Evofem Biosciences, Inc. · OTC:EVFM
Evofem Biosciences — Investor Presentation (October 2022)
24 slides from Evofem Biosciences's investor presentation, Oct 5, 2022
Slide 1: The Home of Phexxi
T H E H O M E O F P H E X X I – T H E F I R S T A N D O N L Y F D A - A P P R O V E D O N - D E M A N D , N O N - H O R M O N A L C O N T R A C E P T I V E G E L . S C I E N C E W I T H A S O U L S A U N D R A P E L L E T I E R C H I E F E X E C U T I V E O F F I C E R O C T O B E R 2 0 2 2 O T C Q
Slide 2: Forward-looking statements
O T C Q B : E V F M T h i s p r e s e n t a t i o n c o n t a i n s f o r w a r d l o o k i n g s t a t e m e n t s w i t h i n t h e m e a n i n g o f T h e P r i v a t e S e c u r i t i e s L i t i g a t i o n R e f o r m A c t o f 1 9 9 5 a n d o t h e r f e d e r a l s e c u r i t i e s l a w s
Slide 3: Evofem is leading the revolution
O T C Q B : E V F M EVOFEM IS LEADING THE REVOLUTION With innovative women’s reproductive and sexual health solutions 3 THE FIRST AND ONLY ON-DEMAND, NON-HORMONAL PRESCRIPTION CONTRACEPTIVE VAGINAL GEL • Vaginal pH Modulator • Hormone-free • FDA-approved for prevention of pregnancy • Woman-controlle
Slide 4: Women's contraceptive use in the U.S.
O T C Q B : E V F M 10.3 M WOMEN USE NON-PRESCRIPTION CONTRACEPTIVES N o n - R x m e t h o d s : b a r r i e r m e t h o d s ; w i t h d r a w a l ; p e r i o d i c a b s t i n e n c e ; t r a c k i n g ; o t h e r Other Non-Targets 12.2 Surgical Sterilization 17.2 Prescription Contraceptive, 20.0 N
Slide 5: EVFM: Key investment considerations
O T C Q B : E V F M EVFM: KEY INVESTMENT CONSIDERATIONS ONGOING GROWTH IN $7.9 BILLION U.S. CONTRACEPTIVE MARKET • 42% increase in Phexxi net sales Q2 vs. Q1 2022 TOP-LINE DATA EXPECTED OCTOBER 2022 FROM PHASE 3 TRIAL OF PHEXXI FOR PREVENTION OF CHLAMYDIA & GONORRHEA IN WOMEN • Positive outcomes sho
Slide 6: MOA - Phexxi is a pH modulator
O T C Q B : E V F M MOA - PHEXXI IS A pH MODULATOR Optimal vaginal pH levels can range from 3.5 – 4.5 WHEN SEMEN (pH 7.1-8) ENTERS THE VAGINA, IT RAISES THE ENVIRONMENTAL pH LEVEL ALLOWS SPERM TO BE MOBILE AND SWIM UP THE REPRODUCTIVE CANAL PHEXXI KEEPS VAGINAL pH IN THE OPTIMAL RANGE VAGINAL pH MOD
Slide 7: Proven to prevent pregnancies without hormones
O T C Q B : E V F M PROVEN TO PREVENT PREGNANCIES W/O HORMONES Results of AMPOWER | A phase 3 multicenter, single-arm, open label clinical trial (n=1384) PRIMARY ENDPOINT 8 6 % EFF ICA CY R A TE O V ER 7 CYCLES KAPLAN-MEIER/TIME-TO-EVENT EFFICACY ANALYSIS OVER 7 CYCLES WITH TYPICAL USE . 7-CYCLE CUM
Slide 8: Gross WAC and net revenue per box of Phexxi
O T C Q B : E V F M GROSS WAC: $338.10 (1) PER BOX OF 12 PHEXXI APPLICATORS 40% GTN ADJUSTMENTS $202.86 NET TO EVOFEM PER BOX OF PHEXXI 1. Effective October 1, 2022. WAC: Wholesale Acquisition Cost. 2. Annual net sales calculation: Net $ to EVFM per box * boxes/year/women * 423,000 women (1% of 42.3
Slide 9: Increasing brand awareness
O T C Q B : E V F M • Significant “earned media” coverage • A360 Media: Phexxi branded content in some of the most widely read entertainment and lifestyle magazines and websites in the U.S. I N C R E A S I N G B R A N D A W A R E N E S S 9 Oct ober 5 , 2022
Slide 10: Advancing our business
O T C Q B : E V F M • Increasing Phexxi access through payer wins including: • Large PBM added Phexxi to national template formularies with no restrictions • National-level commercial payer added Phexxi to formulary for Standard Plans Nationwide • One of the largest commercial payers in California (
Slide 11: Recent clarity from U.S. government on contraceptive access
O T C Q B : E V F M The U.S. Department of Health and Human Services, alongside the Departments of Labor and of the Treasury, clarif ied: 1. It wil l enforce federal law requiring group health plans and health insurance issuers to cover contraceptives approved, granted, or cleared by the FDA at no c
Slide 12: 42% increase in Phexxi net product sales
O T C Q B : E V F M $1.9 $1.7 $3.6 $4.3 $6.0 $- $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 $7.0 $8.0 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 42% INCREASE IN PHEXXI NET PRODUCT SALES 42% INCREASE Q2 vs. Q1 IN M IL LI O NS 12 Oct ober 5 , 2022
Slide 13: Reducing our operating expenses
O T C Q B : E V F M $- $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 $45.0 $50.0 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 REDUCING OUR OPERATING EXPENSES IN M IL LI O NS $ 30.5 $ 33.2 $ 41.0 $ 45.1 $ 43.0 C o s t o f g o o d s s o l d R e s e a r c h & d e v e l o p m e n t S a l e s & m a r k e t i
Slide 14: Narrowing our loss from operations
O T C Q B : E V F M $(41.1) $(43.4) $(37.4) $(28.9) $(24.4) $(50.0) $(45.0) $(40.0) $(35.0) $(30.0) $(25.0) $(20.0) $(15.0) $(10.0) $(5.0) $- Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 NARROWING OUR LOSS FROM OPERATIONS IN M IL LI O NS 16% DECREASE Q2 vs. Q1 14 Oct ober 5 , 2022
Slide 15: Chlamydia & gonorrhea prevention Phase 3 EVOGUARD trial
O T C Q B : E V F M CHLAMYDIA & GONORRHEA PREVENTION PHASE 3 EVOGUARD TRIAL
Slide 16: F M 1. CDC (2021): Sexually Transmitted Disease Surveillance 2019. https://www.cdc.gov/std/statistics/2019/default.ht…
O T C Q B : E V F M 1. CDC (2021): Sexually Transmitted Disease Surveillance 2019. https://www.cdc.gov/std/statistics/2019/default.htm 2. CDC (2021): https://www.cdc.gov/media/releases/2021/p0125-sexualy-transmitted-infection.html 3. CDC. Sexually transmitted infections prevalence, incidence, and co
Slide 17: EVOGUARD trial design
O T C Q B : E V F M EVOGUARD TRIAL DESIGN • Randomized, double-blind, placebo-controlled Phase 3 cl inical trial • Enrolled 1903 women at over 100 U.S. sites • Primary endpoint: reduction in chlamydia and gonorrhea infections among women using Phexxi vs. placebo BUILDS ON POSITIVE, STATISTICALLY SIG
Slide 18: Chlamydia & gonorrhea prevention expected timeline
O T C Q B : E V F M 1. Assumes favorable outcomes of EVOGUARD 2. Assumes timely acceptance of sNDA submission(s) CHLAMYDIA & GONORRHEA PREVENTION | EXPECTED TIMELINE CLINICAL AND REGULATORY MILESTONES ü Last Subject Last V is it completed July 2022 • Top-l ine data readout expected mid-October 2022
Slide 19: Other growth and value creation strategies
O T C Q B : E V F M OTHER GROWTH AND VALUE CREATION STRATEGIES
Slide 20: Other growth and value creation strategies
O T C Q B : E V F M OTHER GROWTH AND VALUE CREATION STRATEGIES Partnerships and more LEVERAGE U.S. SALES FORCE FOR OTHER WOMEN’S HEALTH PRODUCTS • Id en t i fy syn erg is t ic p ro d u cts to co -m arket to O B /G YN s an d a l l ied h ea l th care p ro v id ers • O ffset co m m erc ia l o p erat in
Slide 21: U.S. intellectual property protects Phexxi into at least 2033
O T C Q B : E V F M U.S. INTELLECTUAL PROPERTY PROTECTS PHEXXI INTO AT LEAST 2033 NEWLY ISSUED PATENT COVERING PHEXXI COMPOSITION OF MATTER (1) • Expected to provide protect ion into at least 2033 TWO ORANGE BOOK LISTED PATENTS • 1 0 ,5 6 8 ,8 5 5 : M eth o d o f u se p aten t th at co vers co n tra
Slide 22: Current expectations
O T C Q B : E V F M CURRENT EXPECTATIONS 2022 NET PRODUCT SALES OF $30 - $35 MILLION • 264% - 325% growth year-over-year GROSS-TO-NET OF 40% OR BETTER REDUCE OPEX BY $50 MILLION IN 2022 vs. 2021 • $25.3 million lower in 1H 2022 vs. 1H 2021 CASHFLOW BREAKEVEN ON A QUARTERLY BASIS NO LATER THAN YEAR-E
Slide 23: Shattering the hormone glass ceiling
O T C Q B : E V F M SHATTERING THE HORMONE GLASS CEILING
Slide 24: Thank you
O T C Q B : E V F M T H E H O M E O F P H E X X I – O N - D E M A N D N O N - H O R M O N A L C O N T R A C E P T I V E G E L . S C I E N C E W I T H A S O U LO T C Q B : E V F M T H A N K Y O U
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