US biotech firm Evofem Biosciences (Nasdaq: EVFM) has announced the resubmission of its New Drug Application to the US Food and Drug Administration for its lead candidate Amphora (L-lactic acid, citric acid and potassium bitartrate) for the prevention of pregnancy.
Market reaction was mixed; the firm’s shares gained 2% pre-market, but were down 1.13% at $6.15 by mid-morning, having dropped as low as $5.87.
Amphora is an investigational Multipurpose Vaginal pH Regulator (MVP-R) designed to regulate vaginal pH in the normal, 3.5 - 4.5 range. This maintains an acidic vaginal environment which is inhospitable to sperm and also to various bacterial pathogens.
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