Evofem shareholders reject merger with Aditxt

Evofem Biosciences Inc. (OTC: EVFM) announced that shareholders voted against the proposed merger with Aditxt Inc. (NASDAQ: ADTX) at a special meeting held Monday morning. The company has terminated the merger agreement dated July 12, 2024.

Following the failed merger vote, Evofem stated it will focus on regaining a national stock listing and securing growth capital. The San Diego-based company targets achieving sustainable positive EBITDA by 2027.

"With the outcome of this meeting, we are pivoting to focus our efforts on regaining a national listing for Evofem's stock and securing capital to catalyze our growth trajectory," said CEO Saundra Pelletier.

Evofem will continue its collaboration with Aditxt to commercialize Mitomic diagnostic tests for women's health conditions, including endometriosis and ovarian cancer, under a September 2024 agreement.

The company commercializes two FDA-approved products: PHEXXI vaginal gel for hormone-free contraception and SOLOSEC oral granules for treating bacterial vaginosis and trichomoniasis. Evofem reported its fourth consecutive year of net sales growth in 2024.

The information is based on a company press release statement.

You May Also Be Interested In

• FG Merger II sets stockholder vote on BOXABL merger for June 9
• Aeva Technologies files mixed shelf offering registration
• QXO prices $3 billion in senior notes to fund TopBuild acquisition