The decision of the Supreme Court to revoke Roe vs. Wade has brought a series of reactions of different types in the United States, from discontent in the population, reaction from companies to support their staff on the issue of abortion expenses, to the rise in shares of Evofem Biosciences, manufacturer of Phexxi .
Business Insider reported that shares of Evofem Biosciences have skyrocketed in gain since Friday, when the Supreme Court announced its controversial decision.
The announcement has fueled company shares by 240% when they rose to $1.08 at 1: pm on Monday, from Friday’s opening price of $0.33.
And it is that Evofem is the manufacturer of Phexxi, a contraceptive gel that prevents pregnancy by altering the PH levels of users with a 33% effectiveness, according to FDA tests.
The medication comes in gel form and is marketed as one of the few birth control methods available for women who are hesitant or unable to use hormonal methods.
“I think it’s crazy that women haven’t had an option like this before ”, said in 2021 Saundra Pelletier, executive director of Evofem.
Investors are seeing the potential of Evofem Biosciences’ product, in the midst of the suspension of women’s reproductive rights, as they identify in Phexxi a response to the vacuum caused by the measure that makes abortion illegal.
A few days ago, Evofem Biosciences announced the results of a post hoc analysis of the AMPOWER phase 3 registration trial investigating the ability of Phexxi (lactic acid, citric acid and potassium bitartrate) to prevent pregnancy.
In the analysis, it was noted that Phexxi prevented 99% of pregnancies per sexual act. This was based on 101 pregnancies (n=1,182) out of 24,289 intercourse with typical use in 1,182 women. The risk of pregnancy per sexual act of 0.415% was not statistically proven in AMPOWER and therefore is not found in the US Prescribing Information. (USPI) FDA approved.
“Providing data showing how Phexxi works on demand to prevent pregnancy through sexual intercourse helps women and their doctors better understand Phexxi and the value its innovation adds to the arsenal of choice“, commented the executive director of Evofem.
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