Therapeuticsmd, Inc. · NASDAQ:TXMD
Therapeuticsmd — Q1 2021 Earnings Presentation
34 slides from Therapeuticsmd's earnings presentation, May 6, 2021
Slide 1: Building the Premier Women's Health Company 1Q 2021 Earnings
Building the Premier Women’s Health Company 1Q 2021 Earnings May 6, 2021 Exhibit 99.2
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: Summary of Q1 Performance
Summary of Q1 Performance Strong execution in the first quarter aligned with operating plan to drive shareholder value ANNOVERA Remains #1 priority in portfolio Refined commercial strategies to address both short and long-term impacts from COVID-19 New patents improve durability and exclusivity to J
Slide 4: 1Q21 Financial Overview
TherapeuticsMD . 2 1Q21 Financial Overview
Slide 5: Quarterly Net Revenue Trends
Quarterly Net Revenue Trends Millions 1Q21 Highlights Total net product revenue increased 60% 1Q21 vs 1Q20 ANNOVERA net revenue increased 285% Average net revenue per unit $1,071(1) IMVEXXY net revenue increased 10% Average net revenue per unit $61(1) BIJUVA net revenue increased 120% Average net re
Slide 6: Financial Results: Comparison 1Q 2021 to 4Q 2020 and 1Q 2020
Financial Results: Comparison 1Q 2021 to 4Q 2020 and 1Q 2020 Reduced debt to $184M by a $50M cash payment Gross Margin of 76% Impacted by write-offs of production related costs for ANNOVERA of $0.9M Reduced operating expenses by $16M to $44.5M as compared to 1Q20 Net cash used in operating activitie
Slide 7: ANNOVERA: Unique Opportunity to Create a New Segment within Birth Control
ANNOVERA: Unique Opportunity to Create a New Segment within Birth Control
Slide 8: ANNOVERA TRX: Continued Growth Through COVID-19
ANNOVERA Quarterly TRx Source: Prescription data per Symphony Health PHAST Data. ANNOVERA TRX: Continued Growth Through COVID-19 1Q21 Key Metrics 164% YOY and 5% QOQ TRx growth Net revenue per unit at $1,071 Expect annual net revenue per unit to average ~$1,100 for the year ~17% increase in prescrib
Slide 9: ANNOVERA Creating a New Procedure Free Long-Acting Segment
ANNOVERA Creating a New Procedure Free Long-Acting Segment New messaging focuses on long-acting procedure free alternative to IUD is attracting previous IUD users Q4 2020 Q1 2021 Oral Contraception 22% 22% NuvaRing & Generics 53% 43% Injection/Patch 13% 11% IUD/Implant 8% 18% New to Birth Control 5%
Slide 10: Payor Update: Progress In Spite of Express Scripts Formulary Removal
Payor Update: Progress In Spite of Express Scripts (ESI) Formulary Removal Coverage April 21, 2021 Commercial 57% UR, 66%(1) Medicaid 56%(2) Department of Defense On Formulary Commercial 75% Part D 37%+(3) Commercial 78% Note: (1) 66% covered with prior authorization (PA) / step edit; UR=unrestricte
Slide 11: Prescriber Access Still an Ongoing Challenge, but COVID-19 Headwinds Beginning to Recede
Prescriber Access Still an Ongoing Challenge, but COVID-19 Headwinds Beginning to Recede HCPs believe in-person visit volume may double from current levels within a year, but a sizeable gap to pre-COVID levels will continue TXMD access currently at 40%: Successfully supplementing access with innovat
Slide 12: NRx Trend of Recently Launched Mass Market Product Volumes
NRx Trend of Recently Launched Mass Market Product Volumes Symphony Health National Level Data. All trademarks are property of their respective owners. Brand Name Indication Mar-21 Feb-21 Jan-21 Dec-20 ANNOVERA Contraception - TXMD 2,145 1,724 1,770 1,728 Phexxi Contraception 4,282 2,446 1,819 1,612
Slide 13: COVID-19 challenges have created a faster shift to technology solutions
COVID-19 challenges have created a faster shift to technology solutions Increasing breadth of telemedicine solutions and services for patients Digital allows for fast data, learning and adaptation Capability built across organization in change management "Fast" pilot, pivot, production COVID-19 Cons
Slide 14: ANNOVERA's Attributes Create Significant Interest, but Access Remains Difficult
ANNOVERA's Attributes Create Significant Interest with Consumers, but Access to Patients Remains Difficult ANNOVERA consumer campaign drove over 2M visitors to the website from July 2020-March 2021 *Reflects single-source data transformed to reflect full digital business from July 2020 to March 2021
Slide 15: Goal: Translate Significant Interest into Increased Consumers that can Access ANNOVERA
Goal: Translate Significant Interest into Increased Consumers that can Access ANNOVERA ANNOVERA Campaigns Drive High level of Interest Latest round of banner ads are double the industry benchmark (.19%) Vagina Appreciation Day PR event drove a 380% increase in organic search and drove a 35% increase
Slide 16: Goal: Increase Breadth of Options for Consumers to Access ANNOVERA
Goal: Increase Breadth of Options for Consumers to Access ANNOVERA Opportunity to help more women who choose to get ANNOVERA online Website enhancements that provide clear information on how to “take action” Increased breadth of options to “Get ANNOVERA” Talk to a doctor now Fill out information to
Slide 17: Goal: Improve Rate of those that Receive a Prescription
Goal: Improve Rate of those that Receive a Prescription Telehealth improving each quarter: 30% increase in prescriptions from telehealth quarter over quarter, the fastest growing channel for ANNOVERA Increase dependent on breadth of options and efficiency of the process In Q1, pilot programs demonst
Slide 18: Goal: Increase the Fill Rate Once a Prescription is Written
Goal: Increase the Fill Rate Once a Prescription is Written Solution: Use of vitaCare to support patients receiving an ANNOVERA Prescription Launched April 13th Opportunity to increase from ~45% Reasons for drop off are cost/coverage issues Industry fill rate average is ~50% With vitaCare support, b
Slide 19: ANNOVERA Solutions to Grow Access to Patients
ANNOVERA Solutions to Grow Access to Patients Continue on the path we are on today with a combination of our consumer campaign and public relations events Website enhancements that provide clearer guidance on how to "take action" Increase breadth of options for a patient to access a healthcare provi
Slide 20: ANNOVERA's exclusivity position has significantly improved over the last 12 months
ANNOVERA’s exclusivity position has significantly improved over the last 12 months Three new patent issuances in 2021 that offer improved strategic value and durability Further patent work is on-going Six patents listed in the Orange Book Most recent patents extend patent exclusivity from February o
Slide 21: IMVEXXY: Fastest Growing Branded Product in Vulvar and Vaginal Atrophy Category
IMVEXXY: Fastest Growing Branded Product in Vulvar and Vaginal Atrophy Category
Slide 22: IMVEXXY Performance Drivers
IMVEXXY Performance Drivers Source: Prescription data per Symphony Health PHAST Data. IMVEXXY Weekly NRx Thousands IMVEXXY Quarterly Performance IMVEXXY 1Q21 Performance IMVEXXY volume trends across the past year aligned with VVA market Loss of TRx Q1 vs. Q4 due to cash pay shift 1Q historically low
Slide 23: 2021 IMVEXXY Strategic Initiatives: Status Update
2021 IMVEXXY Strategic Initiatives: Status Update IMVEXXY Weekly TRx As expected, short-term impact on volume Jan 1st Cash Pay Changed to $75 IMVEXXY back to strong growth post cash pay change Realize Higher Net Pricing Data Source: Prescription data per Symphony Health PHAST Data.
Slide 24: IMVEXXY Net Price Build Shows Improvement
IMVEXXY Net Price Build Shows Improvement Jan 1st Cash Pay Changed to $75 1 Average net revenue per unit calculated based on units sold to wholesalers and pharmacies divided into net revenue for the quarter. Effective 1Q20, this reflects a change in methodology from previous “calculated net revenue
Slide 25: IMVEXXY Consumer Campaign, Reign Launched April 26th
REIGN YOU TUBE Quant (% Based on all Respondents) Audio and video cannot be skipped for 5 seconds Once engaged, most remain 29 = 19% IMVEXXY Campaign Quantitative Test, N=150, Oct. 2020 August-September 2020 Results. Display CTR 0.08% CTR: Click through rate. VCR: Video Completion Rate 1 in 4 1 in 5
Slide 26: BIJUVA: First and Only FDA-Approved Bio-Identical Solution in VMS Market
BIJUVA: First and Only FDA-Approved Bio-Identical Solution in Vasomotor Symptoms (VMS) Market
Slide 27: BIJUVA Volume Increased YoY with Limited Focus
Thousands Source: Symphony Data Source: Prescription data per Symphony Health PHAST Data. BIJUVA Quarterly Performance BIJUVA Volume Increased YoY with Limited Focus BIJUVA 1Q21 Trends Loss of TRx due to copay shift that is now rebounding ~3% increase in prescribers writing a prescription in 1Q21 co
Slide 28: BIJUVA 0.5 mg/100 mg - Update
BIJUVA 0.5 mg/100 mg - Update Formal Dispute Resolution Request granted by FDA APPEAL GRANTED “Study TXC12-05 has provided sufficient data for approval of the 0.5 mg/100 mg dose of Bijuva” “Sufficient evidence from other data provided in your original NDA” Type B meeting scheduled on 05/12/2021 to d
Slide 29: Key Takeaways
Key Takeaways Improved cash position Lowered debt by $50M Increased revenue growth while significantly lowering operating expenses by $16.0M YOY Record nets per unit for menopausal products vitaCare process continues and strong execution enhances divesture value TXMD performance aligned with 2021 op
Slide 30: Q&A
Q&A <> BY UV Aisi (trail and progesterone) capsules FOR INVESTOR PRESENTATION PURPOSES ONLY.
Slide 31: Appendix
Appendix <> BY UV Aisi (trail and progesterone) capsules TherapeuticsMD” FOR INVESTOR PRESENTATION PURPOSES ONLY.
Slide 32: Leading Indicator of Potential Future Growth: ANNOVERA Writers Continue to Grow
Leading Indicator of Potential Future Growth: ANNOVERA Writers Continue to Grow Growth across all categories of targets that are sales force driven Growth across non-targets that are marketing driven Key Takeaways
Slide 33: ANNOVERA Goal: Become a New Segment in Birth Control
ANNOVERA Goal: Become a New Segment in Birth Control Daily Weekly Monthly 3-10 Years Annual, Procedure Free SHORT-ACTING LONG-ACTING 3 mo. injection Short-Acting Decline –4.2% CAGR(1) 1 Year Long-Acting Growth +15% CAGR(1) Note: (1) Based on company filings. Market Void
Slide 34: Goal: Supplement Reach and Frequency of Salesforce to Providers
Goal: Supplement Reach and Frequency of Salesforce to Providers through Innovative Programs Fireside Chats: Deep Dives on ANNOVERA by qualified Healthcare Providers in conjunction with a sales representative Since inception in Q4, ~500 events conducted 845 unique HCP attendees 14 self-scheduled even