Roth Capital analyst Yasmeen Rahimi says Evofem announced that the FDA accepted Amphora's NDA with anassigned PDUFA date on May 25, 2020, bringing it one step closer to potential approval of Amphora, representing a major inflection point that would transition Evofem to a commercial stage company from a clinical biotech. Rahimi tells investors in a research note that despite strong execution by the team, Evofem shares continued to be pressured due to financing risk, which she thinks is going to be resolved via non-dilutive funding. The analyst maintains a Buy rating and $12 price target on the shares.