Evofem Biosciences Announces Closing of Public Offering of Common Stock and Warrants
Summary
Evofem intends to use the net proceeds from this offering to fund its ongoing Phase 3 clinical trial of Amphora® (L-lactic acid, citric acid, and potassium bitartrate) vaginal gel for the prevention of pregnancy, which is fully enrolled and from which it expects to report top line results in the first quarter of 2019 and the ongoing Phase 2b clinical trial of Amphora for the prevention of urogenital transmission of chlamydia and gonorrhea in women, as well as for general corporate purposes, funding working capital needs and any necessary capital expenditures. RBC Capital Markets LLC and Cantor Fitzgerald & Co. acted as joint book-running managers for the offering. A registration statement on Form S-1 relating to the offering was filed with the Securities and Exchange Commission (the "SEC") on May 16, 2018 and was declared effective on May 21, 2018. Evofem is leveraging its proprietary Multi-purpose Prevention Technology vaginal gel to develop product candidates for multiple indications, including contraception, the prevention of urogenital transmission of chlamydia and gonorrhea in women, and recurrent bacterial vaginosis. These statements are often characterized by terminology such as "believes," "hopes," "may," "anticipates," "should," "intends," "plans," "will," "expects," "estimates," "projects," "positioned," "strategy" and similar expressions and are based on assumptions and assessments made in light of managements experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate.