Why TherapeuticsMD Shares Are Soaring Today

TherapeuticsMD Inc TXMD is trading higher Monday after the company announced it would sell its prescription services business, vitaCare, to GoodRx Holdings Inc GDRX.

Under terms of the agreement, TherapeuticsMD will receive $150 million in cash with up to an additional $7 million in cash consideration contingent upon vitaCare’s financial performance through 2023. The transaction is expected to close in the second quarter.

TherapeuticsMD also entered into a long-term services agreement with vitaCare to continue to utilize the vitaCare platform. 

TherapeuticsMD is a major drug manufacturer with a focus on creating and commercializing products exclusively for women.

See Also: Why Occidental Petroleum Shares Are Rising Today

TXMD 52-Week Range: $0.18 - $1.70

TherapeuticsMD shares were up 57.2% at 32 cents at time of publication.

Photo: stevepb from Pixabay.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!