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TherapeuticsMD Inc. (TXMD+7.16%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's transition from a women's healthcare company to a pharmaceutical royalty company, following the transaction with Mayne Pharma LLC on December 30, 2022.
Under the Mayne License Agreement, TherapeuticsMD granted Mayne Pharma exclusive rights to commercialize IMVEXXY, BIJUVA, and prescription prenatal vitamin products in the United States and its territories.
The company reported a net loss of $2.18 million for 2024, compared to a net loss of $10.28 million in 2023. The improvement is attributed to the reduction in operating expenses following the transition.
TherapeuticsMD's revenue for 2024 was $1.76 million, primarily from license agreements with Mayne Pharma, Theramex, and Knight Therapeutics.
The company recognized an impairment loss of $1.27 million related to abandoned patents and applications during the year.
TherapeuticsMD has cash and cash equivalents totaling $5.06 million as of December 31, 2024, and a royalty receivable of $19.57 million.
The company has identified substantial doubt about its ability to continue as a going concern due to its liquidity position and potential disputes with Mayne Pharma regarding net working capital adjustments.
TherapeuticsMD's primary source of revenue is from royalties on licensed products, with potential milestone payments based on sales targets.
The company has engaged external consultants to support its operations and has one full-time employee as of December 31, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TherapeuticsMD Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.