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TherapeuticsMD Shares Plunge On Declining Gross Margin, Total Prescription Volume

TherapeuticsMD Shares Plunge On Declining Gross Margin, Total Prescription Volume
  • TherapeuticsMD Inc (NASDAQ: TXMDreported a Q1 EPS loss of $0.11 better than the analyst consensus estimate loss of $0.12, as well as an improvement from EPS loss of $0.21 a year ago. Sales of $19.90 million were slightly better than the consensus of $19.77 million.
  • Though the sales figure improved 60% Y/Y, it was down 13% sequentially.
  • Annovera's net product revenue increased to $8.8 million compared to $2.3 million a year ago.
  • Net revenue per unit was $1,071. The company expects net revenue per unit for Annovera to average approximately $1,100 for the year.
  • Approximately 6,240 prescriptions were dispensed to patients during Q1, up 164% on a Y/Y basis and 5% sequentially.
  • Imvexxy revenue increased by 10% Y/Y to $7 million. Net revenue per unit reached $61, reflecting a 39% Y/Y improvement.
  • Approximately 108,200 prescriptions were dispensed, with the total prescription volume declined 14% Y/Y.
  • BIJUVA sales more than doubled to $2.5 million, with revenue per unit improving 85% Y/Y to approximately $69. Roughly 30,800 BIJUVA prescriptions were dispensed.
  • Gross margin of 76% was 2% lower than 78% reported a year ago, affected by production-related write-offs for Annovera of $0.9 million.
  • TherapeuticsMD held cash of $137.6 million at the end of Q1.
  • Price Action: TXMD shares dropped 10.9% at $1.14 in the market trading session on the last check Thursday.

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