Women’s Healthcare Company Agile Therapeutics Says It Believes It Has An Effective Business Plan In Place For Growth And Generating Positive Cash Flow – Agile
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Agile Therapeutics Inc. AGRX is on a journey to fulfill the unmet well being wants of ladies with merchandise built to present them with contraceptive possibilities.
The company’s product or service and product candidates are created to give girls with contraceptive options that offer independence from taking a day by day capsule without committing to a extended-acting system.
Twirla®
Agile’s original product Twirla® (levonorgestrel and ethinyl estradiol) transdermal technique, is a nondaily prescription contraceptive dependent on the company’s proprietary transdermal patch engineering identified as Skinfusion®, which is built to allow drug supply via the skin.
The Twirla transdermal technique is a after-weekly merged hormonal contraceptive (CHC) patch that incorporates the active ingredients levonorgestrel (LNG), a kind of progestin, and ethinyl estradiol (EE), a style of estrogen.
The patch is used as a contraceptive by women of all ages with a physique mass index (BMI) significantly less than 30 kilograms per meter (kg/m2) for whom a merged hormonal contraceptive is proper. It is much less efficient in girls with a BMI of 25 or much more.
Q3 Economical Final results And Corporate Update
On Nov. 7, Agile launched financial outcomes for the a few months that finished Sept. 30 and presented a company update.
Monetary Outcomes Highlights:
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- Net earnings: Twirla delivered $3. million in web profits for the third quarter of 2022. This was an maximize of 43% from the 2nd quarter of 2022 – the most significant quarter-about-quarter enhance the Business has reached.
- Price of products income: Cost of solution earnings totaled $1.4 million and consisted of direct and oblique charges connected to the manufacturing of Twirla® sold, as opposed to $2.7 million for the third quarter of 2021 – a lower of 47%. The reduce displays the elimination of an inventory obsolescence reserve, which the corporation proven in the 3rd quarter of 2021.
- Whole frequently approved accounting concepts (GAAP) operating charges: Total GAAP operating expenditures have been $20.3 million for the quarter that ended Sept. 30, when compared to $14.4 million for the similar interval in 2021 — an increase of 41%.



The GAAP working bills for the third quarter of 2022 symbolize an raise of 80% from the $11.3 million of GAAP working fees reported for the next quarter of 2022.
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- Full non-GAAP functioning fees: Total non-GAAP operational expenditures had been $9.2 million for the quarter that finished Sept. 30, as opposed to $14.4 million for the comparable period of time in 2021 — a minimize of 36%. The non-GAAP operating bills for the 3rd quarter decreased 19% from the $11.3 million non-GAAP running charges noted for the 2nd quarter of 2022. The organization had a a person-time, non-hard cash cost connected with the transfer of devices to Corium in the third quarter and believes the non-GAAP functioning price, which excludes this demand from GAAP functioning fees, presents a additional valuable comparison of the effects from its functions because prior periods did not include things like a very similar demand. The organization furnished a reconciliation of its GAAP operating expenses compared to non-GAAP running expenses in its push release.
- Hard cash: As of Sept. 30, the enterprise experienced $6.1 million of income, compared to $13 million of income and dollars equivalents as of the end of the 2nd quarter of 2022.
- Internet loss: Net loss was $19.7 million, or 53 cents for each share for the quarter that finished Sept. 30, in contrast to a net loss of $16.8 million, or $7.20 for every share, for the equivalent time period in 2021. The company incurred a a person-time, noncash operating price charge of $11.1 million in the 3rd quarter of 2022 connected to the transfer of devices possession to Corium Inc., which is mirrored in the web reduction for the 3rd quarter of 2022.
- Shares fantastic: As of Sept. 30, Agile experienced 39,026,823 shares issued and 36,997,836 weighted average shares of widespread stock exceptional.




Important Contributors To Long term Advancement
Whilst the corporation described a internet loss for the quarter due to factors that incorporated incredible types, it claims it has an effective business strategy in spot and is monitoring toward its intention of generating beneficial income movement.
An vital contributor to the company’s 3rd-quarter expansion was its partnership with Afaxys Inc., which drove volume in the nonretail channel. In the 2nd quarter of 2022, 1,404 nonretail cycles of Twirla®were acquired, and that variety surged 361% in the third quarter to 6,479 nonretail cycles.
“. This growth is the products of the initiatives getting produced by Afaxys to penetrate the Prepared Parenthood network. In the 3rd quarter, we commenced to see the conversion of Planned Parenthood accounts in California, which drove significant profits and expansion for the quarter. We believe that this signifies a sustainable consumer base for foreseeable future periods,” Agile Therapeutics Main Industrial Officer Amy Welsh reported.
She extra that by concentrating on 5 key states — California, Texas, Florida, Illinois, and New York — “It is approximated that we can achieve 45% of U.S. gals amongst the ages of 18 and 24. In the upcoming, we hope the retail channel to continue on to improve.”
On top of that, Agile strategies to launch its collaboration with female telehealth chief Nurx in the fourth quarter of 2022 and expects the collaboration to start off to add to retail channel progress in 2023. Nurx is a leader in feminine-focused electronic healthcare among the Twirla goal viewers and presents sufferers obtain to its telehealth system and pro medical vendors that have prescribed contraception to more than 1 million patients
Creating Optimistic Income Stream
In an market with players like Dare Bioscience Inc. DARE and Hologic Inc. HOLX, Agile is checking out business improvement opportunities that could most likely accelerate the timeline for creating favourable dollars move.
“Our mentioned system has been to correctly take care of expenses while continuing to mature Twirla® sales and demand. This is the 3rd consecutive quarter we have elevated Twirla® profits and desire though concurrently reducing organization functioning expenses, excluding the noncash, a person-time cost incurred this quarter,” Chairman and CEO and Director of Agile Therapeutics Chairman and CEO Alfred Altomari said.
“We are working — and have been performing — to recognize and implement techniques and exploit alternatives that will add to further more growth,” he included.
If Agile maintains its quarterly revenue expansion price and running charges constant with the past two quarters, the business could probably commence to make beneficial money flow at the close of 2023. The addition of a small business progress option or partnership could potentially speed up that timeline.
Showcased photo by Andrey_Popov on Shutterstock
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