As previously reported, Maxim downgraded Agile Therapeutics to Hold from Buy. The analyst cites the company’s lower-than-expected revenue that created concerns regarding Twirla’s sales potential and revenue ramp in 2024. Maxim further cites Agile’s likely cash requirements, stating that between the cash balance at the end of Q3 of 2023 and the estimated cash burn in Q4, additional capital will likely be required as soon as the beginning of Q2 of 2024.
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