TherapeuticsMD Announces Estimated Third Quarter 2019 Financial Results
October 23 2019 - 4:41PM
Business Wire
TherapeuticsMD, Inc. (NASDAQ: TXMD) (the “Company”) today
announced its estimates of the financial results for the third
quarter ended September 30, 2019.
For the three months ended September 30, 2019, the Company
estimates that its consolidated net revenue from its prescription
vitamin business will range from approximately $2.50 million to
$2.60 million, compared to consolidated net revenue from its
prescription vitamin business of approximately $2.80 million for
the three months ended June 30, 2019. For the three months ended
September 30, 2019, the Company estimates that its consolidated net
revenue from sales of its U.S. Food and Drug Administration
approved products IMVEXXY®, BIJUVA®, and ANNOVERA® will range from
approximately $5.32 million to $5.70 million, compared to
consolidated net revenue from sales of IMVEXXY and BIJUVA of
approximately $3.3 million for the three months ended June 30,
2019. Sales of ANNOVERA commenced in August 2019. The Company
estimates that its consolidated net revenue by product for the
three months ended September 30, 2019 will be as follows:
- IMVEXXY consolidated net revenue for the three months ended
September 30, 2019 will range from approximately $4.5 million to
$4.8 million, compared to approximately $3.1 million for the three
months ended June 30, 2019;
- BIJUVA consolidated net revenue for the three months ended
September 30, 2019 will range from approximately $450,000 to
$500,000, compared to approximately $134,000 for the three months
ended June 30, 2019; and
- ANNOVERA consolidated net revenue for the three months ended
September 30, 2019 will range from approximately $375,000 to
$400,000.
The Company estimates that, as of September 30, 2019, it had
approximately $155.3 million of cash and cash equivalents. As a
result of the Company’s commercial sales of ANNOVERA, as of
September 30, 2019, the Company had accrued a current liability of
$20 million representing the milestone payment due to the
Population Council under the Company’s license agreement for
ANNOVERA. The Company expects to pay this milestone in the fourth
quarter of 2019.
The foregoing amounts are unaudited and preliminary, and do not
present all information necessary for an understanding of the
Company’s financial condition as of September 30, 2019. The review
of the Company’s consolidated financial statements for the three
months ended September 30, 2019 is ongoing and could result in
changes to these amounts due to the completion of financial closing
procedures, final adjustments and other developments that may arise
between now and the time the consolidated financial statements for
the three months ended September 30, 2019 are finalized and
publicly released. The Company’s independent registered public
accounting firm, Grant Thornton LLP, has not audited, reviewed, or
compiled these estimates.
TherapeuticsMD has filed a registration statement (including a
prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement and other documents the
issuer has filed with the SEC for more complete information about
the issuer and this offering. You may get these documents for free
by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, the issuer, any underwriter or any dealer
participating in the offering will arrange to send you the
prospectus if you request it by calling toll-free
1-866-803-9204.
About TherapeuticsMD, Inc.
TherapeuticsMD, Inc. is an innovative, leading healthcare
company, focused on developing and commercializing novel products
exclusively for women. Our products are designed to address the
unique changes and challenges women experience through the various
stages of their lives with a therapeutic focus in family planning,
reproductive health, and menopause management. The company is
committed to advancing the health of women and championing
awareness of their healthcare issues.
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 future performance and are subject to risks and
uncertainties, many of which are outside of the company’s control.
Important factors that could cause actual results, developments and
business decisions to differ materially from forward-looking
statements are described in the sections titled “Risk Factors” in
the company’s filings with the Securities and Exchange Commission,
including its most recent Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, as well as reports on Form 8-K, and include
the following: the company’s ability to maintain or increase sales
of its products; the company’s ability to develop and commercialize
IMVEXXYTM, ANNOVERA™, BIJUVATM and its hormone therapy drug
candidates and obtain additional financing necessary therefor;
whether the company will be able to comply with the covenants and
conditions under its term loan facility; the potential of adverse
side effects or other safety risks that could adversely affect the
commercialization of the company’s current or future approved
products or preclude the approval of the company’s future drug
candidates; the length, cost and uncertain results of future
clinical trials; the company’s reliance on third parties to conduct
its manufacturing, research and development and clinical trials;
the ability of the company’s licensees to commercialize and
distribute the company’s products; the availability of
reimbursement from government authorities and health insurance
companies for the company’s products; the impact of product
liability lawsuits; the influence of extensive and costly
government regulation; the volatility of the trading price of the
company’s common stock and the concentration of power in its stock
ownership. PDF copies of the company’s historical press releases
and financial tables can be viewed and downloaded at its website:
www.therapeuticsmd.com/pressreleases.aspx.
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version on businesswire.com: https://www.businesswire.com/news/home/20191023005868/en/
Nichol Ochsner Vice President Investor Relations 561-961-1900
Ext. 2088 nochsner@TherapeuticsMD.com
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