Evofem Biosciences Inc (OTCMKTS:EVFM) Stock Extends Rally On A New Appointment

At this point Evofem Biosciences Inc (OTCMKTS:EVFM) is best known for having developed the product Phexxi and back on April 14 it made a key new announcement that investors ought to be aware of. The company announced that it appointed Ivy Zhang as its Chief Financial Officer and Secretary. The appointment went into effect on April 13, 2023.

Trading Data

On Friday, EVFM stock moved up 17.24% to $0.0238 with more than 2.92 million shares, compared to its average volume of 3.80 million shares. The stock moved within a range of $0.0195 – 0.0241 after opening trade at $0.0219.

Evofem Appoints Ivy Zhang as Chief Financial Officer and Secretary

In this role, Zhang would be reporting directly to Saundra Pelletier, the Chief Executive Officer of Evofem Biosciences. Zhang would be responsible for leading the financial activities and financial organization of Evofem. That would include accounting, treasury functions, controllership, tax, financial planning, analysis and external audit.

Pelletier spoke about the new appointment as well and noted that everyone at the company was delighted at welcoming Zhang to the new role. She added that Zhang not only had an intimate idea about the culture of the company along with its history but also possessed the mind set for growth as well as entrepreneurial savvy.

Zhang is expected to be an important member of the company’s executive team which would support Evofem Biosciences’ current operations and also work towards helping the company with its goal to break down its EBITDA on a quarterly basis.