TherapeuticsMD Plans On Raising $125 Million To Fund Commercialization Activities, Research & Clinical Trials

Shares of

plunged more than 7 percent after Tuesday's market close following the company's

of a $125 million offering of common stock. TherapeuticsMD is a women's healthcare product company. The company plans on using the majority of the proceeds from the offering to fund commercialization activities for its TX-004HR, an applicator-free vaginal estradiol softgel drug candidate. TherapeuticsMD will also use some of the proceeds to finance other research projects, clinical trials, clinical formulation and development in addition to working capital and general corporate purposes. Shares had closed down more than 5 percent Tuesday. The stock was trading at $7.63 in Wednesday's pre-market session, down 7.6 percent.