SAN DIEGO, July 1, 2019 /PRNewswire/ -- 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.
NOTE: Amphora® is a registered trademark and MVP-R™ is a trademark of Evofem Biosciences, Inc.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to the timing of the planned Amphora NDA re-submission for prevention of pregnancy, potential FDA approval of Amphora, and the potential commercial launch of Amphora. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Important factors that could impair the value of Evofem Biosciences' assets and business are disclosed in the risk factors contained in its Annual Report on Form 10-K filed with the Securities and Exchange Commission and subsequent filings. All forward-looking statements are expressly qualified in their entirety by such factors. Evofem Biosciences does not undertake any duty to update any forward-looking statement except as required by law.
For Evofem Biosciences
Evofem Biosciences, Inc.
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SOURCE Evofem Biosciences, Inc.