Exhibit 99.1
TherapeuticsMD Announces Second Quarter 2023 Financial Results
BOCA RATON, Fla. – August 14, 2023 – TherapeuticsMD, Inc. (“TherapeuticsMD” or the “Company”)
(NASDAQ: TXMD), a company that owns rights to pharmaceutical royalties, today reported financial results for the second quarter ended June 30, 2023.
“The Company’s transformation into a royalty-based business is ongoing. As we phase out our historical business operations, we remain focused on
reducing costs and conserving cash,” stated Marlan D. Walker, Chief Executive Officer of TherapeuticsMD.
Second Quarter 2023 Financial Results
Net Loss from Continuing Operations
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Net loss from continuing operations was $2.4 million for the quarter ended June 30, 2023, or $(0.24)
per basic and diluted common share, compared to a net loss from continuing operations of $14.9 million, or $(1.70) per basic and diluted common share, for the comparable period in 2022. |
License and Service Revenues from Continuing Operations
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License and service revenues from continuing operations, which are revenues related to license agreements, were
$0.4 million for the quarter ended June 30, 2023, compared to $0.3 million in license and service revenue related to sales to other licensees for the second quarter of 2022. This increase was a result of the Company’s
transformation and transition from a manufacturing and commercialization business to a royalty-based business with revenue from the Mayne License Agreement. |
Total Operating Expenses from Continuing Operations
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Total operating expenses from continuing operations for the second quarter of 2023 were approximately
$2.9 million, a decrease of approximately $11.9 million, or approximately 80.4%, compared to the second quarter of 2022. This decrease was due to the transition of the Company’s business from a manufacturing and commercialization
business to a royalty-based business with limited infrastructure. |
About TherapeuticsMD
TherapeuticsMD was previously a women’s healthcare company with a mission of creating and commercializing innovative products to support the lifespan of
women from pregnancy prevention through menopause. In December 2022, the Company changed its business to become a pharmaceutical royalty company, primarily collecting royalties from its licensees. The Company is no longer engaging in research and
development or commercial operations.
Forward-Looking Statements
This press release by TherapeuticsMD, Inc. may contain forward-looking statements. Forward-looking statements may include, but are not limited to, statements
relating to TherapeuticsMD’s objectives, plans and strategies as well as statements, other than historical facts, that address activities, events or developments that the company intends, expects, projects, believes or anticipates will or may
occur in the future. These statements are often characterized by terminology such as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,” “plans,” “will,”
“expects,” “estimates,” “projects,” “positioned,” “strategy” and similar expressions and are based on assumptions and assessments made in light of management’s experience and perception of
historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and the company undertakes no duty to
update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of