On March 23, TherapeuticsMD Inc. (TXMD) submitted multiple filings with the U.S. Securities Exchange Commission. Consequently, the stock suffered a downfall in the after-hours session.
During the regular session, the stock went up by 8.87% at its closing price of $0.4356. The volume of shares traded during the session was just above the average at 8.06 million against 7.76 million. In the following after-hours session, TXMD saw a reversal with a loss of 12.76%. Hence, the stock was trading at a price of $0.3800 per share in the after-hours while the volume of shares exchanged was 782.16K.
The pharmaceutical company, TherapeuticsMD Inc. develops products for women. Currently, the company has a market capitalization of $170.01 million with its 424.93 million shares outstanding.
TXMD’s SEC Filings
On Wednesday, the company submitted three SEC filings: i) 10-K: Annual report for the year ending December 31, 2021; ii) POSASR: Post-effective Amendment to an automatic shelf registration statement; and iii) SC 13D/A: General statement of acquisition of beneficial ownership – amendment.
Previously, on March 18, the company had filed a current report on Form 8-K regarding Nasdaq’s notification and certain changes in the company’s leadership. As per the filing, having failed to regain compliance with Nasdaq’s minimum bid requirement in the given period, TXMD has requested a hearing before Nasdaq’s hearing panel. Moreover, the company’s CFO and Principal Financial Officer James C. D’Arrecca will be resigning on April 1, 2022. Thus, VP-Finance & Chief Accounting Officer Michael C. Donegan will succeed Mr. D’Arrecca on an interim basis.
Q4 2021 Financial Results
On March 10, the company declared its financial results for the fourth quarter of 2021.
In Q4 2021, TXMD generated net product revenue of $7.8 million for ANNOVERA, $6.7 million for IMVEXXY®, and $2.7 million for BIJUVA®.
Furthermore, the company incurred a net loss of $43.0 million in Q4 2021, against $42.1 million in Q4 2020. Resultantly, the net loss per share was $0.10 and $0.15 in Q4 of 2021 and 2020 respectively.
Additionally, the cost of goods was $4.7 million while the product gross margin was 75% in the quarter.
The company ended the quarter with $65.1 million in cash on hand on December 31, 2021.
TXMD’s Divestiture of vitaCare
On March 7, TXMD announced its definitive agreement for divesting its vitaCare Prescriptions Services to GoodRx for $150 million in cash. The agreement also includes additional consideration of $7 million based upon vitaCare’s performance through 2023. The transaction is expected to close in Q2 2022.
