TherapeuticsMD, Inc. reported its financial results for the first quarter of 2025, revealing a net revenue of $393,000, an increase of 25.6% from $313,000 in the same period last year. The company, which transitioned to a pharmaceutical royalty model following its licensing agreement with Mayne Pharma in December 2022, continues to focus on generating revenue through royalties from licensed products. The net loss for the quarter was $653,000, or $0.06 per share, compared to a net loss of $734,000, or $0.07 per share, in the first quarter of 2024.
Operating expenses for the first quarter of 2025 decreased to $1.26 million from $1.46 million in the prior year, primarily due to reduced selling, general, and administrative expenses, which fell by 18.2% to $1.08 million. The decrease in expenses reflects the efficiencies gained from the company's shift to a royalty-based business model. Additionally, the company recorded a write-off of $88,000 related to patents and trademarks during the quarter.
In terms of operational developments, TherapeuticsMD's total assets as of March 31, 2025, were $38.24 million, a slight decrease from $38.82 million at the end of 2024. The company reported current liabilities of $4.74 million, down from $5.17 million at the end of the previous year. The company’s cash and cash equivalents increased to $5.75 million from $5.06 million, indicating improved liquidity. However, the company continues to face challenges related to its ongoing litigation with Mayne Pharma regarding net working capital allowances, which could impact future cash flows.
Looking ahead, TherapeuticsMD has expressed concerns about its ability to continue as a going concern, citing the need for additional capital to fund operations until it becomes cash flow positive. The company may pursue various financing options, including equity and debt offerings, but acknowledges that market conditions could limit its ability to raise funds. The outcome of the ongoing litigation with Mayne Pharma and the performance of licensed products will be critical in determining the company's financial stability in the coming months.
About TherapeuticsMD, Inc.
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