Cadence OTC

Cadence OTC

Growth Stage

Birth control without barriers

Birth control without barriers

Overview

Raised to Date: Raised: $322,776

Total Commitments ($USD)

Platform

Wefunder

Start Date

03/10/2024

Close Date

04/28/2024

Min. Goal
$100,000
Max. Goal
$3,000,000
Min. Investment

$250

Security Type

Convertible Note

Series

Series D

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$73,000,000

Discount

20%

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/15/2024

Days Remaining

13

% of Min. Goal

323%

% of Max. Goal

11%

Likelihood of Max
unlikely
Avg. Daily Raise

$8,966

# of Investors

144

Momentum
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Year Founded

2014

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B2C

Margin

Medium

Capital Intensity

High

Location

Houston, Texas

Business Type

Growth

Cadence OTC, with a valuation of $73 million, is raising funds on Wefunder. The company makes birth control without barriers and aims to sell it over-the-counter without a prescription. Cadence OTC plans to make over-the-counter birth control accessible to everyone, everywhere, and is working with the FDA to enable The Pill to be sold without a prescription through the Rx-to-OTC switch process. The business has a revenue run rate of $3 million and has an exclusive partnership with the number one distributor of healthcare products in 180,000 US convenience stores. Samantha Miller, Nap Hosang, and Malcolm Potts founded Cadence OTC in September 2014. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $3 million. The campaign proceeds will be used for the commercial launch of the emergency contraceptive product and the pregnancy test product, as well as manufacturing and final selection studies for the OTC pill.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-9,919,466

$-3,634,345

Summary Balance Sheet

FY 2022 FY 2021

Cash

$6,676,902

$9,781,082

Accounts Receivable

$0

$0

Total Assets

$8,959,353

$18,392,477

Short-Term Debt

$388,308

$142,391

Long-Term Debt

$708,532

$708,532

Total Liabilities

$1,096,840

$850,923

Financials as of: 03/10/2024
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Cadence OTC on Wefunder 2024
Platform: Wefunder
Security Type: Convertible Note
Valuation: $73,000,000

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