Evofem slumps on imminent Nasdaq delisting

Evofem Biosciences

10/08/2022 14:51

** Shares in Evofem Biosciences  EVFM.O  fall ~28% to $0.45
    ** Co receives notice of delisting from Nasdaq as it had
failed to regain compliance with Nasdaq's continued listing
standard (https://bit.ly/3P9r4t7)
    ** Nasdaq will suspend trading in EVFM's securities from
open of business on Aug 11
    ** Following Nasdaq delisting, co expects its shares will
commence trading on the OTC Markets Group platform under the
symbol "EVFM" from Aug 11
    ** Also plans to apply for trading of its shares on OTCQB
market
    ** Evofem markets a hormone-free contraceptive vaginal gel,
Phexxi, in the United States
    ** Four of 5 brokerages rate the stock "buy" or higher, 1
"sell"; their median PT is $3.50 - Refinitiv data
    ** Stock has lost ~92% YTD 

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com;))