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Agile Therapeutics to lay off 30% of workforce to cut cost

Agile Therapeutics Inc. will reduce its workforce by 30% to cut operating expenses and preserve cash.

The staff layoff will affect employees mainly from Agile's commercial and clinical teams.

In addition, Agile Therapeutics has filed a formal dispute resolution request to the U.S. Food and Drug Administration for its contraceptive patch, Twirla. The company also requested a meeting with the office director of the FDA's Office of Drug Evaluation III.

The FDA previously rejected Twirla over concerns about the patch's adhesion properties and asked Agile to reformulate its transdermal system and conduct additional studies.

The Princeton, N.J.-based women's healthcare company will use its existing cash to fund its operations until the second quarter of 2019 while the dispute process for Twirla's regulatory approval is ongoing.