AGRX - Agile Therapeutics stock slumps 10% following Q4 results
Shares of women's healthcare company Agile Therapeutics (AGRX -11.0%) fell 10% March 31, a day after the company reported its Q4 results. Q4 net revenue more than doubled to $1.51M. However, cost of product revenues in Q4 was $5.7M, which included a $4.5M inventory obsolescence charge for product not expected to be sold prior to its shelf-life date, which is 12 months prior to expiry. Agile (NASDAQ:AGRX) said demand for its hormonal contraceptive patch Twirla grew Q4 vs Q3. Total cycles dispensed grew 32%, while total prescriptions (TRx) grew 33% Q/Q. The company posted Q4 GAAP EPS of -$0.20, unchanged from a year ago. Agile's (AGRX) Q4 total operating expenses were $18.2M vs $17.2M a year ago, while FY expenses rose 30% Y/Y to $64.4M. The company said the overall increase was mainly due to consumer-based marketing efforts and sales force which was in place for the full year. Cash and cash equivalents as of Q4 2021
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Agile Therapeutics stock slumps 10% following Q4 results