ࡱ>  l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~"؈ ~~ ؈ ~~8#܈ ~~7#܈ ~~<#܈ ~~3#܈ ~~4#܈ ~~83ffff̙̙3f3fff3f3f33333f33&Securities registered pursuant TABLE OF CONTENTSJ7Our Business ModeluMTX001HRdTX004HRt TX004HR (1) Pharmaceutical Regulation&We currently derive all of our &ZWe may not be able to complete &29 Even if we obtain regulatory _29 Even if we obtain (1)&The commercial success of our e&Product liability lawsuits coulhProduct liability (1)&.Delays in clinical trials are c&0Our success depends on how effi&AIf our efforts to protect the p%OYIf our efforts to protect (1)&]jIf we are sued for infringing i&~The market price of our common #The market price of our (1)&Some provisions of our charter &Market Information on Common St^Income Statement TX001HR (1) TX004HR (2)+ TX004HR (3)&;Research and Development Expens&LYear ended December 31 2017 com*_Operating ExpensesoOperating Expen (1)"ʂYear ended December 31 (1)V58 Operating Expenses58 Operating Ex (1)&Summary of Uses and Sources of DContractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV@70 PART IV (1)870 PART IV (2)n^70 PART IV (3)q71 72 73 SIGNATURES=~71 72 73 SIGNAT (1)&74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)pShareholders Equity* Cash FlowsHEarnings Per Share}XNOTE 3 INVENTORY":gNOTE 4 OTHER CURRENT ASSETS1yNOTE 5 FIXED ASSETS NET#NOTE 6 INTANGIBLE ASSETS NET$NOTE 6 INTANGIBLE ASSETS (1)$lNOTE 6 INTANGIBLE ASSETS (2)&NOTE 7 OTHER CURRENT LIABILITIE&Summary of our Warrant activity"Summary of our Warrant (1)& Options to Purchase Common Stoc-Options to Purchase (1)7NOTE 9 INCOME TAXESENOTE 9 INCOME T (1)"XNOTE 9 INCOME T (2)iOperating Lease&$yNOTE 13 SELECTED QUARTERLY FINA-NOTE 13 SELECTED (1)"@Subsidiaries of the Company&CERTIFICATION OF CHIEF EXECUTIV&շCERTIFICATION OF CHIEF FINANCIA&=SECTION 1350 CERTIFICATION OF CoSECTION 1350 CE (1) l  `  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??GTABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 6} !      TherapeuticsMD, Inc. 10-K 02/23/2018C;Securities registered pursuant to Section 12(b) of the Act:!Large accelerated filer ?Accelerated filer ?"  Non-accelerated filer ?# Smaller reporting company ?5 -(Do not check if a smaller reporting company)! Emerging growth Company ?  $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$,g[OCTH<=PF0*8X> @  l  7/6  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant Our Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } y } :}  7     TherapeuticsMD, Inc. 10-K 02/23/2018TABLE OF CONTENTSPART I    Item 1. Business~  Item 1A.  Risk Factors~ f Item 1B.! Unresolved Staff Comments~  Item 2.  Properties~ Item 3.Legal Proceedings~ Item 4.Mine Safety Disclosures~ PART IIItem 5.2*Market for the Registrant?s Common Equity,~ .&Related Stockholder Matters and Issuer&Purchases of Equity SecuritiesItem 6.Selected Financial Data~ Item 7.,$Management?s Discussion and Analysis~ 80of Financial Condition and Results of OperationsItem 7A.0(Quantitative and Qualitative Disclosures~  about Market RiskItem 8..&Financial Statements and Supplementary~   DataItem 9.5-Changes in and Disagreements with Accountants~ .&on Accounting and Financial DisclosureItem 9A.Controls and Procedures~ DlymCi2a=r.?M !"#$%&'()*+,-./0123456 Item 9B. Other Information~ !!!""PART III"###$Item 10.3$+Directors, Executive Officers and Corporate~ $%% Governance&Item 11.&Executive Compensation~ &'Item 12.0'(Security Ownership of Certain Beneficial~ '(5(-Owners and Management and Related Stockholder))Matters*Item 13.7*/Certain Relationships and Related Transactions,~ *+!+and Director Independence,Item 14..,&Principal Accounting Fees and Services~ ,---..PART IV.///0Item 15./0'Exhibits, Financial Statement Schedules~ 01Item 16.1Form 10-K Summary~ 1&23$4____________________________15)Created by Morningstar Document Research.06(http://documentresearch.morningstar.com/2qM8wF*=PF0*8X> @665544 l  )LJM  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTS TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} 8 )     TherapeuticsMD, Inc. 10-K 02/23/2018Our Business Model ?/'Our hormone therapy drug candidates are  1 )designed to use the lowest effective dose  " for the shortest duration.     ?0 (We believe the attributes of our dietary  3 +supplements will result in greater consumer4,acceptance and satisfaction than competitive3+products while offering the highest quality4,products incorporating patented ingredients,2*such as Quatrefolic ? , FOLMAX?, FePlus?,2*and pur-DHA?. All of our prenatal vitamins.&are gluten-, sugar-, and lactose-free. ?2*We strive to improve our existing products7/and develop new products to generate additional4,revenue through our existing sales channels. ?1)We believe health care providers are able.&to offer alternatives to patients that1)meet the patient?s individual nutritional4,and financial requirements and help patients5-realize cost savings over competing products. ?0(Improved patient education, a high levelD lxl q$6J:x.@ !"#$%&'(  / 'of patient compliance, and reduced cost!!4!,of products all result in lower cost of care""6".for payors and improved outcomes for patients.###$%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/ne=PF0*8X> @((''&& l  )^a/d  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $}  } m} <} m}  )     TherapeuticsMD, Inc. 10-K 02/23/2018TX-001HR6 .Replenish Trial Co-Primary Efficacy Endpoints:0 (Mean Change in Frequency and Severity of4 ,Hot Flashes Per Week Versus Placebo at Weeks% 4 and 12, VMS-MITT Population      Estradiol/Progesterone 1 mg/100 mg 0.5 mg/100 mg 0.5 mg/50 mg 0.25 mg/50 mgPlacebo (n = 141) (n = 149) (n = 147) (n = 154) (n = 135) Frequency%Week 4 P-value versus placebo9v??5^I ?MbP? ?&Week 12 P-value versus placeboMb`? ?Severity%Week 4 P-value versus placeboX9v?{Gzt?Dl?? ?&Week 12 P-value versus placebo;On?~jt? ?0(Replenish Trial Primary Safety Endpoint:6.Incidence of Consensus Endometrial HyperplasiaD] lvj0S u-p(bL !"#$%&'(2 *or Malignancy up to 12 months, Endometrial!Safety Population?""""""#Endometrial Hyperplasia# 0% (0/280)# 0% (0/303)# 0% (0/306)# 0% (0/274)# 0% (0/92)$%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/d=PF0*8X> @Z ((''&&!!      l  Dt  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } U} $ } } $ } $}  $ } } $                    TherapeuticsMD, Inc. 10-K 02/23/2018TX-004HR25 mcg10 mcg  4 mcg  Superficial Cells  P    P    P  Parabasal Cells  P    P    P   Vaginal pH  P    P    P  Severity of Dyspareunia  P    P     P = 0.0149  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(TvI WK?=PF0*8X> @*    l  0  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HRPharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } I } $ }  } $ }  } $ }  } } $                    TherapeuticsMD, Inc. 10-K 02/23/2018TX-004HR25 mcg10 mcg   4 mcg  Week 2   P = 0.0105     P = 0.0019     P = 0.026  Week 6  P    P = 0.0009     P = 0.0069  Week 8  P   P    P = 0.0003  Week 12  P   P    P = 0.0149  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tv"nbV.=PF0*8X> @   l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} :      TherapeuticsMD, Inc. 10-K 02/23/2018!Pharmaceutical Regulation ?/'completion of or reference to extensive  4 ,preclinical laboratory tests and preclinical  3 +animal studies, all performed in accordance  0 (with the FDA?s Good Laboratory Practice,   or GLP, regulations;  ?3 +submission to the FDA of an IND application3+under which the holder may begin conducting0(human clinical trials, provided that the4,FDA does not object; the IND must be updated annually; ?3+performance of adequate and well-controlled.&human clinical trials to establish the1)safety and efficacy of the drug candidate)!for each proposed indication; and ?80submission to the FDA of an NDA after completion'of all pivotal clinical trials.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>#0}qez.W >b =PF0*8X> @ l  (  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} : (     TherapeuticsMD, Inc. 10-K 02/23/2018kcWe currently derive all of our revenue from sales of our women s health care products, and our fail ?1)the presence of new or existing competing  - %products, including generic copies of  2 *our prescription prenatal vitamin products  5 -that are not our authorized generic products;     ?3 +any supply or distribution problems arising6.with any of our manufacturing and distributionstrategic partners; ?4,changed or increased regulatory restrictions)!or regulatory actions by the FDA; ?/'changes in health care laws and policy,-%including changes in requirements for,$rebates, reimbursement, and coverage( by federal health care programs; ?5-the impact or efficacy of any price increases'we may implement in the future; ?5-changes to our labels and labeling, including3+new safety warnings or changes to our boxed4,warning, that further restrict how we market"and sell our products; andD l?3'6qs. u-s0 k !"#$%&'   ! !?8!0acceptance of our products as safe and effective""#"by physicians and patients.#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/H<0=PF0*8X> @''&&%% l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} I;      TherapeuticsMD, Inc. 10-K 02/23/2018kcWe may not be able to complete the development and commercialization of our hormone therapy drug ca ?7/significantly delay, scale back, or discontinue  5 -our product development and commercialization   efforts;     ?2 *seek collaborators for our hormone therapy  0 (drug candidates at an earlier stage than0(otherwise would be desirable or on terms4,that are less favorable than might otherwisebe the case; and ?2*license, potentially on unfavorable terms,91our rights to our hormone therapy drug candidates/'that we otherwise would seek to develop#or commercialize ourselves.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:\?3'vJ&?Hi]Q)=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete 29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} 7      TherapeuticsMD, Inc. 10-K 02/23/2018kc29 Even if we obtain regulatory approval for our hormone therapy drug candidates, we will still fac ?3+conduct an investigation into our practices  ) !and any alleged violation of law;     ?1 )issue warning letters or untitled letters  1 )asserting that we are in violation of the   law; ?6.seek an injunction or impose civil or criminal$penalties or monetary fines; ?0(suspend or withdraw regulatory approval; ?0(require that we suspend or terminate any ongoing clinical trials;$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:?3'b{(wS=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} :      TherapeuticsMD, Inc. 10-K 02/23/2018kc29 Even if we obtain regulatory approval for our hormone therapy drug candidates, we will still fac ?.&refuse to approve pending applications  / 'or supplements to applications filed by   us;     ?5 -suspend or impose restrictions on operations,  8 0including costly new manufacturing requirements; ?2*seize or detain products, refuse to permit4,the import or export of products, or require+#us to initiate a product recall; or ?.&exclude us from providing our products3+to those participating in government health5-care programs, such as Medicare and Medicaid,3+and refuse to allow us to enter into supply2*contracts, including government contracts.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@GD?3'^:p!f{,z=PF0*8X> @ l  1 E  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} = 1     TherapeuticsMD, Inc. 10-K 02/23/2018kcThe commercial success of our existing products and our hormone therapy drug candidates that we dev ?.&the clinical indications for which our  5 -hormone therapy drug candidates are approved,    if at all;     ?. &acceptance by physicians and payors of  7 /each product as a safe and effective treatment; ?80the cost of treatment in relation to alternative.&treatments, including numerous genericdrug products; ?;3the relative convenience and ease of administration80of our products in the treatment of the symptoms$for which they are intended; ?4,the availability and efficacy of competitivedrugs; ?0(the effectiveness of our sales force andmarketing efforts; ?3+the extent to which the product is approved1)for inclusion on formularies of hospitals'and managed care organizations;D@ l?3'Q-kvfzD  !"#$%&'()*+,-./0   ! !?1!)the availability of coverage and adequate""/"'reimbursement by third parties, such as##1#)insurance companies and other health care$$6$.payors, or by government health care programs,%%(% including Medicare and Medicaid;&&&' '?.'&limitations or warnings contained in a((,($product?s FDA-approved labeling; and)))* *?/*'prevalence and severity of adverse side+++effects.,-$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&@C`<9 =PF0*8X> @00//.. l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our eProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} I;      TherapeuticsMD, Inc. 10-K 02/23/2018kcProduct liability lawsuits could divert our resources, result in substantial liabilities and reduce ?3+the inability to commercialize our products  + #or hormone therapy drug candidates;     ?3 +difficulty recruiting subjects for clinical  . &trials or withdrawal of these subjects  $ before a trial is completed; ?91labeling, marketing, or promotional restrictions; ?'product recalls or withdrawals;$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2?3'`b d=PF0*8X> @ l  "  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coul!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} I; "     TherapeuticsMD, Inc. 10-K 02/23/2018kcProduct liability lawsuits could divert our resources, result in substantial liabilities and reduce ?5-decreased demand for our products or products  * "that we may develop in the future;     ? loss of revenue;     ?! injury to our reputation; ?3+initiation of investigations by regulators; ?/'costs to defend the related litigation; ?0(a diversion of management?s time and our resources; ?91substantial monetary awards to trial participants or patients; ?-%exhaustion of any available insurance&and our capital resources; and ?%a decline in our stock price.$____________________________D;l?3'_*T0sE!w-y !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X> @!!  l  *r-^0  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} : *     TherapeuticsMD, Inc. 10-K 02/23/2018kcDelays in clinical trials are common for many reasons, and any such delays could result in increase ?2*delays in reaching agreement on acceptable  0 (terms with prospective contract research  2 *organizations, or CROs, and clinical trial   sites;     ?1 )delays in obtaining required IRB approval at each site; ?.&delays in identifying, recruiting, and1)training suitable clinical investigators; ?.&delays in recruiting suitable patients"to participate in a trial; ?80delays in having patients complete participation/'in a trial or return for post-treatment follow-up; ?1)clinical sites dropping out of a trial to$the detriment of enrollment; ?'time required to add new sites; ?/'delays in obtaining sufficient suppliesD l?3'2eA:8 X4 !"#$%&'()  . &of clinical trial materials, including!!!suitable API; or"""# #?3#+delays resulting from negative or equivocal$$%$findings of DSMB for a trial.%&$'____________________________1()Created by Morningstar Document Research.0)(http://documentresearch.morningstar.com/^=PF0*8X> @))(('' l  ,A  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} $4      TherapeuticsMD, Inc. 10-K 02/23/2018f^Our success depends on how efficiently we respond to changing consumer preferences and demand. ?-%accurately anticipate customer needs;     ?* "innovate and develop new products;     ?/ 'successfully commercialize new products   in a timely manner; ?/'competitively price our products in themarket; ?3+procure and maintain products in sufficient+#volumes and in a timely manner; and ?0(differentiate our product offerings from!those of our competitors.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<D8, kGT)nJ=PF0*8X> @ l  ,TX  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} = ,     TherapeuticsMD, Inc. 10-K 02/23/2018jbIf our efforts to protect the proprietary nature of the intellectual property covering our hormone ?2*the patent applications that we have filed  3 +may fail to result in issued patents in the  . &United States or in foreign countries;     ?8 0patents issued or licensed to us or our partners  / 'may be challenged or discovered to have1)been issued on the basis of insufficient,-%incomplete, or incorrect information,5-and thus held to be invalid or unenforceable; ?1)the scope of any patent protection may be.&too narrow to exclude competitors from5-developing or designing around these patents; ?1)we or our licensors were not the first to2*make the inventions covered by each of our7/issued patents and pending patent applications; ?1)we or our licensors may not have been the3+first inventors to file patent applications3+for these technologies in the United States91or were not the first to file patent applications.&directed to these technologies abroad;D l@4(~4p#e|X iEY !"#$%&'()*+  ?; 3we may fail to comply with procedural, documentary,!!1!)fee payment, and other similar provisions""."&during the patent application process,##0#(which can result in abandonment or lapse$$6$.of the patent or patent application, resulting%%5%-in partial or complete loss of patent rights;&&&'($)____________________________1*)Created by Morningstar Document Research.0+(http://documentresearch.morningstar.com/[s"=PF0*8X> @++**)) l  i  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} 6      TherapeuticsMD, Inc. 10-K 02/23/2018jbIf our efforts to protect the proprietary nature of the intellectual property covering our hormone ?5-future drug candidates may not be patentable;     ?1 )others may claim rights or ownership with  / 'regard to patents and other proprietary  ' rights that we hold or license;    ?0(delays in development, testing, clinical0(trials, and regulatory review may reduce0(the period of time during which we could/'market our drug candidates under patentprotection; and ?2*we may fail to timely apply for patents on%our technologies or products.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:6@4(X Y vCwO=PF0*8X> @ l  $,}a~  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} : $     TherapeuticsMD, Inc. 10-K 02/23/2018kcIf we are sued for infringing intellectual property rights of third parties, litigation will be cos ?2*substantial damages for past infringement,  6 .which we may have to pay if a court determines  2 *that our products or technologies infringe  2 *a competitor?s patent or other proprietary   rights;    ?80a court prohibiting us from selling or licensing2*our technologies or future products unless/'the third party licenses its patents or6.other proprietary rights to us on commercially2*reasonable terms, which it is not requiredto do; ?5-if a license is available from a third party,0(we may have to pay substantial royalties4,or lump sum payments or grant cross licenses2*to our patents or other proprietary rights"to obtain that license; or ?/'redesigning our products so they do not2*infringe, which may not be possible or may1)require substantial monetary expenditures and time.D l?3'z,:Oaw9{. !"# $!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/ <=PF0*8X> @##""!! l  $q  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing iThe market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} I; $     TherapeuticsMD, Inc. 10-K 02/23/2018kcThe market price of our common stock may be highly volatile, and you could lose all or part of your ?4,any delay in filing our NDAs for our hormone  / 'therapy drug candidates and any adverse  4 ,development or perceived adverse development  5 -with respect to the FDA?s review of the NDAs,  2 *including the FDA?s issuance of a ?refusal  3 +to file? letter or a request for additional information; ?1)changes in laws or regulations applicable7/to our products or proposed products, including2*clinical trial requirements for approvals; ?-%unanticipated serious safety concerns1)related to the use of our hormone therapydrug candidates; ?0(a decision to initiate a clinical trial,91not to initiate a clinical trial, or to terminate#an existing clinical trial; ?0(any delay of our phase 3 clinical trials0(for our hormone therapy drug candidates;Dc l?3'/ALCI M !"# $!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/ <=PF0*8X> @##""!! l  T  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common !Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} = T     TherapeuticsMD, Inc. 10-K 02/23/2018kcThe market price of our common stock may be highly volatile, and you could lose all or part of your ?5-adverse results or delays in clinical trials;     ?1 )the inability to obtain adequate clinical  6 .supply for our hormone therapy drug candidates  7 /or the inability to do so at acceptable prices;    ?%adverse regulatory decisions; ?80the introduction of new products or technologies)!offered by us or our competitors; ?1)the effectiveness of our or our potential-%strategic partners? commercializationefforts; ?.&developments concerning our sources of6.manufacturing supply and any commercializationstrategic partners; ?5-the perception of the pharmaceutical industry0(by the public, legislatures, regulators,%and the investment community; ?/'disputes or other developments relatingDD l?3'WL(j89 !"#$%&'()*+,-./0123456789:;<=>?  1 )to proprietary rights, including patents,!!.!&litigation matters, and our ability to""6".obtain patent protection for our technologies;###$ $?/$'the inability to effectively manage our%%%growth;&&&' '?5'-actual or anticipated variations in quarterly(((operating results;)))* *?3*+the failure to meet or exceed the estimates++4+,and projections of the investment community;,,,- -?2-*the overall performance of the U.S. equity..2.*markets and general political and economic/// conditions;0001 1?21*announcements of significant acquisitions,22/2'strategic partnerships, joint ventures,33830or capital commitments by us or our competitors;4445 5?15)additions or departures of key scientific66 6or management personnel;7778 8?38+adverse market reaction to any indebtedness9929*we may incur or securities we may issue in::: the future;;;;< <?;<3sales of our common stock by us or our stockholders===in the future;>>>? ??.?&significant lawsuits, including patentD2 li|X\ K^ \8kG@ABCDEFGHIJKLMNOPQRS@@"@or stockholder litigation;AAAB B?3B+changes in the market valuations of similarCCC companies;D D?/D'the trading volume of our common stock;EEEF F?/F'increases in our common stock availableGG7G/for sale upon expiration of lock-up agreements;HHHI I?3I+effects of natural or man-made catastrophicJJ/J'events or other business interruptions;KK KandLLLM M?2M*other events or factors, many of which areNNNbeyond our control.OP$Q____________________________1R)Created by Morningstar Document Research.0S(http://documentresearch.morningstar.com/,|N dR+uiA=PF0*8X> @SSRRQQ l     dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } $} 6      TherapeuticsMD, Inc. 10-K 02/23/2018kcSome provisions of our charter documents and Nevada law may have anti-takeover effects that could d ?1)authorizing the issuance of ?blank check?  / 'preferred stock that could be issued by  5 -our board of directors to increase the number  3 +of outstanding shares and thwart a takeover   attempt;  ?5 -prohibiting cumulative voting in the election1)of directors, which would otherwise allow/'less than a majority of stockholders to&elect director candidates; and ?/'advance notice provisions in connection3+with stockholder proposals that may prevent1)or hinder any attempt by our stockholders1)to bring business to be considered by our0(stockholders at a meeting or replace ourboard of directors.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>?0?3'1df~1n=PF0*8X> @ l  ;  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter Income Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } } $                           TherapeuticsMD, Inc. 10-K 02/23/2018*"Market Information on Common Stock High Low~          Fourth Quarter  zG@   \(\@   Third Quarter   ףp= @   )\(@  Second Quarter   @    @   First Quarter  HzG@   Q@ ~ Fourth QuarterQ@(\@ Third Quarterq= ףp!@Q@Second QuarterGz"@@ First Quarterףp= W$@(\@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6Pth\%Jq(MA5 =PF0*8X> @         l  )3  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common St TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0} $ }  } $ }  }  $ } } $ }  } $ }  } $ )     TherapeuticsMD, Inc. 10-K 02/23/2018Income StatementYear Ended December 31,  ~   ~   ~ ~  ~ z  ~ v                 - %Consolidated Statements of Operations                     Data:  Revenue, net ~ *  ~ r.  ~ :  ~   ~ " Cost of goods sold~ 6)~ fA  ~  jF  ~ b9~  Gross profit~ ~   ~  V  ~ j~ jOperating expenses:     *"Sales, general, and administration~ ~ R"  ~    ~ Y~ ) Research and 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on Common StIncome Statement TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $}  } m} <} m}  (     TherapeuticsMD, Inc. 10-K 02/23/2018TX-001HR6.Replenish Trial Co-Primary Efficacy Endpoints:0 (Mean Change in Frequency and Severity of4 ,Hot Flashes Per Week Versus Placebo at Weeks% 4 and 12, VMS-MITT Population            Estradiol/Progesterone 1 mg/100 mg 0.5 mg/100 mg 0.5 mg/50 mg 0.25 mg/50 mgPlacebo (n = 141) (n = 149) (n = 147) (n = 154) (n = 135) Frequency%Week 4 P-value versus placebo9v??5^I ?MbP? ?&Week 12 P-value versus placeboMb`? ?Severity%Week 4 P-value versus placeboX9v?{Gzt?Dl?? ?&Week 12 P-value versus placebo;On?~jt? ?0(Replenish Trial Primary Safety Endpoint:6.Incidence of Consensus Endometrial Hyperplasia2*or Malignancy up to 12 months, EndometrialD lv<_9|4#nXi !"#$%&' Safety Population?!!!!!!"Endometrial Hyperplasia" 0% (0/280)" 0% (0/303)" 0% (0/306)" 0% (0/274)" 0% (0/92)#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/? =PF0*8X> @Z ''&&%%     l  Z+  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } U} $ } $} $ } $}  $ } } $                    TherapeuticsMD, Inc. 10-K 02/23/2018TX-004HR25 mcg10 mcg   4 mcg  Superficial Cells   P    P    P  Parabasal Cells   P    P    P   Vaginal pH   P    P    P  Severity of Dyspareunia   P    P     P = 0.0149  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tv='=PF0*8X> @2    l  :  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } I } $ }  } $ }  } $ }  } $      TherapeuticsMD, Inc. 10-K 02/23/2018TX-004HR25 mcg10 mcg 4 mcg Week 2   P = 0.0105   P = 0.0019   P = 0.026  Week 6  P   P = 0.0009   P = 0.0069  Week 8  P  P   P = 0.0003  Week 12  P  P   P = 0.0149  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tv" =PF0*8X> @ l  K  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $} $ }  } $ }  }  $ } $} $                       TherapeuticsMD, Inc. 10-K 02/23/2018)!Research and Development Expenses Years Ended December 31,   ~   ~   ~ ~    (000s)  TX-001HR ~ .  ~   ~ .  TX-002HR   ?    ?   ~ ^  TX-004HR  ~ }   ~    ~ 1 &Other research and development~ vd~   ~  N, &Total research and development~ ~ J ~  e $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/. ui]a3-!=PF0*8X> @r          l  E^  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development ExpensOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } a} $ }  } $ }  }  $ } } $                        TherapeuticsMD, Inc. 10-K 02/23/2018OGYear ended December 31, 2017 compared with year ended December 31, 2016 Years Ended December 31,    ~   ~    Change    (000s)  Revenue ~ *  ~ r.  ~   Cost of goods sold  ~ 6)   ~ fA   ~   Operating expenses  ~    ~ Bo   ~ * Operating loss~ C~ }  ~  F  Other income~  ~   ~   Net loss~ N~  ~  Z $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0[OC7U2NB6=PF0*8X> @r          l  6o  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 2} $ } $} $} $ } $} $                       TherapeuticsMD, Inc. 10-K 02/23/2018Operating Expenses Years Ended December 31,  ~   ~  $ Human resource related costs  ~ n %  ~ ^ %2 *Sales and marketing costs, excluding human  ~ Z %  ~ 2 % resource costs. &Product research and development costs  ~  %  ~  %.&Professional fees and consulting costs~  %~  % Other operating expenses~ " %~ & %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.xl$>X=PF0*8X> @2   l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesYear ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 6} $ }  } $ }  }  $ } U} $                         TherapeuticsMD, Inc. 10-K 02/23/2018Operating Expenses Years Ended December 31,    ~   ~    Change    (000s) & Research and development costs ~   ~ J  ~  $ Human resource related costs  ~ B   ~ ^   ~  5 -Sales and marketing, excluding human resource  ~ z2   ~ F   ~ 6k  costs)!Professional and consulting costs~ [~ R  ~    Other operating expenses~ x~   ~    Total operating expenses~ ~ Bo ~  * $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2nxl T+W=PF0*8X> @r          l  q  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } a} $ }  } $ }  }  $ } } $                        TherapeuticsMD, Inc. 10-K 02/23/2018OGYear ended December 31, 2016 compared with year ended December 31, 2015 Years Ended December 31,    ~   ~ ~   Change    (000s)  Revenue ~ r.  ~ :  ~   Cost of goods sold  ~ fA   ~ jF   ~   Operating expenses  ~ Bo   ~ n'   ~ G Operating loss~ }~   ~    Other income~ ~   ~  & Net loss~ ~  ~    $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0[OC7U2NB6=PF0*8X> @r          l  b  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 2} $ } $} $} $ } $} $                       TherapeuticsMD, Inc. 10-K 02/23/201858 Operating Expenses Years Ended December 31,  ~   ~ ~ $ Human resource related costs  ~ ^ %  ~ > %2 *Sales and marketing costs, excluding human  ~ 2 %  ~  % resource costs. &Product research and development costs  ~  %  ~  %.&Professional fees and consulting costs~  %~  % Other operating expenses~ & %~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.ui!;U=PF0*8X> @2   l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 6} $ }  } $ }  }  $ } } $                         TherapeuticsMD, Inc. 10-K 02/23/201858 Operating Expenses Years Ended December 31,    ~   ~ ~   Change    (000s) & Research and development costs ~ J  ~ e  ~ 2 $ Human resource related costs  ~ ^   ~    ~  5 -Sales and marketing, excluding human resource  ~ F   ~ \   ~ j  costs)!Professional and consulting costs~ R~ 9  ~    Other operating expenses~ ~ fB  ~  G  Total operating expenses~ Bo~ n' ~  G $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2qui Q(T=PF0*8X> @r          l  U  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 8}  $                     TherapeuticsMD, Inc. 10-K 02/23/2018-%Summary of (Uses) and Sources of CashYear Ended December 31,   ~   ~   ~ ~              3 +Net cash flows used in operating activities ~   ~   ~ f' 3 +Net cash flows used in investing activities ~ r  ~ _  ~ ^U 7 /Net cash flows provided by financing activities ~ 0N  ~    ~ * $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*,h}qeYO=PF0*8X> @            l  )  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Summary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } !} $ }  }  $                   TherapeuticsMD, Inc. 10-K 02/23/2018Contractual ObligationsPayments Due By Period   Total    Less than   1-3 Years    4-5 Years       1 Year# Operating Lease Obligations ~  V ~ j: ~ F  ~ ^9  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@sg e pdX0=PF0*8X> @Z          l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 1} $      TherapeuticsMD, Inc. 10-K 02/23/2018Summary CompensationItem 11.Executive Compensation  $ ____________________________1 )Created by Morningstar Document Research.0 (http://documentresearch.morningstar.com/ vj4(=PF0*8X> @ l  y  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary Compensation 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 1} 6      TherapeuticsMD, Inc. 10-K 02/23/2018Beneficial OwnershipItem 12.0(Security Ownership of Certain Beneficial 5 -Owners and Management and Related Stockholder  Matters  $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$+,vj"~=PF0*8X> @ l  M\j  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } I } $ } a} $ } 8 M     TherapeuticsMD, Inc. 10-K 02/23/2018 70 PART IVExhibit Date Description  @   July 6, 2009 2 *Agreement and Plan of Reorganization among     1 )Croff Enterprises, Inc., AMHN Acquisition     1 )Corp., America?s Minority Health Network,     , $Inc., and the Major Shareholders (1)  @   June 11, 2010 2 *Agreement and Plan of Reorganization among3+AMHN, Inc., SHN Acquisition Corp., Spectrum6.Health Network, Inc., and the Sole Shareholder,$of Spectrum Health Network, Inc. (2)ffffff@October 25, 20071)Croff Enterprises, Inc. Plan of Corporate'Division and Reorganization (3)333333@ July 18, 20115-Agreement and Plan of Merger among VitaMedMD,1)LLC, AMHN, Inc., and VitaMed Acquisition,LLC (4)@ July 20, 20102*Articles of Conversion of AMHN, Inc. filed"in the State of Nevada (5) @ July 20, 2010/'Articles of Incorporation of AMHN, Inc.( filed in the State of Nevada (5)ffffff @ n/a/'Composite Amended and Restated Articles7/of Incorporation of the Company, as amended (6)333333 @ n/a Bylaws of AMHN, Inc. (7) @December 17, 20154,First Amendment to Bylaws of the Company (8)ffffff@ n/a/'Form of Certificate of Common Stock (9)333333$@ n/a2*Form of Common Stock Purchase Warrant (10)D lt!DLj|4Mct  !"#$%&'()*+,-./0123456789:;<=>?  10.2*  n/a 4 ,Form of Non-Qualified Stock Option Agreement!!!!!~ !" "10.3*" "n/a"1")Amended and Restated 2012 Stock Incentive###### Plan (11)$ $10.4*$ $n/a$-$%2009 Long Term Incentive Compensation%%%%%%Plan, as amended (12)&&%@&&October 23, 2011&7&/Common Stock Purchase Warrant to Lang Naturals,'''''' Inc. (13)((333333%@((February 24, 2012(2(*Form of Common Stock Purchase Warrant (14)))ffffff%@))April 17, 2012)-)%Master Services Agreement between the*****3*+Company and Sancilio and Company, Inc. (15)++%@++ May 17, 2012+0+(Consulting Agreement between the Company,,,,,+,#and Sancilio and Company, Inc. (16)--%@--September 26, 2012---%Form of Securities Purchase Agreement.....~ .//10.10*//November 8, 2012/)/!Form of Employment Agreement (18)00Q8$@00January 31, 20130-0%Common Stock Purchase Warrant, issued11111'1to Plato ? Associates, LLC (19)22= ףp=$@22 May 7, 2013202(Consulting Agreement between the Company33333+3#and Sancilio and Company, Inc. (20)4410.13*44 May 8, 2013404(Agreement to Forfeit Non-Qualified Stock55555.5&Options between the Company and Robert666666G. Finizio (22)77HzG$@77 May 16, 2013717)Lease between the Company and 6800 Broken888888Sound LLC (23)99L$@99February 18, 2015949,First Amendment to Lease between the Company:::::':and 6800 Broken Sound, LLC (24);;RQ$@;;April 26, 2016;5;-Second Amendment to Lease between the Company<<<<<'<and 6800 Broken Sound, LLC (25)==ףp= W$@==October 4, 2016=4=,Third Amendment to Lease between the Company>>>>>'>and 6800 Broken Sound, LLC (26)??10.18*??December 17, 2015?0?(Employment Agreement between the CompanyDl:p7CV2Ci!1@ABCDEFGHIJKL@@@@@@and Brian Bernick (8)AA10.19*AADecember 17, 2015A0A(Employment Agreement between the CompanyBBBBBBand Michael Donegan (8)CC10.20*CCDecember 17, 2015C0C(Employment Agreement between the CompanyDDDDDDand Mitchel Krassan (8)E E21.1?EEFebruary 23, 2018E#ESubsidiaries of the CompanyF F23.1?FFFebruary 23, 2018F&FConsent of Grant Thornton, LLPGGGGGGHI$J____________________________1K)Created by Morningstar Document Research.0L(http://documentresearch.morningstar.com/6^Z=PF0*8X> @LLKKJJ l  &Z6%8  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } y } $ } 0} $ } 7 &     TherapeuticsMD, Inc. 10-K 02/23/2018 70 PART IVExhibit Date Description  31.1?  February 23, 2018 0 (Certification of Chief Executive Officer     6 .pursuant to Rule 13a-14(a) and Rule 15d-14(a),     1 )promulgated under the Securities Exchange      Act of 1934, as amended  31.2?  February 23, 2018 0 (Certification of Chief Financial Officer6.pursuant to Rule 13a-14(a) and Rule 15d-14(a),1)promulgated under the Securities ExchangeAct of 1934, as amended 32.1?February 23, 20180(Certification pursuant to U.S.C. Section0(1350, as adopted pursuant to Section 906)!of the Sarbanes-Oxley Act of 2002 32.2?February 23, 20183+Certification pursuant to 18 U.S.C. Section0(1350, as adopted pursuant to Section 906)!of the Sarbanes-Oxley Act of 2002101.INS? n/aXBRL Instance Document101.SCH? n/a/'XBRL Taxonomy Extension Schema Document101.CAL? n/a4,XBRL Taxonomy Extension Calculation LinkbaseDocument101.DEF? n/a3+XBRL Taxonomy Extension Definition LinkbaseInstance Document101.LAB? n/a.&XBRL Taxonomy Extension Label LinkbaseInstance Document101.PRE? n/a,$XBRL Taxonomy Extension PresentationD ltJN~&T[ 4 !"#$%     " Linkbase Instance Document!"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/d^=PF0*8X> @%%$$## l  XKV]  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } U} = X     TherapeuticsMD, Inc. 10-K 02/23/2018 70 PART IV */'Indicates a contract with management or ) !compensatory plan or arrangement. ? Filed herewith.~ 2 *Filed as an exhibit to Form 8-K filed with 8 0the Commission on July 10, 2009 and incorporated 5 -herein by reference (SEC File No. 000-16731).~ 2*Filed as an exhibit to Form 8-K filed with80the Commission on June 14, 2010 and incorporated5-herein by reference (SEC File No. 000-16731).~ 5-Filed as an exhibit to Form 10-K for the year91ended December 31, 2007 filed with the Commission1)on May 1, 2008 and incorporated herein by+#reference (SEC File No. 000-16731).~ 2*Filed as an exhibit to Form 8-K filed with80the Commission on July 21, 2011 and incorporated5-herein by reference (SEC File No. 000-16731).~ 4,Filed as an exhibit to Form 10-Q for quarter5-ended June 30, 2010 filed with the Commission1)on August 3, 2010 and incorporated herein.&by reference (SEC File No. 000-16731).~ 4,Filed as an exhibit to Form 10-Q for quarter5-ended June 30, 2015 filed with the Commission1)on August 7, 2015 and incorporated herein.&by reference (SEC File No. 001-00100).D@ lt4Gv1`%TJ !"#$%&'()*+,-./0123456789:;<=>?~ 9 1Filed as an exhibit to Definitive 14C Information!.!&Statement filed with the Commission on"0"(June 29, 2010 and incorporated herein by#+##reference (SEC File No. 000-16731).~ $2$*Filed as an exhibit to Form 8-K filed with%/%'the Commission on December 22, 2015 and&-&%incorporated herein by reference (SEC''File No. 001-00100).~ (2(*Filed as an exhibit to Form S-3 filed with);)3the Commission on January 25, 2013 and incorporated*6*.hereby by reference (SEC File No. 333-186189).~ +2+*Filed as an exhibit to Form 8-K filed with,;,3the Commission on October 11, 2011 and incorporated-5--herein by reference (SEC File No. 000-16731).~ .2.*Filed as an exhibit to Form 8-K filed with/:/2the Commission on August 22, 2013 and incorporated050-herein by reference (SEC File No. 001-00100).~ 151-Filed as an exhibit to Registration Statement202(on Form S-8 filed with the Commission on303(October 15, 2013 and incorporated herein4/4'by reference (SEC File No. 333-191730).~ 525*Filed as an exhibit to Form 8-K filed with6;63the Commission on October 24, 2011 and incorporated757-herein by reference (SEC File No. 000-16731).~ 828*Filed as an exhibit to Form 8-K filed with9/9'the Commission on February 24, 2012 and:-:%incorporated herein by reference (SEC;;File No. 000-16731).~ <4<,Filed as an exhibit to Form 10-Q for quarter=5=-ended June 30, 2012 filed with the Commission>1>)on August 9, 2012 and incorporated herein?.?&by reference (SEC File No. 000-16731).D lw7y<;g#M Jv7C@ABCDEFGHIJKLMNOPQRSTUVW~ @5@-Filed as an exhibit to Form 10-K for the yearA/A'ended December 31, 2015, filed with theB8B0Commission on February 26, 2016 and incorporatedC5C-herein by reference (SEC File No. 001-00100).~ D2D*Filed as an exhibit to Form 8-K filed withE:E2the Commission on October 2, 2012 and incorporatedF5F-herein by reference (SEC File No. 000-16731).~ G4G,Filed as an exhibit to Form 10-Q for quarterH/H'ended September 30, 2012 filed with theI8I0Commission on November 13, 2012 and incorporatedJ5J-herein by reference (SEC File No. 000-16731).~ K2K*Filed as an exhibit to Form 8-K filed withL;L3the Commission on February 6, 2013 and incorporatedM5M-herein by reference (SEC File No. 000-16731).~ N4N,Filed as an exhibit to Form 10-Q for quarterO6O.ended March 31, 2013 filed with the CommissionP/P'on May 10, 2013 and incorporated hereinQ.Q&by reference (SEC File No. 001-00100).RRST$U____________________________1V)Created by Morningstar Document Research.0W(http://documentresearch.morningstar.com/4vz2_My4i+=PF0*8X> @WWVVUU l  "op  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } } I; "     TherapeuticsMD, Inc. 10-K 02/23/2018 70 PART IV~ 4,Filed as an exhibit to Form 10-Q for quarter 5 -ended June 30, 2013 filed with the Commission 1 )on August 7, 2013 and incorporated herein . &by reference (SEC File No. 001-00100).~ 5 -Filed as an exhibit to Form 10-K for the year 9 1ended December 31, 2014 filed with the Commission1)on March 12, 2015 and incorporated herein.&by reference (SEC File No. 001-00100).~ 4,Filed as an exhibit to Form 10-Q for quarter6.ended March 31, 2016 filed with the Commission1)on May 5, 2016 and incorporated herein by+#reference (SEC File No. 001-00100).~ 4,Filed as an exhibit to Form 10-Q for quarter/'ended September 30, 2016 filed with the7/Commission on November 5, 2016 and incorporated5-herein by reference (SEC File No. 001-00100)."Item 16. Form 10-K Summary None.$____________________________Dlt.j#[S B* !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X> @!!  l  }  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } U      TherapeuticsMD, Inc. 10-K 02/23/201871 72 73 SIGNATURESDate: February 23, 2018THERAPEUTICSMD, INC.    /s/ Robert G. Finizio  Robert G. Finizio  Chief Executive Officer $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Twk(sK=PF0*8X> @ l  /  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ }  } $ } y } $ } } $ /                                 TherapeuticsMD, Inc. 10-K 02/23/201871 72 73 SIGNATURES SignatureCapacity  Date        /s/ Robert G. Finizio ) !Chief Executive Officer, Director  February 23, 2018 Robert G. Finizio % (Principal Executive Officer)      " /s/ John C.K. Milligan, IV & President, Secretary, Director  February 23, 2018John C.K. Milligan, IV /s/ Daniel A. Cartwright*"Chief Financial Officer, TreasurerFebruary 23, 2018Daniel A. Cartwright4,(Principal Financial and Accounting Officer)/s/ Tommy G. ThompsonChairmanFebruary 23, 2018Tommy G. Thompson/s/ Brian BernickDirectorFebruary 23, 2018 Brian Bernick/s/ J. Martin CarrollDirectorFebruary 23, 2018 J. Martin Carroll/s/ Cooper C. CollinsDirectorFebruary 23, 2018 Cooper C. Collins"/s/ Robert V. LaPenta, Jr.DirectorFebruary 23, 2018D lwkmNWXa%a%a ! " # $ % & ' ( ) * + , - .  Robert V. LaPenta, Jr     !!!!!"/s/ Jules Musing""Director""February 23, 2018# Jules Musing#####$$$$$%/s/ Angus C. Russell%%Director%%February 23, 2018&Angus C. Russell&&&&'''''(/s/ Nicholas Segal((Director((February 23, 2018)Nicholas Segal))))))*+$,____________________________1-)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/"gr x=PF0*8X> @1.. -- ,, ))(((((( &&%%%%%% ##""""""                l  "ܪ  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1) Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $4}  "     TherapeuticsMD, Inc. 10-K 02/23/2018( 74 INDEX TO FINANCIAL STATEMENTS Page  / 'Report of Independent Registered Public F-2 Accounting Firm  2 *Consolidated Balance Sheets as of December F-331, 2017 and 2016-%Consolidated Statements of Operations F-43+for the years ended December 31, 2017, 2016and 20150(Consolidated Statements of Stockholders? F-5/'Equity for the years ended December 31,2017, 2016 and 2015-%Consolidated Statements of Cash Flows F-63+for the years ended December 31, 2017, 2016and 20152*Notes to Consolidated Financial Statements F-7$____________________________Dlvj^B*pS;U"t`H !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X> @!!  l  5x  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENTIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 8} $ } y} $ } y} $ 5                                 TherapeuticsMD, Inc. 10-K 02/23/2018 Balance Sheet December 31,  ~   ~   ASSETS  Current Assets:         Cash ~ 2O  ~ V4\ - %Accounts receivable, net of allowance  ~ 5   ~ n 7/for doubtful accounts of $380,580 and $376,374, respectively Inventory~ Z~ AOther current assets~ ~ RTotal current assets~ bE!~  @443322////      l  .~  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetShareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0} $ } y} $ } y}  $ } y} $ .                                 TherapeuticsMD, Inc. 10-K 02/23/2018Income StatementYear Ended December 31,   ~   ~   ~ ~             Revenues, net ~   ~ l  ~ l               Cost of goods sold  ~ >   ~ y   ~       Gross profit~ _~   ~  \     Operating expenses:    *"Sales, general, and administrative~ * ~ >   ~  R  Research and development~ 9~ r   ~  Z$- %Depreciation and amortization~  ~   ~    Total operating expenses~ "*~ Z"  ~        Operating loss~ j}~ [{  ~  ^g      Other income    Miscellaneous income~ >u*~ Vk  ~   Accreted interest~ Nx~ "  ~   Total other income~ *~ v  ~  &      Loss before income taxes~ ب~ o  ~  O     DUlzn'1 V pC.~: ! " # $ % & ' ( ) * + , - " Provision for income taxes   ?    ?    ? !!!!!!!!!! ! ! ! "Net loss"~ "ب""~ "o"" ~ " O" ########## # # # *$"Loss per share, basic and diluted:$$$$$$$$$ $ $ $ %%%%%%%%%% % % % -&%Net loss per share, basic and diluted&&Gz׿&&&q= ףpݿ&& & \(\߿& '''''''''' ' ' ' 0((Weighted average number of common shares((~ (b%1(((~ (F.(( ( ~ ( VI)( &)outstanding, basic and diluted*$+____________________________1,)Created by Morningstar Document Research.0-(http://documentresearch.morningstar.com/ G%/=PF0*8X> @-- ,, ++ &&&&&& """"""      l  /9#  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1) Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } a/} $ } } $ }  }  $ } } $ } } $ } } $ /     TherapeuticsMD, Inc. 10-K 02/23/2018Shareholders' Equity Common Stock   Additional   Accumulated           Paid in   Shares   Amount   Capital   Deficit   Total                       Balance, January 1, 2015  ~ g7%  ~    ~ b+  ~ ҅  ~ o                       /'Shares issued in offerings, net of cost~ *~ "9  ~     ?~ .&Shares issued for exercise of options,~ i%~    ~  z1K   ?~ ;K net/'Shares issued for exercise of warrants,~ JG~ j  ~  ZD   ?~ V net Share-based compensation ? ?  ~     ?~ Net loss ? ?    ?  ~ O~ O"Balance, December 31, 2015~ k*~ "   ~  :`gC  ~ RՖ~       /'Shares issued in offerings, net of cost~ }'~ B  ~  Y&    ?~ i' /'Shares issued for exercise of warrants,~ ,~ N   ~  S   ?~ "S net.&Shares issued for exercise of options,~ .m%~    ~  ~T<   ?~ ^< net Share-based compensation ? ?  ~  ?   ?~ ?Net loss ? ?    ?  ~ o~ o"Balance, December 31, 2016~ z.~ B   ~  0h  ~ FE)~ 6Ve     Dlvj"CGY]1vzN" !"#$%&'()*+,-./ 'Shares issued in offerings, net of cost  ~    ~    ~ X    ?   ~ nWY /!'Shares issued for exercise of warrants,!!~ !jӹ!!!~ !q!! ! ~ ! 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' '~ 'ب'''~ 'ب'(((((((((( ( ( ( ( (((((((")Balance, December 31, 2017))~ )*љ3))~ )5 )) ~ ) {) ) ~ )B3У))~ ))*+$,____________________________1-)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/" n_D*#3'=PF0*8X> @..--,,)))) ))))          l  4;H  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders EquityEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } U5} $ }  } $ } }  $ } } $ 4                                 TherapeuticsMD, Inc. 10-K 02/23/2018 Cash Flows Year Ended December, 31,   ~   ~   ~ ~ , $CASH FLOWS FROM OPERATING ACTIVITIES             Net loss ~ ب  ~ o  ~ O 0 (Adjustments to reconcile net loss to net            * "cash used in operating activities: Depreciation~ ~ J  ~   )!Amortization of intangible assets~ r]~ FT  ~   'Provision for doubtful accounts~ A~   ~  6Z  Share-based compensation~ }~ 6&  ~  Ӷ 4,Changes in operating assets and liabilities:    Accounts receivable~ .< ~ T   ~    Inventory~ ~ "n  ~   Other current assets~ \~ NT+  ~    Other assets ? ?  ~  z Accounts payable~ :8~ RR  ~  < Deferred revenue ? ?  ~  . !Other current liabilities~ Za~ >)  ~       -%Net cash used in operating activities~ ~   ~  '     ,$CASH FLOWS FROM INVESTING ACTIVITIES     Patent costs~ VJ~ h  ~  k  Purchase of fixed assets~ :~   ~   Dlt,hvD bNG$ ! " # $ % & ' ( ) * + , - . / 0 1 2 3 # Payment of security deposit   ?   ~ $    ? !!!!!!!!!! ! ! ! -"%Net cash used in investing activities""~ "r"""~ "_"" " ~ " ^U" ########## # # # ,$$CASH FLOWS FROM FINANCING ACTIVITIES$$$$$$$$$ $ $ $ /%'Proceeds from sale of common stock, net%%~ %nWY%%%~ %i' %% % ~ % % &of costs)'!Proceeds from exercise of options''~ ' '''~ '^<'' ' ~ ' ;K' *("Proceeds from exercise of warrants((~ (^(((~ ("S(( ( ~ ( V( )))))))))) ) ) ) 1*)Net cash provided by financing activities**~ *0N***~ * ** * ~ * ** ++++++++++ + + + #,(Decrease) increase in cash,,~ ,މ,,,~ ,,, , ~ , ., !-Cash, beginning of period--~ -V4\---~ -\m-- - ~ - > - .Cash, end of period.~ .2O..~ .V4\.. ~ . \m. /0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/,# |EF"b =PF0*8X> @j 33 22 11 ......      l  W  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } m} $ } } $ } }  $ } } $                    TherapeuticsMD, Inc. 10-K 02/23/2018Earnings Per ShareAs of December 31,   ~   ~   ~ ~   Stock options  ~    ~ 0   ~ 6  Warrants  ~ .   ~    ~     ~ GP   ~ V   ~ 2}  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(`Txl*Sq=PF0*8X> @:      l  }f  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } } $ } $} $ }  } $                    TherapeuticsMD, Inc. 10-K 02/23/2018NOTE 3 INVENTORY December 31,  ~   ~   Finished product ~ Z  ~ 6@   Raw material   ?   ~ R  TOTAL INVENTORY ~ Z  ~ A  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tzn2rxP=PF0*8X> @R        l  jx  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0.} $ }  } $ }  } $                         TherapeuticsMD, Inc. 10-K 02/23/2018#NOTE 4 OTHER CURRENT ASSETS December 31,  ~   ~  ) !Prepaid sales and marketing costs ~ E   $?  Prepaid insurance  ~ ΄)   ~ U& # Prepaid manufacturing costs   ?   ~ <  Prepaid consulting   ?   ~   Other prepaid costs~ ~ "Prepaid vendor deposits~ n~ ^.&Prepaid research and development costs ?~ "TOTAL OTHER CURRENT ASSETS~ ~ R$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2{oc'VKG+y=PF0*8X> @R      l  -  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } } $ }  } $ }  } $                         TherapeuticsMD, Inc. 10-K 02/23/2018 NOTE 5 FIXED ASSETS, NET December 31,  ~   ~   Accounting system ~ `  ~ `   Equipment  ~    ~ :"   Computer hardware  ~ N   ~ N  Furniture and fixtures  ~    ~  Leasehold improvements~ P~ P TOTAL~ d1~ - Accumulated depreciation~ H~   TOTAL FIXED ASSETS, NET~ ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2~rf*ioca=PF0*8X> @R      l  q  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } a/} $ }  } $ }  }  $ } y} $ }  } $      TherapeuticsMD, Inc. 10-K 02/23/2018%NOTE 6 INTANGIBLE ASSETS, NETDecember 31, 2017   Gross    Accumulated   Net    Weighted-    Carrying    Amortization   Amount   Average   Amount            Remaining                Amortization                Period (yrs.)&Amortizable intangible assets:      OPERA ? software patent~ >~ f{ ~  n  '@.&Development costs of corporate website~ ~~ f    ?   n/a/'Approved hormone therapy drug candidate~ N~   ~  vD  ~ >patents.&Hormone therapy drug candidate patents~ fi ?  ~  fi   n/a (pending)*"Non-amortizable intangible assets:     Multiple trademarks~ < ?  ~  <   indefinite TOTAL~ ~ c ~  1  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0yma h@# =PF0*8X> @            l  9  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } U5} $ }  } $ }  }  $ }  } $ }  } $      TherapeuticsMD, Inc. 10-K 02/23/2018%NOTE 6 INTANGIBLE ASSETS, NETDecember 31, 2016   Gross    Accumulated   Net    Weighted-    Carrying    Amortization   Amount   Average   Amount            Remaining                Amortization                Period (yrs.)&Amortizable intangible assets:      OPERA ? software patent~ >~  ~  ֍  )@.&Development costs of corporate website~ ~~ f    ?   n/a/'Approved hormone therapy drug candidate~ 2B~   ~  N}<  ~ Bpatents.&Hormone therapy drug candidate patents~ N|I ?  ~  N|I   n/a (pending)*"Non-amortizable intangible assets:     4,Multiple trademarks for vitamins/supplements~ Q  ?  ~  Q    indefinite Total~ ~ : ~  Rْ  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0yma h@ =PF0*8X> @            l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ }  } $      TherapeuticsMD, Inc. 10-K 02/23/2018%NOTE 6 INTANGIBLE ASSETS, NET Year Ending Estimated  December 31,    Amortization ~   ~   ~   ~   ~   ~   ~   ~  ~ ~  Thereafter~  w.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.Tyma}1M=PF0*8X> @j        l  8  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0} $ } y} $ } y} $                             TherapeuticsMD, Inc. 10-K 02/23/2018( NOTE 7 OTHER CURRENT LIABILITIES December 31,  ~   ~  $ Accrued clinical trial costs ~ Ve  ~ 0N / 'Accrued payroll, bonuses and commission  ~    ~ Š  costs$ Accrued compensated absences  ~ ƴ9   ~ f( ,$Accrued legal and accounting expense~ z$~  )!Accrued sales and marketing costs~  ~ (Other accrued expenses~ $~  0(Allowance for wholesale distributor fees~  ~ zAccrued royalties~ ~ .)!Allowance for coupons and returns~ :tW~ 0 Accrued rent~ ~ ^ 'TOTAL OTHER CURRENT LIABILITIES~ 2~ VV$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/: vj^"V"w^Q=PF0*8X> @R      l  $  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIESummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0.} $ } }  $ } U} $      TherapeuticsMD, Inc. 10-K 02/23/2018PHSummary of our Warrant activity during the year ended December 31, 2017: Number ofWeighted  Weighted   Aggregate   Shares Under Warrants   Average   Average    Intrinsic       Exercise Price    Remaining   Value            Contractual            Life in Years$ Balance at December 31, 2016  ~    p= ף@   ~   ~ z  Granted~ "RQ@      Exercised~ ZGz?     ~ f Expired~ Q@     Cancelled/Forfeited ? $?     $Balance at December 31, 2017~ .p= ף@   ?  ~ Ƥ.&Vested and Exercisable at December 31,~ ^xQ@   ?  ~ 2E~ %Unvested at December 31, 2017~ (\@  ~     ~ n$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/: ZNB6xu9r =PF0*8X> @         l     dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activity!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0.} $ }  } $} $ }  } $} $ } } $                      TherapeuticsMD, Inc. 10-K 02/23/2018PHSummary of our Warrant activity during the year ended December 31, 2017:~ ~  ~  ~ ' Weighted average exercise price  RQ@   @   ffffff@ . &Weighted average grant date fair value  \(\ @   Q@   )\( @  Risk-free interest rate   Q? %    1.04-1.28 %   RQ? %  Volatility   QO@ %    74.10-74.15 %   QKN@ % Term (in years)  ~    ~    ~  Dividend yield~  %~  %  ~    %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|ZNB6_#pdX0=PF0*8X> @b         l  \  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)Options to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0.} $ }  } $} $ }  } $} $ } } $                      TherapeuticsMD, Inc. 10-K 02/23/20187/Options to Purchase Common Stock of the Company~ ~  ~  ~ ' Weighted average exercise price  ffffff@   zG@   HzG @ . &Weighted average grant date fair value  (\@   Q@   @  Risk-free interest rate    1.84-2.05 %    1.13-1.90 %    1.47-1.67 %  Volatility    61.56-64.25 %    70.26-73.34 %    58.78-62.94 % Term (in years)   5.5-6.25    5.5-6.25     5.27-6.25 Dividend yield~  %~  %  ~    %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|sg[O(xfZN&=PF0*8X> @b         l  76  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocNOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0.} $ } }  $ } U} $      TherapeuticsMD, Inc. 10-K 02/23/20187/Options to Purchase Common Stock of the Company Number ofWeighted  Weighted   Aggregate    Shares Under   Average   Average    Intrinsic   Options   Exercise Price    Remaining   Value            Contractual            Life in Years$ Balance at December 31, 2016  ~ 0   {Gz @    333333@  ~ ]l Granted~ 2ffffff@      Exercised~ (\@     ~ Expired~ b(\@     Cancelled/Forfeited~ bQ@     $Balance at December 31, 2017~ = ףp=@   Q@  ~ j.&Vested and Exercisable at December 31,~ z)\( @   zG@  ~ b;~ %Unvested at December 31, 2017~ .mffffff@   Gz!@  ~ v.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/: sg[O+ +\ !2&=PF0*8X> @          l  D  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } m}  $                  TherapeuticsMD, Inc. 10-K 02/23/2018NOTE 9 INCOME TAXES~ ~  ~  ~   United States ~ ب  ~ o  ~ O  Total ~ ب  ~ o  ~ O   $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$ ,wkb=PF0*8X> @b        l  W  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 2} $ }  } $} $ }  } $} $ } } $                      TherapeuticsMD, Inc. 10-K 02/23/2018NOTE 9 INCOME TAXES~ ~  ~  ~ " Federal statutory tax rate  ~  %  ~  %  ~  %2 *State tax rate, net of federal tax benefit  ~  %   @ %   Q@ %* "Adjustment in valuation allowances   6@ %   fffff&D %   \(|C %& Federal income tax rate change   ffffffN %   ? %   ? %' Permanent and other differences    %   ? %   Q? %,$(Provision) benefit for income taxes ? % ? %    ?  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|wk.W)=PF0*8X> @2    l  i  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } %} $ }  } $ }  }  $ }  } $                      TherapeuticsMD, Inc. 10-K 02/23/2018NOTE 9 INCOME TAXES~ ~  ~  ~ # Deferred Income Tax Assets:             Net operating losses ~   ~ J|  ~ E   R?D Credit  ~ _    ~ _    ~ _  ' Total deferred income tax asset  ~ 2@   ~ ۮ   ~ r  Valuation allowance  ~ ҿ5   ~ $Q   ~ Z 'Deferred income tax assets, net $? $?   $? $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,T|wk67=PF0*8X> @b        l  x  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } $ } I"} $ } y} $      TherapeuticsMD, Inc. 10-K 02/23/2018Operating Lease!Years Ending December 31, ~   ~ j:  ~    ~ B  ~    ~ C  ~    ~ ^9  ~     ? $Total minimum lease payments~  V$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,0|{ovo =PF0*8X> @2  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating LeaseNOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0} $      TherapeuticsMD, Inc. 10-K 02/23/2018=5NOTE 13 SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) 2017 Quarters(  (In thousands, except per share)  1 st   2 nd   3 rd   4th  Revenues ~ F>  ~ jB  ~  E  ~ v@   Gross profit ~ 3  ~ 7  ~ :  ~ *7  Net loss ~ r  ~   ~   ~ 6                  0(Loss per common share, basic and diluted)\(  Q뱿  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|maUI A9myQ=PF0*8X> @              l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINASubsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0} $      TherapeuticsMD, Inc. 10-K 02/23/2018=5NOTE 13 SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) 2016 Quarters(  (In thousands, except per share)  1 st   2 nd   3 rd   4th  Revenues ~  M  ~ D  ~ V  ~ F   Gross profit ~ ;  ~ &3  ~ *C  ~  ;  Net loss ~   ~ j  ~ "y  ~ 2                  0(Loss per common share, basic and diluted)\()\(  p= ף  Q$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|maUI A9myQ=PF0*8X> @              l  +  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } +} 0.      TherapeuticsMD, Inc. 10-K 02/23/2018#Subsidiaries of the Company Name.&State or Jurisdiction of Incorporation  or Organization VitaMedMD, LLC Delaware BocagreenMD, Inc. Nevada, $VitaCare Prescription Services, Inc. Florida $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(T{oc!ZNB=PF0*8X> @ l  R  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0} y#      TherapeuticsMD, Inc. 10-K 02/23/20180(CERTIFICATION OF CHIEF EXECUTIVE OFFICERFebruary 23, 2018/s/ Robert G. Finizio  Robert G. Finizio  Chief Executive Officer % (Principal Executive Officer)  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&r@znbVsK=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!SECTION 1350 CERTIFICATION OF CSECTION 1350 CE (1)U } 0} U5      TherapeuticsMD, Inc. 10-K 02/23/20180(CERTIFICATION OF CHIEF FINANCIAL OFFICERFebruary 23, 2018 /s/ Daniel A. Cartwright  Daniel A. Cartwright  Chief Financial Officer 4 ,(Principal Financial and Accounting Officer)   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(TznbVv^RF=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIASECTION 1350 CE (1)U } 0} y#      TherapeuticsMD, Inc. 10-K 02/23/2018=5SECTION 1350 CERTIFICATION OF CHIEF EXECUTIVE OFFICERFebruary 23, 2018/s/ Robert G. Finizio  Robert G. Finizio  Chief Executive Officer % (Principal Executive Officer)  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@maUI ~rf>=PF0*8X> @ l  k  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??G!Securities registered pursuant TABLE OF CONTENTSOur Business Model TX001HR TX004HR TX004HR (1)Pharmaceutical Regulation!We currently derive all of our !We may not be able to complete !29 Even if we obtain regulatory29 Even if we obtain (1)!The commercial success of our e!Product liability lawsuits coulProduct liability (1)!Delays in clinical trials are c!Our success depends on how effi!If our efforts to protect the p If our efforts to protect (1)!If we are sued for infringing i!The market price of our common The market price of our (1)!Some provisions of our charter !Market Information on Common StIncome Statement TX001HR (1) TX004HR (2) TX004HR (3)!Research and Development Expens!Year ended December 31 2017 comOperating ExpensesOperating Expen (1)Year ended December 31 (1)58 Operating Expenses58 Operating Ex (1)!Summary of Uses and Sources of Contractual ObligationsSummary CompensationBeneficial Ownership 70 PART IV70 PART IV (1)70 PART IV (2)70 PART IV (3)71 72 73 SIGNATURES71 72 73 SIGNAT (1)!74 INDEX TO FINANCIAL STATEMENT Balance SheetIncome Statemen (1)Shareholders Equity Cash FlowsEarnings Per ShareNOTE 3 INVENTORYNOTE 4 OTHER CURRENT ASSETSNOTE 5 FIXED ASSETS NETNOTE 6 INTANGIBLE ASSETS NETNOTE 6 INTANGIBLE ASSETS (1)NOTE 6 INTANGIBLE ASSETS (2)!NOTE 7 OTHER CURRENT LIABILITIE!Summary of our Warrant activitySummary of our Warrant (1)!Options to Purchase Common StocOptions to Purchase (1)NOTE 9 INCOME TAXESNOTE 9 INCOME T (1)NOTE 9 INCOME T (2)Operating Lease!NOTE 13 SELECTED QUARTERLY FINANOTE 13 SELECTED (1)Subsidiaries of the Company!CERTIFICATION OF CHIEF EXECUTIV!CERTIFICATION OF CHIEF FINANCIA!SECTION 1350 CERTIFICATION OF CU } 0} U5      TherapeuticsMD, Inc. 10-K 02/23/2018=5SECTION 1350 CERTIFICATION OF CHIEF FINANCIAL OFFICERFebruary 23, 2018 /s/ Daniel A. Cartwright  Daniel A. Cartwright  Chief Financial Officer 4 ,(Principal Financial and Accounting Officer)   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(TmaUIiQE9=PF0*8X> @ Root Entry FBook    !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~