Agile Therapeutics, Inc. (AGRX) stock plummeted 19.88% in the after-hours trading session at the price of $0.76 after it announced the proposed underwritten public offering of its common stock and warrants. Agile Therapeutics is a leading healthcare company that provides basic health services to women. The company’s product candidates provide women with preventive options that offer them freedom from taking a daily tablet.
AGRX Announced Public Offering of Common Stock
On 7th October 2021, AGRX published an underwritten public offering of its common stock and warrants to purchase its common stock shares. On 2nd October 2020, the company has offered its shares of common stock and warrants under the shelf registration statement on Form S-3 filed. All offered shares and warrants are to be sold by AGRX. There is no information about the actual size or duration of the underwritten public offering. The proposed offering will become effective from 14th October 2020 by the Securities and Exchange Commission and is subject to market and other conditions.
Twirla Added to a Preferred Drug Position on Medi-Cal Formulary
On 4th October 2021, AGRX published that the California Medicaid Program had listed Twirla on the preferred drug formulary program on 1st October 2021. This development ensured the top position for Twirla on the Medi-Cal formulary and associated programs. California Medicaid Program offers health care services to around 15 million beneficiaries. This preferred drug list placement will apply to all those beneficiaries who get pharmacy benefits from fee-for-service (FFS) plans and related programs.
CEO of AGRX, Al Altomari, remarked that they continue increasing access of Twirla to more women as possible. Broad access to Twirla enables women to select the contraceptive product of their choice. With the addition of Twirla to a preferred position on the formulary for Medi-Cal, they have taken additional steps for women’s healthcare in California, he added.
AGRX Partnered with Carli Lloyd
Previously, on 28th September 2021, AGRX announced that it partnered with Carli Lloyd, a U.S. Women’s Soccer legend. This strategic cooperation will focus on raising awareness about women’s healthcare and wellbeing. AGRX has developed its brand that aims to address women’s basic health needs. Its first product candidate Twirla granted approval from the U.S. Food and Drug Administration in February 2020. The company now has four new contraceptive products in its product pipeline. This partnership is an opportunity for the company to further advance its mission and brand by partnering with other leaders.
