Shares of Windtree Therapeutics, Inc. (WINT) surged over 80% on Thursday morning after the company announced License and Supply agreement to become sourcing partner for Evofem Biosciences, Inc. (EVFM) for one of Evofem's FDA-approved products, Phexxi.
WINT is currently trading at $3.0900, up $1.4000 or 82.8402%, on a huge volume of 81 million shares, above average volume of 355 thousand, on the Nasdaq. The stock opened its trading at $2.5559 after closing Wednesday at $1.6900. The stock has traded between $1.6200 and $737.5000 in the past 52-week period.
The product is a first-in-class hormone-free, on-demand prescription contraceptive vaginal gel that women control. Phexxi annual revenues have grown to more than $19 million with more than 96,000 boxes of 12 pre-filled applicators sold in full year 2024.
Windtree has manufacturing contacts that we believe are capable of reducing pharmaceutical product cost of goods for Phexxi. Pursuant to the License and Supply Agreement, Windtree will serve as the sourcing partner to Evofem and aims to help generate profitable revenue by contracting with the manufacturer to produce Phexxi at a cost that is significantly below current levels.
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