Evofem Biosciences Inc (NASDAQ:EVFM) shares are trading lower by 59.76% at $0.44 after the company announced the pricing of a roughly $26.6 million public offering.
Evofem says the company intends to use the net proceeds from the offering for the continuation of commercialization activities related to its commercial product, Phexxi®. The offering is expected to close on or about May 24, 2022, subject to satisfaction of customary closing conditions.
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Evofem Biosciences Inc is a commercial-stage biopharmaceutical company.
According to data from Benzinga Pro, Evofem Biosciences has a 52-week high of $21.30 and a 52-week low of $0.43.
