The past week has not been particularly great for Evofem Biosciences Inc (NASDAQ:EVFM) shareholders as the company’s stock went through a tough time and recorded losses of as much as 18%.
Trading Data
On Monday, EVFM stock moved down 3.43% to $0.2477 with more than 2.15 million shares, compared to its average volume of 3.03 million shares. The stock moved within a range of $0.2362 – 0.2501 after opening trade at $0.2565.
Evofem Announces Karina Fedasz as Company’s New Head of Business Development
While the investors must be hoping for a quick recovery in the stock price, it is important to point out that on Monday the company also made a major new announcement. It announced that it had made Karina Fedasz the new Head of Business Development at Evofem. In her new role at the company, Fedasz is going to be responsible for not only business development but also for overseeing the pipeline and product portfolios.
On the other hand, she is also going to be responsible for considering new business initiatives and for taking forward the different access partnerships that the company may have in place all over the world. It is a major new appointment and as one can see, Fedasz is expected to have a significant role in the future of the company.
It is now going to be interesting to see if the sentiments among investors change with regards to the Evofem stock or not. It may be a good time to perhaps start tracking it.
Key Quote
“Evofem is bringing increasing numbers of women access to Phexxi, a hormone-free contraceptive, in the United States. We are now stepping up efforts to bring women access to Phexxi outside the U.S.,” said Saundra Pelletier, Chief Executive Officer of Evofem. “Karina’s decades of success in deal-making, in our ever-increasing global economy, has already started helping Evofem establish and build the partnerships that will allow Phexxi access to new markets around the world.”
Technical Data
EVFM stock is trading below the 20-Day and 50-Day Moving averages of $0.33 and $0.70 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.61.
