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Mar 31, 2020
TherapeuticsMD Q1 2020 Earnings Report
Reported financial results for the first quarter ended March 31, 2020.
Key Takeaways
TherapeuticsMD reported Q1 2020 financial results, with net product revenue of $12.3 million. The company significantly reduced operating expenses and is aiming for EBITDA breakeven in 2021. The launch of ANNOVERA was paused due to the COVID-19 pandemic.
Total net product revenue for Q1 2020 was $12.3 million, exceeding Wall Street consensus.
The company is significantly reducing operating expenses, while maintaining the goal of achieving EBITDA breakeven in 2021.
Discussions are ongoing with TPG Sixth Street Partners to defer the scheduled start of quarterly revenue covenants due to COVID-19.
The first Orange Book listed patent for ANNOVERA® was issued, potentially extending exclusivity to 2039.
TherapeuticsMD
TherapeuticsMD
Forward Guidance
The company expects total operating costs to be significantly reduced for the remainder of the year and net product revenue to improve.