Earnings release
Page 1
FOR IMMEDIATE RELEASE Exhibit 99.1 Therapeutics MD TherapeuticsMD Announces First Quarter 2021 Financial Results - 1Q21 total net revenue increased to $ 19.9 million - - 1Q21 total net product revenue increased 60 % to $ 19.6 million compared to 1Q20 - -ANNOVERA prescriptions continue to grow with increasing consumer support and acceptance- - Further strengthened ANNOVERA® patent family through June 2039 - - Significantly improved average net revenue per unit for IMVEXXY® to $ 61 and BIJUVA® to $ 69 - -vitaCare's divesture process continues in an effort to unlock shareholder value- - Conference call scheduled for 8:30 a.m. ET today - BOCA RATON , Fla . - May 6 , 2021 - TherapeuticsMD , Inc. ( NASDAQ : TXMD ) , an innovative , leading women's healthcare Company , today reported financial results for the first quarter ended March 31 , 2021 . " I am pleased with our ongoing execution across the organization , which is in - line with our 2021 operating plan led by ANNOVERA , which performed well in a challenging environment . Our financial performance continues to improve year - over - year . Both menopausal products , IMVEXXY and BIJUVA , had record net revenue per unit . We are also pleased to report that three new ANNOVERA patents were obtained , strengthening durability and extending exclusivity through June 2039. The Company won its appeal for the new low - dose BIJUVA 0.5 / 100 with the FDA . We are confident that these milestones , together with our existing and new commercial strategies , will continue to deliver strong growth throughout 2021 , " said Robert G. Finizio , Chief Executive Officer of TherapeuticsMD . First Quarter Review Total net product revenue for the first quarter of 2021 increased 60 % to $ 19.6 million compared to the first quarter of 2020. When compared to the fourth quarter of 2020 , total net product revenue decreased by 13 % for the first quarter of 2021 . ANNOVERA ( segesterone acetate and ethinyl estradiol vaginal system ) • . ANNOVERA net product revenue increased by $ 6.5 million to $ 8.8 million for the first quarter of 2021 as compared to $ 2.3 million for the first quarter of 2020 . Net revenue per unit , calculated from sales to wholesalers and pharmacies , was $ 1,071 for the first quarter of 2021. The Company expects net revenue per unit for ANNOVERA to average approximately $ 1,100 for the year . Approximately 6,240 ANNOVERA prescriptions were dispensed to patients during the first quarter of 2021. ANNOVERA total prescription volume increased 164 % for the first quarter of 2021 as compared to the first quarter of 2020. ANNOVERA total prescription volume increased 5 % for the first quarter of 2021 as compared to the fourth quarter of 2020. Strong refill rates continued with eligible patients . During the first quarter the United States Patent and Trademark Office ( USPTO ) issued three new ANNOVERA patents , which are now listed in the U.S. Food and Drug Administration's ( FDA ) Approved Drug Products with Therapeutic Equivalence Evaluations ( commonly known as the Orange Book ) . With these additional patents , the Orange Book lists a total of six patents for ANNOVERA . These newly issued patents protect key properties of ANNOVERA and extend patent protection for ANNOVERA from February 2039 to June 2039 . IMVEXXY® ( estradiol vaginal inserts ) • IMVEXXY net product revenue increased by 10 % to $ 7.0 million for the first quarter of 2021 as compared to $ 6.4 million for the first quarter of 2020 .