Agile Therapeutics Announces Extension Granted By Nasdaq Hearings Panel To Regain Compliance Until March 25, 2024; Sees FY23 Revenue $20M-$21M
Portfolio Pulse from Benzinga Newsdesk
Agile Therapeutics has been granted an extension by the Nasdaq Hearings Panel to regain compliance with the stockholders' equity continued listing requirement until March 25, 2024. The company expects FY23 revenue to be between $20M-$21M, an 84% to 93% increase from FY22, with GAAP operating expenses projected to decrease by 47% to 44% from $56.6M in FY22 to $30M-$31.5M in FY23. The company also plans to reverse a $2.1M accrual for performance bonuses.
February 15, 2024 | 9:55 pm
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POSITIVE IMPACT
Agile Therapeutics expects a significant revenue increase in FY23 and a decrease in operating expenses, alongside a Nasdaq compliance extension.
The positive revenue forecast and reduction in operating expenses indicate a strong financial improvement for Agile Therapeutics. The extension from Nasdaq provides additional time to meet compliance requirements, potentially reducing the immediate risk of delisting. These factors are likely to be viewed positively by investors, potentially leading to an increase in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100