TherapeuticsMD, Inc. Q2 FY2021 earnings call

• Sales force access improving, with over 50% of primary targets reached via live calls.
• Online patient experience growing, with UpScript telemedicine relationship live.
• vitaCare growing, with third customer signed and over 30 potential customers.
• Welcome of Hugh O’Dowd as President, previously CEO of Neon Therapeutics.
• ANNOVERA benefiting from telemedicine growth and prescriber uptake, capturing market share from other contraceptives.
• IMVEXXY seeing growth in net revenue per unit and refill rates, with telemedicine and consumer campaigns supporting growth.
• BIJUVA seeing prescription growth, EU approvals, and FDA filing for low dose.

ANNOVERA: Second quarter net revenue increased 9% sequentially. Net revenue per unit was $1,157, refill rates strong at ~50%, prescribers slightly up, and it's capturing market share from other contraceptive methods. IMVEXXY: Net revenue increased 40% sequentially, net revenue per unit $64, refill rates high (~6.5 total fills), and benefited from a $75 cash copay program. BIJUVA: Total prescriptions grew 9.5% QoQ, prescribers up 4%, received EU approvals, and has an FDA filing for low dose. vitaCare Prescription Services: Signed third customer, has over 30 potential customers, and evaluating a minority stake sale to raise non-dilutive capital.

• Expect prescription trends to accelerate in Q3/Q4 due to improved healthcare provider access.
• Anticipate near-term growth in commercial and government insurance coverage.
• ANNOVERA expected to benefit from J-code implementation, potentially boosting public health sales by 20%.
• Evaluating selling minority stake in vitaCare for non-dilutive capital.

• Potential impact of COVID-19 resurgence on sales.
• Uncertainty around ongoing negotiations for minority stake in vitaCare.

Q: How are you thinking about valuation ranges for minority stake in vitaCare franchise and impact of ANNOVERA's J-code?

A: VitaCare minority stake negotiations are active, with aim to retain majority and secure non-dilutive capital; J-code would allow Title X facilities to reimburse for ANNOVERA, potentially boosting public health sales by 20%.

Q: Has resurgence of COVID impacted second half sales?

A: Access to providers is better than before COVID but not at pre-pandemic levels, but catalysts like online growth and coverage improvements will support growth.

Q: Thoughts on prioritization of IMVEXXY promotion vs ANNOVERA?

A: Current focus balances growth for both, with IMVEXXY supported by telemedicine and consumer campaigns, and ANNOVERA by refill rates and coverage improvements.