TherapeuticsMD, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>TherapeuticsMD, Inc. filed its 2023 10-K, confirming its status as a smaller reporting company and its listing on Nasdaq.</b>

AI Summary

TherapeuticsMD, Inc. (TXMD) filed a Annual Report (10-K) with the SEC on March 29, 2024. TherapeuticsMD, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Nevada and its principal executive offices are located in Boca Raton, Florida. Common stock of TherapeuticsMD, Inc. is traded on The Nasdaq Stock Market LLC under the symbol TXMD. The filing indicates that TherapeuticsMD, Inc. is a non-accelerated filer and a smaller reporting company. The company has submitted all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking TherapeuticsMD, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of TherapeuticsMD's financial performance, business operations, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: low — TherapeuticsMD, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant negative or positive news, indicating a routine disclosure.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion, and risk factors to understand TherapeuticsMD's performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported fiscal year end)
• 2024-03-29 — Filing Date (Date the 10-K was filed)
• 001-00100 — Commission File Number (SEC Commission File Number for the registrant)
• 87-0233535 — IRS Employer Identification No. (Registrant's IRS EIN)

Key Players & Entities

• TherapeuticsMD, Inc. (company) — Registrant name
• TXMD (company) — Trading symbol
• Nasdaq Stock Market LLC (company) — Exchange where common stock is registered
• Nevada (jurisdiction) — State of incorporation
• Boca Raton, Florida (location) — Address of principal executive offices
• 2023-12-31 (date) — Fiscal year end
• 2024-03-29 (date) — Filing date

FAQ

Industry Context

TherapeuticsMD operates in the pharmaceutical preparations industry, focusing on women's healthcare.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose financial and operational information.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, expenses, and profitability.
2. Review the 'Risk Factors' section for potential challenges and uncertainties facing the company.
3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into business performance and strategy.

Year-Over-Year Comparison

This is the annual report for the fiscal year ended December 31, 2023, following previous filings.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share TXMD The Nasdaq Stock Market
• $5.0 million — -time milestone payments of each of (i) $5.0 million if aggregate net sales of all Products
• $100.0 m — ted States during a calendar year reach $100.0 million, (ii) $10.0 million if aggregate
• $10.0 million — alendar year reach $100.0 million, (ii) $10.0 million if aggregate net sales of all Products
• $200.0 million — ted States during a calendar year reach $200.0 million and (iii) $15.0 million if aggregate ne
• $15.0 million — dar year reach $200.0 million and (iii) $15.0 million if aggregate net sales of all Products
• $300.0 million — ted States during a calendar year reach $300.0 million. Further, Mayne Pharma will pay us roya
• $80.0 million — at a royalty rate of 8.0% on the first $80.0 million in annual net sales and 7.5% on annual
• $80.0 m — ales and 7.5% on annual net sales above $80.0 million, subject to certain adjustments,
• $3.0 million — will pay us minimum annual royalties of $3.0 million per year for 12 years, adjusted for inf
• $140.0 million — nse Agreement was (i) a cash payment of $140.0 million at closing, (ii) a cash payment of appr
• $12.1 million — g, (ii) a cash payment of approximately $12.1 million at closing for the acquisition of net w
• $1.0 million — , (iii) a cash payment of approximately $1.0 million at closing for prepaid royalties in con
• $257 thousand — License Agreement by an amount equal to $257 thousand per quarterly royalty payment plus inte
• $1.5 million — to us. We and Mayne Pharma settled the $1.5 million of consideration due to Mayne Pharma fo

Filing Documents

• ea0201465-10k_therapeu.htm (10-K) — 1144KB
• ea020146501ex21-1_therapeu.htm (EX-21.1) — 2KB
• ea020146501ex23-1_therapeu.htm (EX-23.1) — 2KB
• ea020146501ex23-2_therapeu.htm (EX-23.2) — 2KB
• ea020146501ex31-1_therapeu.htm (EX-31.1) — 9KB
• ea020146501ex31-2_therapeu.htm (EX-31.2) — 9KB
• ea020146501ex32-1_therapeu.htm (EX-32.1) — 4KB
• ea020146501ex32-2_therapeu.htm (EX-32.2) — 3KB
• ea020146501ex97-1_therapeu.htm (EX-97.1) — 20KB
• image_001.jpg (GRAPHIC) — 2KB
• 0001213900-24-028003.txt (&nbsp;) — 6946KB
• txmd-20231231.xsd (EX-101.SCH) — 78KB
• txmd-20231231_cal.xml (EX-101.CAL) — 67KB
• txmd-20231231_def.xml (EX-101.DEF) — 359KB
• txmd-20231231_lab.xml (EX-101.LAB) — 670KB
• txmd-20231231_pre.xml (EX-101.PRE) — 359KB
• ea0201465-10k_therapeu_htm.xml (XML) — 722KB

(Items 10, 11, 12, 13 and 14) of this annual report on Form

Part III (Items 10, 11, 12, 13 and 14) of this annual report on Form 10-K is incorporated by reference from the definitive Proxy Statement for the 2024 Annual Meeting of Stockholders or an amendment to this annual report on Form 10-K to be filed with the Securities and Exchange Commission no later than 120 days after the end of the registrant's fiscal year covered by this report. TABLE OF CONTENTS Page Part I Item 1.

Business

Business 1 Item 1A. Risk factors 11 Item 1B. Unresolved staff comments 31 Item 1C. Cybersecurity 31 Item 2.

Properties

Properties 32 Item 3. Legal proceedings 32 Item 4. Mine safety disclosures 32 Part II Item 5. Market for registrant's common equity, related stockholder matters, and issuer purchases of equity securities 33 Item 6. Reserved 33 Item 7. Management's discussion and analysis of financial condition and results of operations 33 Item 7A. Quantitative and qualitative disclosures about market risk 42 Item 8.

Financial statements and supplementary data

Financial statements and supplementary data 42 Item 9. Changes in and disagreements with accountants on accounting and financial disclosure 43 Item 9A. Controls and procedures 43 Item 9B. Other information 43 Item 9C. Disclosure regarding foreign jurisdictions that prevent inspections 43 Part III Item 10. Directors, executive officers and corporate governance 44 Item 11. Executive compensation 44 Item 12. Security 44 Item 13. Certain relationships and related transactions, and director independence 44 Item 14. Principal accountant fees and services 44 Part IV Item 15. Exhibits and financial statement schedules 45 Item 16. Form 10-K summary 48 i Part I

Business

Item 1. Business Overview Throughout this Annual Report on Form 10-K ("2023 10-K Report"), the terms "we," "us," "our," "TherapeuticsMD," "the Company," or "our company" refer to TherapeuticsMD, Inc., a Nevada corporation, and unless specified otherwise, include our wholly owned subsidiaries vitaMedMD, LLC, a Delaware limited liability company ("vitaMed"), and BocaGreenMD, Inc., a Nevada corporation ("BocaGreen"). TherapeuticsMD owns or has rights to trademarks, service marks, or trade names that were previously used in connection with the operation of its business, or are now licensed by another party, including TherapeuticsMD, vitaMedMD, BocaGreenMD, vitaCareTM, BIJUVA, and IMVEXXY, which are protected under applicable intellectual property laws and are the property of the Company. This 2023 10-K Report also contains trademarks, trade names and service marks of other companies, which are the property of their respective owners. Solely for convenience, trademarks, trade names and service marks referred to in this 2023 10-K Report may appear without the , or SM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable licensor to these trademarks, trade names, and service marks. We do not intend our use or display of other parties' trademarks, trade names or service marks to imply, and such use or display should not be construed to imply a relationship with, or endorsement or sponsorship of us by, these other parties. In addition, this 2023 10-K Report includes market and industry data that we obtained from periodic industry publications, third-party studies and surveys, government-agency sources, filings of public companies in our industry, and internal-company surveys. Industry publications and surveys generally state that their information has been obtained from sources believed to be reliable. Although we believe that the industry and

Forward-looking statements

Forward-looking statements This 2023 10-K Report contains forward-looking risks and uncertainties. For example, statements regarding our operations, financial position, business strategy, and other plans and objectives for future operations, and assumptions and predictions about future demand, marketing, expenses and sales are all forward-looking Discussion and Analysis of Financial Condition and Results of Operations," as well as in this 2023 10-K Report generally. These "potential(ly)," "continue," "forecast," "predict," "plan," "may," "will," "could," "would," "should," "expect," or the negative of such terms or other comparable terminology. We have based these forward-looking statements on our current expectations and projections about future events. We believe that the assumptions and expectations reflected in such forward-looking assumptions and expectations will prove to have been correct or that we will take any action that we may presently be planning. These forward-looking statements are inherently subject to known and unknown risks and uncertainties. Actual results or experience may differ materially from those expected or anticipated in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, competition from other businesses, market and general economic factors, and the other risks discussed in Item 1A of this 2023 10-K Report. This discussion should be read in conjunction with the consolidated fi

View Full Filing

View this 10-K filing on SEC EDGAR