Why Agile Therapeutics Stock Is Trading Higher Today
Agile Therapeutics Inc (NASDAQ: AGRX) announced an agreement with vitaCare Prescription Services, a wholly owned subsidiary of GoodRx Holdings Inc (NASDAQ: GDRX), to expand patient access and streamline fulfillment for Twirla (levonorgestrel ethinyl estradiol) transdermal system.
"The agreement with vitaCare aligns with our strategy to utilize partnerships to efficiently grow Twirla while continuing to responsibly manage our operating expenses," said Agile Therapeutics' Chief Commercial Officer Amy Welsh.
"The goal for the vitaCare partnership is to strengthen Twirla's already meaningful momentum in our most profitable channel – the retail channel. We believe the partnership with vitaCare will create more opportunities to reach new Twirla patients for whom access has been a barrier while helping existing Twirla patients stay on therapy," Welsh added.
The company says its ongoing plan is to expand commercial reach, which is expected to contribute to reaching key 2023 financial goals of generating positive cash flow and delivering net revenue in the range of $25-$30 million.
Agile continues growing Twirla's presence on telemedicine platforms, including Twentyeight Health and existing partners like Pandia Health and Nurx, as more women choose telemedicine for contraceptives.
Twirla is a contraceptive patch designed to be applied once weekly for three weeks, followed by a week without a patch.
Last month, the company raised $7.5 million via equity.
Twirla delivered $3.8 million in net revenue for Q1 FY23, up 117% Y/Y.
Price Action: AGRX shares are up 13.90% at $4.10 during the premarket session on the last check Wednesday.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article Why Agile Therapeutics Stock Is Trading Higher Today originally appeared on Benzinga.com
.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
