08/18/2025 | Press release | Distributed by Public on 08/18/2025 04:53
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended June 30, 2025
or
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission File Number: 001-36754
EVOFEM BIOSCIENCES, INC.
(Exact name of registrant as specified in its charter)
Delaware | 20-8527075 | |
(State or other jurisdiction of incorporation) |
(IRS Employer Identification No.) |
7770 Regents Road, Suite 113-618 San Diego, CA 92122 |
92122 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant's telephone number, including area code: (858) 550-1900
N/A
(Former name or former address, if changed since last report.)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
None |
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐ | Accelerated filer ☐ |
Non-accelerated filer ☒ | Smaller reporting company ☒ |
Emerging growth company ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The number of shares of the registrant's common stock, $0.0001 par value per share, outstanding as of August 9, 2025 was 118,656,354.
Table of Contents
Page | ||
FORWARD-LOOKING STATEMENTS | 1 | |
PART I. | FINANCIAL INFORMATION | |
Financial Statements (Unaudited) | 3 | |
Condensed Consolidated Balance Sheets | 3 | |
Condensed Consolidated Statements of Operations | 4 | |
Condensed Consolidated Statements of Comprehensive Operations | 5 | |
Condensed Consolidated Statements of Convertible and Redeemable Preferred Stock and Stockholders' Deficit | 6 | |
Condensed Consolidated Statements of Cash Flows | 8 | |
Notes to Unaudited Condensed Consolidated Financial Statements | 9 | |
Management's Discussion and Analysis of Financial Condition and Results of Operations | 35 | |
Quantitative and Qualitative Disclosures About Market Risk | 45 | |
Controls and Procedures | 45 | |
PART II. | OTHER INFORMATION | |
Legal Proceedings | 47 | |
A. | Risk Factors | 47 |
Unregistered Sales of Equity Securities and Use of Proceeds | 47 | |
Defaults Upon Senior Securities | 47 | |
Mine Safety Disclosures | 47 | |
Other Information | 47 | |
Exhibits | 48 | |
Signatures | 49 |
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