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Agile Therapeutics Possible Audit Concern

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In Form 10-Q filed on July 28, 2017, Agile Therapeutics, Inc. filed their unaudited financial statements for the quarterly period ended June 30, 2017. As of June 30, 2017, the Company had cash and cash equivalents of $33.9 million. The Company believes that its existing cash and cash equivalents will not be sufficient to fund its current and planned operations through the next 12 months, which raises substantial doubt about the Company’s ability to continue as a going concern. Agile Therapeutics has incurred losses in each year since inception in December 1997. Net loss was $28.7 million, $30.3 million and $16.1 million for the years ended December 31, 2016, 2015 and 2014, respectively. Net loss was $7.4 million and $15.0 million for the three and six month periods ended June 30, 2017. As of June 30, 2017, the Company has an accumulated deficit of approximately $208.4 million. Read more on distressed companies.

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