TherapeuticsMD Inc (NYSEMKT:TXMD) Reports Pricing Of Common Stock Offering

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TherapeuticsMD Inc (NYSEMKT:TXMD) reported the pricing of common stock offering of 12.4 million shares at $5.65 per share. The offering is anticipated to close on or about September 28, 2017, depending on the closure of customary closing conditions. The sole book-running manager for the underwritten public offering is J.P. Morgan.

The highlights

TherapeuticsMD plans to use a majority of the net proceeds from the planned offering to fund commercialization and pre-commercialization activities for TX-004HR, the firm’s applicator-free vaginal estradiol softgel medication candidate targeting moderate-to-severe vaginal discomfort during sexual intercourse, an indication of vulvar and vaginal atrophy following menopause.

Also, it intends to fund the commercialization and pre-commercialization activities for TX-001HR, the firm’s bio-identical hormone treatment combination of progesterone and 17ß- estradiol in a single, oral softgel medication candidate targeting moderate to severe VMS following menopause in women with an intact uterus, for other research, clinical studies, clinical development and formulation and for general corporate purposes and working capital.

In unrelated news, TherapeuticsMD reported that it will voluntarily move to the Nasdaq Global Select Marketplace from its current listing on the NYSE American LLC. The firm anticipates its common stock will be listed on the Nasdaq Global Select Marketplace on October 9, 2017 under the ticker “TXMD.”

Robert G. Finizio, the CEO of TherapeuticsMD, expressed that NASDAQ is a remarkable fit for TherapeuticsMD and highlights the home of the world’s major publicly traded biopharma firms. They consider this move will improve company’s visibility to different types of institutional shareholders and provide efficient liquidity for their investors.

Nelson Griggs, the President of the NASDAQ Stock Exchange, expressed that they are delighted to welcome TherapeuticsMD to the family of the world’s most innovative and largest firms. A Nasdaq listing will provide company exposure to major indexes in the investment group and will join other great biotechnology and pharmaceutical companies on Nasdaq.

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