SAN DIEGO – Evofem Biosciences (OTC:EVFM), Inc., a biopharmaceutical company with annual revenues of $19.36 million, has amended its agreement with Windtree Therapeutics, Inc. for the manufacturing and supply of PHEXXI®, a non-hormonal contraceptive. The amendment, dated March 28, 2025, refines the terms of the original License and Supply Agreement, which was established on March 20, 2025. According to InvestingPro data, the company maintains an impressive 80.2% gross profit margin despite operating challenges.
The amendment, referred to as Amendment 1, introduces clarifications to several definitions and terms of the initial agreement. Key adjustments include specifying the Effective Date as March 20, 2025, revising the Binding Forecast Period, addressing potential supply chain disruptions and delivery dates, and clarifying the Purchase Price term along with conditions for price reductions. These developments come as analysts project revenue growth of nearly 9% for fiscal year 2025.
PHEXXI® (lactic acid, citric acid, and potassium bitartrate) is a product of Evofem Biosciences, designed as a hormone-free vaginal gel used for the prevention of pregnancy. With this amendment, Windtree Therapeutics, a biotechnology and medical device company, confirms its role as a manufacturer and supplier for the product.
The details of the amendment were disclosed in a Form 8-K filed with the Securities and Exchange Commission (SEC) on April 3, 2025. Evofem Biosciences, headquartered in San Diego, California, is incorporated in Delaware and is listed on the OTCQB with the trading symbol EVFM. InvestingPro analysis reveals multiple growth indicators and challenges ahead - subscribers can access 12 additional ProTips and comprehensive financial metrics to make informed investment decisions.
The full text of Amendment 1 has been included as an exhibit in the Form 8-K filing, offering a comprehensive view of the adjustments made to the agreement. This filing provides investors and stakeholders with the latest contractual developments between Evofem Biosciences and Windtree Therapeutics regarding the supply of PHEXXI®.
This news article is based on a press release statement.
In other recent news, a prominent technology company has announced a major leadership change as part of a strategic restructuring initiative. The current CEO, who has led the company for over ten years, will step down immediately, with the current Chief Operating Officer stepping in as interim CEO. This transition is part of efforts to streamline operations and strengthen the company’s competitive edge in the tech sector. The company is also considering the sale of several underperforming divisions to focus on growth areas, although financial details were not disclosed.
Meanwhile, Windtree Therapeutics has entered into a License and Supply Agreement with Evofem Biosciences to supply the contraceptive gel PHEXXI. This agreement is expected to leverage Windtree’s manufacturing capabilities to reduce production costs, potentially increasing profitability for Evofem, which retains commercialization rights. Windtree’s CEO, Jed Latkin, emphasized that this aligns with their strategy to generate revenue and enhance shareholder value. Evofem’s CEO, Saundra Pelletier, noted the partnership could expand PHEXXI’s reach in global markets that demand non-hormonal contraceptive options. These developments are part of Windtree’s broader strategy to transition into a revenue-generating biotech company.
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