TherapeuticsMD, Inc (TXMD) saw its loss narrow to $19.47 million, or $0.11 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $25.02 million, or $0.13 a share. Revenue during the quarter dropped 6.24 percent to $5.19 million from $5.54 million in the previous year period. Gross margin for the quarter contracted 65 basis points over the previous year period to 77 percent.
Operating loss for the quarter was $19.50 million, compared with an operating loss of $25.13 million in the previous year period.
“We are making excellent progress this year advancing our pipeline and enhancing our commercial capabilities focused on women’s health. During the quarter, we successfully completed the submission of our NDA for TX-004HR as a novel treatment for moderate to severe dyspareunia, a symptom of VVA due to menopause, and we continued ongoing pre-commercialization activities for this important product,” said TherapeuticsMD Chief executive officer Robert G. Finizio. “We now eagerly await the topline data from our Replenish Trial for TX-001HR in the fourth quarter of 2016, our second novel hormone therapy program, 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 $53.52 million cash to meet operating activities during the nine month period as against cash outgo of $62.43 million in the last year period. The company has spent $0.86 million cash to meet investing activities during the nine month period as against cash outgo of $0.13 million in the last year period.
Cash flow from financing activities was $137.22 million for the nine month period, up 48.61 percent or $44.89 million, when compared with the last year period.
Cash and cash equivalents stood at $147.53 million as on Sep. 30, 2016, up 81.86 percent or $66.41 million from $81.12 million on Sep. 30, 2015.
Working capital increases sharply
TherapeuticsMD, Inc has recorded an increase in the working capital over the last year. It stood at $143.64 million as at Sep. 30, 2016, up 88.76 percent or $67.54 million from $76.09 million on Sep. 30, 2015. Current ratio was at 12.52 as on Sep. 30, 2016, up from 7.51 on Sep. 30, 2015.
Cash conversion cycle (CCC) has increased to 280 days for the quarter from 277 days for the last year period. Days sales outstanding went up to 74 days for the quarter compared with 58 days for the same period last year.
Days inventory outstanding has decreased to 32 days for the quarter compared with 79 days for the previous year period. At the same time, days payable outstanding went down to 387 days for the quarter from 413 for the same period last year.
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