Shares of Evofem Biosciences Inc. (USA:EVFM) soared 164.6% in trading on Monday in a rally that began Friday when the Supreme Court decision striking down Roe v. Wade was announced. Evofem makes a birth-control product with a four-year shelf life called Phexxi, a non-hormonal gel that controls pH levels, which reduces the mobility of sperm. The gel is inserted prior to sex. Some experts have speculated that states could place restrictions on some forms of birth control following the decision. Evofem's stock has declined 82.5% this year, while the broader S&P 500 (S&P:SPX) is down 17.9%.
June 27, 2022, 2:13 p.m. EDT