TherapeuticsMD Announces Second Quarter 2020 Financial Results - 2Q20 total net product revenue of $10.7 million resilient despite COVID-19 pandemic - - ANNOVERA prescriptions increased approximatel

TherapeuticsMD, Inc. 8-K

Announces Second Quarter 2020 Financial Results

- 2Q20 total net product revenue of $10.7

million resilient despite COVID-19 pandemic -

- ANNOVERA prescriptions

increased approximately 100% for the eight weeks ended July 24, 2020 over the previous eight week period-

new prescriptions increased 33% for the eight weeks ended July 24, 2020 over the previous eight week period-

- Consumer campaign for ANNOVERA achieved

over 3 million unique views in first 30 days -

- Initial consumer marketing campaign for

IMVEXXY to be launched in August -

- Amended Sixth Street Partners revenue

covenants to reflect impact of COVID-19 pandemic -

- Conference call scheduled for 8:30 a.m.

August 6, 2020 - TherapeuticsMD, Inc. (NASDAQ: TXMD), an innovative, leading women's healthcare company, today

reported financial results for the second quarter ended June 30, 2020.

"Our organization made

significant progress in the second quarter while navigating the COVID-19 pandemic and its impact on our business," said Robert

G. Finizio, Chief Executive Officer of TherapeuticsMD. "We delivered a strong quarter of operational execution during very

unique circumstances, quickly reducing our operating expenses, reorienting our sales force, and addressing our credit facility

future minimum net revenue covenants. These strategic and operational changes

and our reshaped Board of Directors and management team are focused

on driving revenue and achieving our goal of reaching EBITDA break even in 2021, which we believe will result in long-term

Second Quarter Highlights

for the second quarter of 2020 was affected by the COVID-19 pandemic across all of our products.

sold increased $1.7 million for the second quarter of 2020 compared to the first quarter of 2020, as the result of a non-cash write-off

of $1.9 million primarily related to BIJUVA inventory obsolescence, partially offset by the impact of an overall decline in unit

sales. The charge is the result of the Company's reprioritization of selling resources to ANNOVERA and IMVEXXY along with

the impact of the COVID-19 pandemic on sales forecasts of BIJUVA for future quarters. This charge caused gross margin percentage

to decline from 78% for the quarter ended March 31, 2020 to 59% for the quarter ended June 30, 2020.

and Related Information

expenses decreased by $9.2 million to $51.3 million for the second quarter of 2020 as compared to $60.5 million for the first quarter

of 2020. The decrease in operating expenses was primarily a result of the Company's cost containment and spend-rebalancing

efforts to reduce overall spend in the remaining quarters of the 2020 fiscal year. For the remainder of 2020, spend will focus

on delivering the necessary resources to support the launch of ANNOVERA, continued ramp-up of IMVEXXY, and ongoing brand management

of BIJUVA. The second quarter of 2020 was impacted by $3.9 million in charges related to product samples expense as a result of

the Company's decision to reduce sampling of BIJUVA.

quarter ended June 30, 2020 decreased to $52.0 million, or $0.19 per basic and diluted share, compared with $56.8

million, or $0.21 per basic and diluted share, for the quarter ended March 31, 2020. Net loss per share for the

second quarter of 2020 was impacted by inventory and sample expense charges related primarily to BIJUVA of $0.02 per basic and

30, 2020, the Company's cash on hand totaled $113.8 million, compared with $170.1 million on March 31, 2020.

The decline in cash was due primarily to the net loss for the quarter ended June 30, 2020, less certain non-cash items, as well

as the timing of advertising, marketing, and social media campaigns for ANNOVERA that were incurred at the end of the quarter ended

March 31, 2020 and funded early in the quarter ended June 30, 2020. Total outstanding debt, net of issuance costs, was $243.8 million as

of June 30, 2020, compared to $243.4 million as of March 31, 2020. The change is due to the amortization

of debt discount of $400,000.

Sixth Street Additional Information

Conference Call and Webcast

TherapeuticsMD will host a conference

call and live audio webcast today at 8:30 a.m. ET to discuss these financial results and provide a business update.

A live webcast and audio archive for the

event may be accessed on the home page or from the "Investors & Media" section of the TherapeuticsMD website at

www.therapeuticsmd.com. Please connect to the website prior to the start of the presentation to ensure adequate time for any software

downloads that may be necessary to listen to the webcast. A replay of the webcast will be archived on the website for at least

30 days. In addition, a digital recording of the conference call will be available for replay beginning two hours after the call's

completion and for at least 30 days with the dial-in 855-859-2056 or international 404-537-3406 and Conference ID: 2963048.

Please see the Full Prescribing Information, including indication

and Boxed WARNING, for each TherapeuticsMD product as follows:

About TherapeuticsMD

TherapeuticsMD, Inc. is an

innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women. Our products

are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic

focus in family planning, reproductive health, and menopause management. The Company is committed to advancing the health of women

and championing awareness of their healthcare issues. To learn more about TherapeuticsMD, please visit www.therapeuticsmd.com or

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 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: the effects of the COVID-19 pandemic;

the company's ability to maintain or increase sales of its products; the company's ability to develop and commercialize

IMVEXXY , ANNOVERA , and BIJUVA and obtain additional financing necessary therefor;

whether the company will be able to comply with the covenants and conditions under its term loan facility; the potential of adverse

side effects or other safety risks that could adversely affect the commercialization of the company's current or future

approved products or preclude the approval of the company's future drug candidates; whether the FDA will approve the efficacy

supplement for the lower dose of BIJUVA; the company's ability to protect its intellectual property, including with respect

to the Paragraph IV notice letters the company received regarding IMVEXXY and BIJUVA; the length, cost and uncertain results of

future clinical trials; the company's reliance on third parties to conduct its manufacturing, research and development and

clinical trials; the ability of the company's licensees to commercialize and distribute the company's products; the

ability of the company's marketing contractors to market ANNOVERA; the availability of reimbursement from government authorities

and health insurance companies for the company's products; the impact of product liability lawsuits; the influence of extensive

and costly government regulation; the volatility of the trading price of the company's common stock and the concentration

of power in its stock ownership. PDF copies of the company's historical press releases and financial tables can be viewed

and downloaded at its website: www.therapeuticsmd.com/pressreleases.aspx.

Vice President, Investor Relations

561-961-1900, ext. 2088

THERAPEUTICSMD, INC. AND SUBSIDIARIES