The Boca Raton-based company (NYSE: TXMD) has yet to price the common stock offering. It said the underwriters would have a 30-day option to purchase an additional 15 percent of the shares of common stock.
TherapeuticsMD said it’ll use the money mostly to fund commercialization of TX-004HR, an estradoil softgel that the company believes can relieve vaginal pain during sexual intercourse due to vulvar and vaginal atrophy for women in menopause. The company, led by CEO Robert G. Finizio, recently reported positive Phase 3 clinical results for the drug. It plans to file a New Drug Application with the FDA in the first half of this year.
The company already sells vitamins for women’s health. It’s also conducting a clinical trial for a combination estradoil and progesterone drug to treat the vasomotor symptoms of menopause.