Therapeuticsmd, Inc. · NASDAQ:TXMD
Therapeuticsmd — Q2 2020 Earnings Presentation
29 slides from Therapeuticsmd's earnings presentation, Aug 6, 2020
Slide 1: 2Q 2020 Earnings
2Q 2020 Earnings August 6, 2020 FOR INVESTOR PRESENTATION PURPOSES ONLY.
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation by TherapeuticsMD, Inc. (referred to as “we,” “our,” or “the Company”) may contain forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, as well as statemen
Slide 3: Strategic Overview
Strategic Overview FOR INVESTOR PRESENTATION PURPOSES ONLY. 3
Slide 4: Strategic Overview
Strategic Overview § 2Q20 total net revenue was resilient despite COVID-19 § Set Sixth Street revenue covenants to reflect the impact of COVID-19 § Executed a strategic and multifaceted plan to adapt to the new reality of a global pandemic and drive long-term shareholder value ⎯ Swift action to righ
Slide 5: Sixth Street Update
Sixth Street Update FOR INVESTOR PRESENTATION PURPOSES ONLY. 5
Slide 6: Sixth Street Loan Update
Sixth Street Loan Update § Revised total minimum net revenue covenants for ANNOVERA, IMVEXXY and BIJUVA 4Q 1Q 2Q 3Q 4Q 2020 2021 2021 2021 2021 $20M $25M $37.5M $47.5M $57.5M § While not formal guidance, covenants are based on the Company’s post-COVID-19 revised forecast § The Company and Sixth Stre
Slide 7: Financial Update
Financial Update FOR INVESTOR PRESENTATION PURPOSES ONLY. 7
Slide 8: Quarterly Net Revenue Trends
Quarterly Net Revenue Trends Quarterly Net Revenue § 2Q20 total net revenue of $10.7M § Early in the quarter, due to COVID-19 there was a reduction in patient visits to healthcare providers that negatively impacted volumes § Later in the quarter, we saw patient demand for ANNOVERA outpace wholesaler
Slide 9: 2Q20 Key Metrics
2Q20 Key Metrics ANNOVERA IMVEXXY BIJUVA Net Revenue ~$1.8M ~$5.1M ~$1.4M Average Net Revenue / Unit: ~$1,3321 ~$412 ~$452 Overall adjudication rate: ~99% ~44% ~56% 1 Average net revenue per unit calculated based on units sold to wholesalers and pharmacies divided into net revenue for the quarter 2
Slide 10: Financial Results: Comparison 2Q 2020 to 1Q 2020
Financial Results: Comparison 2Q 2020 to 1Q 2020 Comparison of Key Financial Statement Items 2Q 2020 1Q 2020 § De-emphasis of BIJUVA triggered write-offs Balance Sheet § $1.9M impact on cost of sales negatively impacted gross Cash $113,839,234 $170,097,813 margin Working Capital $102,460,187 $150,34
Slide 11: Commercial Updates
Commercial Updates FOR INVESTOR PRESENTATION PURPOSES ONLY. 11
Slide 12: 2Q20 and Recent Payor Progress
2Q20 and Recent Payor Progress Coverage Coverage May 2020 July 2020 § ANNOVERA commercial access is 79%* and the ANNOVERA vast majority paying $0 copay Commercial 64% UR, 76% 66% UR, 79%* § Fee for Service Medicaid unrestricted in 37 states Medicaid 45% 46% plus D.C. Department of On Formulary On Fo
Slide 13: 2Q20 Key Performance Metrics: IMVEXXY
2Q20 Key Performance Metrics: IMVEXXY IMVEXXY IMVEXXY Weekly NRx 2Q 2020 TRx to patients ~118,000 3 # Prescribers w/ TRx ~12,000 2.5 Overall adjudication rate ~44% Thousands § Focus on fills allows for continued revenue growth 2 33% growth 8 week over 8 week § Average of 5 fills per patient since la
Slide 14: IMVEXXY Field Force Support Along with DTC Promotion
IMVEXXY Field Force Support Along with DTC Promotion Are Key to Accelerate Growth in the Second Half of 2020 Expansion of Deepen Prescribing with HCP Engagement Direct to Consumer Core Targets1 Communications § 30% salesforce weighting 15K § Focus on Efficacy Message in IMVEXXY combination with Pati
Slide 15: 2Q20 Key Performance Metrics: ANNOVERA
2Q20 Key Performance Metrics: ANNOVERA 2Q 2020 ANNOVERA Monthly TRx TRx to patients ~2,400 # Prescribers w/ TRx ~1,100 1500 Adjudication rate ~99% 1200 § Vast majority of patients paying $0 copay § Contraception is the largest women’s health category valued at $5B from 18M 900 100% women growth 8 we
Slide 16: ANNOVERA Acceleration throughout Q2 from Fast Adaptation in a Virtual World
ANNOVERA Acceleration throughout Q2 from Fast Adaptation in a Virtual World Adapted to a Hybrid Expanded Virtual Offerings Expanded Opportunities Selling Model for Healthcare Providers within Telehealth 43% of calls in 250+ HCPs attended Total of 5 active online platforms June were live virtual spea
Slide 17: ANNOVERA – Positive Market Reception
ANNOVERA – Positive Market Reception WHO ARE OUR WHO ARE OUR WHAT ARE THE PRESCRIBERS CONSUMERS INSIGHTS § NuvaRing writers § Average Age of 31 § Option for providers who do not do IUD § Low IUD writers § Likely switching from procedures current birth control § Procedure-free option that fits lifest
Slide 18: Expectations for a Successful Brand
Expectations for a Successful Brand Contraception Time to Achieve ANNOVERA Revenue Market Size 4-5% Market Share at Different Shares $5 billion 1%: 180K Rx, ~$360M market size 2%: 360K Rx, ~$720M Lo-Loestrin - ~4 years 28 million new 3%: 540K Rx, ~$1.1B prescriptions 4%: 720K Rx, ~$1.4B annually 5%:
Slide 19: ANNOVERA Consumer Campaign Launched on July 1st
ANNOVERA Consumer Campaign Launched on July 1st The Idea There’s a cultural stigma around birth control and women’s reproductive health that keeps us from being direct and clear about it all. ANNOVERA wants to finally have an open and honest conversation. The Focus The Line Candid conversation Unapo
Slide 20: ANNOVERA Consumer Campaign Gaining Traction and Visibility within First Month
ANNOVERA Consumer Campaign Gaining Traction and Visibility within First Month July/August: Women’s Health (15M impressions): “Total Control: Contraceptive Innovations Are Inching Closer Than Ever to Perfection When It Comes to Comfort, Convenience, and Consistent Success. § 100M impressions and 3.1M
Slide 21: Investment in ANNOVERA Consumer Marketing Remainder of Year
Investment in ANNOVERA Consumer Marketing Remainder of Year POPSUGAR Expanded Mediums Consumer Launch Influencers Takeover and PR Campaign 300 million readers every month Reach 1 in 2 32 million female millennials in fans and the US followers JULY AUGUST SEPTEMBER Q4 FOR INVESTOR PRESENTATION PURPOS
Slide 22: Growth Catalyst: High Future Refill Rate
Growth Catalyst: High Future Refill Rate Phase 3 acceptability study (n=1036 women)1* § After 1 year of use: • 85% of the women indicated that they would consider using ANNOVERA if it were free • 75% of the women indicated that they would consider using ANNOVERA, even if they had to pay for it § Vas
Slide 23: Growth Catalysts by Channel
Growth Catalysts by Channel Commercial Public Health Military Online/TeleHealth % OF Emerging and 76% 15% Less than 5% MARKET1 growing channel Afaxys: #1 provider of WSI: specialized DoD RESOURCE Sales Force contraception in 5 online platforms prescription sales force Medicaid channel • Launched to
Slide 24: 2Q20 Key Performance Metrics: BIJUVA
2Q20 Key Performance Metrics: BIJUVA 2Q 2020 BIJUVA Monthly TRx ~27,600 TRx to patients 10 # Prescribers w/ TRx ~4,200 9.62 9.5 Overall adjudication rate ~56% 9.3 Thousands 9.11 9.19 8.92 9 8.43 Maintain Brand Loyalists 8.5 • Targeted approach with team also supporting Bio-Ignite 8 JAN FEB MAR APR M
Slide 25: Regulation of the Compounding Industry
Regulation of the Compounding Industry National Academies of Science, Engineering and Medicine (NASEM) • Report commissioned by FDA and published on July 1, 2020 looking at bio- identical compounding industry • NASEM recommendations for stronger regulation and discipline around promotion and dispens
Slide 26: Key Takeaways
Key Takeaways § 2Q20 total net revenue was resilient despite COVID-19 § Set Sixth Street revenue covenants to reflect the impact of COVID-19 § Executed a strategic and multifaceted plan to adapt to the new reality of a global pandemic and drive long-term shareholder value ⎯ Swift action to right-siz
Slide 27: Q&A
Q&A Prenatal Vitamins CONTRACEPTION/ DYSPAREUNIA PRENATAL FAMILY PLANNING - VASOMOTOR (Vulvar & Vaginal CONTRACEPTION CARE SYMPTOMS PERIMENOPAUSE Atrophy) REPRODUCTIVE HEALTH MENOPAUSE MANAGEMENT FOR INVESTOR PRESENTATION PURPOSES ONLY. 27
Slide 28: Appendix
Appendix FOR INVESTOR PRESENTATION PURPOSES ONLY. 28
Slide 29: The Commercial Plan supports the Portfolio
The Commercial Plan supports the Portfolio § ANNOVERA is our lead product § IMVEXXY is positioned as a second detail § BIJUVA focus on maintaining the brand to leverage the opportunity at the right time 120-130 Sales Reps Product Focus: Afaxys (Public Health) Distribution Channels and WSI (VA/Milita