The stock of TherapeuticsMD, Inc. (NASDAQ: TXMD) fell more than 30% on Monday after the company announced a 1-for-50 reverse stock split.
TXMD stock was trading at $5.06 at the time of writing, representing a 33.99% loss. On Friday, the stock closed at $0.15, a loss of 11%. TherapeuticsMD has a market capitalization of $2.19 billion and a 52-week price range of $0.1500 – $6.55. The company has a P/E ratio of -0.36, a beta of 1.90.
As a result, every 50 shares of its common stock were converted into one share of common stock, and the authorized shares of common stock were reduced from 600 million to 12 million, according to the company. When the market opened, the company’s shares began trading on a split-adjusted basis.
TherapeuticsMD stated that the reverse stock split did not require stockholder approval, citing a legal provision.
The Reverse Stock Split went into effect on May 6, 2022, at 5:01 p.m. EST, following TherapeuticsMD’s submission of amended and restated articles of incorporation with Nevada regulators last week, according to an SEC filing.
Earnings History
TherapeuticsMD’s most recent earnings report was on March 10th, 2022. The reported $4.50 earnings per share (EPS) for the quarter fell $1.50 short of analysts’ consensus estimates of $3.00. During the quarter, the company earned $18.68 million, compared to the consensus estimate of $30.07 million. Over the last year, TherapeuticsMD has generated $0.43 earnings per share ($0.43 diluted earnings per share).
The firm hasn’t released its FY22 Q1 earnings date.
Company Profile
TherapeuticsMD, Inc is a women’s healthcare company based in the United States. IMVEXXY is a bio-identical hormone therapy combination of 17ß-estradiol and progesterone for the treatment of moderate-to-severe dyspareunia; BIJUVA is a ring-shaped contraceptive vaginal system; and ANNOVERA is a ring-shaped contraceptive vaginal system.