Business
TherapeuticsMD Announces Third Quarter 2022 Financial Results
- Q3 total revenue of $20.9 million - - ANNOVERA TRx growth of 10% year-over-year - - Reduced operating expenses by $22 million year-over-year - BOCA RATON,
About this update from Therapeuticsmd, Inc.
[{"type":"text","content":"\n- Q3 total revenue of $20.9 million -\n- ANNOVERA TRx growth of 10% year-over-year -\n- Reduced operating expenses by $22 million year-over-year -\n\n BOCA RATON, Fla.--(BUSINESS WIRE)--\nTherapeuticsMD, Inc. (“TXMD” or the “Company”) (NASDAQ: TXMD), an innovative, leading women’s healthcare company, today reported financial results for the third quarter ended September 30, 2022.\n\n“Our products continue to be adopted by healthcare providers and patients, and we continue to believe that they represent a significant opportunity. Our prescriber bases grew, and we added around 1,500 new prescribers for ANNOVERA and around 1,600 for IMVEXXY. Total quarterly prescriptions for both products remained relatively stable compared to the second quarter of 2022, and ANNOVERA’s total prescriptions grew 10% compared to the third quarter of 2021. While our third quarter 2022 net revenues declined $4.5 million compared with the prior year, through disciplined cost control measures, we were able to reduce our operating expenses by $22 million year-over-year,” said Mark Glickman, co-Interim-CEO of TherapeuticsMD.\n\n“During the quarter, we were able to move past the inventory issues we experienced in the first half of the year, and our wholesale network is now fully stocked. With these developments and the recent cash infusion from Rubric Capital, we believe our operations have stabilized, and we continue on our path forward toward our goal of meeting the demand for our products and helping to advance women’s health,” added Glickman. “Our Board of Directors and management team continue to actively assess strategic alternatives to strengthen the Company’s long-term financial position.” concluded Glickman.\n\nThird Quarter 2022 Financial Results and Business Highlights\n\n\n\n\n\nThree Months Ended September 30,\n\n\n\n \n\n\n\nNine Months Ended September 30,\n\n\n\n\n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n\nProduct revenue:\n\n\n\n\n\n\n\n\n\n\nANNOVERA\n\n\n$\n\n\n\n10,415\n\n\n\n\n$\n\n\n\n11,807\n\n\n\n\n$\n\n\n\n37,196\n\n\n\n\n$\n\n\n\n30,112\n\n\n\n\nIMVEXXY\n\n\n \n\n\n\n6,947\n\n\n\n\n \n\n\n\n8,016\n\n\n\n\n \n\n\n\n20,583\n\n\n\n\n \n\n\n\n24,866\n\n\n\n\nBIJUVA\n\n\n \n\n\n\n2,663\n\n\n\n\n \n\n\n\n3,298\n\n\n\n\n \n\n\n\n7,877\n\n\n\n\n \n\n\n\n7,899\n\n\n\n\nPrescription vitamin\n\n\n \n\n\...