Why TherapeuticsMD Stock Is Trading Higher

TherapeuticsMD Inc TXMD shares are trading higher Monday after the company reported financial results.

TherapeuticsMD said second-quarter revenue increased 24% year-over-year to $28.56 million, which beat average analyst estimates of $23.2 million, according to Benzinga Pro. The women's healthcare company reported quarterly earnings of $12.39 per share, which was up from a loss of $5.41 per share in the prior year's quarter. 

A $143.4 million gain recognized from the sale of vitaCare was included in the company's net income for the quarter. 

"The U.S. Food and Drug Administration's recent approval of our supplemental new drug application for ANNOVERA has significantly enhanced our ability to meet demand for the product. We were also able to repay $120 million dollars of debt with the proceeds of our successful divestiture of our vitaCare unit," said Hugh O'Dowd, CEO of TherapeuticsMD.

TherapeuticsMD said it ended the second quarter with $26.3 million in cash on hand. 

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TXMD Price Action: TherapeuticsMD has a 52-week high of $10.17 and a 52-week low of 15 cents.

The stock was up 15.1% at $10.60, according to Benzinga Pro.

Photo: Martin Büdenbender from Pixabay.