Maxim downgrades Agile Therapeutics over capital concerns

Agile Therapeutics

08/04/2022 12:49

** Maxim Group says though demand for medical co's  AGRX.O 
contraceptive patch is increasing, financial overhangs remain
    ** Brokerage downgrades to 'hold' from 'buy' and removes PT
as it awaits details on financing situation
    ** Twirla, non-daily, non-invasive contraceptive patch, was
approved by FDA in Feb 2020 and was launched in U.S. in Dec 2020
    ** Brokerage says underlying demand for product is
accelerating, but AGRX is still battling various reimbursement
challenges and total prescription vols is still not near level
to generate significant cash flow or allow co to operate
profitably
    ** Limited cash runway, lack of clarity on expected
dilution, reimbursement challenges, and ability to operate as a
going concern moves us to sidelines - Maxim
    ** Stock has lost ~67% YTD



 (Reporting by Mrinalika Roy in Bengaluru)
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