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Evofem shares surge as contraceptive gel meets late-stage trial goal

December 17, 2018 3:42 PM
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(Reuters) - Shares of Evofem Biosciences Inc jumped as much as 38 percent on Monday after its birth control gel showed effectiveness in a late-stage study, bringing the first hormone-free contraceptive close to approval.

Male condoms and oral pills dominate the $5.5 billion contraceptive market in the United States. However, oral pills cause side effects such as bleeding between periods, mood swings and nausea in women.

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