Agile Therapeutics Inc. (AGRX) stock prices were down 3.45% as of market closing on July 26th, 2021, bringing the price per share down to USD$1.12 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by 4.46%, bringing it up to USD$1.17.
AGRX Stock Prescriptions Improved
The second quarter of 2021 saw AGRX stock report total prescriptions coming in at 5,027, up a massive 171% from the numbers reported for the prior quarter. New prescriptions were up 103% over the quarter, reported at 2,857. These increases were driven by increases in the number of prescribers and growing refill rates. As of June 30th, 2021, the company reported more than 2,087 healthcare providers, while 2,033 prescriptions were dispensed as refills. Up 355% from the prior quarter. AGRX also reported an increase in the total number of prescriptions per prescriber.
AGRX Stock’s Market Reach
AGRX stock has continued expanding the market footprint of Twirla, with it being available to Medicaid patients across roughly 75%, either through traditional and/or managed Medicaid. This development sees Twirla cover roughly half of the total Medicaid transdermal TRx market with no restrictions. Based on claims, Twirla reports having access to roughly 55% of the commercial and government CHC market.
Cost of Product Revenue
Cost of product revenues for the quarter ended June 30th, 2021 was reported at USD$1.1 million and included direct and indirect expenses. These costs supported AGRX stock’s manufacturing and distribution efforts, including, but not limited to, personnel costs and roughly USD$500,000 of non-cash depreciation expense. These relatively fixed costs are expected to stay roughly the same as sales increase with expected volume increases.
Additional Financials
AGRX stock was selling units from validation batches until May 2021, with no associated product cost on account of the cost having been previously expensed already. Roughly 76% of the units sold over the second quarter of 2021 had an associated product cost, as will all future sales of the product. As of June 30th, 2021, the company reported USD$31.1 million in cash, cash equivalents, and marketable securities. This is compared to the USD$54.5 million reported as of December 31st, 2020.
Future Outlook for AGRX
With the company’s flagship Twirla gaining traction and snowballing in sales, AGRX stock is poised to capitalize on the increasing momentum. The company is keen to continue its trajectory of success as it effectively allocated its resources to stay lean. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.
