Evofem Biosciences Files Q2 2024 10-Q

TL;DR

Evofem Biosciences filed its Q2 2024 10-Q. Check financials.

AI Summary

Evofem Biosciences, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results and provided updates on its business operations. Specific financial figures and operational details for the second quarter of 2024 are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Evofem Biosciences, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Evofem Biosciences faces inherent risks related to drug development, regulatory approvals, and market competition, which are typical for the industry.

Key Numbers

• Q2 2024 — Reporting Period (Financials for the second quarter of 2024 are detailed.)
• 2024-01-01 to 2024-06-30 — Fiscal Year to Date (Covers the first six months of the fiscal year 2024.)
• 2023-01-01 to 2023-06-30 — Prior Year Fiscal Year to Date (Provides a comparison point for the first six months of fiscal year 2023.)

Key Players & Entities

• Evofem Biosciences, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240814 (date) — Filing date of the 10-Q
• Neothetics, Inc. (company) — Former company name
• 20140905 (date) — Date of name change from Neothetics, Inc.

FAQ

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) — 1950KB
• ex10-5.htm (EX-10.5) — 276KB
• ex10-6.htm (EX-10.6) — 198KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 12KB
• 0001493152-24-031846.txt ( ) — 9986KB
• evfm-20240630.xsd (EX-101.SCH) — 58KB
• evfm-20240630_cal.xml (EX-101.CAL) — 64KB
• evfm-20240630_def.xml (EX-101.DEF) — 303KB
• evfm-20240630_lab.xml (EX-101.LAB) — 495KB
• evfm-20240630_pre.xml (EX-101.PRE) — 414KB
• form10-q_htm.xml (XML) — 1773KB

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 Income (Loss) 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 45 Item 4.

Controls and Procedures

Controls and Procedures 45 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 47 Item 1A.

Risk Factors

Risk Factors 47 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 3. Defaults Upon Senior Securities 49 Item 4. Mine Safety Disclosures 49 Item 5. Other Information 49 Item 6. Exhibits 50

Signatures

Signatures 51 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 Amended and Restated Merger Agreement, and documents related thereto; our ability to successfully integrate and commercialize SOLOSEC (secnidazole) 2 g oral granules (SOLOSEC); 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 if and as needed; 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; estimates regarding HCPs recommendations of SOLOSEC to patients suffering from the sexually transmitted infections (STIs) for which it is indicated; the rate and degree of market acceptance of our products; our ability to successfully commercialize and distribute our products and continue to develop our sales and marketing capabilities, particularly after any produ

View Full Filing

View this 10-Q filing on SEC EDGAR