TherapeuticsMD Announces Second Quarter 2024 Financial Results
TherapeuticsMD (NASDAQ: TXMD) reported its Q2 2024 financial results. The company, which owns pharmaceutical royalty rights, saw a net loss from continuing operations of $1.05 million ($0.09 per share), an improvement from the $2.4 million loss in Q2 2023. License revenue decreased by 46.5% to $234,000, primarily due to changes in sales of licensed products. Total operating expenses decreased by 8.1% to $2.7 million, reflecting cost optimization efforts. The company's cash and cash equivalents stood at $5.2 million as of June 30, 2024. TherapeuticsMD is currently evaluating strategic alternatives, including potential acquisitions, mergers, or asset sales.
TherapeuticsMD (NASDAQ: TXMD) ha riportato i risultati finanziari del secondo trimestre del 2024. L'azienda, che detiene i diritti sulle royalties farmaceutiche, ha registrato una perdita netta dalle operazioni continuative di 1,05 milioni di dollari (0,09 dollari per azione), in miglioramento rispetto alla perdita di 2,4 milioni di dollari nel secondo trimestre del 2023. I ricavi da licenza sono diminuiti del 46,5% a 234.000 dollari, principalmente a causa delle variazioni nelle vendite di prodotti concessi in licenza. Le spese operative totali sono diminuite dell'8,1% a 2,7 milioni di dollari, riflettendo gli sforzi di ottimizzazione dei costi. Il capitale e le disponibilità dell'azienda ammontavano a 5,2 milioni di dollari al 30 giugno 2024. TherapeuticsMD sta attualmente valutando alternative strategiche, comprese potenziali acquisizioni, fusioni o vendite di asset.
TherapeuticsMD (NASDAQ: TXMD) informó sus resultados financieros del segundo trimestre de 2024. La compañía, que posee derechos de regalías farmacéuticas, registró una pérdida neta de operaciones continuas de 1,05 millones de dólares (0,09 dólares por acción), una mejora frente a la pérdida de 2,4 millones de dólares en el segundo trimestre de 2023. Los ingresos por licencias disminuyeron un 46,5% a 234.000 dólares, principalmente debido a cambios en las ventas de productos licenciados. Los gastos operativos totales disminuyeron un 8,1% a 2,7 millones de dólares, reflejando esfuerzos de optimización de costos. El efectivo y equivalentes de efectivo de la compañía se situaron en 5,2 millones de dólares al 30 de junio de 2024. TherapeuticsMD está evaluando actualmente alternativas estratégicas, incluyendo posibles adquisiciones, fusiones o ventas de activos.
TherapeuticsMD (NASDAQ: TXMD)는 2024년 2분기 재무 결과를 발표했습니다. 제약 로열티 권리를 보유한 이 회사는 지속 운영으로 인한 순손실이 105만 달러 (주당 0.09달러)로, 2023년 2분기 240만 달러의 손실보다 개선되었습니다. 라이센스 수익은 46.5% 감소하여 234,000 달러에 이르렀으며, 이는 주로 라이센스 제품의 판매 변화 때문입니다. 총 운영 비용은 8.1% 감소하여 270만 달러로, 비용 최적화 노력을 반영합니다. 2024년 6월 30일 기준으로 회사의 현금 및 현금성 자산은 520만 달러에 달했습니다. TherapeuticsMD는 현재 잠재적 인수, 합병 또는 자산 매각을 포함한 전략적 대안을 평가하고 있습니다.
TherapeuticsMD (NASDAQ: TXMD) a publié ses résultats financiers du deuxième trimestre 2024. L'entreprise, qui possède des droits de redevances pharmaceutiques, a enregistré une perte nette des opérations continues de 1,05 million de dollars (0,09 dollar par action), une amélioration par rapport à la perte de 2,4 millions de dollars au deuxième trimestre 2023. Les revenus de licence ont diminué de 46,5% pour atteindre 234 000 dollars, principalement en raison de changements dans les ventes de produits sous licence. Les dépenses d'exploitation totales ont diminué de 8,1% pour s'élever à 2,7 millions de dollars, reflétant les efforts d'optimisation des coûts. La trésorerie et les équivalents de trésorerie de l'entreprise s'élevaient à 5,2 millions de dollars au 30 juin 2024. TherapeuticsMD évalue actuellement des alternatives stratégiques, y compris d'éventuelles acquisitions, fusions ou ventes d'actifs.
TherapeuticsMD (NASDAQ: TXMD) hat die Finanzergebnisse für das zweite Quartal 2024 veröffentlicht. Das Unternehmen, das Rechte an pharmazeutischen Lizenzgebühren besitzt, verzeichnete einen Nettoverlust aus fortgeführten Aktivitäten von 1,05 Millionen Dollar (0,09 Dollar pro Aktie), eine Verbesserung gegenüber dem Verlust von 2,4 Millionen Dollar im zweiten Quartal 2023. Die Lizenz Einnahmen sanken um 46,5% auf 234.000 Dollar, hauptsächlich aufgrund von Veränderungen bei den Verkäufen lizenzierten Produkten. Die Gesamtausgaben sanken um 8,1% auf 2,7 Millionen Dollar, was die Kostenoptimierungsbemühungen widerspiegelt. Zum 30. Juni 2024 belief sich die Liquidität des Unternehmens auf 5,2 Millionen Dollar. TherapeuticsMD prüft derzeit strategische Alternativen, einschließlich möglicher Übernahmen, Fusionen oder Vermögensverkäufe.
- Net loss from continuing operations improved from $2.4 million in Q2 2023 to $1.05 million in Q2 2024
- Total operating expenses decreased by 8.1% to $2.7 million, reflecting successful cost optimization efforts
- License revenue decreased by 46.5% to $234,000 compared to Q2 2023
- The company recognized a patent impairment in Q2 2024
- TherapeuticsMD is evaluating strategic alternatives, indicating potential uncertainty about its current business model
Insights
TherapeuticsMD's Q2 2024 results reveal a mixed financial picture. The company's net loss narrowed to
The reduction in operating expenses by
TherapeuticsMD's transition to a royalty-based business model appears to be struggling to gain traction. The
The ongoing evaluation of strategic alternatives, including potential mergers or asset sales, suggests the current business model may not be sustainable. Investors should closely monitor any announcements regarding these strategic options, as they could significantly impact the company's future direction and valuation. The lack of a set timetable for this process adds uncertainty to the company's near-term prospects.
Second Quarter 2024 Financial Results
Net Income (Loss) from Continuing Operations
-
Net loss from continuing operations was
$(1.05) million $(0.09) $(2.4) million $(0.24)
License and Service Revenues from Continuing Operations
-
License revenue, primarily from the Mayne License Agreement, totaled
$234 thousand $203 thousand 46.5% , compared to$437 thousand
Total Operating Expenses from Continuing Operations
-
Total operating expenses for the second quarter of 2024 were
$2.7 million $235 thousand 8.1% , compared to the second quarter of 2023. This decrease was due to the further optimization of the Company’s business through the reduction of costs, following its transition to a royalty-based business, and is partially off-set by the patent impairment recognized in the second quarter of 2024.
Evaluation of Strategic Alternatives
- The Company continues to evaluate a variety of strategic alternatives that may include, but not be limited to, an acquisition, merger, other business combination, sale of assets, or other strategic transactions involving the Company. Although the Company is exploring potential strategic alternatives, there can be no assurance of a transaction, a successful outcome of these efforts, or the form or timing of any such outcome. The Company has not set a timetable for completion of this exploration process and does not intend to disclose further developments unless and until it is determined that disclosure is appropriate or necessary.
Balance Sheet
-
As of June 30, 2024, the Company’s cash and cash equivalents totaled
$5.2 million
About TherapeuticsMD
TherapeuticsMD was previously a women’s healthcare company with a mission of creating and commercializing innovative products to support the lifespan of women from pregnancy prevention through menopause. In December 2022, the Company changed its business to become a pharmaceutical royalty company, primarily collecting royalties from its licensees. The Company is no longer engaging in research and development or commercial operations.
Forward-Looking Statements
This press release by TherapeuticsMD, Inc. may contain forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to TherapeuticsMD’s objectives, plans and strategies, including the exploration of potential strategic alternatives that may include, but are not limited to, an acquisition, merger, other business combination, sale of assets, or other strategic transactions, and the completion of such a review process as well as statements, other than historical facts, that address activities, events or developments that the company intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,” “plans,” “will,” “expects,” “estimates,” “projects,” “positioned,” “strategy” and similar expressions and are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and the company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of the company’s control. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled “Risk Factors” in the company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, and include the following: whether the company’s licensees will be successful at commercializing the products that they licensed and acquired from TherapeuticsMD; whether the company is successful in winding down its operations and the costs associated therewith, including the company’s ability to obtain any additional financing necessary therefor and any adjustments to the net working capital purchased as part of the Mayne Pharma transaction; whether the company is successful in identifying strategic pathways to create additional shareholder value; the company’s ability to remain listed on Nasdaq; the impact of product liability lawsuits; the impact of leadership transitions; and the volatility of the trading price of the company’s common stock.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240812528540/en/
Marlan D. Walker
Chief Executive Officer
561-961-1900
IR@TherapeuticsMD.com
Lisa M. Wilson
In-Site Communications, Inc.
212-452-2793
lwilson@insitecony.com
Source: TherapeuticsMD, Inc.
FAQ
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