TherapeuticsMD, Inc. (TXMD) saw its loss widen to $22.84 million, or $0.12 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $17.48 million, or $0.10 a share.
Revenue during the quarter dropped 20.29 percent to $4.49 million from $5.63 million in the previous year period. Gross margin for the quarter expanded 614 basis points over the previous year period to 84.18 percent.
Operating loss for the quarter was $22.94 million, compared with an operating loss of $17.51 million in the previous year period.
"During 2016, we made significant advancements with our two late-stage pipeline candidates while we pursued our goal to bring new healthcare solutions to women to help manage their menopause symptoms," said TherapeuticsMD chief executive officer Robert G. Finizio. "As we look forward to 2017, we are planning the launch of TX-004HR, pending regulatory approval, as a highly differentiated new treatment for moderate-to-severe dyspareunia, a symptom of VVA due to menopause. We also intend to file an NDA for TX-001HR, which, if approved, would be the first and only FDA-approved bio-identical combination of estradiol and progesterone for the treatment of moderate-to-severe vasomotor symptoms due to menopause."
Operating cash flow remains negative
TherapeuticsMD, Inc. has spent $69.14 million cash to meet operating activities during the year as against cash outgo of $79.04 million in the last year.
The company has spent $1.26 million cash to meet investing activities during the year as against cash outgo of $0.58 million in the last year.
Cash flow from financing activities was $137.23 million for the year, up 47.60 percent or $44.25 million, when compared with the last year.
Cash and cash equivalents stood at $131.53 million as on Dec. 31, 2016, up 103.28 percent or $66.83 million from $64.71 million on Dec. 31, 2015.
Working capital increases sharply
TherapeuticsMD, Inc. has recorded an increase in the working capital over the last year. It stood at $124.43 million as at Dec. 31, 2016, up 107.33 percent or $64.41 million from $60.01 million on Dec. 31, 2015. Current ratio was at 9.30 as on Dec. 31, 2016, up from 6.63 on Dec. 31, 2015.
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