Slide 1: 1Q 2020 Earnings
1Q 2020 Earnings M ay 6, 2020 Building the Premier Women’s Health Company
Slide 2: Forward-Looking Statements
Fo r wa rd - L o o k i n g S tate m e nt s 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
Slide 3: COVID-19 Strategic Overview
COVID-19 Strategic Overview Our approach is strategic, highly focused and achievable: § Now that we have patient, provider and net revenue data on all 3 of our products, we have developed a path to reduce overall expenses and reallocate our resources that maintains our goal of achieving EBITDA break
Slide 4: Portfolio Strategic Focus
Portfolio Strategic Focus § ANNOVERA will remain our primary focus because of the positive market reception and net revenue per unit results that are a full year ahead of our internal expectations § IMVEXXY is our second priority as it has gained traction amongst the prescribing population and is no
Slide 5: COVID-19 Adaptation
COVID-19 Adaptation • TPG Sixth Street Partners discussions ongoing • We believe ANNOVERA and IMVEXXY are positioned to capitalize on trends accelerating due to COVID-19 ‒ Expanded access through telehealth ‒ Online and retail home delivery distribution ‒ As a result of job losses due to COVID-19, w
Slide 6: 1Q20 Accomplishments and Trends
1Q20 Accomplishments and Trends
Slide 7: TherapeuticsMD Met or Beat Wallstreet Net Revenue Consensus for the Last 4 Quarters
TherapeuticsMD Met or Beat Wallstreet Net Revenue Consensus for the Last 4 Quarters Actual Total Net Product Revenue Wall Street Avg. Net Revenue Concensus ANNOVERA $2.3M Q1 2020 $12,250,657 ANNOVERA $5.8M from initial stocking $15,901,680 Q4 2019 $8,213,341 Q3 2019 $6,078,865 Q2 2019 § ANNOVERA: Pa
Slide 8: 1Q20 Key Metrics: ANNOVERA
1Q20 Key Metrics: ANNOVERA § 1Q20 net revenue: ~$2.3M § 1Q20 total prescriptions (TRx) to patient1: 2,361 § 1Q20 Average (avg.) net revenue per unit2: ~$1,350 § Adjudication rate: ~100% § Expected avg. net revenue per unit during 2020: ~$1,200 - $1,400 § ~77% of ANNOVERA patients are paying $0 copay
Slide 9: 1Q20 Key Metrics: ANNOVERA
1Q20 Key Metrics: ANNOVERA ANNOVERA Full Launch Month Interrupted by COVID-19 M O N T H LY TRx COVID-19 Impact/ 1000 966 Paused Launch 900 800 724 700 671 600 500 400 300 200 100 0 Source: Symphony JAN FEB MAR Sales Reps promoted to 10 Sales Reps to target all prescribers per territory prescribers p
Slide 10: 1Q Key Metrics: IMVEXXY
1Q Key Metrics: IMVEXXY § 1Q20 net revenue: ~$6.4M § 1Q20 TRx to patient1: ~134,000 § 1Q20 net revenue per unit2: ~$48 § Overall adjudication rate: ~44% § Not as heavily impacted by COVID-19 § Established base of business across writers and patients § # HCPs with TRx: 17,000 § Focus on fills allows
Slide 11: 1Q Key Metrics: BIJUVA
1Q Key Metrics: BIJUVA § 1Q20 net revenue: ~$1.1M § 1Q TRx to patients1: ~26,000 § 1Q20 net revenue per unit2: ~$43 § Overall adjudication rate: ~51% § # HCPs with TRx: ~5,000 1 Source: Symphony 2 Calculated Net Revenue per Unit = GAAP Net Revenue divided by number of prescriptions filled by patient
Slide 12: Payor Progress
TherapeuticsMD : For Her. For Life. PAYOR PROGRESS
Slide 13: 1Q20 Payor Progress: ANNOVERA
1Q20 Payor Progress: ANNOVERA § Surpassed IMVEXXY and BIJUVA progress in January 2020 with payor coverage, adjudication, and net revenue per unit § Public Health Expansion fast progress with our partners Afaxys and WSI - Added to formulary for Department of Defense and being sold to 92 military base
Slide 14: 1Q20 Payor Progress: Menopausal Products
1Q20 Payor Progress: Menopausal Products § IMVEXXY Commercial access remains solid at 72% unrestricted § No additional major Medicare Part D adds in 1Q20; still expect to gain 2 of the 3 remaining major plans § COVID-19 has slowed down the payor review process for Part D § Since January 1st, IMVEXXY
Slide 15: Strategic Focus and Response to COVID-19
Strategic Focus and Response to COVID-19
Slide 16: Strategic Changes Related to COVID-19
Strategic Changes Related to COVID-19 Given the uncertainty around the impact and length of COVID-19, like most companies we are proactively reducing our expense structure § Decreasing expenses related to BIJUVA and areas not contributing to near-term revenue ‒Decreasing the expense base related to
Slide 17: COVID-19 Strategic Changes Related to Revenue
COVID-19 Strategic Changes Related to Revenue § We continue to believe in the long-term trajectory of our portfolio; however, due to COVID-19 we don’t have complete visibility in the short-term § Currently regaining access to doctors’ offices in lock step as the states reopen ‒Currently operating in
Slide 18: Corporate Wide Cost Reductions in Total Operating Expenses
Corporate Wide Cost Reductions in Total Operating Expenses § 1Q20 operating expense of $57.5M1 § One-time expenses of $5M due to ANNOVERA training and launch § Expect 2Q20 total operating expenses to be $10-$12M lower than 1Q20 § Defer $10M in marketing spend primarily related to media § Expect aver
Slide 19: Update to TPG Sixth Street Loan Covenants
Update to TPG Sixth Street Loan Covenants § Due to the uncertainty created by COIVD-19 and its impact on our business, TXMD has been in discussions with Sixth Street Partners regarding the revenue covenants in the loan document § We are working with Sixth Street to defer the scheduled start of the q
Slide 20: Plan to Regain Momentum Post-COVID
Plan to Regain Momentum Post-COVID 19
Slide 21: ANNOVERA: Well Positioned for Fast Uptake When Full Plans Deployed
ANNOVERA: Well Positioned for Fast Uptake When Full Plans Deployed Contraception: Largest Full Sales Force Plans and Broad Availability will Women’s Health Category Consumer Advertising Allow Growth Across will Quickly Accelerate Contraception Channels at $5B Ramp § ~500,000 U.S. prescribers 1Q20 Ef
Slide 22: ANNOVERA Compelling Now and Post COVID-19
ANNOVERA Compelling Now and Post COVID-19 § One year’s worth of protection § Good substitute for elective procedures are not happening for women that want a long- lasting option or do not want a procedure § Covers you for a year even if your insurance situation changes § ~77% of patients have $0 co-
Slide 23: ANNOVERA Update of Patent Strategy
ANNOVERA Update of Patent Strategy § On April 28, 2020, the USPTO issued the first Orange Book listable patent for ANNOVERA ‒US Patent No 10,632,066 will expire February 2039 ‒On March 29, 2020, TherapeuticsMD filed FDA Form 3542 to have the ‘066 patent listed in the Orange Book ‒The ‘066 patent cla
Slide 24: IMVEXXY Continues to Gain Momentum
IMVEXXY Continues to Gain Momentum IMVEXXY is the fastest growing product in the VVA market and share gains vs. Premarin GROWTH PERCENTAGE YEAR OVER YEAR 40% IMVEXXY - March 10.8% market share of TRx 31.75% - Support of high writer base and 30% expansion of productive writers ESTRACE B&G - New write
Slide 25: BIJUVA Targeted Focus Until 0.5/100 Launch is Funded in 2021
BIJUVA Targeted Focus Until 0.5/100 Launch is Funded in 2021 § Focus on current writer base through remainder of 2020 § Non-personal promotion § Focus on current Bio-ignite partners § Compounding pharmacists report that they would recommend BIJUVA for 1/3 of their estradiol and progesterone (E+P) pa
Slide 26: Q&A
Q&A Prenatal Vitamins CONTRACEPTION/ DYSPAREUNIA PRENATAL VASOMOTOR CONTRACEPTION FAMILY PLANNING - (Vulvar & Vaginal CARE SYMPTOMS PERIMENOPAUSE Atrophy) REPRODUCTIVE HEALTH MENOPAUSE MANAGEMENT 26
Slide 27: 1Q20 Key Metrics: ANNOVERA
1Q20 Key Metrics: ANNOVERA 1Q 2020 4Q 2019 ANNOVERA Full Launch Month Net Revenue ~$2.3M ~$5.8M Interrupted by COVID-19 M O N T H LY TRx TRx to patients 2,361 1,095 COVID-19 Impact/ Average Net $1,350 $1,350 1000 966 Paused Launch Revenue / Unit 900 # Prescribers w/ TRx 1,140 540 800 724 700 671 600
Slide 28: 1Q Key Metrics: IMVEXXY
1Q Key Metrics: IMVEXXY 1Q 2020 4Q 2019 IMVEXXY TRx Net Revenue ~$6.4M ~$6.35M M O N T H LY TR x TRx to patients 134,000 123,300 50 46.25 Average Net Revenue $48 $51 43.89 44.27 / Unit 40 # Prescribers w/ TRx 17,000 16,500 30 Thousands § Patient demand increased Q over Q § Not as heavily impacted by
Slide 29: 1Q Key Metrics: BIJUVA
1Q Key Metrics: BIJUVA 1Q 2020 4Q 2019 BIJUVA TRx Continued to Ramp Net Revenue ~$1.1M ~$1.2M Throughout the Quarter TRx to patients ~26,000 ~21,600 M O N T H LY TR x Average Net Revenue $43 $56 10 9.62 / Unit 8.43 8.92 # Prescribers w/ TRx 5,000 5,500 8 Thousands 6 § Overall adjudication rate Q1: ~
Slide 30: Strengthened Board with New Independent Directors
Strengthened Board with New Independent Directors TXMD added 3 experienced, diverse, independent, health care industry veterans Karen Ling Paul Bisaro Gail Naughton §Ms. Ling is an accomplished §Mr. Bisaro is an accomplished global §Dr. Naughton is an accomplished life executive with 25 years experi