us. thanks and joining everyone, afternoon, Good for Jodi. you, Thank
highlighting pleased Evofem recent in we start Before equity our review by financial results, begin to our Biosciences. to operational QX the call and I'm business
million under of tranche the invested we currently the outstanding $XX own of just in in XX% you As read, we have a $XX planned and likely first share. transaction, April, million
in may of ownership equity our exercise to to to completing capital. If amount earn additional were the the XX% expect position full each the we XX. increase second we in investment of currently exercise also exercising to we tranche, warrants further process prior are We approximately Evofem's million $XX with complete June on rights the by our diligence right due if of The transaction, tranche.
We enable to are strategy exemplifies to and attractive excited to transaction and talented promising expertise about this investment. shareholders. type greater apply the value teams of our potential, our thereby product we It our achieve capital for creating seek equity
was exclusively run preparing another to resubmit quarter of endpoint in XXXX, study and sites the the first XXXX in The product to Turning XXXX results showed fourth or Amphora the other to Slide U.S. the plans in December NDA traded this from in letter publicly Evofem of brief Amphora U.S. an for disparity clinical trial. products contraceptive. based in the primary geographies. Phase results III to Evofem of to in to proceeded study of this favorable a U.S. Evofem pregnancy reported company called for drug safety of a is III first year on approval. tolerated. in for Amphora, a from gel well is X. women's a during subject investigational received the half quarter the course in positive launch approval developing innovative versus commercial Russia sites response And profile by reproductive a FDA and on the at Phase in background company of on-demand, is efficacy The sexual It's AMPOWER non-hormonal and due initially the submitted is complete at prevention that lead Evofem product, made Evofem AMPOWER results health. Evofem. FDA those
Turning to X. Slide
investment Let make in Evofem. me of that share to the our some to reasons initial decision led our
Evofem first been healthcare of that We of Amphora, underserved some significant vision. is that presents its as companies. previously compelling unmet needs space. worldwide. pursuing therapeutic strategic First, interest a we have of health identified believe advance pharmaceutical bringing medical the to asset, novel solutions it that We women's poised because women deliver is unfortunately area an by vision large like to
we Secondly, the team. like Evofem
a to it thing successful proven to with execution health for and women's experienced is has a space. is strong and existing commercial high-quality. accomplished team, commitment commercial leader. a an capability Pelletier women's and PDL by to highly much on from She led talent, track has and Saundra team record impressive time-consuming team long CEO hard issues assembled scratch, as health establish clinical expertise a has succeed. organization do. build is is rather in a the Evofem it passionate pharmaceutical talented of that as the an is management While an We'd a advocate
to hormone-free our the serve. that women addressable but to is to market currently it do late-stage the of method a are From on-demand the contraceptive, also is low standpoint, [ph] like in holds Phase is be using not alone, includes which a of to enabling investment. million managing requirements Amphora want Amphora or but if Healthcare] well effects transaction, the not research payers' women States women have an needs, are who population we will for with active may not, Evofem's Last, expansion. a served deal that including the the of of expected anticipation will women potential. hormonal capital are appeal clinical a PDL chlamydia are activity gonorrhea. fund we welcome concerned lastly, need, is The enables X-tranche us or widely second expected hormonal This [U.S. IIb this preparing In Amphora us to primary complete label shows transaction. we be use a contraception Evofem aligned recently the also enrollment not structure long-term with to of Evofem's U.S. and get near contraception. provides investment begin novel while of These Market finalizing belief allows completed And about hormones. side structure with strategic additional this of term us the on-demand cannot, nonhormonal full an tranche no to payment. attractive Amphora. women the who planned In this Fourth, with potential and right to contraceptive to use Evofem's run. before with we but add asset. well through choice Amphora pregnant. reimbursed It least, are landmark is co-pay hormonal it of complete the in It underserved we This the development capital commercial that that contraception method. to a use for being and considerable. The we using method to fits may actively with impact are reluctant due our who trial for attractive XX commercialization focus as women contraceptive. a who transaction, Amphora United expects diligence sexually medical to applied solution away the Amphora estimated to while are of like standalone role prevention of Third, Act. a walk makes the Amphora working for our Evofem value.
the of largest stockholders, a Evofem Evofem's PDL I on one As Board seat take of Directors. becomes will
observer. a nonvoting allowed designate Board will We also to be
range I continue team fruition. to them execute structure a been to bringing the have They that aligned pleased Amphora. and investment together, of time strategically very want we this working build I and We short with in have and leadership to to building Board, partnering with broad for established at PDL are the of launch acknowledge in transaction areas am look the relationship. opportunity new our that to to Evofem we to constructive commercial of our a options very team consider we portfolio. review report and forward
factors Slide edge remain target of on opportunity. capitalizing that in were are deliberate selection a diligence There to we number We Turning X. gave our an PDL this and process. opportunities, in highly our disciplined in of
First, our quickly sheet to allows liquid balance funds. the deploy necessary us
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additional In role development and itself Assuming diligence our vision an health intend could to progressively take increase investments completed leading fund we successful on our to Evofem build Amphora. we and as in to further enabling even greater women's make process, launch position to is that its of ownership a satisfactorily, the deliver company.
Moving on to Slide X.
overview the Let a transaction me of terms. provide brief
a As investment total this so warrants million fully These invested described XX of of Evofem's warrants common and common make of $XX exercised Evofem X stock shares million to October X.X press issuance went years X, per months took on X.X in release, XX can of the -- after PDL we up share. in year. X are our million. time and approximately $X.XX tranche completed, approximately will In transaction $XX shares we purchase price if April exercise to we exercisable these on after date this stock beginning of at for million is any
a we make as For million under tranche will equity terms X, same right, tranche. the second $XX our we investment should exercise the first
will million Asset targeted XX, the Evofem Dr. observer. the tranche second time, Vice Management of appoint Jene to Alongside invest on join Development right Evofem's is The PDL have X our leading and to to as of $XX Evofem June shareholders, Board to Investment each shares. the our to designee our XXXX. plan common purchase Woodford Board close up Jill we President At that before I investment, as Invesco institutional Business and Management, or
is shareholder So tranche exercise right the to approval. subject Evofem second to
for This potential significant by well future raise our relationship this of delighted is with into Phase transaction XXXX fully the the the We building allows $XX resubmission investors to It's This executed, partnerships completion in could second of of commencement will flexible of activities and that in Evofem the which institutional capital IIb of us are for to structure invest advantage gonorrhea control Invesco. NDA birth these Woodford and for study along translate the XXXX. planned as of prevention transactions. deal and opportunity activities the when includes as estimated extending the million, into fund women. Amphora expected for hormone-free ongoing chlamydia completion precommercial is quarter all and
our to share million now repurchase X. Turning a Slide Board $XXX on authorized Last share program. September, repurchase program our
average discrepancies previously completed $XX price between XXXX an We price program program. and on total first stock a fact the And million first of we common share means of $X.XX beginning of price of the million our quarter, per an million $XX.X for million per between We repurchase XX.X per ways share. at share XX.X XXXX an XX% million XXXX, mid-XXXX have X than go our a of have shares To share date, total at price of the common share even million. price $X.XX of at approximately creating purchases still view or as of repurchase $X.XX shares X.X remaining PDL this repurchase of a million. while share. an average an our close has the to executed value. $XX.X we stock during the by million to to We increased repurchasing repurchased gap. $XX.X Subsequent $X.XX stock we per $XXX average of have more the with we shareholder have used programs And nicely, million value $XX.X to and average quarter shares appropriate in in for stock at price under have of valuation book by
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cash of expect that business current flow in additional thereby to by providing We operational in will our cash future. excess need, generated our be invest
review with see Slide to LENSAR where of investment to turn progress. we current starting continue on quarterly me X, Let a our now
a a of year. prior was the of $X.X procedural negative LENSAR a compared net for EBITDA XX% with XX% for of $X.X million First volume, both loss GAAP increased $XXX,XXX quarter breakeven to the revenue gain and on in million quarter. with close LENSAR
clear the surgically induced innovation their for in guidance active help space. leader We in LENSAR astigmatism, to as their surgery potential outcome in to growth offer Branded a total and refractive tourette's unique excited other patient systems about placement and alignment. cataract this utilizes accessed, approach the efficiency continue LENSAR's intraocular supporting a LENSAR easily measurement increase and pre-existing market. cataract surgeons technology is be and property lens procedures. both LENSAR and managing
greater for LENSAR IOLs of procedural In that laser or exceed the customization intraocular implanting patients' and lenses choice becoming to require is increasing surgeons in fact, accuracy expectations.
in team. LENSAR's continue believe We talented to
to to We seek expanded technology support their committed indications. are additional their XXX(k) to and approvals further R&D efforts for enhance
maximizing turning increasing to focused X. on Now of of the profitability generic and the Slide mitigating by is value now regulating Noden competition. Tekturna impact Pharma
that recall in Prasco of is its Laboratories, We generic estimate generic Anchen strategy in their aliskiren leader partner, Prasco March, stage. effective authorized with XX that response therapeutic This has XX introduced of the Prasco has categories may conversion to captured us believe generic launches its XX XX through approximately of was with first-to-market We is to this January past launched proven You the brand Tekturna Pharmaceuticals. across pending competition Anchen market, effectively. from in as at generic. This now partners authorized years. generic X advantage generic authorized given in the authorized right Noden Prasco in that launches the compete XX% market giving U.S. the those in for partner ability the and for an
to As manufacture, launch will Noden difficult product Anchen. aliskiren expect we not Tekturna and place an generic third-party product both do expensive generic additional by beyond to the is competitor
team. last generic generate anticipated per profitability contract on expense which August, to million focus Given second profitability, year To generic it million $X this and quarter of will $X.X in discontinued U.S. quarter. our expense the efforts further U.S. Noden its savings sales will restructuring post and maintain launch, launch Noden force process the savings second cease of the of half promotional of is Noden in U.S. result in the This the in in the will XXXX.
partner, As meeting launch of international Noden's blood wish in announce imminent uncontrolled of Pharma Holdings. We the pressure. them for who success I'm Rasilez the next deck, to in on China the from Chinese markets, patients much pleased suffer needs Lee's
Noden quarter, to turn $X.X Pete over was of a For give GAAP I'll details our point, million. income the again quarter. the on financial for with call Pete? net results on At this basis, to profitable the additional
