml (XML) — 1432KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 1 PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Operations 5 Condensed Consolidated Statements of Convertible and Redeemable Preferred Stock and Stockholders' Deficit 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 45

Signatures

Signatures 46 Table of Contents FORWARD-LOOKING This quarterly report on Form 10-Q (Quarterly 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 Quarterly 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)-cl

View Full Filing

View this 10-Q filing on SEC EDGAR