Agile Therapeutics Inc. (AGRX) stock prices were up by 0.032% as of the market closing on October 7th 2021. This brought the price per share up to USD$0.94 at the end of the trading day. Subsequent premarket fluctuations have seen the stock plummet by 19.88%, bringing it down to USD$0.76.
AGRX Stock’s Public Offering
October 7th 2021 saw AGRX stock announce its intention to offer and sell shares of its common stock in an underwritten public offering. The public offering will also see the sale of warrants to purchase shares of the company’s common stock. The entirety of the offering is to be sold by the company itself and will be subject to market and other customary conditions. Currently, there is no assurance as to whether the offering will proceed or when that might be. The exact size and terms of the offering are also yet to be determined.
Medi-Cal Approves Twirla
AGRX stock announced on October 4th 2021 that Twirla had been placed on the preferred drug formulary list. This development was effective from October 1st 2021 onwards and was executed by the California Medicaid Program, Medi-Cal. It secures a promising position for Twirla on the formulary for Medi-Cal and related programs, all of which provide health care to roughly 15 million beneficiaries. As of October 1st 2021, the preferred drug list placement for Medi-Cal will apply to the beneficiaries who receive their pharmacy benefit through fee-for-service (FFS) plans. Beneficiaries who receive benefits through related programs such as Family Planning, Access, Care and Treatment (Family PACT) Program will also be able to benefit. Remaining beneficiaries will gain access as of January 1st 2022.
Proliferation of Twirla
AGRX stock is continuing to pursue the expansion of access to Twirla to as many women as possible. Twirla offers a contraceptive patch option that delivers the lowest dose of estrogen on the market. The inclusion on the formulary list is a big step in the company’s aim to facilitate the provision of contraceptive choices for women in California. Inclusion in the formulary for Medi-Cal has seen Twirla gain access to the largest Medicaid program in the United States.
Future Outlook for AGRX Stock
The company is keen to capitalize on the expanded scope of opportunities afforded to it as a result of Twirla’s inclusion in the formulary for Medi-Cal. AGRX stock is planning on maintaining the momentum it has generated over the past few quarters into the new year. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.