TherapeuticsMD Announces Third Quarter 2019 Financial Results - 3Q19 Net Revenue (Product and License) Increased to $23.7 Million - - 3Q19 Product Net Revenue Increased 34% to $8.2 Million Compared

TherapeuticsMD, Inc. 8-K

Announces Third Quarter 2019 Financial Results

3Q19 Net Revenue (Product and License) Increased to $23.7 Million -

3Q19 Product Net Revenue Increased 34% to $8.2 Million Compared to 2Q19-

The Company Reaffirms 4Q19 Financial Guidance -

Conference Call Scheduled for 4:30 p.m. ET Today -

RATON, Fla. - November 6, 2019 - TherapeuticsMD, Inc. (NASDAQ: TXMD), an innovative, leading women's

healthcare company, today reported financial results for the third quarter ended September 30, 2019 and provided a business update.

are very pleased with our results for the quarter, which are in-line with our financial guidance, and reaffirm our fourth quarter

2019 financial guidance," said Robert G. Finizio, Chief Executive Officer of TherapeuticsMD. "This reiterates our

confidence that we will be able to access an additional $50 million in capital from our term loan facility when fourth quarter

2019 results are announced. Additionally, we recently completed an equity raise that netted the company approximately $77 million

and improved our liquidity. We believe we now have the resources and momentum to continue to fully execute our plans into 2020

Quarter and Recent Developments

of Third Quarter 2019 Financial Results

net revenue increased to approximately $23.7 million, for the third quarter of 2019 compared with net revenue of approximately

$3.5 million for the prior year's quarter. During the third quarter of 2019, the company recognized license revenue of approximately

$15.5 million from the upfront fee, a non-refundable payment, under the company's license agreement with Theramex, which

is included in total revenue for the quarter.

net revenue increased to approximately $8.2 million, for the three months ended September 30, 2019 compared with approximately

$3.5 million for the three months ended September 30, 2018. Product net revenue increased primarily due to increases in sales

of approximately $4.5 million of IMVEXXY in the current period, partially offset by a decrease in prenatal vitamin sales of approximately

$0.7 million. Product net revenue for the three months ended September 2019 also included sales of BIJUVA of approximately $0.5

million and sales of ANNOVERA of approximately $0.4 million. The revenue decrease related to our prenatal vitamins was primarily

affected by a lower number of units sold as compared to the prior year period, partially offset by increased revenue per unit.

The company launched IMVEXXY in the third quarter of 2018, BIJUVA in the second quarter of 2019, and ANNOVERA in the third quarter

following table provides information about disaggregated revenue by product mix for the three months ended September 30, 2019

revenue for IMVEXXY and BIJUVA has been greatly affected by the company's co-pay assistance programs introduced to provide

products at a reasonable cost regardless of insurance coverage. We expect our product revenues to improve as commercial and Medicare

payer coverage increases, and plans complete the process needed to adjudicate IMVEXXY, BIJUVA and ANNOVERA prescriptions at pharmacies.

and development (R&D) expenses for the third quarter of 2019 decreased to approximately $4.1 million, compared with approximately

$6.7 million for the prior year's quarter. R&D costs decreased primarily as a result of transferring certain costs and

activities from R&D expenses to operations as they begin to support commercial and launch efforts after the FDA approval of

IMVEXXY and BIJUVA. R&D expenses include costs related to manufacturing validation as well as early development trials and

employment costs of personnel involved in R&D activities.

general and administrative (SG&A) expenses increased for the third quarter of 2019 to approximately $45.1 million, compared

with approximately $30.4 million for the prior year's quarter. The increase of SG&A expenses for third quarter 2019

was primarily a result of increased expenses associated with sales and marketing efforts and personnel costs to support the launch

and commercialization of IMVEXXY, BIJUVA, and ANNOVERA including outsourced sales personnel and their related expenses, physician

education, advertising, and travel expenses related to product commercialization. The company expects sales and marketing expenses

to continue to increase as it continues the launch of BIJUVA and ANNOVERA and continues to support its growing business and commercialization

the third quarter of 2019, net loss decreased to approximately $32.0 million, or $0.13 per basic and diluted share, compared with

approximately $35.6 million, or $0.16 per basic and diluted share, for the third quarter of 2018.

of September 30, 2019, the company's cash on hand totaled approximately $155.3 million, compared with approximately $161.6

million at December 31, 2018. On October 29, 2019, the company received net proceeds of approximately $77.0 million from an underwritten

public offering of its common stock.

outstanding debt, net of issuance costs, was approximately $194.4 million as of September 30, 2019.

company reaffirms its previously announced fourth quarter 2019 financial guidance outlined below:

Call and Webcast Details

will host a conference call and audio webcast today at 4:30 p.m. ET to discuss these financial results and provide a business

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: 7045719.

see the Full Prescribing Information, including indication and Boxed WARNING, for each TherapeuticsMD product as follows:

About 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

and on Facebook: TherapeuticsMD.

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

ability to develop and commercialize IMVEXXY , ANNOVERA , BIJUVA and its hormone

therapy drug candidates and obtain additional financing necessary therefor; whether the company will be able to comply with the

covenants and conditions under its term loan facility, including the conditions to draw additional tranches thereunder; 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; 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 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.

President, Investor Relations

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