UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(D)
of the Securities Exchange Act of 1934
December 1, 2016
Date of report (Date of earliest event reported)
Agile Therapeutics, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
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001-36464 |
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23-2936302 |
(State or other jurisdiction |
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(Commission |
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(IRS Employer |
101 Poor Farm Road |
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08540 |
Registrants telephone number, including area code (609) 683-1880
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
On December 1, 2016, Agile Therapeutics, Inc. (the Company) issued a press release announcing that it had received net proceeds of approximately $3 million in non-dilutive financing through the State of New Jerseys Technology Business Tax Certificate Transfer Program (the Program). The Program enables approved biotechnology companies to sell their unused Net Operating Loss Carryovers and unused Research and Development Tax Credits for at least 80% of the value of the tax benefits to unaffiliated, profitable corporate taxpayers in the State of New Jersey. The New Jersey Economic Development Authority and the New Jersey Department of the Treasurys Division of Taxation administer the Program. The Company intends to use the proceeds from the sale for working capital purposes.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit |
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Description |
99.1 |
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Press release issued by Agile Therapeutics, Inc. dated December 1, 2016. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Agile Therapeutics, Inc. | |
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Dated: December 1, 2016 |
By: |
/s/ Alfred Altomari |
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Name: |
Alfred Altomari |
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Title: |
President and Chief Executive Officer |
EXHIBIT INDEX
Exhibit |
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Description |
99.1 |
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Press release issued by Agile Therapeutics, Inc. dated December 1, 2016. |
Exhibit 99.1
Agile Therapeutics Receives Approximately $3 Million in Non-Dilutive Funding from New Jerseys Technology Business Tax Certificate Transfer Program
PRINCETON, N.J., December 1, 2016 - Agile Therapeutics, Inc. (Nasdaq: AGRX), a womens health specialty pharmaceutical company announced today that it has received net proceeds of approximately $3 million in non-dilutive financing through the State of New Jerseys Technology Business Tax Certificate Transfer Program (the Program). The Program enables biotechnology companies to raise funds to finance their growth and operations and is administered by the New Jersey Economic Development Authority (NJEDA) and the New Jersey Department of the Treasurys Division of Taxation.
We appreciate NJEDAs decision to approve our application for this years program. Proceeds from the Program serve as an important source of non-dilutive funding to companies like ours, said Scott Coiante, Vice President and Chief Financial Officer of Agile. We would like to thank New Jersey for their continued support and strong commitment to our industry.
The Program enables approved biotechnology companies to sell their unused Net Operating Loss Carryovers (NOLs), and unused Research and Development (R&D) Tax Credits for at least 80% of the value of the tax benefits to unaffiliated, profitable corporate taxpayers in the State of New Jersey. This allows biotechnology companies with NOLs to turn their tax losses and credits into cash proceeds to fund more R&D, buy equipment and/or facilities, or cover other allowable expenditures under the Program. The NJEDA determines eligibility for the Program, the New Jersey Division of Taxation determines the value of the available tax benefits (NOLs and R&D Tax Credits).
About Agile Therapeutics, Inc.
Agile Therapeutics is a womens health specialty pharmaceutical company focused on the development and commercialization of new prescription contraceptive products. Our product candidates are designed to provide women with contraceptive options that offer greater convenience and facilitate compliance. Our lead product candidate, Twirla®, (ethinyl estradiol and levonorgestrel transdermal system), also known as AG200-15, is a once-weekly prescription contraceptive patch currently in Phase 3 clinical development. Twirla is based on our proprietary transdermal patch technology, called Skinfusion®, which is designed to provide advantages over currently available patches and is intended to optimize patch adherence and patient acceptability. For more information, please visit the company website at www.agiletherapeutics.com. The company may occasionally disseminate material, nonpublic information on the company website.
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Source: Agile Therapeutics
Contact: Mary Coleman 609-356-1921