Agile Therapeutics, Inc. (NASDAQ:AGRX) negotiated 306,594 shares against it an average volume of 604,089 shares. The stock concluded the recent trade at $0.53 with upbeat trend move of +10.26%. The company has total market value of 18.152M billion. The company has got a 52-week exceptional price of $5.60 and reached a 52-week lowest of the share price at $0.44. The daily trading range was observed between a day’s low price of $0.49 to a day’s high price of $0.56.
Agile Therapeutics, Inc. (AGRX) stated financial results for the three months ended March 31, 2018 and provided a corporate update
First Quarter Financial Results
Cash and cash equivalents: As of March 31, 2018, Agile had $28.3M of cash and cash equivalents contrast to $35.9M of cash and cash equivalents as of December 31, 2017. In January 2018, in response to the 2017 CRL, the Company importantly scaled back equipment qualification and validation of its commercial manufacturing process and its other commercial pre-launch activities. Based on these actions and the Company’s current business plan, the Company believes its cash and cash equivalents as of March 31, 2018, will be sufficient to meet its operating requirements through the end of 2018. The Company’s current business plan assumes the resubmission of the Company’s NDA for Twirla in the second quarter of 2018, a six-month FDA review of the NDA resubmission and resumption of both pre-launch commercial activities and pre-validation and validation of the commercial manufacturing process after Twirla authorization , if the FDA approves Twirla. The Company will be better able to determine when it will submit its Twirla NDA once it receives the official minutes from the FDA from its Type A meeting. The Company will require additional capital to fund operating needs beyond 2018, including among other items, the completion of its commercial plan for Twirla, which primarily includes validation of the commercial manufacturing process and the commercial launch of Twirla, if approved, and advancing the development of its other potential product candidates.
Research and development (R&D) expenses: R&D expenses were $4.0M for the quarter ended March 31, 2018, contrast to $4.7M for the comparable period in 2017. The decrease in R&D expense was primarily Because of reduced clinical development expenses as the Company’s Phase 3 SECURE clinical trial for Twirla completed the close-out phase during 2017. The decrease in clinical development expenses was offset, in part, by increased expenses associated with commercial manufacturing scale-up activities.
General and administrative (G&A) expenses: G&A expenses were $3.1M for the quarter ended March 31, 2018, contrast to $2.4M for the comparable period in 2017. The increase in G&A expenses was primarily Because of increased pre-commercialization activities, including personnel additions during the second half of 2017 to help prepare for launch of Twirla, if approved.
Net loss: Net loss was $6.8M, or $0.20 per share for the quarter ended March 31, 2018, contrast to a net loss of $7.5M, or $0.26 per share for the quarter ended March 31, 2017. Net loss for the quarter ended March 31, 2018 includes a benefit from income taxes of about $0.5M, or $0.01 per basic share related to the sale of the Company’s New Jersey net operation losses through the State of New Jersey’s Technology Business Tax Certificate Transfer Program (the “Program”). The Company has now reached the maximum lifetime benefit under the Program and will no longer be eligible to take part in the Program.
Agile Therapeutics, Inc.’s (AGRX) stock price showed weak performance of -5.41% in last seven days, switched down -5.69% in last thirty days and it fell -86.16% in last one year.
It has 38.06 million of outstanding shares and its shares float measured at 33.85.
Shares Outstanding: At March 31, 2018, Agile had 34,248,268 shares of ordinary stock outstanding.