TherapeuticsMD Announces First Quarter 2024 Financial Results

TherapeuticsMD, Inc. (“TherapeuticsMD” or the “Company”) (NASDAQ: TXMD), a company that owns rights to pharmaceutical royalties, today reported financial results for the first quarter ended March 31, 2024.

First Quarter 2024 Financial Results

Net Income (Loss) from Continuing Operations

• Net loss from continuing operations was $(0.8) million, or $(0.07) per basic and diluted common share, compared to net loss from continuing operations of $(2.3) million, or $(0.24) per basic and diluted common share, for 2023.

License and Service Revenues from Continuing Operations

• Gross license royalties totaled approximately $1.2 million under the Mayne License Agreement for the three months ended March 31, 2024. Included in this amount are approximately $0.8 million of gross minimum royalty payments paid under the Mayne License Agreement. The Company recognizes license revenue only on amounts in excess of the gross minimum royalty amounts earned under the Mayne License Agreement. Our net license royalty income is allocated and reported in revenue, net and other income based on the proportion of the sales from each of our licensed products. Based on sales of our licensed products, the Company recognized $0.3 million in revenue, net, and approximately $0.3 million in other income in the three months ended March 31, 2024 related to net license royalties.

Total Operating Expenses from Continuing Operations

• Total operating expenses from continuing operations for the first quarter of 2024 were $1.5 million, a decrease of $1.6 million, or 52.8%, compared to $3.1 million from continuing operations for the first quarter of 2023, primarily attributable to lower general and administrative expenses due to the transition of the Company’s business from a commercializing pharmaceutical business to a royalty-based business.

Evaluation of Strategic Alternatives

• The Company continues to evaluate a variety of strategic alternatives that may include, but not be limited to, an acquisition, merger, other business combination, sale of assets, or other strategic transactions involving the Company. Although the Company is exploring potential strategic alternatives, there can be no assurance of a transaction, a successful outcome of these efforts, or the form or timing of any such outcome. The Company has not set a timetable for completion of this exploration process and does not intend to disclose further developments unless and until it is determined that disclosure is appropriate or necessary.

Balance Sheet