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Thursday, May 19, 2022

Gearing for Earnings Release: Agile Therapeutics, Inc. (AGRX) Stock Rocketing Higher in Premarket.

Agile Therapeutics, Inc. (AGRX) is focused on fulfilling women’s unmet health needs. It offers various contraceptive options to women. The company’s product line includes Twirla transdermal system.


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AGRX stock price during the regular trading of March 29, 2022, was $0.25 with a slight decline of 0.08%. Its price rocketed higher as of the writing in the premarket trading on March 30, 2022, by 28.18%.

AGRX: Events and Happenings

On March 14, 2022, AGRX updated on the closure of already announced registered direct offering to sell 2,425 shares of convertible preferred stock and warrants for the acquisition of approximately 24,250,000 common stock shares and warrants for the acquisition of approximately 24,250,000 common stock shares with an institutional investor. The per-share price of the preferred stock is $1,000 and a per-share conversion price of $0.20. The warrants have a per-share exercise price of $0.26. The net proceeds resulting from the direct offering are worth $4.85 million.

On March 11, 2022, AGRX reported its Executive management to present at the following investor conferences.

  • Oppenheimer’s Virtual 32ndAnnual Healthcare Conference held on March 17, and
  • Maxim Group and M-Vest Virtual 2022 Growth Conference held March 28, 2022.

On March 07, 2022, AGRX informed the press regarding the issuance of its Q4 2021 and full fiscal year financial statement on March 30, 2022, along with hosting a conference call. The company will also provide commercial updates on Twirla.

AGRX: Key Financials

AGRX issued its unaudited Q3 2021 financials on November 2, 2021, for the three months ended September 30, 2021. Some notable highlights are discussed here.

Revenue

The company posted net revenues of $1.3 million during the third quarter of 2021 in comparison to nil revenue during the corresponding quarter in 2020. The company’s net revenues surged by 100% YoY and it missed the revenue estimations by $175.2 thousand.

EPS

Per-share basic and diluted net loss during the third quarter of 2021 was $16.8 million or $0.18 corresponding to $15.5 million or $0.18 during the comparable period of 2020. The company’s net loss increased over the year and it surpassed the EPS expectations by $0.01.

Conclusion

AGRX stock was downplayed by 86% in the last year. Its stock price is leaping forward in Wednesday’s premarket trading as the company is gearing for the Financial statement release for the fourth quarter of 2021. The financial outlook for Q4 2021 is $1.51 million in revenue and -$0.15 EPS with improvements from the past year.

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