Although there has been no news about Evofem Biosciences Inc (NASDAQ:EVFM) for more than two weeks, the company’s stock has made a strong move over the course of the past week or so and the move continued on Tuesday.
The stock was in considerable focus yesterday as it ended the day with gains of 13% and thereby took its gains over the course of the past week to as much as 21%. Since there has been no news about the company it might be a good move to take a look at the financial results that were announced by Evofem on August 11 for the quarter and the half year period, both of which ended on June 30, 2021.
In the three month period, the company managed to bring in as much as $1.9 million in the form of product sales through Plexxi. That reflected a rise of as much as 68% on a sequential basis.
The product had been introduced in September last year and hence, there were no sales in the year ago period. On the other hand, the total expenses of Evofem went down by as much as 6% to $43 million and that is possibly another important positive for investors.