Three days after the U.S. Supreme Court struck down Roe v. Wade in one of the most potentially impactful rulings of the last century, a handful of women's health stocks are on the move on Monday in response to the news.
Stocks On The Move: Evofem Biosciences Inc
shares ripped higher by more than 133% on Monday morning. Evofem's Phexxi vaginal gel is a contraceptive that can be applied zero to 60 minutes prior to each act of intercourse. Phexxis is a combination of lactic acid, citric acid and potassium bitartrate and is the first and only hormone-free, on-demand prescription contraceptive vaginal gel.
"When women are denied safe, legal abortion, the importance of access to FDA-approved contraception is greater than it has ever been," Evofem CEO Saundra Pelletier said in May.
Agile Therapeutics Inc
shares were up 15.1% on Monday morning. Agile is the maker of Twirla, a weekly contraceptive patch approved by the FDA in early 2020. Agile announced the commercial launch of Twirla in March and is targeting primarily 18- to 24-year-old women.
Dare Bioscience Inc
shares rallied 7.7% on Monday as well. Dare is a clinical-stage biopharmaceutical company focused on developing products for women’s health. Dare's Ovaprene is an investigational hormone-free monthly intravaginal contraceptive.
Benzinga's Take: It's unclear at this point how much of a sales boost contraceptives will get following the Roe v. Wade ruling and how much of Monday's trading action is simply volatility generated in relatively thinly traded stocks generated by the news headlines.
Regardless of your personal beliefs about Roe v. Wade, traders should tread cautiously in these birth control stocks.
