PDL BioPharma (NASDAQ:PDLI)
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3 Months : From Nov 2019 to Feb 2020
INCLINE VILLAGE, Nev., Dec. 3, 2019 /PRNewswire/ -- PDL BioPharma, Inc. ("PDL" or the "Company") (NASDAQ: PDLI) congratulates Evofem Biosciences, Inc. ("Evofem") (NASDAQ: EVFM) on its recent achievement of two major regulatory and clinical milestones with its lead product candidate Amphora® (L-lactic acid, citric acid and potassium bitartrate), an investigational multipurpose vaginal pH regulator (MVP-R™) for hormone-free birth control and prevention of chlamydia and gonorrhea.
"We are delighted with Evofem's progress and want to congratulate CEO Saundra Pelletier and her team for achieving these two recent important corporate milestones," said Dominique Monnet, president and CEO of PDL.
Resubmission of Amphora New Drug Application
The first milestone was the resubmission of the Amphora New Drug Application ("NDA") to the U.S. Food and Drug Administration ("FDA") for the prevention of pregnancy that was announced November 26, 2019.
Positive Top-Line Results from AMPREVENCE Phase 2b Trial
The second milestone was the reporting of positive topline results from the AMPREVENCE Phase 2b trial evaluating Amphora for the prevention of chlamydia (primary endpoint) and gonorrhea (secondary endpoint) that was announced December 2, 2019.
The AMPREVENCE study met both its primary and secondary endpoints, with a 50% relative risk reduction in chlamydia infection and a 78% relative risk reduction in gonorrhea infection compared to placebo. Both results were statistically significant. Chlamydia and gonorrhea are the two most commonly reported sexually transmitted infections (STI) in the United States. According to the Centers for Disease Control and Prevention, domestic cases of STIs reached an all-time high in 2018 with nearly 2.4 million cases being reported.1
Consistent with previous trial results, Amphora was generally safe and well tolerated in this study population.
PDL holds a 29% equity stake in Evofem. For additional information about these milestones, please visit https://evofem.investorroom.com/news-releases.
About Evofem Biosciences, Inc.
Evofem Biosciences, Inc. is a clinical-stage biopharmaceutical company committed to developing and commercializing innovative products to address unmet needs in women's sexual and reproductive health. Evofem Biosciences aims to advance the lives of women by developing novel solutions, such as woman-controlled contraception and potential protection from certain sexually transmitted infections. The company is leveraging its proprietary Multipurpose Vaginal pH Regulator (MVP-R™) platform to develop Amphora® (L-lactic acid, citric acid and potassium bitartrate) for hormone-free birth control and prevention of chlamydia. For more information, please visit www.evofem.com.
Amphora® is a registered trademark and Multipurpose Vaginal pH Regulator (MVP-R™) is a trademark of Evofem Biosciences, Inc.
About PDL BioPharma, Inc.
PDL's mission is to improve the lives of patients and create value for our shareholders and our people by applying our capital and expertise for the successful development and commercialization of innovative therapeutics by our partner companies. For more information please visit www.pdl.com.
NOTE: PDL, PDL BioPharma, the PDL logo and associated logos and the PDL BioPharma logo are trademarks or registered trademarks of, and are proprietary to, PDL BioPharma, Inc. which reserves all rights therein.
1 Sexually Transmitted Disease Surveillance Report, Centers for Disease Control and Prevention (CDC), October 8, 2019.
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