Evofem Biosciences Raises $50M In Offering

San Diego-based Evofem Biosciences, a developer of biopharmaceuticals for female reproductive health, reported it raised $50M in its previously announced public offering. It said it will net approximately $46.6M after underwriting discounts, commissions, and expenses. The company sold 50 million shares of its common stock, plus two year warrants on up to 50 million additional shares. The company said the funding goes towards its commercialization activities, advertising, clinical trials, development activities, plus general corporate purposes. The offering was run by H.C. Wainwright. Evofem trades as EVFM on the Nasdaq.