What happened
Shares of Agile Therapeutics (AGRX) were up more than 23% for the week as of 3 p.m. on Thursday, according to data provided by S&P Global Market Intelligence. The women's healthcare company's shares closed last week at $1.76, then rose to as high as $2.24 by late Thursday afternoon. The stock is still down more than 80% this year.
So what
The stock got a boost late last week when it got an upgrade from analysts at Maxim Group with a buy rating and a price target of $5. It also helps that the stock appears to have avoided the threat of being delisted from the Nasdaq for now.
On Aug. 9, in the company's second-quarter report, it said it had received a letter on June 2 saying it had been granted an 180-day extension to regain compliance. That deadline would have been Sept. 25, and the company is still on the Nasdaq, though Agile hasn't reported that it is now in compliance.
Being listed on the exchange matters, because it helps the company raise money through stock sales and makes it eligible for certain index funds.
Now what
Agile's finances appear to be looking up. The company has one approved product, the birth control patch Twirla. Second-quarter revenue was $5.5 million, up 44% year over year, and there was an earnings per share (EPS) loss of $2.15, compared to an EPS loss of $57.29 in the same period last year.
The company said it is on track for $25 million to $30 million in sales this year and profitability in the future. The company has four programs in its pipeline led by AG890, a contraceptive patch that is in phase 2 trials.
