TherapeuticsMD Enters $8.5 Million Private Placement Agreement (TXMD)

Specialty pharmaceutical company TherapeuticsMD (OTC: TXMD) has just made a positive announcement for shareholders and investors by revealing information about a Securities Purchase Agreement that it has signed with accredited investors.

As per the terms of the agreement, TherapeuticsMD has agreed to enter 3,953,489 of its common stock shares in a private placement at a pre-defined purchase rate of $2.15 per share. Since this private placement is of a very large volume of shares, the gross proceeds that the company will earn through the agreement are along the lines of $8.5 million.

Plans for Funds

Of course, there are a few details that need to be hashed out, but for all intents and purposes, the deal is a go. Any securities that are issued in private placement with the intention of trading within the United States need to be approved and registered under the Securities Act of 1933. As of right now, the securities issued by TherapeuticsMD have not been registered. However, the company is hoping to get this done in some time. Another important registration that needs to be completed by the company is with the Securities and Exchange Commission. Only after filing a registration statement with the SEC will it be able to resell the common stock shares that have been issued under this private placement within the country.

This funding has come in at a great time for TherapeuticsMD. It has three investigational new drugs, or INDs, that have been submitted of approval to the Food and Drug Administration (FDA). A part of the $8.5 million that the company will receive from the agreement will go toward funding of the pharmacokinetic trials that it needs to complete before Phase III trials can be started. All three drugs submitted to the FDA are directed at menopause symptom relief.

More About TherapeuticsMD

TherapeuticsMD is a specialty pharmaceutical company and the parent company of vitaMedMD. The creative and developmental efforts of the company are focused toward the creation of effective and safe therapy solutions for women. In general, its products focus on women facing pregnancy and menopause. The company has plenty of over the counter products in the market and it is hoping to release a few more FDA approved treatment options for women suffering from menopausal symptoms.

Market Movement

Shares of TherapeuticsMD are traded in high volumes in the OTC markets and the company is currently one of the most actively traded penny stocks. As per the day’s closing figures, TherapeuticsMD is trading at $3.45 per share, which is barely $0.01 or just 0.3% lower than last trading session, on a volume of 4.4 million shares.

Pristine Solutions (OTC: PRTN) is another penny stock company that deals with the creation and development of Tropine 3 based non-hormonal treatment solutions for hot flashes during menopause. It is currently trading at $0.25 per share. Save the World Air (OTC: ZERO), an emerging energy solutions company, is also one of the most actively traded OTC stocks and is currently trading at $1.01 per share.

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Published by Benjamin Roussey

Benjamin Roussey is from Sacramento, California. He has two master’s degrees and served four years in the U.S. Navy. His bachelor’s degree is from CSUS (1999) where he was on a baseball pitching scholarship. His second master’s degree is an MBA in Global Management from the University of Phoenix (2006). He has worked for small businesses, public agencies, and large corporations. He has lived in Korea and Saudi Arabia where he was an ESL instructor. Benjamin spends his time in between Northern California and Cabo San Lucas, Mexico, committing himself to his craft of freelance and website writing.