Evofem Biosciences, Inc. (NASDAQ: EVFM) (Evofem), a clinical-stage biopharmaceutical company was added to the broad-market Russell 3000 Index and the small-cap Russell 2000 Index at the conclusion of the 2019 Russell indexes annual reconstitution, effective at the U.S. market open on July 1, 2019, according to a final list of additions posted June 28.
"The inclusion of Evofem Biosciences in the Russell 3000 Index is indicative of the company's significant progress and growth. This momentum will escalate through 2019 as we advance our lead investigational asset, Amphora®, a hormone-free, on demand, first-in-class Multipurpose Vaginal pH Regulator (MVP-R™) for birth control, toward NDA re-submission later this year and potential approval in the second quarter of 2020," said Saundra Pelletier, CEO of Evofem Biosciences.
"In the United States, almost half of women are not satisfied with their current birth control method, reporting problems with side effects and reduced sexual pleasure as main reasons for concern1, which has resulted in unintended pregnancies costing the US government $21 billion annually2. With our investigational product Amphora, Evofem is seeking to put power back in women's hands with protection on their terms. If approved for marketing in the U.S., it will provide hormone-free birth control, used only when she wants it."
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 10, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000®Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
About Evofem Biosciences
Evofem Biosciences, Inc., is a clinical-stage biopharmaceutical company committed to developing and commercializing innovative products to address unmet needs in women's sexual and reproductive health. The Company is leveraging its proprietary investigational Multipurpose Vaginal pH Regulator (MVP-R™) platform to develop Amphora® (L-lactic acid, citric acid and potassium bitartrate). Amphora is designed to regulate vaginal pH within the normal range of 3.5 to 4.5. This maintains an acidic environment which is inhospitable to sperm as well as certain viral and bacterial pathogens associated with STIs but is integral to the survival of healthy bacteria in the vagina. Evofem plans to resubmit the Amphora New Drug Application (NDA) for hormone-free, woman-controlled birth control in the fourth quarter of 2019. The investigational, first-in-class MVP-R is also in development to prevent urogenital acquisition of certain sexually transmitted infections.
For more information, please visit www.evofem.com.
