Agile Therapeutics, Inc. (NASDAQ: AGRX) found its shares dwindle in price Friday, as the women's health-care company today reported financial results for the calendar year’s final quarter, and provided a corporate update.
The Princeton, New Jersey-based Agile reported Thursday that at the end of last year, it had $34.5 million of cash and cash equivalents compared to $7.9 million of cash and cash equivalents as of December 31, 2018.
The Company believes its cash and cash equivalents as of December 31, 2019, along with the proceeds of the Perceptive credit agreement received to date, will be sufficient to meet its projected operating requirements through the end of 2020.
G&A expenses were $3.3 million for the quarter ended December 31, 2019, compared to $1.6 million for the comparable period of 2018. The increase in G&A expenses was primarily due to the use of financial consultants, recruiting and search fees and an increase in promotional activities as the Company prepares for the commercialization of Twirla, its flagship product.
Net loss was $6.0 million, or $0.10 per share, for the quarter ended December 31, 2019, compared to a net loss of $3.8 million, or $0.11 per share, for the quarter ended December 31, 2018.
Shares fell 45 cents, or 1.3%, to begin Friday trading at $3.13
