Evofem Biosciences (NASDAQ:EVFM) shocked investors yesterday after the overturning of Roe vs. Wade thrust contraceptives into the national spotlight. This new focus on its contraceptive products has sent the little known biotech company’s stock skyrocketing more than 160% in only one day. EVFM stock has been incredibly turbulent, rising 10% this morning before dipping again. As of this writing, it is down around 5% for the day.
Less than two days into the week, Evofem already has an exciting catalyst to report. The company has reached a deal with one of the country’s most prominent pharmacy benefits managers (PBM) to expand access to Phexxi. This means that even more women will have access to the company’s hormone free contraceptive.
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