Evofem Biosciences Inc (NASDAQ:EVFM) has collaborated with Orion Biotechnology Canada Ltd to evaluate the compatibility and stability of Orion's OB-002 in Evofem's Phexxi vaginal gel to develop a Multipurpose Prevention Technology (MPT) product candidate for indications including the prevention of HIV in women.
- This collaboration will focus on determining the compatibility and stability of OB-002 in Phexxi and is expected to yield results in Q3 2022.
- Assuming positive results, the companies will seek government and philanthropic funding for subsequent clinical trials of the MPT vaginal gel product candidate.
- Phexxi is a hormone-free, on-demand prescription contraceptive vaginal gel launched in the U.S. in September 2020.
- Top-line data is expected from Evofem's pivotal Phase 3 trial to prevent chlamydia and gonorrhea in women in 2H of 2022.
- Price Action: EVFM shares are up 7.39% at $0.41 during the premarket session on the last check Thursday.
