Therapeuticsmd, Inc. · NASDAQ:TXMD
Therapeuticsmd — Q4 2019 Earnings Presentation
26 slides from Therapeuticsmd's earnings presentation, Feb 20, 2020
Slide 1: 4Q 2019 Earnings
4Q 2019 Earnings F eb ru ary 20, 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” and “our”) 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 stateme
Slide 3: Today's Agenda
Today’s Agenda 2019 Review 2020 Commercial Strategy and Marketing Plans 4Q 2019 Financial Results 2020 Financial Guidance Q&A 3
Slide 4: Foundational Elements to Accelerate Revenue Growth 2020
Foundational Elements to Accelerate Revenue Growth 2020 Portfolio Awareness Broad Payor Access New Distribution & Education Channels Puerto Rico VA/Military Public Health All trademarks are the property of their respective owners. 4
Slide 5: Net Revenue Actual vs Guidance
Net Revenue Actual vs Guidance Net Revenue Actual vs Guidance Net Revenue by Product $15,901,680 $5,766,604 $8,213,341 $399,952 $6,347,301 $6,078,865 $13,000,000 $4,772,354 $1,211,456 $490,705 $7,500,000 $5,500,000 $2,550,330 $2,576,319 Q2 2019 Q3 2019 Q4 2019 Q3 2019 Q4 2019 Guidance - Midpointe Hi
Slide 6: Significant Payor Coverage and Growing
Significant Payor Coverage and Growing Coverage Today Target Coverage February 20, 2020 Year-end 2020 ANNOVERA Commercial 75%* 80%* IMVEXXY Commercial 72% 75% Part D 29% 70% BIJUVA Commercial 56% 75% Awaiting IMVEXXY Part D decisions from Humana, Wellcare and ESI; potential total unrestricted covera
Slide 7: Product Overview & Commercial Updates
PRODUCT OVERVIEW & COMMERCIAL UPDATES
Slide 8: 3 Products in Launch Mode
3 Products in Launch Mode Shifted from a clinically innovative company to a commercially successful company Q3 2018 Q2 2019 Q1 2020 COMMERCIAL LAUNCHES 8
Slide 9: Sales Force Redeployed to Provide More Effective Portfolio Coverage
Sales Force Redeployed to Provide More Effective Portfolio Coverage 150 Women’s Healthcare Specialists 30-40 Menopause Specialists 1 2 3 1 2 9
Slide 10: ANNOVERA – Patient-Controlled and Procedure-Free Long-Lasting Contraception
ANNOVERA – Patient-Controlled and Procedure-Free Long-Lasting Contraception* Implant IUDs Long-acting benefits but ANNOVERA® Long-acting benefits but requires a procedure for both requires a procedure for both insertion and removal Long-Lasting,* Reversible, insertion and removal Patient-Controlled,
Slide 11: ANNOVERA Growth Levers
ANNOVERA Growth Levers Lead Product for Spend and Focus Consumer Advertising and Expand into New Channels Sales Force Focus Public Relations Effort and Populations § Full scale launch planned for § Focus on Empowerment and § Online Platforms including March 1st Control1,2 Pillpack, PlushCare, and Pi
Slide 12: IMVEXXY Investment Across Multiple Levers
IMVEXXY Investment Across Multiple Levers Sales Force §Promoted by all Sales Representatives §4,200 current heavy writers representing 20% of high volume VVA writers §Goal to increase depth of writing among 20,000 prescribers who have prescribed IMVEXXY Marketing §Increased overall funding §Heavier
Slide 13: BIJUVA Targeted Approach in 2020
BIJUVA Targeted Approach in 2020 Preparing for Full Launch in 2021 Menopause Specialist Targeted approach Potential Second Dose Deployment supporting BIO-IGNITE A dedicated team of sales reps and the TXMD BIO-IGNITE staff will focus their efforts to grow BIJUVA through BIO-IGNITE partners 163 pharma
Slide 14: Build out of Commercial Expertise
Build out of Commercial Expertise Commercial Leadership Team Chris Gish – Sales Lead Kristen Landon – Marketing Lead §Senior Sales Leader with 29 years of experience in §Women’s Health commercial leader with prior pharmaceutical sales leadership tenures at Allergan, Radius Health, and Sprout §Experi
Slide 15: Financial Update
FINANCIAL UPDATE TherapeuticsMD”
Slide 16: Net Revenue Actual vs Guidance
Net Revenue Actual vs Guidance Net Revenue Actual vs Guidance Guidance - Midpointe High End Net Revenue - Product Sales $15,901,680 $8,213,341 $6,078,865 $13,000,000 $7,500,000 $5,500,000 Q2 2019 Q3 2019 Q4 2019 16
Slide 17: Trend in Total Net Revenue and Calculated Net Revenue Per Unit
Trend in Total Net Revenue and Calculated Net Revenue Per Unit 54% CALCULATED IMVEXXY NET REVENUE PER UNIT Net Revenue by Product IMVEXXY OVERALL ADJUDICATION RATE Prenatal Vitamins BIJUVA $51 IMVEXXY 38% ANNOVERA 34% $35 IMVEXXY 26% $6,347,301 $29 IMVEXXY 21% $27 $4,772,354 15% $18 $15 Q3 2019 Q4 2
Slide 18: Trend in Total Net Revenue and Calculated Net Revenue Per Unit
Trend in Total Net Revenue and Calculated Net Revenue Per Unit CALCULATED BIJUVA NET REVENUE PER UNIT BIJUVA OVERALL ADJUDICATION RATE 60% Net Revenue by Product Prenatal Vitamins BIJUVA IMVEXXY 45% ANNOVERA $56 34% BIJUVA $1,211,456 $31 BIJUVA $29 $490,705 Q3 2019 Q4 2019 Q2 2019 Q3 2019 Q4 2019 *
Slide 19: ANNOVERA Net Revenue Actual
ANNOVERA Net Revenue Actual $5,766,604 $399,952 Q3 2019 Q4 2019 Prenatal Vitamins BIJUVA IMVEXXY ANNOVERA 19
Slide 20: Financial Summary
Financial Summary § Operating expenses – SG&A expenses § Net loss and basic & diluted per share 20
Slide 21: Cash Balance at End of Each Quarter
Cash Balance at End of Each Quarter with Equity Raise/Debt Funding Post Quarter End (Millions) Feb. 2020 Debt Oct. 2019 Financing Draw Equity Raise $50 $77 Quarter End Quarter End Cash Balance Cash Balance $155.33 $160.83 Q3 2019 Q4 2019 21
Slide 22: 2020 Cost Containment Measures
2020 Cost Containment Measures Goal to reinvest the savings into marketing initiatives Drive Net Revenues: Control Operating Expenses: § Invest appropriate financial resources to § Scrutinized internal cost structure and drive net revenue growth for our brands reduced spend on the following: § Non-r
Slide 23: 2020 Financial Guidance
2020 Financial Guidance Annual Net Revenue Guidance • Company projects 2020 net product revenue to be between $90M to $110M Key Assumptions: • Net product revenue during the second half of the year will be significantly larger than the first half with the majority coming from ANNOVERA and IMVEXXY •
Slide 24: 2020 Goals & Milestones
2020 Goals & Milestones • Full launch of ANNOVERA for TXMD’s sales force will begin on March 1st • Leverage new distribution channels to enter new markets that create additional revenue opportunity outside TXMD’s direct sales and marketing efforts • For IMVEXXY, goal is to pass the VVA branded leade
Slide 25: The Power of a Women's Health Portfolio
The Power of a Women’s Health Portfolio Prenatal Vitamins CONTRACEPTION/ DYSPAREUNIA PRENATAL VASOMOTOR CONTRACEPTION FAMILY PLANNING - (Vulvar & Vaginal CARE SYMPTOMS PERIMENOPAUSE Atrophy) REPRODUCTIVE HEALTH MENOPAUSE MANAGEMENT 25
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