TherapeuticsMD (TXMD) — Stock, Pipeline & Market Cap

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TXMD · Stock Price

USD 2.01-0.23 (-10.27%)

Market Cap: $22.8M

Historical price data

Market Cap: $22.8MPipeline: 7 drugs (4 Phase 3)Founded: 2008Employees: 1-10HQ: Boca Raton, United States

Sector Ranking#114 in Drug Delivery & Formulation

Overview

Founded in 2008, TherapeuticsMD was established to advance the science and standardization of bio-identical hormone therapy for women's health. The company achieved significant milestones with the FDA approval of three novel products for menopause and contraception, most notably the long-acting contraceptive ring ANNOVERA. In 2022, facing commercial and financial challenges, the company executed a strategic pivot, selling its prescription business to Mayne Pharma for up to $140 million and transitioning to a royalty-based business model focused on its licensed intellectual property.

Women's HealthMenopauseContraception

Technology Platform

The company's historical platform focused on the development and clinical validation of standardized bio-identical hormone therapy (BHT) formulations and proprietary drug delivery systems, notably a silicone polymer matrix for sustained hormone release.

Pipeline

7

7 drugs in pipeline4 in Phase 3

Drug	Indication	Stage
Progesterone + Placebo	Secondary Amenorrhea	Phase 3
Estradiol + Progesterone + Placebo	Menopause	Phase 3
Estradiol + Placebo	Vulvovaginal Atrophy	Phase 3
oral estradiol 1.0 mg + oral progesterone 100 mg	Menopause	Phase 3
Estradiol + placebo	Menopause	Phase 2

Funding History

4

Total raised:$335M

Debt$200MRoyalty PharmaJun 15, 2017

IPO$70MUndisclosedOct 11, 2012

Series B$45MUndisclosedSep 15, 2011

Series A$20MUndisclosedMay 15, 2008

Opportunities

The company's sole opportunity lies in the potential for its licensed products (ANNOVERA, BIJUVA, IMVEXXY) to achieve greater commercial success under Mayne Pharma's stewardship, leading to higher-than-anticipated royalty revenue that could service its debt and provide residual value to shareholders.

Risk Factors

TherapeuticsMD faces extreme risk due to its complete dependence on third-party royalty income, a burdensome debt load that may exceed its revenue-generating capacity, and a complete lack of strategic growth options or pipeline, making it a highly speculative and passive investment.

Competitive Landscape

The company no longer competes directly. Its licensed products, commercialized by Mayne Pharma, face intense competition in both the menopause and contraception markets from large pharmaceutical companies with greater resources and established market share.