TherapeuticsMD, a company specializing in pharmaceutical royalties, has announced its intention to explore strategic alternatives that could include an acquisition, merger, or asset sales. While the company initially focused on developing women's healthcare products, it has since shifted its focus to solely collecting royalties from its licensees. This change has allowed TherapeuticsMD to streamline its operations, no longer engaging in research and development or commercial activities.
In a recent transaction with Mayne Pharma Group, TherapeuticsMD received a substantial sum of approximately $153.1 million through a licensing and asset sale. This deal further supports the company's plans for growth and transformation. As TherapeuticsMD transitions away from its historical business operations, it remains dedicated to cost reduction and cash preservation.
In terms of financial performance, TherapeuticsMD reported a net loss from continuing operations of 13 cents per share in the third quarter. This marks a significant improvement when compared to the net loss of $1.58 per share from the previous year. Additionally, the company generated $1.2 million in gross royalties during the quarter.
TherapeuticsMD's exploration of strategic alternatives underscores its commitment to maximizing value for its stakeholders. By carefully considering options such as acquisitions, mergers, or asset sales, the company aims to position itself for continued success in the pharmaceutical industry.