AGRX - Agile Therapeutics to raise $13M in stock offering provides certain Q1 estimates and reverse stock split effective Apr.27

Agile Therapeutics (NASDAQ:AGRX) entered into a sales agreement to sell up to $12.84M of shares of stock, par value $0.0001/share, through a sales agent. The company cannot provide any assurance that it will issue any shares of its common stock post to the sales agreement. Concurrently, the company also estimated $3.7M of cash and equivalents on hand as of Mar. 31, 2022, and that it had received $4.7M in net proceeds from the sale of tax benefits pursuant to the company's participation in the New Jersey Economic Development Authority Net Operating Loss program. It expects Q1 net product sales revenue to be ~$1.7 to $1.9M and operating expenses to be ~$15.5 to $16.5M. The company also announced that it intends to effect a reverse stock split of its issued and outstanding shares of common stock at a ratio of 1 post-split share for every 40 pre-split shares. AGRX will commence trading

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Agile Therapeutics to raise $13M in stock offering, provides certain Q1 estimates and reverse stock split effective Apr.27