Why TherapeuticsMD [NASDAQ: TXMD] Stock Is Plunging Today?

Shares of TherapeuticsMD [NASDAQ: TXMD] stock tumbled 14.34% during the trading session of Thursday. The firm has declared the pricing of its underwritten offer to the public of nearly 59.5 million shares of its common stock. The firm has anticipated that it will gain a profit of nearly $110 million from this offering.

This profit will be projected by the firm before subtracting the discounts and commissions of the offering and other projected expenditures due by TherapeuticsMD. Furthermore, TherapeuticsMD has also provided the chance to the underwriter that they would be able to purchase nearly $8.9 million additional shares of common stock in the 30-day option provided to them.

The sole agent of this offering will be Cantor Fitzgerald & Co. Moreover, underwriters will also be able to sell the share from time to time in more than one transaction on Nasdaq Global Select Market. The last sale price of the shares as described on the Nasdaq Global Select Market was $2.17 per share on February 10, 2021.

Additionally, TherapeuticsMD is preparing to use the profit from the offering for the marketing of its three FDA-authorized products, IMVEXXY for the cure of mild-to-serious dyspareunia, BIJUVA, and ANNOVERA. TherapeuticsMD also might utilize a section of the net revenues from the offering to outflow certain obligations presently unpaid in accordance with its financing deal and is planning to utilize a net section of the profit for working capital and general business purposes.