Why Evofem Biosciences Is Down Today
Evofem Biosciences (NASDAQ: EVFM), a small-cap biopharmaceutical company that focuses on developing products to address women's reproductive health needs, is plunging on the stock market on Wednesday, following the company's announcement of the pricing of a public offering of common stock after the market closed on Tuesday. Shares of Evofem Biosciences are down by 25.1% as of 11:17 a.m. EDT today. Evofem Biosciences intends to raise about $100 million via this public offering of common stock by selling 28.5 million at $3.50 a share.
