TXMD Stock — TherapeuticsMD Inc.: Cash, EV, Pipeline

What they do

TherapeuticsMD is a pharmaceutical royalty company that owns or has rights to trademarks, service marks, or trade names that were previously used in connection with the operation of its business, or are now licensed by another party, including TherapeuticsMD®, vitaMedMD®, BocaGreenMD®, BIJUVA®, and IMVEXXY®, which are protected under applicable intellectual property laws and are the property of the Company.

Source: 10-K FY2025 via SEC EDGAR

Share price

$1.74

Market cap

$20.1M

Cash

$9.2M

Enterprise value

$10.9M

Balance sheet

Cash	$9.2M
Debt	$0.0M
Net cash	$9.2M
Enterprise value	$10.9M
Basic shares	11.6M shares
Fully diluted shares	11.8M shares
Fully diluted market cap	$20.5M
Cash per share	$0.79
Quarterly burn	+$0.8M generated

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

11.6M

Pre-funded warrants

0.0M

Options

0.1M

RSUs

0.0M

Warrants

0.1M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

11.8M

Cap table as of 2026-08-09.

Price history

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Upcoming catalysts

No upcoming catalysts on file for this company.

Full readout calendar →

Pipeline assets

IMVEXXY

Approved · Active Modality: small molecule (vaginal estradiol insert)

Target estrogen receptor

Partnerships U.S.: exclusive perpetual license to Mayne Pharma (Dec 2022; 8.0%/7.5% royalties for 20 years, $3M/yr minimum royalties for 12 years, sales milestones up to $30M). Canada: Knight Therapeutics (approved, commercializing since 2024). Ex-U.S. ex-Canada/Israel: Theramex (Israel rights transferred from Knight to Theramex Dec 2024).

Indications

Dyspareunia (moderate-to-severe vulvar and vaginal atrophy due to menopause) (Approved)

Status note Approved vaginal estradiol product for dyspareunia. Company is now a royalty company; all commercial operations discontinued (reflected as discontinued operations since Dec 2022). May 2025 lawsuit against Mayne Pharma for breach of contract over net working capital allowances.

BIJUVA

Approved · Active Modality: small molecule (oral estradiol + progesterone)

Target estrogen + progesterone receptors

Partnerships U.S.: Mayne Pharma (same royalty terms as IMVEXXY). Canada: Knight Therapeutics (approved, commercializing since 2024). Europe: Theramex (regulatory approval in certain European countries since 2021).

Indications

Moderate-to-severe vasomotor symptoms due to menopause (Approved)

Status note Oral bioidentical estradiol/progesterone combination for menopause vasomotor symptoms. Company is now a royalty company; former commercial operations classified as discontinued operations.

ANNOVERA

Approved · Active Modality: vaginal contraceptive ring (segesterone acetate + ethinyl estradiol)

Target progesterone + estrogen receptors

Partnerships Exclusive license to commercialize assigned to Mayne Pharma (with Population Council consent); royalty terms as above.

Indications

Contraception (one-year vaginal system) (Approved)

Status note Approved one-year vaginal contraceptive system; exclusive commercialization license assigned to Mayne Pharma.

Prescription prenatal vitamin products

Approved · Active Modality: prenatal vitamin products

Aliases BocaGreenMD, vitaMedMD

Target n/a

Partnerships U.S.: Mayne Pharma (same royalty terms).

Indications

Prenatal nutrition (Approved)

Status note Prescription prenatal vitamin brands commercialized in the U.S. by Mayne Pharma under the exclusive license.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	342,447	+133,237	0.04%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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TXMD — TherapeuticsMD Inc. ☆

What they do

Balance sheet

Share structure

Price history

Upcoming catalysts

Pipeline assets

Specialist fund holders

Latest news

TXMD — TherapeuticsMD Inc.