What happened

Agile Therapeutics (NASDAQ:AGRX), a small-cap women's healthcare company, is starting the week off on the right foot. Specifically, the drugmaker's shares are up by 11.2% on extremely heavy volume, as of 10:40 a.m. EDT Monday.  

Unfortunately, the spark behind this double-digit move higher -- and enormous spike in volume -- isn't altogether clear at this point. Agile hasn't released any major news or noteworthy SEC filings in the past few weeks.

A young professional man pumping his fists in excitement while sitting at a desk with a laptop on it.

Image source: Getty Images.

So what

That said, the company is slated to release its first-quarter earnings report after the closing bell tomorrow. Although Wall Street isn't expecting much in the way of Q1 revenue from the company's newly approved once-a-week contraceptive patch known as Twirla, there could be some news on the partnering front. For their part, investors appear to be betting on Agile announcing something along these lines tomorrow. Twirla, after all, is undoubtedly more valuable in the hands of a big pharma with a full-blown women's healthcare unit. 

Now what

Is Agile's stock still a buy after this latest move northward? It all depends on how long you're willing to hold this early commercial-stage biotech stock. There's no evidence that a partnering deal is imminent and it might take Agile several years to establish Twirla as a major revenue generator. On the bright side, Twirla does have the potential to morph into a solid cash cow for the company in the years ahead. So if you're willing to buy and hold for at least five years, this small-cap biotech stock might be worth the risk.