As a biotech company, EVFM makes products for women of all ages that help with birth control and reproduction.
The company makes a contraceptive gel that can be put on the skin from 0 to 60 minutes before sexual activity. The gel is the only prescription contraceptive gel on the market that doesn’t have any hormones.
The gel is an easy way for women to control their fertility without having to change their hormones After the product was approved for use in 2020, the company began selling and making it.
Between the first and second quarters of 2022, sales of the gel went up by 42%. Even though the fourth-quarter earnings aren’t in yet, the outlook could be good for EVFM. The company also did well in the third quarter, with sales up by close to 300% from the same time last year.
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During the same quarter, net profit margins went up by 132%. The net income was also up, coming in at close to 220% more than the year before.