Agile Therapeutics Posts Growth In Third Quarter Results, Reiterates Confidence In Target of $25M Net Revenue, Positive Cash Flow In 2024
Agile Therapeutics Posts Growth In Third Quarter Results, Reiterates Confidence In Target of $25M Net Revenue, Positive Cash Flow In 2024
PRINCETON, NJ / ACCESSWIRE / November 22, 2023 / Agile Therapeutics, Inc. (NASDAQ:AGRX), the commercial-stage women's healthcare company, posted a 122% increase in third-quarter revenue year-over-year, driven by strong demand for TwirlaR (levonorgestrel and ethinyl estradiol) transdermal system, its birth control patch. The company also reiterated its target for full-year 2023 revenue of at least $25 million and to be cash flow positive from operations in the first quarter of 2024.
新泽西州普林斯顿/ACCESSWIRE/2023年11月22日/商业阶段的女性医疗保健公司Agile Therapeutics, Inc.(纳斯达克股票代码:AGRX)公布第三季度收入同比增长122%,这得益于对其节育贴剂Twirlar(左炔诺孕酮和乙炔雌二醇)透皮系统的强劲需求。该公司还重申了其2023年全年收入至少为2500万美元的目标,并在2024年第一季度实现运营现金流为正数。
"In the third quarter 2023, we once again achieved all-time highs across several leading indicators, including net revenue, Twirla demand, factory sales and gross margin," Agile Therapeutics' Chair and Chief Executive Officer Al Altomari said on a conference call to discuss third-quarter results. "In the past year, we've seen consistent quarter-over-quarter improvements across all of our key performance areas, and we believe there is room for additional growth both in the fourth quarter of 2023 as well as into the first quarter of 2024."
Agile Therapeutics董事长兼首席执行官阿尔·阿尔托马里在一份报告中表示:“在2023年第三季度,我们在包括净收入、Twirla需求、工厂销售和毛利率在内的多个主要指标上再次创下历史新高。” 电话会议讨论第三季度业绩。“在过去的一年中,我们在所有关键绩效领域都实现了持续的季度同比改善,我们相信,无论是在2023年第四季度还是在2024年第一季度,都有进一步增长的空间。”
The company expects additional growth and upside potentially coming from further penetration in the five key states by expanding its current customer bases and getting new ones, boosting its non-retail customer network and advancing Twirla through telemedicine platforms including Nurx, TwentyEight Health and Pandia. It is partnerships with the likes of Nurx and growth in Twirla sales that prompted Maxim Group to recently upgrade its investment rating to buy from hold on Agile and set a 12-month price target of $5.00. With the stock trading around $2.00 per share as of the release of their report, Maxim Group believes it represents the potential for a 150% upside.
该公司预计,通过扩大现有客户群和获得新客户群、扩大非零售客户网络以及通过包括Nurx、TwenteYeight Health和Pandia在内的远程医疗平台推动Twirla发展,进一步渗透到五个主要州,可能会带来额外的增长和上行空间。正是与Nurx等公司的合作以及Twirla销售额的增长促使Maxim集团最近将其投资评级从持有Agile上调至买入,并将12个月的目标股价设定为5.00美元。截至报告发布时,该股的交易价格约为每股2.00美元,Maxim Group认为这有可能上涨150%。
Twirla Demand And Sales Growing
Twirla 需求和销售额都在增长
Twirla is a weekly birth control patch that delivers a low dose of estrogen to women with a body mass index (BMI) less than 30 kg/m 2 who can become pregnant. Twirla uses the company's proprietary Skinfusion patch technology to provide consistent drug delivery and help maintain adhesion. It is made with soft, flexible fabric that is only one millimeter thick. Women wear three patches a month followed by one patch-free week, and the company reports the novel patch design keeps the active ingredients in place.
Twirla 是每周一次的节育贴剂,可向体重指数 (BMI) 小于 30 kg/m 2 且可能怀孕的女性提供低剂量的雌激素。Twirla 使用该公司的专有技术 Skinfusion 补丁技术 提供稳定的药物输送并帮助保持粘附力。它由只有一毫米厚的柔软弹性面料制成。女性每月佩戴三片贴片,然后每周佩戴一片补丁,该公司报告说,这种新颖的贴片设计可以保持活性成分不变。
For the three months ended September 30, Agile Therapeutics posted net revenue of $6.7 million, up 122% from the $3 million it reported in the year-ago third quarter and up 21% from $5.5 million reported in the second quarter of 2023. Results were driven by growing demand for Twirla, which ended the quarter with 74,325 total cycles, a 33% increase from the second quarter of 2023 and a 147% jump from last year's third quarter. Compared to the second quarter of 2023, sales from the retail channel increased 13% while non-retail sales were up 71%. Factory sales increased 20% compared to the second quarter of 2023.
对于 截至9月30日的三个月,Agile Therapeutics公布的净收入为670万美元,较去年同期第三季度公布的300万美元增长122%,较2023年第二季度公布的550万美元增长21%。业绩是由对Twirla的需求增长推动的,Twirla在本季度末总周期为74,325个,比2023年第二季度增长33%,比去年第三季度增长147%。与2023年第二季度相比,零售渠道的销售额增长了13%,而非零售销售增长了71%。与2023年第二季度相比,工厂销售额增长了20%。
The non-GAAP net loss narrowed during the quarter, coming in at $4.3 million or $1.47 per share. In the year-ago third quarter, the non-GAAP net loss was $19.7 million or $26.58. In the second quarter of 2023, the non-GAAP net loss was $5.5 million or $3.10 per share.
非公认会计准则净亏损在本季度有所收窄,为430万美元,合每股亏损1.47美元。去年同期的第三季度,非公认会计准则净亏损为1,970万美元,合26.58美元。2023年第二季度,非公认会计准则净亏损为550万美元,合每股亏损3.10美元。
Recalibration Paying Off
重新校准带来回报
For about a year now, Agile Therapeutics has been recalibrating the business, focusing on building a scalable commercial platform without adding more fixed costs. To do that the company is focused on selling Twirla in the five states that are estimated to reach 45% of women between the ages of 18 and 24 and also have strong reimbursement profiles. The firm is also collaborating with partners which it thinks can drive additional Twirla growth. For the first nine months of 2023 compared to the first nine months of 2022, Agile has been able to increase net revenue by 132%, grow demand for Twirla by 156% and reduce operating expenses by 31%.
大约一年来,Agile Therapeutics一直在重新调整业务,专注于在不增加固定成本的情况下构建可扩展的商业平台。为此,该公司的重点是 在五个州出售 Twirla 据估计,在18至24岁的女性中,这一比例达到45%,而且报销状况也很强。该公司还与其认为可以推动Twirla进一步增长的合作伙伴合作。与2022年的前九个月相比,在2023年的前九个月中,敏捷的净收入增长了132%,对Twirla的需求增长了156%,运营支出减少了31%。
"The growth that our plan has delivered to date affirms our belief that our model is sustainable and we expect to see continued Twirla growth in both the fourth quarter and into 2024," said Altomari.
阿尔托马里说:“我们的计划迄今为止实现的增长证实了我们的信念,即我们的模式是可持续的,我们预计Twirla将在第四季度和2024年持续增长。”
Not to mention, the growth of the industry as a whole does not seem to be slowing down.
更不用说,整个行业的增长似乎并没有放缓。
"Twirla has been experiencing accelerating total prescriptions (TRx) and demand growth, putting the company at an inflection point, in our view," the Wall Street firm wrote when upgrading Agile. "We believe the narrative surrounding the stock will change as confidence increases that profitability is approaching."
这家华尔街公司说:“在我们看来,Twirla的处方总量(tRx)和需求增长一直在加速,这使公司处于转折点。” 在升级敏捷时写的。“我们相信,随着人们对盈利能力接近的信心增强,围绕该股的说法将发生变化。”
Featured photo by RephiLe water on Unsplash.
精选照片来自 RepHile Water 上 Unsplas。
Contact:
联系人:
Matt Riley - Head of Investor Relations & Corporate Communications
mriley@agiletherapeutics.com
Matt Riley-投资者关系和企业传播主管
mriley@agiletherapeutics.com
SOURCE: Agile Therapeutics, Inc.
来源:Agile Therapeutics, Inc.