TherapeuticsMD, Inc. (NYSE MKT: TXMD), a women’s health care company, ("TherapeuticsMD," the "Company," "we," or "our") today announced results for the quarter ended March 31, 2014.
First Quarter 2014 Highlights:
- Net revenue increased to $2.8 million compared with $1.5 million for the quarter ended March 31, 2013;
- Net loss was $9.2 million compared with a net loss of $6.4 million for the quarter ended March 31, 2013;
- Launched Prena1 Pearl™, the sole generic equivalent formulation of vitaPearl, the smallest complete prescription prenatal multivitamin and the first to contain FOLMAX™, FePlus™, and pur-DHA™;
- Reported positive results of toxicity study of TX-004HR, its estradiol VagiCap drug candidate, for treatment of vulvar vaginal atrophy (VVA), that demonstrated it was "non-irritant" following a 28-day repeated application;
- Filed four additional patent applications, bringing total applications filed and issued to 33; and
- Ended the quarter with $45.4 million in cash and cash equivalents, and no debt.
Robert G. Finizio, Co-Founder and Chief Executive Officer, stated, “This has been a busy and exciting quarter for us, highlighted by advancements in clinical trials for our principal hormone therapy drug candidates. Our two largest commercial opportunities are our investigational combination estradiol and progesterone (E+P) therapy for treatment of vasomotor symptoms in menopausal women, and estradiol VagiCap for VVA. We remain on track to complete enrollment this fall in the E+P phase 3 trial, where enrollment is strong and patient retention is positive. Pending a successful trial, the U.S. Food and Drug Administration's (FDA) approval of our E+P drug candidate, we will be well positioned as a first-mover in this multi-billion dollar market to introduce and capitalize on what could be the first safe and effective bioidentical combination hormone therapy product for menopausal women.”