Evofem Reports $18.2 million of Phexxi Net Product Sales in 2023 [Yahoo! Finance]
Aditxt, Inc. (ADTX)
Company Research
Source: Yahoo! Finance
-- Sales and marketing expense as a percentage of net sales was 54% for the fourth quarter of 2023, the most favorable ratio since the Phexxi launch -- SAN DIEGO March 27, 2024 /PRNewswire/ -- The company behind Phexxi® (lactic acid, citric acid, and potassium bitartrate) vaginal gel, women's health innovator Evofem Biosciences, Inc. (OTCQB: EVFM), today announced financial results for the fourth quarter and year ended December 31, 2023 . Highlights include: Delivered $18.2 million of Phexxi net product sales in 2023, an impressive increase compared to 2022 given the 73% reduction in field force and absence of growth capital in 2023. Sales and marketing expense was 64% of net sales for 2023, a key milestone for the Company and a significant improvement from prior years. 73% reduction in selling and marketing expenses in 2023 versus the prior year. Improved loss from operations by 79% versus 2022 levels. Entered into a definitive agreement to be acquired by Aditxt, Inc. Na
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