Shares of Agile Therapeutics, Inc. (NASDAQ: AGRX) closed the trading at a price of $0.78 with the positive/negative change of +1.96%. In the past session approximately 80,719 shares were exchanged against the average daily trading volume of 1,118,940 shares. The stock market capitalization has now valued at $26.814M. The one year high of the company is $3.9200 and the one year low is $0.2310.
Agile Therapeutics, Inc. (AGRX) recently stated financial results for the three and nine months ended September 30, 2018 and provided a corporate update.
“We are happy that the FDA has provided us with a potential path forward for resubmitting our NDA for Twirla and are moving forward with our plans to meet with the Agency to discuss the specifics of the proposed comparative wear study,” stated Al Altomari, Chairman and Chief Executive Officer of Agile. “Our immediate goal is to complete the comparative wear study as soon as possible, and, upon successful completion of that study, to focus on the re-submission of our NDA. We continue to believe that Twirla, if approved, will provide women with an important contraception option they do not presently have – a once-weekly contraceptive patch designed to deliver a low dose of estrogen.”
Third Quarter Financial Results
- Cash and cash equivalents: As of September 30, 2018, Agile had $16.9M of cash and cash equivalents contrast to $35.9M of cash and cash equivalents as of December 31, 2017. The Company believes its cash and cash equivalents as of September 30, 2018, will be sufficient to meet its projected operating requirements into the second quarter of 2019, which include an estimate of the costs to complete a comparative wear study. The Company anticipates providing a further business update after it agrees with the FDA on the parameters of the wear study for Twirla. The Company will require additional capital to fund operating needs for the remainder of the second quarter of 2019 and beyond, including among other items, preparation for an anticipated Advisory Committee meeting, 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 $1.6M for the quarter ended September 30, 2018, contrast to $3.2M for the comparable period in 2017. The decrease in R&D expenses was primarily Because of a decrease in manufacturing and commercialization expenses reflecting reduced activity associated with the scale-up process and the on-going qualification process of the commercial manufacturing equipment primarily as a result of the receipt of the 2017 CRL.
- General and administrative (G&A) expenses: G&A expenses were $1.8M for the quarter ended September 30, 2018, contrast to $3.5M for the comparable period in 2017. The decrease in G&A expenses was primarily Because of the suspension of per-commercialization activities as a result of the receipt of the CRL in December 2017.
- Net loss: Net loss was $3.8M, or $0.11 per share, for the quarter ended September 30, 2018, contrast to a net loss of $7.1M, or $0.22 per share, for the quarter ended September 30, 2017.
- Shares Outstanding: At September 30, 2018, Agile had 34,377,329 shares of ordinary stock outstanding.
Analyst recommendation for this stock stands at 2.30. A look on the firm performance, its monthly performance is 5.41% and a quarterly performance of -17.71%. The stock price is trading downbeat from its 200 days moving average with -18.45% and down from 50 days moving average with -2.15%.