On Monday Evofem Biosciences Inc (OTCMKTS:EVFM) was in the news after it announced that two more United States patents had been listed for its product Plexxi. The two indications had also been labelled in the United States Food and Drug Administration publication named Approved Drug Products with Therapeutic Equivalence Evaluations, which is more colloquially known as the Orange Book.
Trading Data
On Monday, EVFM stock slumped 11.43% to $0.0310 with 5.44 million shares, compared to volume of 2.20 million shares. The stock moved within a range of $0.0255 – 0.0388 after opening trade at $0.0355.
Evofem Biosciences Announces FDA Orange Book Listing of Two Additional U.S. Patents for Phexxi
It was a significant new development for the company and one that is expected to come as a long term boost for Evofem. It is going to be interesting to see if this brings the company’s stock into focus among investors over the course of the coming days or not.
Saundra Pelletier, the Chief Executive Officer of Evofem, spoke about the latest development as well. She noted that the listing in the Orange Book of the two patents as methods of contraception was a major stop for the company in further boosting its patent portfolio.
However, she went on to add that the company was going to work on further expansion of its intellectual property in the United States and overseas. The company is mainly involved in the development and commercialization of products meant for meeting the needs of women’s reproductive and sexual health.
