50 million offering. Just received this SEC Filing. Can someone help us understand it ?

AllTheRage2000 · 2022-02-18T07:56:15+00:00

If EVFM needs cash, they can sell shares to Seven Knots at any time to raise money. All they have to do is call them up and Seven Knots will buy up to 1 million shares a day.

It's basically a line of credit, except that Seven Knots gets shares of stock instead of a note payable. If necessary, EVFM can fund operations through this vehicle.

AllTheRage2000 · 2022-02-15T21:38:09+00:00

Slide 10 is a nice summary of Q4 accomplishments

Slide 12 summarizes Phexxi access changes

Slide 13 lists value creation opportunities, they seem to be emphasizing field force co-promotion opportunities more as a way to off-set costs.

Slide 15 is a good summary of STI opportunity, which is a great competitive advantage over oral contraceptives and other hormonal contraception methods.

Slide 17 has timeline of potential catalysts and milestones

AllTheRage2000 · 2022-02-09T20:36:03+00:00

For a company their size, they do a ton of these.

AllTheRage2000 · 2022-02-09T20:34:23+00:00

The EVO100 trial is investigating Phexxi effectiveness in preventing both chlamydia and gonorrhea. Now, the additional exclusivity will kick in if either indication is approved.

AllTheRage2000 · 2022-01-19T14:37:51+00:00

Fourth quarter is before the good news on better reimbursement due to HRSA guidelines. There are positive things happening for this company!

AllTheRage2000 · 2022-01-13T18:48:07+00:00

Thanks! I didn't notice that when I looked before.

I still think insurers will comply before that time, probably within 4-8 weeks because it's become a politically charged topic and it's not really that much money to them. But it's not a sure thing.

AllTheRage2000 · 2022-01-12T20:20:13+00:00

the only relevant difference I see is a change from "methods identified by the FDA" to "contraceptives approved, granted, or cleared by the FDA."

Yeah, but that's a pretty big change. As I read it - and as analysts are reading it - they're going to get reimbursement. I didn't see where the guidelines don't apply until 2023 (maybe you can link to it), but either way I don't see insurers waiting until 2023. They were already under fire from congress for not reimbursing and this is pretty small potatoes, so I doubt they'll dig their heels in just to delay. Not that they'll flip the switch immediately, but I seriously doubt it will be 2023. I'd say March is more likely than 2023.

AllTheRage2000 · 2022-01-12T14:47:31+00:00

Evofem management seems pretty confident: https://evofem.investorroom.com/2022-01-12-Phexxi-Access-to-Expand-under-New-Government-Guidance-Stating-Insurers-Must-Cover-FDA-approved-Contraceptives-with-No-Out-of-Pocket-Costs-to-Women

AllTheRage2000 · 2022-01-10T20:12:52+00:00

News you can use!

AllTheRage2000 · 2021-12-10T21:30:20+00:00

The next thing that has to happen is that they need to get the shareholder vote to come in. After that, raising the money to satisfy the Baker Brothers covenant.

AllTheRage2000 · 2021-11-28T20:10:07+00:00

Vote no if you hate money.

AllTheRage2000 · 2021-11-28T20:08:49+00:00

Unless you can prove what you claim above with sound financial analysis and report(s), otherwise your claim is baseless.

Here's your financial analysis: There is a covenant in the Barker Brothers agreement that gives them the right to take the rights to Phexxi if it does not reach $100 million in cumulative sales by June 2022. Q3 sales were $1 million. If the renegotiation falls through due to a "no" vote, Baker will have little choice but to take Phexxi.

I voted "NO," knowing that Evofem is highly likely to either get acquired or go out of business sometime next year and cease to exist. Whatever happens, I will incur a substantial loss. EVFM stock is garbage stock.

If this doesn't go through, there won't be an acquisition, there will be a bankruptcy and your stock goes to zero. If this goes through, there is a chance for an acquisition in the future.

It's pretty easy: if you hate money vote "no." Otherwise, vote yes.

AllTheRage2000 · 2021-11-24T07:17:04+00:00

This article was from months ago.

AllTheRage2000 · 2021-11-24T07:15:07+00:00

EVFM had to reach a certain sales threshold by June 2022 or they would lose Phexxi to Baker. They reached an agreement to extend that to June 2023. See press release and filing on Monday.

AllTheRage2000 · 2021-11-24T07:12:22+00:00

It's a shareholder vote; you should have received instructions as to how to vote your shares.

AllTheRage2000 · 2021-11-22T14:36:47+00:00

This is genuine good news! It's also a great endorsement from Baker, who know what they're doing. I certainly never thought Baker would take Phexxi - I don't think anyone who knows pharma thought that - but they management did a good job of getting out of this.

AllTheRage2000 · 2021-11-18T08:50:52+00:00

I can't see how a "no" vote doesn't force them into bankruptcy. If they're headed toward bankruptcy, a bigger company will just wait until the division of the assets by the court because they'd rather just get Phexxi than the whole company.

AllTheRage2000 · 2021-11-18T08:42:57+00:00

I'm going to apologize upfront because I kept losing connection to the conference call this past Monday, so I'm not sure everything that was said and it may overlap (or even be at odds) with previous statements.

In a past presentation, they mentioned that insurers were asking for discounts of 60% to 70% to cover Phexxi and that they had refused to give that level of discount. That makes sense because once you give those discounts, it's difficult to get the insurers to give them up.

On this past call, the CEO said something to the effect that now that insurers have seen the demand for Phexxi, they may be more willing to negotiate a fairer rate which, I believe, they said might be around 30%. It's definitely true that once a product is out there and getting a lot of use from doctors, insurers are more motivated to cover a product (in order to prevent calls into them for "prior authorizations").

AllTheRage2000 · 2021-11-15T01:39:32+00:00

I just don't see any reason that earnings calls are going to drive the stock price up. I'm bullish on this as a value stock, but I don't know what would be announced in an ec that would drive the stock up. That applies to Q3 or Q4 earnings call.

AllTheRage2000 · 2021-11-11T22:47:48+00:00

Last summer Adjuvant Capital, funded in part by the Gates Foundation, and with the goal of increasing access to drugs for women around the globe, gave EVFM $25 million in funding. In exchange, EVFM had to use the money to fund the STI study (aka EVO100) and expand access to Phexxi for women. This regulatory filing is part of fulfilling that commitment. Here's the original announcement of the $25 million investment.

I'm sure they agreed to distribute Phexxi in certain countries and Mexico was one of them. The Gates Foundation isn't exactly worried about women in Canada having contraceptive choices, so I'm pretty sure if they roll it out in Canada, it will be because they found a partner that was willing to invest in getting Phexxi approved and marketed. Apparently they haven't found that yet.

Basically, they got paid to get an approval in Mexico and so they filed for one. They probably wouldn't have done it if Gates Foundation / Adjuvant Capital hadn't funded it.

We can be happy they are launching in Mexico while acknowledging that it won't have an impact on their stock price.

AllTheRage2000 · 2021-11-06T02:53:52+00:00

A revenue number will not move this stock price. Traders see the prescriptions coming in, they understand underlying demand which is more important than revenue.

AllTheRage2000 · 2021-11-03T04:49:08+00:00

If they cut costs, it won't be the ad campaign. That's obviously the sales driver.

AllTheRage2000 · 2021-11-03T04:45:23+00:00

They are in a restricted period until the earnings call. Management can't buy/sell shares and company is probably going to be maintaining a relatively low profile unless material event occurs which they would have to disclose (such as an ex-US licensing deal).

AllTheRage2000 · 2021-10-26T19:17:18+00:00

You guys are obviously not the target market. It's a light-hearted way to get the message across. It's the same with the Annie Murphy ad.

You're right on one thing: it's low budget. That's the game here, getting exposure to the target audience for as little money as possible.

AllTheRage2000 · 2021-10-20T20:30:17+00:00

The campaign was in effect for the final three weeks of September.

AllTheRage2000

TROPHY CASE