Therapeuticsmd, Inc. · NASDAQ:TXMD
Therapeuticsmd — Q3 2020 Earnings Presentation
37 slides from Therapeuticsmd's earnings presentation, Nov 9, 2020
Slide 1: 3Q 2020 Earnings
3Q 2020 Earnings November 9, 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: 3Q 2020 and Recent Highlights
3Q 2020 and Recent Highlights Increased net revenue across product portfolio from 2Q20 to 3Q20 ✓ Total net revenue increased 80% from 2Q20 to ~$19.3M in 3Q20 ✓ Net revenue per unit held or improved Reestablished growth in new prescriptions (NRx) and total prescriptions (TRx) from 2Q20 to 3Q20 ✓ ANNO
Slide 5: 3Q20 Financial Overview
3Q20 Financial Overview FOR INVESTOR PRESENTATION PURPOSES ONLY. 5
Slide 6: Quarterly Net Revenue Trends
Quarterly Net Revenue Trends Quarterly Net Revenue $20 $19.3 3Q20 Highlights $18 § Overall Net Revenue from Products $16 increased 62% quarter over quarter: $14 80% § ANNOVERA increased ~250% $12 § Average net revenue per unit ~$1,339 Millions $10.7 $10 § IMVEXXY increased ~35% $8 § Average net reve
Slide 7: Financial Results: Comparison 3Q 2020 to 2Q 2020
Financial Results: Comparison 3Q 2020 to 2Q 2020 Comparison of Key Financial Statement Items [in 1,000’s] Increase § Gross Margin returned to normal level of ~81% 3Q20 2Q20 (Decrease) Balance Sheet § Operating expenses, excluding non-cash items, Cash $79,634 $113,839 ($34,205) decreased $11M from $4
Slide 8: Potential vitaCare Divesture
Potential vitaCare Divesture § vitaCare makes a complex process of filling prescriptions simple, cost-effective, and stress free for patients § In recent months, COVID-19 has highlighted the value of pharmaceutical companies being able to connect directly with patients § This in combination with the
Slide 9: Payor Progress
Payor Progress FOR INVESTOR PRESENTATION PURPOSES ONLY. 9
Slide 10: Payor Progress: Maintained all major payors across product portfolio
Payor Progress: Maintained all major payors across product portfolio Coverage 3Q20 4Q20 November 1, 2020 Progress Progress § CVS Caremark added ANNOVERA Commercial 62% UR, 74%(1) at non-preferred coverage in Aug § Medi-Cal added ANNOVERA as of Nov 1st for Fee for Service lives Medicaid 57%(2) (2.1M
Slide 11: Payor Progress and Birth Control State Laws Supporting Low Out of Pocket Cost
Payor Progress and Birth Control State Laws Supporting Low Out of Pocket Cost § ANNOVERA costs the same or less than the generic for NuvaRing on an annual basis(1) 80% Patient Cost # of Patients % of Patients of our vitaCare $0 1434 79.67% ANNOVERA $1-60 299 16.61% patients paid 80% $61-100 33 1.83%
Slide 12: ANNOVERA Market Share Shift
ANNOVERA Market Share Shift Gained preferred coverage with one of the top pharmaceutical benefit managers (PBM) with ~20% of commercial lives effective Jan 1st: § For the contraceptive class, ANNOVERA will be the preferred branded contraceptive vaginal ring agent § NuvaRing® excluded from formulary
Slide 13: IMVEXXY Market Share Shift
IMVEXXY Market Share Shift Gained preferred coverage with one of the top pharmaceutical benefit managers (PBM) with ~20% of commercial lives effective Jan 1st: § For the VVA class, IMVEXXY will be the only branded agent on formulary § Premarin Cream®, Intrarosa®, Osphena® and Estring® all excluded f
Slide 14: COVID-19 Reality
COVID-19 Reality FOR INVESTOR PRESENTATION PURPOSES ONLY. 14
Slide 15: Sales Force Ability to Connect with Prescribers is Increasing but still Significantly Down
Sales Force Ability to Connect with Prescribers is Increasing but still Significantly Down from Pre-COVID Levels Trend of Salesforce Reach and Frequency from Baseline Average Reach to Targets Average Frequency to Targets 5% 3% Baseline -5% (4Q19) -2% -15% -25% -19% -19% -35% -45% -44% -55% -49% Base
Slide 16: Approach to Managing Business with Less Prescriber Access
Approach to Managing Business with Less Prescriber Access Consumer Marketing to Drive Patient Requests Channels that Support Patient Requests Virtual Virtual Detailing Detailing andand Programs Medical if Access Education or Time is Limited Programs Prescriber Surround Sound Education to keep TXMD B
Slide 17: Key Performance Metrics for Portfolio
Key Performance Metrics for Portfolio FOR INVESTOR PRESENTATION PURPOSES ONLY. 17
Slide 18: ANNOVERA Prescriptions Filled by Patients Grew Over 100% from 2Q20 to 3Q20
ANNOVERA Prescriptions Filled by Patients Grew Over 100% from 2Q20 to 3Q20 Quarterly TRx ANNOVERA 3Q20 Performance Drivers 5500 § Activated full launch plan with consumer campaign in July 5,160 § Access to prescribers improving for sales force since 5000 maximum impact in May, but still well below p
Slide 19: Continued to Expand the Base of Writers for ANNOVERA Despite COVID-19
Continued to Expand the Base of Writers for ANNOVERA Despite COVID-19 Quarterly Increase in ANNOVERA Writers ANNOVERA Quarterly Writer Trends 2500 2,400 § Percentage of writers with more than one fill increased 2000 to 42% from 32% 3Q20 over 118% 2Q20 1500 1,100 § Repeat writers from 2Q20 1000 doubl
Slide 20: ANNOVERA Approach to Revenue Growth: Start with the Consumer
ANNOVERA Approach to Revenue Growth: Start with the Consumer 60% of women in this category Physicians will Prescribe to know the birth control method they Majority who ask for want before seeing their ANNOVERA(2) Healthcare Professional making Would Prescribe Direct to If eligible patients were to a
Slide 21: Anchors to Consumer Campaign Building Momentum
Anchors to Consumer Campaign Brand Awareness Access Education Unapologetically ANNOVERA campaign over 9.2M views on YouTube 21 publications in top tier trade with over 400+M impressions Influencer Campaign in Q4 and Celebrity Telehealth responsible for 17% Insertion and removal video spokesperson an
Slide 22: Anchors to Prescriber Initiatives
Anchors to Prescriber Initiatives Field Force Promotion Brand Awareness Peer to Peer Engagement 80% of Prescribers felt the Owned and Operated Campaign was relevant and 33 virtual speaker programs Sales force promoting motivating1 Over 500+ attendees to date ANNOVERA in primary position Media effort
Slide 23: Patient Satisfaction and Low Out of Pocket Cost Leads to Strong Refill Rates
Patient Satisfaction and Low Out of Pocket Cost for Patients Leads to Strong Refill Rates: Intent to refill high in 1,036 women: Phase 3 acceptability study(1) Very high Intent to § After 1 year of use: Refill in Phase 3 75% of the women indicated that they would 85% of the women indicated that they
Slide 24: Secondary Channels Designed to Amplify Growth for ANNOVERA in 2021
Secondary Channels Designed to Amplify Growth for ANNOVERA in 2021 Secondary Channels Supplement TherapeuticsMD Sales Force ~135 Reps and Managers Delivering our Current ANNOVERA Volume 18.8M women on birth control annually Medicaid market US Military market Telemedicine Platforms ~15% of all ~3% of
Slide 25: IMVEXXY TRX Growth Following Rebound of NRX
IMVEXXY TRX Growth Following Rebound of NRX IMVEXXY Quarterly IMVEXXY Performance Weekly NRx IMVEXXY 3Q20 Performance Drivers TRx NRx § Activated “Sex Care is Self Care” consumer campaign in August 135 35 § Access to prescribers improving for sales force since maximum 130.8 33.0 impact in May, but s
Slide 26: Build a Strong Q4 Close for IMVEXXY Leveraging Prescriber Engagement, Access and Consumer Activation
Build a Strong Q4 Close for IMVEXXY Leveraging Prescriber Engagement, Access and Consumer Activation § Sex Care is Self Care Campaign Full display launch + Social + Search + In pharmacy Consumer Activation § Increased MOA Video distribution via YouTube, Teads and Women’s Interest sites § Facebook Pr
Slide 27: BIJUVA Volume Increased with Bio-Ignite Focus
BIJUVA Volume Increased with Bio-Ignite Focus BIJUVA Quarterly Performance BIJUVA 3Q20 Performance Drivers TRx NRx 35 8 § Targeted approach with supporting Bio-Ignite to maintain 7.6 brand loyalists with 7 sales representatives 32.0 § Access to prescribers improving for sales force since 7 maximum i
Slide 28: NASEM Report
NASEM Report National Academies of Science, Engineering and Medicine (NASEM) § Report commissioned by FDA and published on July 1, 2020 to gain independent analysis of the safety and public health risk related to compounded bio-identical hormones (cBHRT) § NASEM recommendations for stronger regulati
Slide 29: Closing Remarks
Closing Remarks Prenatal Vitamins CONTRACEPTION/ DYSPAREUNIA PRENATAL FAMILY PLANNING - VASOMOTOR (Vulvar & Vaginal CONTRACEPTION CARE SYMPTOMS PERIMENOPAUSE Atrophy) REPRODUCTIVE HEALTH MENOPAUSE MANAGEMENT FOR INVESTOR PRESENTATION PURPOSES ONLY. 29
Slide 30: 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. 30
Slide 31: Appendix
Appendix FOR INVESTOR PRESENTATION PURPOSES ONLY. 31
Slide 32: Reported Prescription Volume for TherapeuticsMD Products
Reported Prescription Volume for TherapeuticsMD Products • TherapeuticsMD’s continues to see growing trends in orders from wholesalers, retail pharmacies, online telemedicine pharmacies and our secondary channels (internal data) for all of our FDA approved products. • The trend in these sales to who
Slide 33: vitaCare Makes Complex Filling of Prescription Simple, Cost Effective and Stress Free
vitaCare Makes Complex Filling of Prescription Simple, Cost Effective and Stress Fee for Patients Divestiture can unlock substantial value for our shareholders q Events of COVID-19 highlighted the value of pharmaceutical companies being able to connect directly with patients. q Recent rise of intere
Slide 34: vitaCare Empowers Manufacturers to Manage their Product with Precision
vitaCare Empowers Manufacturers to Manage their Product with Precision that Reaches Each Script Received Manufacturers can now manage their business at the pharmacy transaction level. Real-time pharmacy transaction and business intelligence data is now available to the manufacturer. Manufacturers no
Slide 35: ANNOVERA Refills: Illustrative Power of Increased Refill Rates
ANNOVERA Refills: Illustrative Power of Increased Refill Rates Illustrative ANNOVERA Net Revenue Opportunity at Year 5 Focus on refills is a Key Assumptions for Model Below TherapeuticsMD core Assumes consistent 100,000 patients start on ANNOVERA each year (1-5 year) competency Net Revenue Per Unit
Slide 36: ANNOVERA Opportunity is to Disrupt the Category with a "No Compromise" Option
ANNOVERA Opportunity is to Disrupt the Category with a “No Compromise” Option % of women using prescription ANNOVERA is differentiated as it is patient-controlled, contraception by method procedure-free and long-lasting 18.8 Million women(1) Ring Patch Injectable 4% 1% 8% Patient- controlled ü ü Imp
Slide 37: ANNOVERA Patient Types
ANNOVERA Patient Types § Broad based product – a single contraceptive product for most patient and prescriber types • Benefits for the diversity of women – supports patient preference • Amenable to women of broad ages and demographics • Available to all prescribers – no special training, equipment,