-1.5 C
New York
Thursday, February 2, 2023

Agile Therapeutics, Inc. (AGRX) Stock Bounced Back after Abysmal Monday, Here’s Why

Agile Therapeutics, Inc. (AGRX), a women’s healthcare company, closed Monday’s regular trading session at $0.13 after declining by 13.26% during the day. However, in the premarket trading session, AGRX has bounced back, as it has surged by 7.60% and consequently is trading at $0.14 at the time of the writing.

AGRX Received Net Operating Loss Tax Benefits

The increase in stock price could be attributed to the announcement regarding the receipt of Net operating loss tax benefits. On Monday, before the opening of the market, AGRX announced that it had received $4.7 million in terms of net proceeds via selling the tax benefits as per the participation of the company in the New Jersey Economic Development Authority Net Operating Loss Program. The program is designed so that it enables qualified biotech companies could sell the net operating losses to unrelated profitable corporations.

Top 5 Undervalued Stocks To Own In 2023

Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.

Click here to download your Free Research Report…


Healthcare Sector Having Pleasant Days

Healthcare companies have performed relatively well during the past few weeks among the other S&P 500 companies. Health Care Select Sector SPDR, which is a representative of the array of healthcare stocks, has increased by 3.4% during a period consisting of the last one week. Market observers are of the view that investor interest is rebuilding in once considered a “defensive sector” on the shares trading front. As for the future, healthcare stocks are in an excellent place as fundamentals are looking solid for them.

AGRX Product Development

AGRX has slipped more than 90% since LAST year, largely owing to its constant battles with the FDA regarding the development of its contraceptive “Twirla”. However, recently, Agile has won the battle and got approval from FDA. With that, the company began to increase the commercialization portfolio of the product. This in turn could lead to excellent results for Agile in terms of sales and revenue generation during upcoming quarters.

Final Remarks

AGRX shares are in a cheap position at the moment. Hence, investors could attain high returns if they prefer to invest in the stock now, especially with the stock price expected to go up in wake of increased sales of Twirla.

Latest news

Related news


Please enter your comment!
Please enter your name here