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Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2019	Feb. 17, 2020	Jun. 28, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Current Fiscal Year End Date	--12-31
Entity File Number	001-00100
Entity Registrant Name	TherapeuticsMD, Inc.
Entity Central Index Key	0000025743
Entity Tax Identification Number	87-0233535
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	951 Yamato Rd.
Entity Address, Address Line Two	Suite 220
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33431
City Area Code	(561)
Local Phone Number	961-1900
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	TXMD
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 539,237,585
Entity Common Stock, Shares Outstanding		271,526,176
Entity Common Stock Held by Non-affiliates			207,399,071

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current Assets:
Cash	$ 160,829,713	$ 161,613,077
Accounts receivable, net of allowance for doubtful accounts of $904,040 and $596,602, respectively	24,395,958	11,063,821
Inventory	11,860,716	3,267,670
Other current assets	11,329,793	10,834,693
Total current assets	208,416,180	186,779,261
Fixed assets, net	2,507,775	472,683
Other Assets:
License rights, net	39,221,308	20,000,000
Intangible assets, net	5,258,211	4,092,679
Right of use asset	10,109,154
Other assets	473,009	639,301
Total other assets	55,061,682	24,731,980
Total assets	265,985,637	211,983,924
Current Liabilities:
Accounts payable	19,181,212	22,743,841
Other current liabilities	33,823,613	18,334,948
Total current liabilities	53,004,825	41,078,789
Long-Term Liabilities:
Long-term debt	194,634,643	73,381,014
Operating lease liability	9,145,049
Total liabilities	256,784,517	114,459,803
Stockholders’ Equity:
Preferred stock - par value $0.001; 10,000,000 shares authorized; no shares issued and outstanding
Common stock - par value $0.001; 350,000,000 shares authorized: 271,177,076 and 240,462,439 issued and outstanding, respectively	271,177	240,463
Additional paid-in capital	704,351,222	616,559,938
Accumulated deficit	(695,421,279)	(519,276,280)
Total stockholders’ equity	9,201,120	97,524,121
Total liabilities and stockholders’ equity	$ 265,985,637	$ 211,983,924

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 904,040	$ 596,602
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	350,000,000	350,000,000
Common Stock, Shares, Issued	271,177,076	240,462,439
Common Stock, Shares, Outstanding	271,177,076	240,462,439

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Total revenue, net	$ 49,646,937	$ 16,099,460	$ 16,777,713
Cost of goods sold	6,334,585	2,737,652	2,636,943
Gross profit	43,312,352	13,361,808	14,140,770
Operating expenses:
Sales, general, and administrative	174,112,612	115,988,954	57,703,370
Research and development	19,792,212	27,299,138	33,852,993
Depreciation and amortization	612,786	293,886	213,117
Total operating expenses	194,517,610	143,581,978	91,769,480
Operating loss	(151,205,258)	(130,220,170)	(77,628,710)
Other (expense) income
Loss on extinguishment of debt	(10,057,632)
Miscellaneous income	2,500,106	2,280,844	695,631
Interest expense	(17,382,215)	(4,677,834)
Accreted interest			7,699
Total other (expense) income	(24,939,741)	(2,396,990)	703,330
Loss before income taxes	(176,144,999)	(132,617,160)	(76,925,380)
Provision for income taxes
Net loss	$ (176,144,999)	$ (132,617,160)	$ (76,925,380)
Loss per share, basic and diluted:
Net loss per share, basic and diluted	$ (0.72)	$ (0.59)	$ (0.37)
Weighted average number of common shares outstanding, basic and diluted	246,353,318	225,026,300	205,523,288
Product [Member]
Total revenue, net	$ 34,140,537	$ 16,099,460	$ 16,777,713
License and Service [Member]
Total revenue, net	$ 15,506,400

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2016	$ 196,688	$ 436,995,052	$ (309,702,319)	$ 127,489,421
Beginning balance (in shares) at Dec. 31, 2016	196,688,222
Shares issued in offerings, net of cost	$ 12,400	68,560,235		68,572,635
Shares issued in offerings, net of cost (in shares)	12,400,000
Shares issued for exercise of options, net	$ 103	212,512		$ 212,615
Shares issued for exercise of options, net (in shares)	102,546			102,546
Shares issued for exercise of warrants, net	$ 7,239	3,791,760		$ 3,798,999
Shares issued for exercise of warrants, net (in shares)	7,238,874
Share-based compensation		6,760,425		6,760,425
Adoption of ASU 2016-09 at Dec. 31, 2016		31,421	(31,421)
Net loss			(76,925,380)	(76,925,380)
Ending balance, value at Dec. 31, 2017	$ 216,430	516,351,405	(386,659,120)	129,908,715
Ending balance (in shares) at Dec. 31, 2017	216,429,642
Shares issued in offerings, net of cost	$ 18,578	89,889,219		89,907,797
Shares issued in offerings, net of cost (in shares)	18,578,430
Shares issued for exercise of options, net	$ 5,455	1,660,753		1,666,208
Shares issued for exercise of options, net (in shares)	5,454,367
Share-based compensation		8,658,561		8,658,561
Net loss			(132,617,160)	(132,617,160)
Ending balance, value at Dec. 31, 2018	$ 240,463	616,559,938	(519,276,280)	$ 97,524,121
Ending balance (in shares) at Dec. 31, 2018	240,462,439			240,462,439
Shares issued in offerings, net of cost	$ 29,900	77,001,358		$ 77,031,258
Shares issued in offerings, net of cost (in shares)	29,900,000
Share-based compensation		10,682,084		10,682,084
Net loss			(176,144,999)	(176,144,999)
Shares issued for exercise of options and warrants, net	$ 814	107,842		108,656
Shares issued for exercise of options and warrants, net (in shares)	814,637
Ending balance, value at Dec. 31, 2019	$ 271,177	$ 704,351,222	$ (695,421,279)	$ 9,201,120
Ending balance (in shares) at Dec. 31, 2019	271,177,076			271,177,076

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (176,144,999)	$ (132,617,160)	$ (76,925,380)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of fixed assets	415,193	181,412	141,601
Amortization of intangible assets	197,593	112,474	71,516
Write off of patent and trademark cost	78,864
Non-cash operating lease expense	1,062,318
Provision for doubtful accounts	307,438	216,022	4,206
Loss of extinguishment of debt	10,057,632
Share-based compensation	10,693,662	8,661,967	6,889,323
Amortization of intellectual property license fee	778,692
Amortization of deferred financing costs	856,302	269,859
Changes in operating assets and liabilities:
Accounts receivable	(13,639,575)	(6,951,041)	167,691
Inventory	(8,593,046)	(1,782,312)	(409,037)
Other assets	(1,880,048)	(2,657,190)	(4,434,130)
Accounts payable	(3,562,629)	18,646,241	(3,260,914)
Accrued expenses and other liabilities	13,675,008	9,107,947	1,599,510
Net cash used in operating activities	(165,697,595)	(106,811,781)	(76,155,614)
CASH FLOWS FROM INVESTING ACTIVITIES
Payment for intellectual property license	(20,000,000)	(20,000,000)
Patent costs	(1,441,989)	(1,105,407)	(765,291)
Purchase of fixed assets	(2,450,285)	(217,040)	(61,817)
Payment of security deposit	(20,420)	(175,410)
Net cash used in investing activities	(23,912,694)	(21,497,857)	(827,108)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of options and warrants	108,656	1,666,208	4,011,614
Proceeds from sale of common stock, net of costs	77,031,258	89,907,797	68,572,635
Proceeds from Financing Agreement	200,000,000
Proceeds from Credit Agreement		75,000,000
Payment of deferred financing fees	(6,652,270)	(3,786,918)
Repayment of Credit Agreement	(81,660,719)
Net cash provided by financing activities	188,826,925	162,787,087	72,584,249
(Decrease) increase in cash	(783,364)	34,477,449	(4,398,473)
Cash, beginning of period	161,613,077	127,135,628	131,534,101
Cash, end of period	160,829,713	161,613,077	127,135,628
Supplemental disclosure of cash flow information
Interest paid	$ 17,787,903	$ 1,890,166

THE COMPANY

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

THE COMPANY

NOTE 1 – THE COMPANY

TherapeuticsMD, Inc., a Nevada corporation, or TherapeuticsMD or the Company, has three wholly owned subsidiaries, vitaMedMD, LLC, a Delaware limited liability company, or VitaMed; BocaGreenMD, Inc., a Nevada corporation, or BocaGreen; and VitaCare Prescription Services, Inc., a Florida corporation, or VitaCare. Unless the context otherwise requires, TherapeuticsMD, VitaMed, BocaGreen, and VitaCare collectively are sometimes referred to as “our company,” “we,” “our,” or “us.” TherapeuticsMD ®, vitaMedMD ®, BocaGreenMD ®, IMVEXXY ® and BIJUVA ® are registered trademarks of our company and ANNOVERA™ is a licensed trademark of our company.

Nature of Business

We are a women’s healthcare company with a mission of creating and commercializing innovative products to support the lifespan of women from pregnancy prevention through menopause. At TherapeuticsMD, we combine entrepreneurial spirit, clinical expertise, and business leadership to develop and commercialize health solutions that enable new standards of care for women. Our solutions range from a patient-controlled, long-lasting contraceptive to advanced hormone therapy pharmaceutical products. We also manufacture and distribute branded and generic prescription prenatal vitamins under the vitaMedMD and BocaGreenMD brands. Our portfolio of products focused on women’s health allows us to efficiently leverage our sales and marketing plan to grow our recently approved products. During 2018, the U.S. Food and Drug Administration, or FDA, approval of our pharmaceutical products has transitioned our company from predominately focused on conducting research and development to one focused on commercializing our pharmaceutical products. In July 2018, we launched our FDA-approved product, IMVEXXY (estradiol vaginal inserts) for the treatment of moderate-to-severe dyspareunia (vaginal pain associated with sexual activity), a symptom of vulvar and vaginal atrophy, or VVA, due to menopause. In April 2019, we launched our FDA-approved product BIJUVA (estradiol and progesterone) capsules, our hormone therapy combination of bio-identical 17ß-estradiol and bio-identical progesterone in a single, oral softgel capsule, for the treatment of moderate-to-severe vasomotor symptoms, or VMS, due to menopause in women with a uterus. In October 2019, we began a test and learn market introduction for our FDA-approved product ANNOVERA (segesterone acetate and ethinyl estradiol vaginal system), the first and only patient-controlled, procedure-free, reversible prescription contraceptive option for women. We expect the full commercial launch of ANNOVERA in the first quarter of 2020. On July 30, 2018, we entered into an exclusive license agreement, or the Population Council License Agreement, with the Population Council, Inc., or the Population Council, to commercialize ANNOVERA in the U.S. In addition, on July 30, 2018, we entered into a license and supply agreement, or the Knight License Agreement, with Knight Therapeutics Inc., or Knight, pursuant to which we granted Knight an exclusive license to commercialize IMVEXXY and BIJUVA in Canada and Israel. On June 6, 2019, we entered into an exclusive license and supply agreement, or the Theramex License Agreement, with Theramex HQ UK Limited, or Theramex, to commercialize BIJUVA and IMVEXXY outside of the U.S., excluding Canada and Israel, or the Theramex Territory.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of our company and our wholly owned subsidiaries, VitaMed, BocaGreen and VitaCare. All intercompany balances and transactions have been eliminated in consolidation.

Cash

We maintain cash at financial institutions that at times may exceed the Federal Deposit Insurance Corporation, or the FDIC, insured limits of $250,000 per bank. We have never experienced any losses related to these funds.

Trade Accounts Receivable and Allowance for Doubtful Accounts

Trade accounts receivable are customer obligations due under normal trade terms. We review accounts receivable for uncollectible accounts and credit card chargebacks and provide an allowance for doubtful accounts, which is based upon a review of outstanding receivables, historical collection information, and existing economic conditions. We evaluate trade accounts receivable aged more than 90 days for delinquency. We write off delinquent receivables against our allowance for doubtful accounts based on individual credit evaluations, the results of collection efforts, and specific circumstances of customers. We record recoveries of accounts previously written off when received as an increase in the allowance for doubtful accounts. To the extent data we use to calculate these estimates does not accurately reflect bad debts, adjustments to these reserves may be required. At December 31, 2019, four different customers represented 36%, 21%, 16% and 11% of our gross accounts receivable. At December 31, 2018, three different customers represented 42%, 24% and 13% of our gross accounts receivable.

Inventories

Inventories represent pharmaceutical products, packaged vitamins and raw materials which are valued at the lower of cost or net realizable value. Our pharmaceutical products are valued using first in first out method and our vitamins are valued using the average-cost method. We review our inventory for excess or obsolete inventory and write-down obsolete or otherwise unmarketable inventory to its estimated net realizable value. Obsolescence may occur due to product expiring or product improvements rendering previous versions obsolete.

Pre-Launch Inventory

Pre-launch inventory costs associated with product candidates that have not yet received regulatory approval are capitalized if we believe there is probable future commercial use and future economic benefit. If the probability of future commercial use and future economic benefit cannot be reasonably determined, then pre-launch inventory costs associated with such product candidates are expensed as research and development expenses during the period the costs are incurred. We have not capitalized any pre-launch inventory to date.

Fixed Assets

We state fixed assets at cost, net of accumulated depreciation. We charge maintenance costs, which do not significantly extend the useful lives of the respective assets, and repair costs to operating expenses as incurred. We compute depreciation using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. Leasehold improvements are depreciated over the shorter of their useful life or the term of the lease.

We capitalize software and software development costs incurred to create and acquire computer software for internal use, principally related to software coding and application development. We begin to capitalize software development costs when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include only external direct costs and services utilized in developing or obtaining computer software. Capitalized software costs are amortized on a straight-line basis when placed into service over the estimated useful life, generally five to seven years.

Intangible Assets

We have adopted the provisions of Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, 350, Intangibles - Goodwill and Other, or ASC 350. Capitalized patent costs, net of accumulated amortization, include outside legal costs incurred for patent applications. In accordance with ASC 350, once a patent is granted, we amortize the capitalized patent costs over the remaining life of the patent using the straight-line method. If the patent is not granted, we write-off any capitalized patent costs at that time. As of December 31, 2019, we had 29 issued domestic, or U.S., patents and 30 issued foreign patents (See Note 6). We capitalize external costs, consisting primarily of legal costs, related to securing our trademarks. Trademarks are perpetual and are not amortized. We review intangible assets for impairment annually or when events or circumstances indicate that their carrying amount may not be recoverable.

Impairment of Long-Lived Assets

We review the carrying values of fixed assets and long-lived intangible assets to be held and used for impairment whenever events or changes in circumstances indicate that their carrying values may not be recoverable. Such events or circumstances may include, among others, the following:

●

significant declines in an asset’s market price;

●

significant deterioration in an asset’s physical condition;

●

significant changes in the nature or extent of an asset’s use or operation;

●

significant adverse changes in the business climate that could impact an asset’s value, including adverse actions or assessments by regulators;

●

accumulation of costs significantly in excess of original expectations related to the acquisition or construction of an asset;

●

current-period operating or cash flow losses combined with a history of such losses or a forecast that demonstrates continuing losses associated with an asset’s use; and

●

expectations that it is more likely than not that an asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life.

If impairment indicators are present, we determine whether an impairment loss should be recognized by testing the applicable asset or asset group’s carrying value for recoverability. This test requires long-lived assets to be grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities, the determination of which requires judgment. We estimate the undiscounted future cash flows expected to be generated from the use and eventual disposal of the assets and compare that estimate to the respective carrying values in order to determine if such carrying values are recoverable. This assessment requires the exercise of judgment in assessing the future use of and projected value to be derived from the eventual disposal of the assets to be held and used. In our assessments, we also consider changes in asset utilization, including, if applicable, the temporary idling of capacity and the expected timing for placing this capacity back into production. If the carrying value of the assets is not recoverable, then we record a loss for the difference between the assets’ fair value and respective carrying values. We determine the fair value of the assets using an “income approach” based upon a forecast of all the expected discounted future net cash flows associated with the subject assets. Some of the more significant estimates and assumptions include market size and growth, market share, projected selling prices, manufacturing cost, and discount rate. We base estimates upon historical experience, our commercial relationships, market conditions, and available external information about future trends. We believe our current assumptions and estimates are reasonable and appropriate. Unanticipated events and changes in market conditions, however, could affect such estimates, resulting in the need for an impairment charge in future periods. There was no impairment of long-lived assets to be held and used during the years ended December 31, 2019, 2018, and 2017.

We perform impairment tests for intangible assets with indefinite useful lives annually, in the fourth quarter, or more frequently if events occur or circumstances change that would more likely than not reduce the fair value of an intangible asset below its carrying value. The impairment test for assets with indefinite lives consists of a comparison of the fair value of the asset with its carrying amount. If the carrying amount of an intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess.

We also evaluate the remaining useful life of intangible assets subject to amortization on a periodic basis to determine whether events and circumstances would indicate impairment or warrant a revision to the remaining useful life. If the estimate of an intangible asset’s remaining useful life is changed, we will amortize the remaining carrying value of the intangible asset prospectively over the revised remaining useful life.

Fair Value of Financial Instruments

Our financial instruments consist primarily of cash, accounts receivable, accounts payable, accrued expenses and long term debt. The carrying amount of cash, accounts receivable, accounts payable and accrued expenses approximates their fair value because of the short-term maturity of such instruments, which are considered Level 1 assets under the fair value hierarchy. The carrying amount for long-term debt as of December 31, 2019 and 2018 (as disclosed in Note 8), approximates fair value based on market activity for other debt instruments with similar characteristics and comparable risk (Level 2).

We categorize our assets and liabilities that are valued at fair value on a recurring basis into a three-level fair value hierarchy as defined by ASC 820, Fair Value Measurements, or ASC 820. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets and liabilities (Level 1) and lowest priority to unobservable inputs (Level 3). Assets and liabilities recorded in the consolidated balance sheet at fair value are categorized based on a hierarchy of inputs, as follows:

	Level 1	unadjusted quoted prices in active markets for identical assets or liabilities;
	Level 2	quoted prices for similar assets or liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and
	Level 3	unobservable inputs for the assets or liabilities.

At December 31, 2019 and 2018, we had no assets or liabilities that were valued at fair value on a recurring basis.

The fair value of indefinite-lived assets is measured on a non-recurring basis using significant unobservable inputs (Level 3) in connection with any required impairment test. During the year ended December 31, 2019, we wrote off $78,864 in costs related to trademarks and patents, including the net carrying amount of our OPERA software patent. There was no impairment of intangible assets during the years ended December 31, 2018, and 2017.

Income Taxes

We account for income taxes under the asset and liability method. We recognize deferred tax assets and liabilities for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. We measure deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which the related temporary differences are expected to be recovered or settled. We recognize the effect on deferred tax assets and liabilities of a change in tax rates when the rate change is enacted. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized.

In accordance with ASC 740, Income Taxes, we recognize the effect of uncertain income tax positions only if the positions are more likely than not of being sustained in an audit, based on the technical merits of the position. We measure recognized uncertain income tax positions using the largest amount that has a likelihood of being realized that is greater than 50%. Changes in recognition or measurement are reflected in the period in which those changes in judgment occur.

We recognize both interest and penalties related to uncertain tax positions as part of the income tax provision. At December 31, 2019 and 2018, we had no tax positions relating to open tax returns that were considered to be uncertain.

Our U.S. federal and state tax returns since 2011, which was the first year we generated net operating losses, remain open to examination.

Share-Based Compensation

We measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include options, restricted stock, restricted stock units, performance-based awards, share appreciation rights, and employee share purchase plans. We amortize such compensation amounts, if any, over the respective service periods of the award. We use the Black-Scholes-Merton option pricing model, or the Black-Scholes Model, an acceptable model in accordance with ASC 718, Compensation-Stock Compensation, to value options. Option valuation models require the input of assumptions, including the expected life of the stock-based awards, the estimated stock price volatility, the risk-free interest rate, and the expected dividend yield. The risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is appropriate for the term of the instrument. Estimated volatility is a measure of the amount by which our stock price is expected to fluctuate each year during the term of the award. On January 1, 2017, we began using our own stock price in our volatility calculation along with the other peer entities whose stock prices were publicly available that were similar to our company and in 2019 we started using only our own stock price in the volatility calculation. Our calculation of estimated volatility is based on historical stock prices over a period equal to the expected term of the awards. The average expected life of options is based on the contractual terms of the stock option using the simplified method. We utilize a dividend yield of zero based on the fact that we have never paid cash dividends and have no current intention to pay cash dividends. Calculating share-based compensation expense requires the input of highly subjective judgment and assumptions, estimates of expected life of the share-based award, stock price volatility and risk-free interest rates. The assumptions used in calculating the fair value of share-based awards represent our best estimates, but these estimates involve inherent uncertainties and the application of management judgment. As a result, if factors change and we use different assumptions, our share-based compensation expense could be materially different in the future. We recognize the compensation expense for share-based compensation granted based on the grant date fair value estimated in accordance with ASC 718. We generally recognize the compensation expense on a straight-line basis over the employee’s requisite service period. Effective January 1, 2017, we account for forfeitures when they occur. On January 1, 2019, we adopted ASU 2018-07 which simplified the accounting for share-based payments to non-employees by aligning it with the accounting for share-based payments to employees, with certain exceptions. The new guidance expanded the scope of ASC 718 to include share-based payments granted to non-employees in exchange for goods or services used or consumed in an entity’s own operations and superseded the guidance in ASC 505-50. Prior to January 1, 2019, equity instruments issued to non-employees were recorded on a fair value basis, as required by ASC 505, Equity - Based Payments to Non-Employees.

Revenue Recognition

We adopted ASC 606, Revenue from Contracts with Customers, or ASC 606, on January 1, 2018 using the modified retrospective method for all contracts not completed as of the date of adoption. ASC 606 states that a contract is considered “completed” if all (or substantially all) of the revenue was recognized in accordance with revenue guidance that was in effect before the date of initial application. Because all (or substantially all) of the revenue related to sales of our products was recognized under ASC 605 prior to the date of initial application of the new standard, the contracts were considered completed under ASC 606. Based on our evaluation of ASC 606, we concluded that a cumulative adjustment was not necessary upon implementation of ASC 606 on January 1, 2018. In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which we expect to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which we determine revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which we expect to be entitled in exchange for those goods or services. ASC 606 requires us to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, we satisfy the performance obligation.

Prescription Products

As of December 31, 2019, our products consisted primarily of prescription vitamins and our FDA-approved products: IMVEXXY, which we began selling during the third quarter of 2018, and BIJUVA, which we began selling in the second quarter of 2019. We started selling ANNOVERA in the third quarter of 2019 and we expect the full commercial launch of ANNOVERA in the first quarter of 2020. We sell our name brand and generic prescription products primarily through wholesale distributors and retail pharmacies. We have one performance obligation related to prescription products sold through wholesale distributors, which is to transfer promised goods to a customer, and two performance obligations related to products sold through retail pharmacies, which are to: (1) transfer promised goods and (2) provide customer service for an immaterial fee. We treat shipping as a fulfillment activity rather than as a separate obligation. We recognize prescription revenue only when we satisfy performance obligations by transferring a promised good or service to a customer. A good or service is considered to be transferred when the customer receives the goods or service or obtains control. Control refers to the customer’s ability to direct the use of, and obtain substantially all of the remaining benefits from, an asset. Based on our contracts, we invoice customers once our performance obligations have been satisfied, at which point payment is unconditional. We disclose receivables from contracts with customers separately in the statement of financial position. Payment for goods or services sold by us is typically due between 30 and 60 days after an invoice is sent to the customer.

The transaction price of a contract is the amount of consideration which we expect to be entitled to in exchange for transferring promised goods or services to a customer. Prescription products are sold at fixed wholesale acquisition cost, or WAC, determined based on our list price. However, the total transaction price is variable as it is calculated net of estimated product returns, chargebacks, rebates, coupons, discounts and wholesaler fees. These estimates are based on the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable (if the amount is payable to the customer) or a current liability (if the amount is payable to a party other than a customer). In order to determine the transaction price, we estimate the amount of variable consideration at the outset of the contract either utilizing the expected value or most likely amount method, depending on the facts and circumstances relative to the contract or each variable consideration. The estimated amount of variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In determining amounts of variable consideration to include in a contract’s transaction price, we rely on our historical experience and other evidence that supports our qualitative assessment of whether revenue would be subject to a significant reversal. We consider all the facts and circumstances associated with both the risk of a revenue reversal arising from an uncertain future event and the magnitude of the reversal if that uncertain event were to occur. Actual amounts of consideration ultimately received may differ from our estimates. If actual results in the future vary from our original estimates, we will adjust these estimates, which would affect net product revenue and earnings in the period such changes in estimates become known.

We accept returns of unsalable prescription products sold through wholesale distributors within a return period of six months prior to and up to 12 months following product expiration. Our vitamins and IMVEXXY currently have a shelf life of 24 months from the date of manufacture and BIJUVA and ANNOVERA currently have a shelf life of 18 months from the date of manufacture. We do not allow product returns for prescription products that have been dispensed to a patient. We estimate the amount of our product sales that may be returned by our customers and record this estimate as a reduction of revenue in the period the related product revenue is recognized. Where historical rates of return exist, we use history as a basis to establish a returns reserve for products shipped to wholesalers. For our newly launched products, for which the right of return exists but for which we currently do not have history of product returns, we estimate returns based on available industry data, our own sales information and our visibility into the inventory remaining in the distribution channel. At the end of each reporting period, we may decide to constrain revenue for product returns based on information from various sources, including channel inventory levels and dating and sell-through data, the expiration dates of products currently being shipped, price changes of competitive products and any introductions of generic products. We recognize the amount of expected returns as a refund liability, representing the obligation to return the customer’s consideration. Since our returns primarily consist of expired and short dated products that will not be resold, we do not record a return asset for the right to recover the goods returned by the customer at the time of the initial sale (when recognition of revenue is deferred due to the anticipated return). Return estimates are recorded in accrued expenses and other current liabilities on the consolidated balance sheet.

We offer various rebate and discount programs in an effort to maintain a competitive position in the marketplace and to promote sales and customer loyalty. We estimate the allowance for consumer rebates and coupons that we have offered based on our experience and industry averages, which is reviewed, and adjusted if necessary, on a quarterly basis. Estimates relating to these rebates and coupons are deducted from gross product revenues at the time the revenues are recognized. We record distributor fees based on amounts stated in contracts. Rebate and coupon estimates and distributor fees are recorded in accrued expenses and other current liabilities on the consolidated balance sheet. We estimate chargebacks based on number of units sold during the period taking into account prices stated in contracts and our historical experience. Estimates related to distributors fees, rebates, coupons and returns are disclosed in Note 7. We provide invoice discounts to our customers for prompt payment. Estimates relating to invoice discounts and chargebacks are deducted from gross product revenues at the time the revenues are recognized.

As part of commercial launches for our FDA-approved prescription products, we introduced a co-pay assistance program for eligible enrolled patients whose out of pocket costs are reduced to a more affordable price. This allows patients to access the product at a reasonable cost and is in line with our responsible pricing approach. We reimburse pharmacies for this discount through third-party vendors. We consider certain payments as consideration paid to the customer and reflect such payments as a reduction of the transaction price as we do not receive a distinct good or service related to these payments. The variable consideration is estimated based on contract prices, the estimated percentage of patients that will utilize the copay assistance, the average assistance paid, the estimated levels of inventory in the distribution channel and the current level of prescriptions covered by patients’ insurance. Payers may change coverage levels for our prescription products positively or negatively, at any time up to the time that we have formally contracted coverage with the payer. As such, the net transaction price of our prescription products is susceptible to such changes in coverage levels, which are outside the influence of the Company. As a result, we constrain variable consideration for our prescription products to an amount that will not result in a significant revenue reversal in future periods. Our ability to estimate the net transaction price for our prescription products is constrained by our estimates of the amount to be paid for the co-pay assistance program which is directly related to the level of prescriptions paid for by insurance. As such, we record an accrual to reduce gross sales for the estimated co-pay and other patient assistance based on currently available third-party data and our internal analyses. We re-evaluate variable consideration each reporting period.

License Revenue

License arrangements may consist of non-refundable upfront license fees, exclusive licensed rights to patented or patent pending technology, and various performance or sales milestones and future product royalty payments. Some of these arrangements may include multiple performance obligations. Non-refundable up-front fees that are not contingent on any future performance by us, and do not require continuing involvement on our part, are recognized as revenue when the right to use functional IP is transferred to the customer.

License Agreement with Knight Therapeutics Inc.

On July 30, 2018, we entered into the Knight License Agreement with Knight pursuant to which we granted Knight an exclusive license to commercialize IMVEXXY and BIJUVA in Canada and Israel. Pursuant to the terms of the Knight License Agreement, Knight will pay us a milestone fee upon first regulatory approval in Canada of each of IMVEXXY and BIJUVA, sales milestone fees based upon certain aggregate annual sales in Canada and Israel of each of IMVEXXY and BIJUVA and royalties based on aggregate annual sales of each of IMVEXXY and BIJUVA in Canada and Israel. Knight will be responsible for all regulatory and commercial activities in Canada and Israel related to IMVEXXY and BIJUVA. We may terminate the Knight License Agreement if Knight does not submit all regulatory applications, submissions and/or registrations required for regulatory approval to use and commercialize IMVEXXY and BIJUVA in Canada and Israel within certain specified time periods. We also may terminate the Knight License Agreement if Knight challenges our patents. Either party may terminate the Knight License Agreement for any material breach by the other party that is not cured within certain specified time periods or if the other party files for bankruptcy or other related matters. In connection with the Knight License Agreement, Knight entered into a subscription agreement with us, pursuant to which Knight purchased 3,921,568 shares of our Common Stock concurrent with the closing of the underwritten public offering of Common Stock on August 6, 2018 at a price of $5.10, for proceeds of $20,000,000.

License Agreement with Theramex

On June 6, 2019, we entered into the Theramex License Agreement with Theramex to commercialize BIJUVA and IMVEXXY in the Theramex Territory. Under the terms of the Theramex License Agreement, Theramex paid us EUR 14 million, or $15,506,400, in cash as an upfront fee on August 5, 2019. Within thirty days of signing the Theramex License Agreement, we provided Theramex the regulatory materials and clinical data that were necessary for Theramex to obtain marketing authorizations and other applicable regulatory approvals for commercializing BIJUVA and IMVEXXY. We recognized the revenue related to the upfront fee, which was a non-refundable payment, during the third quarter of 2019, at a point in time when Theramex was able to use and benefit from the license which was when the knowledge transfer of regulatory documents occurred. We are eligible to receive additional milestone payments comprised of (i) up to an aggregate of EUR 2 million in regulatory milestone payments based on regulatory approvals for BIJUVA and IMVEXXY in certain specified markets and (ii) up to an aggregate of EUR 27.5 million in sales milestone payments to be paid in escalating tranches based on Theramex first attaining certain aggregate annual net sales milestones of BIJUVA and IMVEXXY in the Theramex Territory ranging from EUR 25 million to EUR 100 million. We are also entitled to receive quarterly royalty payments at a rate of 5% on net sales of BIJUVA and IMVEXXY in the Theramex Territory. Theramex is responsible for all regulatory and commercial activities for BIJUVA and IMVEXXY in the Theramex Territory. Theramex may sublicense its rights to commercialize BIJUVA and IMVEXXY in the Theramex Territory, except for certain specified markets. We may terminate the Theramex License Agreement if Theramex does not submit all regulatory applications, submissions and/or registrations required for regulatory approval to use and commercialize BIJUVA and IMVEXXY within certain specified time periods. We also may terminate the Theramex License Agreement if Theramex challenges our patents. Either party may terminate the Theramex License Agreement for any material breach by the other party that is not cured within certain specified time periods or if the other party files for bankruptcy or other related matters.

Disaggregation of revenue

The following table provides information about disaggregated revenue by product mix for the years ended December 31, 2019, 2018, and 2017:


	For the Years Ended December 31,
	2019		2018		2017
Prescription vitamins	$	9,885,493	$	15,041,259	$	16,744,831
IMVEXXY		16,252,045		1,058,201		—
BIJUVA		1,836,443		—		—
ANNOVERA		6,166,556		—		—
License revenue		15,506,400		—		—
OTC products		—		—		32,882
Net revenue	$	49,646,937	$	16,099,460	$	16,777,713

Shipping and Handling Costs

We expense all shipping and handling costs as incurred. We include these costs in cost of goods sold on the accompanying consolidated financial statements.

Segment Reporting

We are managed and operated as one business, which is focused on creating and commercializing products targeted exclusively for women. Our business operations are managed by a single management team that reports to the President of our company. We do not operate separate lines of business with respect to any of our products and we do not prepare discrete financial information with respect to separate products. All product sales are derived from sales in the United States. Accordingly, we view our business as one reportable operating segment.

Cost of Sales

Cost of sales includes the cost of inventory, manufacturing, manufacturing overhead and supply chain costs, and product shipping and handling costs. The Population Council License Agreement requires payment of royalties based on the sale of future products. Such royalties are recorded as a component of cost of sales. Additionally, the amortization of license fees or milestone payments related to licensed products are classified as components of cost of sales to the extent such payments become due in the future.

Advertising Costs

We expense advertising costs when incurred. Advertising costs were $9,045,571, $1,682,746 and $448,288 during the years ended December 31, 2019, 2018, and 2017, respectively.

Research and Development Expenses

Research and development, or R&D, expenses include internal R&D activities, services of external contract research organizations, or CROs, costs of their clinical research sites, manufacturing, scale-up and validation costs, and other activities. Internal R&D activity expenses include laboratory supplies, salaries, benefits, and non-cash share-based compensation expenses. CRO activity expenses include preclinical laboratory experiments and clinical trial studies. Other activity expenses include regulatory consulting and other costs. The activities undertaken by our regulatory consultants that were classified as R&D expenses include assisting, consulting with, and advising our in-house staff with respect to various FDA submission processes, clinical trial processes, and scientific writing matters, including preparing protocols and FDA submissions. These consulting expenses were direct costs associated with preparing, reviewing, and undertaking work for our clinical trials and investigative drugs. We charge internal R&D activities and other activity expenses to operations as incurred. We make payments to CROs based on agreed-upon terms, which may include payments in advance of a study starting date. We expense nonrefundable advance payments for goods and services that will be used in future R&D activities when the activity has been performed or when the goods have been received rather than when the payment is made. We review and accrue CRO expenses and clinical trial study expenses based on services performed and rely on estimates of those costs applicable to the completion stage of a study as provided by CROs. Estimated accrued CRO costs are subject to revisions as such studies progress to completion. We charge revisions to expenses in the period in which the facts that give rise to the revision become known.

Earnings Per Share

We calculate earnings per share, or EPS, in accordance with ASC 260, Earnings Per Share, which requires the computation and disclosure of two EPS amounts: basic and diluted. We compute basic EPS based on the weighted-average number of shares of common stock, par value $0.001 per share, or Common Stock, outstanding during the period. We compute diluted EPS based on the weighted-average number of shares of our Common Stock outstanding plus all potentially dilutive shares of our Common Stock outstanding during the period. Such potentially dilutive shares of our Common Stock consist of options, warrants and restricted stock awards and were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive due to the net loss reported by us.

The table below presents potentially dilutive securities that could affect our calculation of diluted net loss per share allocable to common stockholders for the periods presented.


	As of December 31,
	2019		2018		2017
Stock options		25,030,234		20,872,824		23,365,225
Warrants		1,832,571		3,007,571		3,115,905
Restricted stock awards		1,240,000		1,040,000		—
		28,102,805		24,920,395		26,481,130

Concentration of Credit Risk and other Risks and Uncertainties

Financial instruments that potentially expose us to concentrations of credit risk consist primarily of cash and trade accounts receivable. Cash is on deposit with financial institutions in the United States and these deposits generally exceed the amount of insurance provided by the FDIC. We have not experienced any historical losses on our deposits of cash.

Concentration of credit risk with respect to our trade accounts receivable from our customers is primarily limited to drug wholesalers and retail pharmacy distributors. Credit is extended to our customers based on an evaluation of a customer’s financial condition, and collateral is not required.

Use of Estimates

Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. The preparation of these financial statements requires us to make significant estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure of contingent assets and liabilities. We evaluate our estimates, including those related to contingencies, on an ongoing basis. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ, at times in material amounts, from these estimates under different assumptions or conditions.

Recently Issued Accounting Pronouncements

In August 2018, the FASB issued Accounting Standards Update, or ASU, 2018-13, which eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies some disclosure requirements. The FASB developed the amendments to ASC 820 as part of its broader disclosure framework project, which aims to improve the effectiveness of disclosures in the notes to financial statements by focusing on requirements that clearly communicate the most important information to users of the financial statements. The new guidance is effective for all entities for fiscal years beginning after December 15, 2019 and for interim periods within those fiscal years. An entity is permitted to early adopt either the entire standard or only the provisions that eliminate or modify requirements. We do not expect that the adoption of this standard will have a material effect on our disclosures.

In June 2018, the FASB issued ASU 2018-07 to simplify the accounting for share-based payments to non-employees by aligning it with the accounting for share-based payments to employees, with certain exceptions. The new guidance expands the scope of ASC 718 to include share-based payments granted to non-employees in exchange for goods or services used or consumed in an entity’s own operations and supersedes the guidance in ASC 505-50. The guidance is effective for public business entities in annual periods beginning after December 15, 2018, and interim periods within those annual periods. Early adoption is permitted, including in an interim period for which financial statements have not been issued, but not before an entity adopts ASC 606. We adopted this standard on January 1, 2019 and the adoption of this standard did not have a material effect on our consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases. This guidance requires lessees to record most leases on their balance sheets while recognizing expenses on their income statements in a manner similar to current accounting. The guidance also eliminates current real estate-specific provisions for all entities. For lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. The standard was effective for public business entities for annual periods beginning after December 15, 2018, and interim periods within those years. In July 2018, the FASB amended the new leases standard and issued ASU 2018-11, Leases, (Topic 842): Targeted Improvements to give entities another option for transition and to provide lessors with a practical expedient. We adopted ASU 2016-02 on January 1, 2019 utilizing the alternative transition method allowed for under ASU 2018-11 and we recorded a $3.8 million right of use asset and a $4.1 million liability related to adoption of this standard. In addition, upon commencement of additional leased space in the third quarter of 2019 (as disclosed in Note 13), we recorded an additional $7.4 million right of use asset and an additional $7.2 million liability related to our new leased space. Comparative financial information was not adjusted and will continue to be reported under ASC 840. We also elected the transition relief package of practical expedients and as a result we did not assess (1) whether existing or expired contracts contain leases, (2) lease classification for any existing or expired leases, and (3) whether lease origination costs qualified as initial direct costs. We elected the short-term lease practical expedient by establishing an accounting policy to exclude leases with a term of 12 months or less. We elected not to separate lease components from non-lease components for our specified asset classes. Additionally, the adoption of the new standard resulted in increased disclosure requirements in our quarterly and annual filings.

Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants and the SEC did not, and are not expected to, have a material effect on our results of operations or financial position.

INVENTORY

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORY

NOTE 3 – INVENTORY

Inventory consists of the following:


	December 31,
	2019		2018
Finished products	$	4,976,910	$	2,908,958
Work in process		1,182,059		339,312
Raw materials		5,701,747		19,400
TOTAL INVENTORY	$	11,860,716	$	3,267,670

OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

OTHER CURRENT ASSETS

NOTE 4 – OTHER CURRENT ASSETS

Other current assets consist of the following:


	December 31,
	2019		2018
Prepaid sales and marketing costs	$	1,583,698	$	5,148,789
Debt financing fees on undrawn tranches (Note 8)		550,757		1,898,074
Prepaid insurance		1,812,135		790,465
Prepaid manufacturing		2,595,721		—
Other prepaid costs		4,787,482		2,997,365
TOTAL OTHER CURRENT ASSETS	$	11,329,793	$	10,834,693

FIXED ASSETS, NET

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

FIXED ASSETS, NET

NOTE 5 – FIXED ASSETS, NET

Fixed assets, net consist of the following:


	December 31,
	2019			2018
Accounting system	$	301,096		$	301,096
Equipment		1,619,646			490,576
Furniture and fixtures		1,406,858			116,542
Computer hardware		80,211			80,211
Leasehold improvements		68,788			37,888
TOTAL FIXED ASSETS		3,476,599			1,026,313
Accumulated depreciation		(968,824	)		(553,630	)
TOTAL FIXED ASSETS, NET	$	2,507,775		$	472,683

Depreciation expense for the years ended December 31, 2019, 2018, and 2017 was $415,193, $181,412, and $141,601, respectively.

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 6 – INTANGIBLE ASSETS, NET

The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of our intangible assets as of December 31, 2019 and 2018:


	December 31, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Amount		Weighted- Average Remaining Amortization Period (yrs.)
Amortizable intangible assets:
Approved hormone
therapy drug
candidate patents	$	3,463,082	$	(478,983	)	$	2,984,099		13
Hormone therapy drug
candidate patents
(pending)		1,979,299		—			1,979,299		n/a
Non-amortizable intangible
assets:
Multiple trademarks		294,813		—			294,813		indefinite
TOTAL	$	5,737,194	$	(478,983	)	$	5,258,211


	December 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Amount		Weighted- Average Remaining Amortization Period (yrs.)
Amortizable intangible assets:
OPERA software patent	$	31,951	$	(10,484	)	$	21,467		10.75
Development costs of
corporate website		91,743		(91,743	)		—		n/a
Approved hormone
therapy drug
candidate patents		2,234,129		(282,485	)		1,951,644		14
Hormone therapy drug
candidate patents
(pending)		1,855,279		—			1,855,279		n/a
Non-amortizable intangible
assets:
Multiple trademarks		264,289		—			264,289		indefinite
TOTAL	$	4,477,391	$	(384,712	)	$	4,092,679

We capitalize external costs, consisting primarily of legal costs, related to securing our patents and trademarks. Once a patent is granted, we amortize the approved hormone therapy drug candidate patents using the straight-line method over the estimated useful life of approximately 20 years, which is the life of intellectual property patents. If the patent is not granted, we write-off any capitalized patent costs at that time. Trademarks are perpetual and are not amortized. During the year ended December 31, 2019, we wrote off $78,864 in costs related to trademarks and patents, including the net carrying amount of the OPERA patent.

As of December 31, 2019, we had 29 issued domestic patents and 30 issued foreign patents, including:

●

12 domestic patents and six foreign patents that relate to BIJUVA as well as three domestic patents that relate to estradiol and progesterone product candidates. These patents establish an important intellectual property foundation and are owned by us. The domestic patents will expire in 2032. The foreign patents will expire no earlier than 2032. In addition, we have pending patent applications relating to BIJUVA in the U.S., Argentina, Australia, Brazil, Canada, China, Europe, Israel, Japan, Mexico, New Zealand, Russia, South Africa, and South Korea;

●

Six domestic patents (five utility and one design) and 13 foreign patents (three utility and ten design) that relate to IMVEXXY. These patents establish an important intellectual property foundation for IMVEXXY and are owned by us. The domestic patents will expire in 2032 or 2033. The foreign utility patents will expire no earlier than 2033. The foreign design patents provide protection expiring no earlier than 2025. In certain countries, the foreign design patents provide protection through at least 2037. In addition, we have pending patent applications related to IMVEXXY in the U.S., Argentina, Australia, Brazil, Canada, Europe, Israel, Japan, Mexico, New Zealand, Russia, South Africa, and South Korea;

●

One domestic utility patent that relates to our topical-cream candidates, which is owned by us. The domestic patent will expire in 2035. We have pending patent applications with respect to our topical-cream candidates in the U.S., Argentina, Australia, Brazil, Canada, Europe, Israel, Japan, Mexico, Russia, South Africa, and South Korea;

●

One domestic utility patent and seven foreign patents that relate to our transdermal-patch candidates, which are owned by us. The domestic utility patent will expire in 2032. The foreign patents will expire no earlier than 2033. We have pending patent applications with respect to our transdermal-patch candidates in the U.S., Brazil, Canada, Mexico, and South Africa;

●

Three domestic utility patents that relate to TX-009HR, a progesterone and estradiol product candidate, which are owned by us and will expire in 2037. We have pending patent applications with respect to TX-009HR in the U.S., Argentina, Australia, Brazil, Canada, Europe, Israel, Japan, Mexico, New Zealand, Russia, South Africa, and South Korea.

●

Two domestic and four foreign patents that relate to formulations containing progesterone, which are owned by us. The domestic patents will expire between 2032 and 2036. The foreign patents will expire no earlier than 2033. In addition, we have pending patent applications with respect formulations containing progesterone in the U.S., Argentina, Australia, Brazil, Canada, Europe, Israel, Japan, Mexico, Russia, South Africa, and South Korea;

●

One domestic utility patent that relates to our OPERA information-technology platform, which is owned by us and will expire in 2031;

Amortization expense was $197,593, $112,474, and $71,516 for the years ended December 31, 2019, 2018, and 2017, respectively.

Estimated amortization expense, based on current patent cost being amortized, for the next five years is as follows:

Year Ending December 31,		Estimated Amortization
2020		$229,546
2021		$229,546
2022		$229,546
2023		$229,546
2024		$229,546

License Agreement with the Population Council

On July 30, 2018, we entered into the Population Council License Agreement to commercialize ANNOVERA in the U.S. ANNOVERA became commercially available in the third quarter of 2019 and we expect the full commercial launch of ANNOVERA in the first quarter of 2020.

Under the terms of the Population Council License Agreement, we paid the Population Council a milestone payment of $20,000,000 within 30 days following the approval by the FDA of the new drug application, or NDA, for ANNOVERA and $20,000,000 within 30 days following the first commercial batch release of ANNOVERA. Both milestone payments of $20,000,000 were recorded as license rights in the consolidated balance sheets. We started amortizing the license rights in the third quarter of 2019 once ANNOVERA became commercially available for use. The cost is amortized over the remaining useful life over which the license rights will contribute directly or indirectly to our cash flows, which is estimated to be the remaining patent life of the product, which expires in December 2032. The cost is amortized using the straight-line method as the pattern of economic benefit cannot be reliably determined. During the year ended December 31, 2019, we recorded $778,692 in amortization expense related to the license fee which was recorded as a component of cost of sales.

The Population Council is also eligible to receive milestone payments and royalties from commercial sales of ANNOVERA. We are responsible for marketing expenses related to the commercialization of ANNOVERA. In addition, we are required to pay the Population Council, on a quarterly basis, step-based royalty payments based on annual net sales of ANNOVERA in the U.S. by the Company and its affiliates and permitted licensees as follows: (i) if annual net sales are less than or equal to $50,000,000, a royalty of 5% of net sales; (ii) for annual net sales greater than $50,000,000 and less than or equal to $150,000,000, a royalty of 10% of such net sales; and (iii) for net sales greater than $150,000,000, a royalty of 15% of such net sales. The annual royalty rate will be reduced to 50% of the initial rate during the six-month period beginning on the date of the first arms-length commercial sale of a generic equivalent of the one-year vaginal contraceptive system that is launched by a third party in the U.S., and thereafter will be reduced to 20% of the initial rate. We are required to pay the Population Council milestone payments of $40 million upon cumulative net sales of ANNOVERA in the U.S. by us and our affiliates and permitted sublicensees of each of $200 million, $400 million and $1 billion. The Population Council has agreed to perform and pay the costs and expenses associated with four post-approval studies required by the FDA for ANNOVERA and we have agreed to perform and pay the costs and expenses associated with a post approval study required by the FDA to measure risk for venous thromboembolism, provided that if the costs and expenses associated with such post-approval study exceed $20,000,000, half of such excess will be offset against royalties or other payments owed by us to the Population Council under the Population Council License Agreement. We and the Population Council have agreed to form a joint product committee responsible for overseeing activities under the Population Council License Agreement. We will be responsible for all aspects of promotion, product positioning, pricing, education programs, publications, sales messages and any additional desired clinical studies for the one-year vaginal contraceptive system, subject to oversight and decisions made by the joint product committee. The Population Council License Agreement includes exclusive rights for us to negotiate co-development of two other investigational vaginal contraceptive systems in development by the Population Council.

OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

OTHER CURRENT LIABILITIES

NOTE 7 – OTHER CURRENT LIABILITIES

Other current liabilities consist of the following:


	December 31,
	2019		2018
Accrued payroll, bonuses and commission costs	$	8,040,278	$	6,854,002
Allowance for coupons and returns		10,316,298		5,294,120
Accrued sales and marketing costs		3,285,662		2,288,028
Accrued compensated absences		1,463,878		1,178,110
Allowance for wholesale distributor fees		2,347,122		792,891
Accrued legal and accounting expense		422,336		385,824
Accrued research and development		1,049,603		388,675
Accrued rent		—		365,155
Operating lease liability		1,501,539		—
Accrued rebates		3,916,672		412,570
Other accrued expenses		1,480,225		375,573
TOTAL OTHER CURRENT LIABILITIES	$	33,823,613	$	18,334,948

DEBT

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

DEBT

NOTE 8 – DEBT

On April 24, 2019, we entered into a Financing Agreement, as amended on December 27, 2019, or the Financing Agreement, with TPG Specialty Lending, Inc., as administrative agent, or the Administrative Agent, various lenders from time to time party thereto, and certain of our subsidiaries party thereto from time to time as guarantors, which provides us with a $300,000,000 first lien secured term loan credit facility, or the Facility. The Facility provides for availability to us in three tranches: (i) $200,000,000 was drawn upon entering into the Financing Agreement; (ii) $50,000,000 will be available to us in the Administrative Agent’s sole and absolute discretion either contemporaneously with the delivery of our financial statements for the fiscal quarter ending June 30, 2020 or at such earlier date as the Administrative Agent shall have consented to; and (iii) $50,000,000 was drawn on February 18, 2020 following our achievement of more than $11,000,000 in net revenues from IMVEXXY, BIJUVA and ANNOVERA for the fourth quarter of 2019. Borrowings under the Facility accrue interest at either (i) 3-month LIBOR plus 7.75%, subject to a LIBOR floor of 2.70% or (ii) the prime rate plus 6.75%, subject to a prime rate floor of 5.2% as selected by us. Interest on amounts borrowed under the Facility is payable quarterly. The outstanding principal amount of the Facility is payable in four equal quarterly installments beginning on June 30, 2023, with the Facility maturing on March 31, 2024. We have the right to prepay borrowings under the Facility in whole or in part at any time, subject to a prepayment fee on the principal amount being prepaid of (i) 30.0% for the first two years following the initial funding date of the applicable borrowing, (ii) 5.0% for the third year following the initial funding date of the applicable borrowing, (iii) 3.0% for the fourth year following the initial funding date of the applicable borrowing and (iv) 1.0% for the fifth year following the initial funding date of the applicable borrowing but prior to March 31, 2024. In connection with the initial borrowing under the Facility, we paid, for the benefit of the lenders, a facility fee equal to 2.5% of the initial amount borrowed and will be required to pay such a facility fee in connection with any subsequent borrowings under the Facility. We are also required to pay the Administrative Agent and the lenders an annual administrative fee in addition to other fees and expenses. The Financing Agreement contains customary mandatory prepayments, restrictions and covenants applicable to us that are customary for financings of this type. Among other requirements, we are required to (i) maintain a minimum unrestricted cash balance of $50,000,000, which will increase to $60,000,000 if we draw either the second or third tranche of the Facility, and (ii) achieve certain minimum consolidated net revenue amounts attributable to commercial sales of our IMVEXXY, BIJUVA and ANNOVERA products beginning with the fiscal quarter ending December 31, 2020. The Financing Agreement also includes other representations, warranties, indemnities and events of default that are customary for financings of this type, including an event of default relating to a change of control of the Company. Upon or after an event of default, the Administrative Agent and the lenders may declare all or a portion of our obligations under the Financing Agreement to be immediately due and payable and exercise other rights and remedies provided for under the Financing Agreement. The obligations of our company and its subsidiaries under the Financing Agreement are secured, subject to customary permitted liens and other agreed upon exceptions, by a first priority perfected security interest in all existing and after acquired assets of our company and its subsidiaries. The obligations under the Financing Agreement will be guaranteed by each of our future direct and indirect subsidiaries, subject to certain exceptions.

On May 1, 2018, we entered into a Credit and Security Agreement, or the Credit Agreement, with MidCap Financial Trust, or MidCap, as agent, or Agent, and as lender, and the additional lenders party thereto from time to time (together with MidCap as a lender, the Lenders), as amended. The Credit Agreement provided a secured term loan facility in an aggregate principal amount of up to $200,000,000, or the Term Loan. Under the terms of the Credit Agreement, the Term Loan was available to be made in three separate tranches, with each tranche to be made available to us, at our option, upon our achievement of certain milestones. Amounts borrowed under the Term Loan bore interest at a rate equal to the sum of (i) one-month LIBOR (subject to a LIBOR floor of 1.50%) plus (ii) 7.75% per annum.

On April 24, 2019, we terminated the Credit Agreement. A portion of the initial tranche of borrowing under the Financing Agreement in the amount of approximately $81,661,000 was used to repay all amounts outstanding under the Credit Agreement, which included a prepayment fee of 4%, a repayment fee of 4% and other fees and expenses payable to the lenders under the Credit Agreement. As a result of the termination of the Credit Agreement, we recorded $10,057,632 in loss on extinguishment of debt in the accompanying consolidated financial statements. Interest on amounts borrowed under the Term Loan was due and payable monthly in arrears. Interest expense for the year ending December 31, 2019 related to the Credit Agreement was $1,816,747. During the year ended December 31, 2019, and prior to the repayment of the Credit Agreement, we amortized $120,146 of deferred financing fees as interest expense in our accompanying consolidated financial statements and during the year ended December 31, 2018, we amortized $269,859, of debt issuance costs as interest expense in our accompanying consolidated financial statements.

As of December 31, 2019, we had $200,000,000 in borrowings outstanding under the Financing Agreement, which are classified as long-term debt in the accompanying consolidated financial statements. During the year ended December 31, 2019, we incurred $6,652,270 in deferred financing fees related to the Financing Agreement. Deferred financing fees related to the entire Financing Agreement have been allocated pro rata between the funded and unfunded portions of each tranche. Allocated deferred financing fees related to the first tranche of borrowings of $6,101,513 have been reflected as a debt discount and are accreted to interest expense using the effective interest method. Deferred financing fees associated with unfunded tranches were deferred as assets until the respective tranche has been drawn. As of December 31, 2019, deferred financing fees related to the unfunded tranches were included in other current assets in the accompanying consolidated financial statements. During the year ended December 31, 2019, we amortized $736,156 of deferred financing fees related to the first tranche as interest expense in the accompanying consolidated financial statements. Interest on amounts borrowed under the Financing Agreement is due and payable quarterly in arrears. Interest expense for the year ended December 31, 2019 was $14,709,166. The overall effective interest rate under the Financing Agreement was approximately 11% as of December 31, 2019.

As of December 31, 2019 and 2018, the carrying value of our debt consisted of the following:


	As of December 31,
	2019			2018
Financing Agreement	$	200,000,000		$	—
Credit Agreement		—			75,000,000
Debt discount and financing fees		(5,365,357	)		(1,618,986	)
TOTAL LONG-TERM DEBT	$	194,634,643		$	73,381,014

STOCKHOLDERS’ EQUITY

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 9 – STOCKHOLDERS’ EQUITY

Preferred Stock

At December 31, 2019, we had 10,000,000 shares of Preferred Stock, par value $0.001, authorized for issuance, of which no shares of Preferred Stock were issued or outstanding.

Common Stock

At December 31, 2019, we had 350,000,000 shares of Common Stock authorized for issuance, of which 271,177,076 shares of Common Stock were issued and outstanding.

Issuances During 2019

On October 24, 2019, we entered into an underwriting agreement with J.P. Morgan Securities LLC, as representative of the underwriters, relating to an underwritten public offering of 26,000,000 shares of our Common Stock at a public offering price of $2.75 per share. We granted the underwriters an option, exercisable for a period of 30 days, to purchase up to 3,900,000 additional shares of Common Stock, which was exercised in full. The net proceeds to us from the offering were approximately $77,031,000, after deducting the underwriting discount and offering expenses payable by us. The offering closed on October 29, 2019.

During the year ended December 31, 2019, certain individuals exercised stock options to purchase an aggregate of 331,619 shares of Common Stock for $108,656 in cash. Also, during the year ended December 31, 2019, stock options to purchase an aggregate of 12,097 shares of Common Stock were exercised pursuant to the options’ cashless exercise provisions, which resulted in 11,834 shares of Common Stock being issued.

Issuances During 2018

On August 1, 2018, we entered into an underwriting agreement with Goldman Sachs & Co. LLC, as representative of the underwriters, relating to an underwritten public offering of 12,745,098 shares of our Common Stock at a price of $5.10 per share. We granted the underwriters an option, exercisable for a period of 30 days, to purchase up to 1,911,764 additional shares of Common Stock. On August 2, 2018, the underwriters exercised the option in full. The net proceeds to us from the offering, including the exercise of the option to purchase additional shares, were approximately $69,908,000, after deducting the underwriting discount and offering expenses payable by us. The offering closed on August 6, 2018. In connection with the Knight License Agreement, on August 6, 2018, Knight entered into a subscription agreement with us, pursuant to which Knight purchased 3,921,568 of shares of our Common Stock concurrently with the closing of the underwritten public offering of Common Stock at a price of $5.10, for proceeds to us of $20,000,000.

During the year ended December 31, 2018, certain individuals exercised stock options to purchase an aggregate of 5,444,526 shares of Common Stock for $1,666,208 in cash. Also, during the year ended December 31, 2018, stock options to purchase an aggregate of 10,000 shares of Common Stock were exercised pursuant to the options’ cashless exercise provisions, wherein 9,841 shares of Common Stock were issued.

Issuances During 2017

On September 25, 2017, we entered into an underwriting agreement with J.P. Morgan Securities LLC relating to an underwritten public offering of 12,400,000 shares of our Common Stock at a price of $5.55 per share. The net proceeds to us from the offering were approximately $68,573,000, after deducting estimated offering expenses payable by us. The offering closed on September 28, 2017 and we issued 12,400,000 shares of Common Stock.

During the year ended December 31, 2017, certain individuals exercised stock options to purchase an aggregate of 102,546 shares of Common Stock for $212,615 in cash.

Warrants to Purchase Common Stock

As of December 31, 2019, we had warrants outstanding to purchase an aggregate of 1,832,571 shares of Common Stock with a weighted-average contractual remaining life of approximately 1.95 years, and exercise prices ranging from $0.24 to $8.20 per share, resulting in a weighted average exercise price of $2.62 per share.

The valuation methodology used to determine the fair value of our warrants is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions, including volatility of the stock price, the risk-free interest rate, dividend yield and the term of the warrant. During the year ended December 31, 2019, we granted warrants to purchase an aggregate of 75,000 shares of Common Stock to outside consultants which vest ratably over a 12-month period and have an expiration date of February 13, 2024. During the year ended December 31, 2018, we granted warrants to purchase an aggregate of 175,000 shares of Common Stock to outside consultants which vest ratably over a 12-month period and have an expiration date of March 15, 2023. During the year ended December 31, 2017, we granted warrants to purchase an aggregate of 125,000 shares of Common Stock to outside consultants which vest ratably over a 12-month period and have an expiration date of March 15, 2022.

We recorded share-based compensation expense related to warrants previously issued of $254,970, $494,136, and $313,271 for the years ended December 31, 2019, 2018 and 2017, respectively, in the accompanying consolidated financial statements. At December 31, 2019, total unrecognized estimated compensation expense related to unvested warrants was approximately $26,446 which is expected to be recognized over weighted-average period of 0.1 years.

Summary of our Warrant activity during the year ended December 31, 2019:

	Number of Shares Under Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Balance at December 31, 2018		3,007,571		$	2.78		1.58	$	4,826,403
Granted		75,000		$	5.63
Exercised		(1,250,000	)	$	3.20			$	2,420,000
Expired		—			—				—
Cancelled/Forfeited		—			—				—
Balance at December 31, 2019		1,832,571		$	2.62		1.95	$	2,447,929
Vested and Exercisable at December 31, 2019		1,820,071		$	2.60		1.90	$	2,447,929
Unvested at December 31, 2019		12,500		$	5.63		9.13		—

The weighted average fair value per share of warrants issued and the assumptions used in the Black-Scholes Model during the years ended December 31, 2019, 2018, and 2017 are set forth in the table below.

	2019			2018			2017
Weighted average exercise price	$	5.63		$	5.16		$	6.83
Weighted average grant date fair value	$	3.00		$	2.79		$	3.67
Risk-free interest rate		2.52	%		2.36	%		1.47	%
Volatility		60.8	%		62.12	%		63.24	%
Term (in years)		5			5			5
Dividend yield		0.00	%		0.00	%		0.00	%

Warrant exercises

During the year ended December 31, 2019, warrants to purchase an aggregate of 1,250,000 shares of Common Stock were exercised pursuant to the warrants’ cashless exercise provisions, which resulted in 471,184 shares of Common Stock being issued. During the year ended December 31, 2018, no warrants were exercised.

During the year ended December 31, 2017, certain individuals exercised warrants to purchase an aggregate of 2,476,666 shares of Common Stock for $3,798,999 in cash. In addition, during the year ended December 31, 2017, certain individuals exercised warrants to purchase an aggregate of 6,590,000 shares of Common Stock pursuant to the warrants’ cashless exercise provisions, which resulted in 4,762,208 shares of Common Stock being issued.

Options to Purchase Common Stock of the Company

In 2009, we adopted the 2009 Long Term Incentive Compensation Plan, or the 2009 Plan, to provide financial incentives to employees, directors, advisers, and consultants of our company who are able to contribute towards the creation of or who have created stockholder value by providing them stock options and other stock and cash incentives, or the Awards. As of December 31, 2019, there were non-qualified stock options to purchase an aggregate of 15,017,759 shares of Common Stock outstanding under the 2009 Plan. Effective upon our adoption of the TherapeuticsMD, Inc. 2019 Stock Incentive Plan, or the 2019 Plan, on June 20, 2019, no future awards may be made under the 2009 Plan.

In 2012, we adopted the 2012 Stock Incentive Plan, or the 2012 Plan, a non-qualified plan that was amended in August 2013. The 2012 Plan was designed to serve as an incentive for retaining qualified and competent key employees, officers, directors, and certain consultants and advisors of our company. As of December 31, 2019, there were non-qualified stock options to purchase an aggregate of 6,316,474 shares of Common Stock outstanding and an aggregate of 1,040,000 restricted stock awards under the 2012 Plan. Effective upon our adoption of the 2019 Plan, no future awards may be made under the 2012 Plan.

On June 20, 2019, we adopted the 2019 Plan to serve as an incentive for retaining qualified and competent key employees, officers, directors, and certain consultants and advisors of our company. The Awards available under the 2019 Plan consist of stock options, stock appreciation rights, restricted stock, restricted stock units, performance stock, performance units, and other stock or cash awards as described in the 2019 Plan. Generally, the options vest annually over four years or as determined by our board of directors, upon each option grant. Options may be exercised by paying the price for shares or on a cashless exercise basis after they have vested and prior to the specified expiration date provided and applicable exercise conditions are met, if any. The expiration date is generally ten years from the date the option is issued.

As of December 31, 2019, there were 13,599,382 shares of Common Stock available for issuance under the 2019 Plan, consisting of (i) 11,103,999 new shares, (ii) 2,395,333 unallocated shares previously available for issuance under the 2012 Plan that were not then subject to outstanding “Awards” (as defined in the 2012 Plan), and (iii) 100,050 unallocated shares previously available for issuance under the 2009 Plan that were not then subject to outstanding “Awards” (as defined in the 2009 Plan). Any shares subject to outstanding options or other equity “Awards” under the 2019 Plan, the 2012 Plan and the 2009 Plan that are forfeited, expire or otherwise terminate without issuance of the underlying shares, or if any such Award is settled for cash or otherwise does not result in the issuance of all or a portion of the shares subject to such Award (other than shares tendered or withheld in connection with the exercise of an Award or the satisfaction of withholding tax liabilities), the shares to which those Awards were subject, shall, to the extent of such forfeiture, expiration, termination, cash settlement or non-issuance, again be available for delivery with respect to Awards under the 2019 Plan. As of December 31, 2019, there were non-qualified stock options to purchase 3,696,001 shares of Common Stock outstanding under the 2019 Plan and 200,000 restricted stock awards outstanding under the 2019 Plan.

The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options.

The ranges of assumptions used in the Black-Scholes Model during the years ended December 31, 2019, 2018, and 2017 are set forth in the table below.

	2019			2018			2017
Weighted average exercise price	$	3.10		$	5.45		$	6.60
Weighted average grant date fair value	$	1.82		$	3.24		$	3.82
Risk-free interest rate		1.64-2.54	%		2.38-2.89	%		1.84-2.05	%
Volatility		61.25-64.49	%		59.45-64.04	%		61.56-64.25	%
Term (in years)		5.5-6.5			5.1-6.25			5.5-6.25
Dividend yield		0.00	%		0.00	%		0.00	%

A summary of activity under the 2009, 2012 and 2019 Plans and related information during the year ended December 31, 2019 is as follows:

	Number of Shares Under Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Balance at December 31, 2018		20,872,824		$	4.93		5.94	$	12,239,876
Granted		4,620,501		$	3.10
Exercised		(343,716	)	$	0.32			$	1,426,828
Expired		(26,375	)	$	5.57
Cancelled/Forfeited		(93,000	)	$	5.16
Balance at December 31, 2019		25,030,234		$	4.65		5.84	$	3,668,171
Vested and Exercisable at December 31, 2019		18,025,819		$	4.88		4.62	$	3,319,621
Unvested at December 31, 2019		7,004,415		$	4.05		8.96	$	348,550

At December 31, 2019, our outstanding options had exercise prices ranging from $0.19 to $8.92 per share. Share-based compensation expense related to options recognized in our results of operations for the years ended December 31, 2019, 2018, and 2017 was approximately $8,798,707, $8,091,294, and $6,447,154, respectively, and it is based on awards vested. At December 31, 2019, total unrecognized estimated compensation expense related to unvested options was approximately $11,460,000, which may be adjusted for future changes in forfeitures. This cost is expected to be recognized over a weighted-average period of 2.4 years. No tax benefit was realized due to a continued pattern of operating losses.

Restricted Stock

Restricted stock awards granted under our 2009, 2012 and 2019 Plans entitle the holder to receive, at the end of vesting period, a specified number of shares of our Common Stock. Share-based compensation expense is measured by the market value of our Common Stock on the day of the grant. The shares vest ratably over the period specified in the grant. There is no partial vesting and any unvested portion is forfeited.

On December 13, 2018, we granted an aggregate of 1,040,000 restricted stock units to certain executive employees which will vest at the end of the third year. The grant date fair value was $4.06 per unit. At December 31, 2019, 150,000 of those restricted stock units vested due to an employment termination. On July 30, 2019, we granted an aggregate of 200,000 restricted stock units to certain executive employees which will vest on January 31, 2022. The grant date fair value was $2.18 per unit. During the year ended December 31, 2019 and 2018, we recorded $1,628,407 and $73,132, respectively, in share-based compensation expense related to restricted stock units. At December 31, 2019, total unrecognized estimated compensation expense related to unvested restricted stock units was approximately $2,711,000, which may be adjusted for future changes in forfeitures. This cost is expected to be recognized over a weighted-average period of 2.0 years. At December 31, 2019, we had 1,240,000 restricted stock awards outstanding.

Cash-Settled Stock Appreciation Rights (SARs)

On July 1, 2018, we issued cash-settled SARs to certain consultants and employees. The SARs plan year began on July 1, 2018 and ended on or immediately following June 30, 2019. SARs were granted with a grant price equal to the market value of a share of our Common Stock on the date of grant. Cash-settled SARs provided for the cash payment of the excess of the fair market value of our Common Stock on June 30, 2019 over the grant price. Cash-settled SARs have no effect on dilutive shares or shares outstanding as any appreciation of our Common Stock over the grant price is paid in cash and not in Common Stock.

Cash settled SARs were recorded in our consolidated balance sheets as a liability until the date of exercise. The fair value of each SAR award was estimated using the Black-Scholes valuation model. In accordance with ASC Topic 718, Stock Compensation, the fair value of each SAR award was recalculated at the end of each reporting period and the liability and expense adjusted based on the new fair value and the percent vested. At June 30, 2019, the fair market value of our Common Stock was lower than the grant price of the SARs and, as a result, the recorded liability was reversed and no cash payment was made.

INCOME TAXES

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 10 – INCOME TAXES

For financial reporting purposes, income before taxes includes the following components:

	2019			2018			2017
United States	$	(176,144,999	)	$	(132,617,160	)	$	(76,925,380	)
Total	$	(176,144,999	)	$	(132,617,160	)	$	(76,925,380	)

For the years ended December 31, 2019, 2018, and 2017, there was no provision for income taxes, current or deferred. At December 31, 2019, we had a federal net operating loss carry forward of approximately $620,354,163. Approximately $338,775,332 of the federal net operating loss carry forward can be carried forward for 20 years and will begin to expire in 2031. The remaining $281,578,831 can be carried forward indefinitely.

A reconciliation between taxes computed at the federal statutory rate and the consolidated effective tax rate is as follows:

	2019			2018			2017
Federal statutory tax rate		21.0	%		21.0	%		34.0	%
State tax rate, net of federal tax benefit		4.0	%		5.2	%		5.0	%
Adjustment in valuation allowances		(22.5	)%		(31.2	)%		22.6	%
Excess stock benefits		0.2	%		5.3	%		—	%
Federal income tax rate change		0	%		—	%		(60.8	)%
Permanent and other differences		(2.7	)%		(0.3	)%		(0.8	)%
Provision (benefit) for income taxes		—			—			—

Deferred income taxes result from temporary differences between the amount of assets and liabilities recognized for financial reporting and tax purposes.

The components of the net deferred income tax asset as of December 31, 2019, 2018, and 2017 are as follows:

	2019			2018			2017
Deferred Income Tax Assets:
Net operating losses	$	180,520,709		$	140,891,764		$	99,596,321
R&D Credit		186,347			186,347			186,347
Total deferred income tax asset		180,707,056			141,078,111			99,782,668
Valuation allowance		(180,707,056	)		(141,078,111	)		(99,782,668	)
Deferred income tax assets, net	$	—		$	—		$	—

We believe that it is more likely than not that we will not generate sufficient future taxable income to realize the tax benefits related to the deferred tax assets on our balance sheet and as such, a valuation allowance has been established against the deferred tax assets for the period ended December 31, 2019.

Unrecognized Tax Benefits

As of the period ended December 31, 2019, we have no unrecognized tax benefits.

On December 22, 2017, the U.S. federal government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act, or the Tax Act. The Tax Act makes broad and complex changes to the U.S. federal tax code, including, but not limited to reducing the U.S. federal corporate tax rate from 34 percent to 21 percent, effective January 1, 2018. As the result of our initial analysis of the impact of the Tax Act, we recorded a provisional amount of net tax expense of $46.7 million in 2017 related to the remeasurement of our deferred tax balances and other effects. We completed our accounting for the income tax effects of the Tax Act in 2018, and no material adjustments were required to the provisional amounts initially recorded.

RELATED PARTIES

12 Months Ended

Dec. 31, 2019

RELATED PARTIES

NOTE 11 – RELATED PARTIES

In July 2015, J. Martin Carroll, a director of our company, was appointed to the board of directors of Catalent, Inc. From time to time, we have entered into agreements with Catalent, Inc. and its affiliates, or Catalent, in the normal course of business. Agreements with Catalent have been reviewed by independent directors of our Company, or a committee consisting of independent directors of our company, since July 2015. During the years ended December 31, 2019, 2018 and 2017, we were billed by Catalent approximately $6,101,000, $4,111,000 and $3,646,000, respectively, for manufacturing activities related to our clinical trials, scale-up, registration batches, stability and validation testing. As of December 31, 2019 and 2018, there were amounts due to Catalent of approximately $35,000 and $88,000, respectively. In addition, we have minimum purchase requirements in place with Catalent as disclosed in Note 13, Commitments and Contingencies.

BUSINESS CONCENTRATIONS

12 Months Ended

Dec. 31, 2019

Risks and Uncertainties [Abstract]

BUSINESS CONCENTRATIONS

NOTE 12 – BUSINESS CONCENTRATIONS

We purchase our prescription products from several suppliers with approximately 24%, 27% and 35% of our purchases supplied by three vendors each, respectively, during the year ended December 31, 2019, 43%, 33% and 24% of our purchases supplied by three vendors each, respectively, during the year ended December 31, 2018, and 100% of our purchases supplied by one vendor for the year ended December 31, 2017.

We sell our prescription products to wholesale distributors, specialty pharmacies, specialty distributors, and chain drug stores that generally sell products to retail pharmacies, hospitals, and other institutional customers. During each of the years ended December 31, 2019, 2018 and 2017, four customers each accounted for more than 10% of our total prescription revenues. Prescription revenue from the four customers combined accounted for approximately 73%, 76%, and 59% of our prescription revenue for the years ended December 31, 2019, 2018 and 2017, respectively.

During the year ended December 31, 2019, McKesson Corporation accounted for approximately $3,911,000 of our prescription revenue, Pillpack, Inc. accounted for approximately $12,676,000 of our prescription revenue, AmerisourceBergen accounted for approximately $3,927,000 of our prescription revenue and Cardinal Health accounted for approximately $4,551,000 of our prescription revenue. During the year ended December 31, 2018, McKesson Corporation accounted for approximately $1,610,000 of our prescription revenue, Pillpack, Inc. accounted for approximately $5,075,000 of our prescription revenue, AmerisourceBergen accounted for approximately $3,246,000 of our prescription revenue and Cardinal Health accounted for approximately $2,308,000 of our prescription revenue. During the year ended December 31, 2017, AmerisourceBergen accounted for approximately $2,667,000 of our prescription revenue; McKesson Corporation accounted for approximately $1,959,000 of our prescription revenue; Cardinal Health accounted for approximately $2,559,000 of our prescription revenue and Pharmacy Innovations PA accounted for approximately $2,715,000 of our prescription revenue.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 13 – COMMITMENTS AND CONTINGENCIES

Operating Leases

We adopted ASC 842 effective January 1, 2019. Substantially all our operating lease right-of-use assets and operating lease liabilities represent leases for office space used to conduct our business. Upon adoption, we recognized a right-of-use asset and a lease liability for all leases that have commenced as of January 1, 2019. The right-of-use assets represent the right to use the leased asset for the lease term. The lease liabilities represent the present value of the lease payments under the lease. The right-of-use asset is initially measured at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, less any lease incentives received. All right-of-use assets are reviewed for impairment. The lease liability is initially measured at the present value of the lease payments, discounted using our secured incremental borrowing rate for the same term as the underlying lease because the rates are not implicit in the leases. Some of our leases contain variable lease payments, including payments based on an index or rate. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at lease commencement. Additional payments based on the change in an index or rate, or payments based on a change in our portion of the operating expenses are recorded as a period expense when incurred. Lease modifications result in remeasurement of the lease liability. Included in lease expense are any variable lease payments incurred in the period that were not included in the initial lease liability.

We lease administrative office space in Boca Raton, Florida pursuant to a non-cancelable operating lease that commenced on July 1, 2013 and originally provided for a 63-month term. On February 18, 2015, we entered into an agreement with the same lessors to lease additional administrative office space in the same location, pursuant to an addendum to such lease. In addition, on April 26, 2016, we entered into an agreement with the same lessors to lease additional administrative office space in the same location. This agreement was effective beginning May 1, 2016 and extended the original expiration of the lease term to October 31, 2021. On October 4, 2016, we entered into an agreement with the same lessors to lease additional administrative office space in the same location, pursuant to an addendum to such lease. This addendum became effective beginning November 1, 2016.

In October 2018, we entered into a lease for new corporate offices in Boca Raton, Florida. The lease includes 56,212 rentable square feet, or the full premises, of which the lease on 7,561 square feet commenced in 2018 and the lease on the remaining 48,651 square feet commenced in August 2019, or the full premises commencement date. The lease will expire 11 years after the full premises commencement date, unless terminated earlier in accordance with the terms of the lease. We have the option to extend the term of the lease for two additional consecutive periods of five years. The extension option is not included in the determination of the lease term as it is not reasonably certain to be exercised. The term of the lease includes escalating rent and free rent periods. We are also responsible for certain other operating costs under the lease, including electricity and utility expenses. In June 2019, we entered into an agreement with the same lessors to lease additional 6,536 square feet of administrative office space in the same location, pursuant to an addendum to such lease, which is expected to commence as soon as the first quarter of 2020.

Supplemental lease information at December 31, 2019
Right-of-use asset	$	10,109,154
Short-term operating lease liability (included in Other current liabilities)	$	1,501,539
Long-term operating lease liability	$	9,145,049
Weighted average remaining term		9 Years
Weighted average discount rate		8.25	%

Supplemental cash flow information for the year ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities for operating lease	$	1,164,234
Right-of-use assets obtained in exchange for lease obligation	$	11,171,471

The following table reconciles the undiscounted cash flows for all operating leases at December 31, 2019 to the operating lease liabilities recorded on the balance sheet:

Years Ending December 31,
2020	$	1,566,617
2021		2,198,541
2022		1,262,302
2023		1,293,859
2024		1,326,206
Thereafter		8,036,931
Total undiscounted lease payments		15,684,456
Less: imputed interest		(5,037,868	)
Present value of lease payments	$	10,646,588

During the year ended December 31, 2019, operating lease expense related to our real estate leases was $1,558,794, and variable lease expense was insignificant. The rental expense during the years ended December 31, 2018 and 2017 was $1,068,275 and $1,029,205, respectively.

Intellectual Property Licenses

The Population Council License Agreement provides for future milestone payments to be paid by us for access to certain technologies. In addition, we pay royalties as a percent of revenue as described in Note 6, Intangible Assets, to these consolidated financial statements.

Purchase Commitments

We have manufacturing and supply agreements whereby we are required to purchase from Catalent a minimum number of softgels during the first contract year and a higher number of softgels after the first contract year. If the minimum order quantities of specific products are not met, we are required to pay Catalent 50% of the difference between the total amount we would have paid to Catalent if the minimum requirement had been fulfilled and the sum of all purchases of our products from Catalent during the contract year. Minimum purchase commitments for Catalent for the next five years are as follows: 2020 – $5,650,853; 2021 – $4,000,035; 2022 – $5,643,291; 2023 – $6,445,301 and 2024 – $6,758,945. In addition, we have a manufacturing and supply agreement whereby we are required to purchase a minimum number of units of ANNOVERA during a contract year. The minimum purchase commitment for ANNOVERA for 2020 is approximately $1,049,750. As of December 31, 2019, we have met our minimum purchase commitments with our manufacturers related to fiscal year 2019.

Legal Proceedings

From time to time, we are involved in litigation and proceedings in the ordinary course of business. We are not currently involved in any legal proceeding that we believe would have a material effect on our consolidated financial condition, results of operations, or cash flows.

Off-Balance Sheet Arrangements

As of December 31, 2019, 2018, and 2017, we had no off-balance sheet arrangements that have had or are reasonably likely to have current or future effects on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

Employment Agreements

We have entered into employment agreements with certain of our executives that provide for compensation and certain other benefits. Under certain circumstances, including a change in control, some of these agreements provide for severance or other payments, if those circumstances occur during the term of the employment agreement.

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

NOTE 14 – SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Summarized quarterly financial data for fiscal years 2019 and 2018 is as follows:


	2019
*(In thousands, except per share)*	First Quarter			Second Quarter⁽¹⁾			Third Quarter⁽²⁾			Fourth Quarter
Revenues	$	3,947		$	6,079		$	23,719		$	15,902
Gross profit	$	3,184		$	4,830		$	22,275		$	13,023
Net loss	$	(39,506	)	$	(55,237	)	$	(31,967	)	$	(49,435	)

Loss per common share, basic and diluted	$	(0.16	)	$	(0.23	)	$	(0.13	)	$	(0.19	)


	2018
*(In thousands, except per share)*	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Revenues	$	3,773		$	3,763		$	3,474		$	5,089
Gross profit	$	3,139		$	3,309		$	2,775		$	4,139
Net loss	$	(24,402	)	$	(33,219	)	$	(35,605	)	$	(39,391	)

Loss per common share, basic and diluted	$	(0.11	)	$	(0.15	)	$	(0.16	)	$	(0.17	)

(1)

During the second quarter of 2019, we recorded $10.1 million in loss on extinguishment of debt related to the repayment of the Credit Agreement. Refer to discussion in Note 8-Debt.

(2)

During the third quarter of 2019, we recorded $15.5 million in license revenue related to the Theramex License Agreement. Refer to discussion in Note 2-Summary of Significant Accounting Policies.

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 15 – SUBSEQUENT EVENTS

On February 18, 2020, we received $50,000,000 under the Financing Agreement following our achievement of more than $11,000,000 in net revenues from IMVEXXY, BIJUVA and ANNOVERA for the fourth quarter of 2019 (refer to discussion in Note 8-Debt).

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Principles of Consolidation

Cash

Trade Accounts Receivable and Allowance for Doubtful Accounts

Inventories

Pre-Launch Inventory

Fixed Assets

Intangible Assets

Impairment of Long-Lived Assets

●

significant declines in an asset’s market price;

●

significant deterioration in an asset’s physical condition;

●

significant changes in the nature or extent of an asset’s use or operation;

●

significant adverse changes in the business climate that could impact an asset’s value, including adverse actions or assessments by regulators;

●

accumulation of costs significantly in excess of original expectations related to the acquisition or construction of an asset;

●

current-period operating or cash flow losses combined with a history of such losses or a forecast that demonstrates continuing losses associated with an asset’s use; and

●

expectations that it is more likely than not that an asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life.

Fair Value of Financial Instruments

	Level 1	unadjusted quoted prices in active markets for identical assets or liabilities;
	Level 2	quoted prices for similar assets or liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and
	Level 3	unobservable inputs for the assets or liabilities.

At December 31, 2019 and 2018, we had no assets or liabilities that were valued at fair value on a recurring basis.

Income Taxes

Our U.S. federal and state tax returns since 2011, which was the first year we generated net operating losses, remain open to examination.

Share-Based Compensation

Revenue Recognition

Prescription Products

License Revenue

License Agreement with Knight Therapeutics Inc.

License Agreement with Theramex

Disaggregation of revenue

The following table provides information about disaggregated revenue by product mix for the years ended December 31, 2019, 2018, and 2017:


	For the Years Ended December 31,
	2019		2018		2017
Prescription vitamins	$	9,885,493	$	15,041,259	$	16,744,831
IMVEXXY		16,252,045		1,058,201		—
BIJUVA		1,836,443		—		—
ANNOVERA		6,166,556		—		—
License revenue		15,506,400		—		—
OTC products		—		—		32,882
Net revenue	$	49,646,937	$	16,099,460	$	16,777,713

Shipping and Handling Costs

We expense all shipping and handling costs as incurred. We include these costs in cost of goods sold on the accompanying consolidated financial statements.

Segment Reporting

Cost of Sales

Advertising Costs

We expense advertising costs when incurred. Advertising costs were $9,045,571, $1,682,746 and $448,288 during the years ended December 31, 2019, 2018, and 2017, respectively.

Research and Development Expenses

Earnings Per Share

The table below presents potentially dilutive securities that could affect our calculation of diluted net loss per share allocable to common stockholders for the periods presented.


	As of December 31,
	2019		2018		2017
Stock options		25,030,234		20,872,824		23,365,225
Warrants		1,832,571		3,007,571		3,115,905
Restricted stock awards		1,240,000		1,040,000		—
		28,102,805		24,920,395		26,481,130

Concentration of Credit Risk and other Risks and Uncertainties

Use of Estimates

Recently Issued Accounting Pronouncements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

The following table provides information about disaggregated revenue by product mix for the years ended December 31, 2019, 2018, and 2017:


	For the Years Ended December 31,
	2019		2018		2017
Prescription vitamins	$	9,885,493	$	15,041,259	$	16,744,831
IMVEXXY		16,252,045		1,058,201		—
BIJUVA		1,836,443		—		—
ANNOVERA		6,166,556		—		—
License revenue		15,506,400		—		—
OTC products		—		—		32,882
Net revenue	$	49,646,937	$	16,099,460	$	16,777,713

The table below presents potentially dilutive securities that could affect our calculation of diluted net loss per share allocable to common stockholders for the periods presented.


	As of December 31,
	2019		2018		2017
Stock options		25,030,234		20,872,824		23,365,225
Warrants		1,832,571		3,007,571		3,115,905
Restricted stock awards		1,240,000		1,040,000		—
		28,102,805		24,920,395		26,481,130

INVENTORY (Tables)

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Inventory consists of the following:


	December 31,
	2019		2018
Finished products	$	4,976,910	$	2,908,958
Work in process		1,182,059		339,312
Raw materials		5,701,747		19,400
TOTAL INVENTORY	$	11,860,716	$	3,267,670

OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other current assets consist of the following:


	December 31,
	2019		2018
Prepaid sales and marketing costs	$	1,583,698	$	5,148,789
Debt financing fees on undrawn tranches (Note 8)		550,757		1,898,074
Prepaid insurance		1,812,135		790,465
Prepaid manufacturing		2,595,721		—
Other prepaid costs		4,787,482		2,997,365
TOTAL OTHER CURRENT ASSETS	$	11,329,793	$	10,834,693

FIXED ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Fixed assets, net consist of the following:


	December 31,
	2019			2018
Accounting system	$	301,096		$	301,096
Equipment		1,619,646			490,576
Furniture and fixtures		1,406,858			116,542
Computer hardware		80,211			80,211
Leasehold improvements		68,788			37,888
TOTAL FIXED ASSETS		3,476,599			1,026,313
Accumulated depreciation		(968,824	)		(553,630	)
TOTAL FIXED ASSETS, NET	$	2,507,775		$	472,683

INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of our intangible assets as of December 31, 2019 and 2018:


	December 31, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Amount		Weighted- Average Remaining Amortization Period (yrs.)
Amortizable intangible assets:
Approved hormone
therapy drug
candidate patents	$	3,463,082	$	(478,983	)	$	2,984,099		13
Hormone therapy drug
candidate patents
(pending)		1,979,299		—			1,979,299		n/a
Non-amortizable intangible
assets:
Multiple trademarks		294,813		—			294,813		indefinite
TOTAL	$	5,737,194	$	(478,983	)	$	5,258,211


	December 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Amount		Weighted- Average Remaining Amortization Period (yrs.)
Amortizable intangible assets:
OPERA software patent	$	31,951	$	(10,484	)	$	21,467		10.75
Development costs of
corporate website		91,743		(91,743	)		—		n/a
Approved hormone
therapy drug
candidate patents		2,234,129		(282,485	)		1,951,644		14
Hormone therapy drug
candidate patents
(pending)		1,855,279		—			1,855,279		n/a
Non-amortizable intangible
assets:
Multiple trademarks		264,289		—			264,289		indefinite
TOTAL	$	4,477,391	$	(384,712	)	$	4,092,679

Estimated amortization expense, based on current patent cost being amortized, for the next five years is as follows:

Year Ending December 31,		Estimated Amortization
2020		$229,546
2021		$229,546
2022		$229,546
2023		$229,546
2024		$229,546

OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Other current liabilities consist of the following:


	December 31,
	2019		2018
Accrued payroll, bonuses and commission costs	$	8,040,278	$	6,854,002
Allowance for coupons and returns		10,316,298		5,294,120
Accrued sales and marketing costs		3,285,662		2,288,028
Accrued compensated absences		1,463,878		1,178,110
Allowance for wholesale distributor fees		2,347,122		792,891
Accrued legal and accounting expense		422,336		385,824
Accrued research and development		1,049,603		388,675
Accrued rent		—		365,155
Operating lease liability		1,501,539		—
Accrued rebates		3,916,672		412,570
Other accrued expenses		1,480,225		375,573
TOTAL OTHER CURRENT LIABILITIES	$	33,823,613	$	18,334,948

DEBT (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

As of December 31, 2019 and 2018, the carrying value of our debt consisted of the following:


	As of December 31,
	2019			2018
Financing Agreement	$	200,000,000		$	—
Credit Agreement		—			75,000,000
Debt discount and financing fees		(5,365,357	)		(1,618,986	)
TOTAL LONG-TERM DEBT	$	194,634,643		$	73,381,014

STOCKHOLDERS’ EQUITY (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Summary of our Warrant activity during the year ended December 31, 2019:

Summary of our Warrant activity during the year ended December 31, 2019:

	Number of Shares Under Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Balance at December 31, 2018		3,007,571		$	2.78		1.58	$	4,826,403
Granted		75,000		$	5.63
Exercised		(1,250,000	)	$	3.20			$	2,420,000
Expired		—			—				—
Cancelled/Forfeited		—			—				—
Balance at December 31, 2019		1,832,571		$	2.62		1.95	$	2,447,929
Vested and Exercisable at December 31, 2019		1,820,071		$	2.60		1.90	$	2,447,929
Unvested at December 31, 2019		12,500		$	5.63		9.13		—

	2019			2018			2017
Weighted average exercise price	$	5.63		$	5.16		$	6.83
Weighted average grant date fair value	$	3.00		$	2.79		$	3.67
Risk-free interest rate		2.52	%		2.36	%		1.47	%
Volatility		60.8	%		62.12	%		63.24	%
Term (in years)		5			5			5
Dividend yield		0.00	%		0.00	%		0.00	%

The ranges of assumptions used in the Black-Scholes Model during the years ended December 31, 2019, 2018, and 2017 are set forth in the table below.

	2019			2018			2017
Weighted average exercise price	$	3.10		$	5.45		$	6.60
Weighted average grant date fair value	$	1.82		$	3.24		$	3.82
Risk-free interest rate		1.64-2.54	%		2.38-2.89	%		1.84-2.05	%
Volatility		61.25-64.49	%		59.45-64.04	%		61.56-64.25	%
Term (in years)		5.5-6.5			5.1-6.25			5.5-6.25
Dividend yield		0.00	%		0.00	%		0.00	%

A summary of activity under the 2009, 2012 and 2019 Plans and related information during the year ended December 31, 2019 is as follows:

	Number of Shares Under Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Balance at December 31, 2018		20,872,824		$	4.93		5.94	$	12,239,876
Granted		4,620,501		$	3.10
Exercised		(343,716	)	$	0.32			$	1,426,828
Expired		(26,375	)	$	5.57
Cancelled/Forfeited		(93,000	)	$	5.16
Balance at December 31, 2019		25,030,234		$	4.65		5.84	$	3,668,171
Vested and Exercisable at December 31, 2019		18,025,819		$	4.88		4.62	$	3,319,621
Unvested at December 31, 2019		7,004,415		$	4.05		8.96	$	348,550

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

For financial reporting purposes, income before taxes includes the following components:

	2019			2018			2017
United States	$	(176,144,999	)	$	(132,617,160	)	$	(76,925,380	)
Total	$	(176,144,999	)	$	(132,617,160	)	$	(76,925,380	)

A reconciliation between taxes computed at the federal statutory rate and the consolidated effective tax rate is as follows:

	2019			2018			2017
Federal statutory tax rate		21.0	%		21.0	%		34.0	%
State tax rate, net of federal tax benefit		4.0	%		5.2	%		5.0	%
Adjustment in valuation allowances		(22.5	)%		(31.2	)%		22.6	%
Excess stock benefits		0.2	%		5.3	%		—	%
Federal income tax rate change		0	%		—	%		(60.8	)%
Permanent and other differences		(2.7	)%		(0.3	)%		(0.8	)%
Provision (benefit) for income taxes		—			—			—

The components of the net deferred income tax asset as of December 31, 2019, 2018, and 2017 are as follows:

	2019			2018			2017
Deferred Income Tax Assets:
Net operating losses	$	180,520,709		$	140,891,764		$	99,596,321
R&D Credit		186,347			186,347			186,347
Total deferred income tax asset		180,707,056			141,078,111			99,782,668
Valuation allowance		(180,707,056	)		(141,078,111	)		(99,782,668	)
Deferred income tax assets, net	$	—		$	—		$	—

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Supplemental lease information

Supplemental lease information at December 31, 2019
Right-of-use asset	$	10,109,154
Short-term operating lease liability (included in Other current liabilities)	$	1,501,539
Long-term operating lease liability	$	9,145,049
Weighted average remaining term		9 Years
Weighted average discount rate		8.25	%

Supplemental cash flow information for the year ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities for operating lease	$	1,164,234
Right-of-use assets obtained in exchange for lease obligation	$	11,171,471

The following table reconciles the undiscounted cash flows for all operating leases at December 31, 2019 to the operating lease liabilities recorded on the balance sheet:

Years Ending December 31,
2020	$	1,566,617
2021		2,198,541
2022		1,262,302
2023		1,293,859
2024		1,326,206
Thereafter		8,036,931
Total undiscounted lease payments		15,684,456
Less: imputed interest		(5,037,868	)
Present value of lease payments	$	10,646,588

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summarized quarterly financial data for fiscal years 2019 and 2018 is as follows:


	2019
*(In thousands, except per share)*	First Quarter			Second Quarter⁽¹⁾			Third Quarter⁽²⁾			Fourth Quarter
Revenues	$	3,947		$	6,079		$	23,719		$	15,902
Gross profit	$	3,184		$	4,830		$	22,275		$	13,023
Net loss	$	(39,506	)	$	(55,237	)	$	(31,967	)	$	(49,435	)

Loss per common share, basic and diluted	$	(0.16	)	$	(0.23	)	$	(0.13	)	$	(0.19	)


	2018
*(In thousands, except per share)*	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Revenues	$	3,773		$	3,763		$	3,474		$	5,089
Gross profit	$	3,139		$	3,309		$	2,775		$	4,139
Net loss	$	(24,402	)	$	(33,219	)	$	(35,605	)	$	(39,391	)

Loss per common share, basic and diluted	$	(0.11	)	$	(0.15	)	$	(0.16	)	$	(0.17	)

(1)

During the second quarter of 2019, we recorded $10.1 million in loss on extinguishment of debt related to the repayment of the Credit Agreement. Refer to discussion in Note 8-Debt.

(2)

During the third quarter of 2019, we recorded $15.5 million in license revenue related to the Theramex License Agreement. Refer to discussion in Note 2-Summary of Significant Accounting Policies.

THE COMPANY (Details Narrative)	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of subsidiaires	3

The following table provides information about disaggregated revenue by product mix for the years ended December 31, 2019, 2018, and 2017: (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Product Information [Line Items]
Net revenue	$ 15,902,000	$ 23,719,000	$ 6,079,000	$ 3,947,000	$ 5,089,000	$ 3,474,000	$ 3,763,000	$ 3,773,000	$ 49,646,937	$ 16,099,460	$ 16,777,713
Prescription Vitamins [Member]
Product Information [Line Items]
Net revenue									9,885,493	15,041,259	16,744,831
Imvexxy [Member]
Product Information [Line Items]
Net revenue									16,252,045	1,058,201
BIJUVA [Member]
Product Information [Line Items]
Net revenue									1,836,443
ANNOVERA [Member]
Product Information [Line Items]
Net revenue									6,166,556
License and Service [Member]
Product Information [Line Items]
Net revenue									$ 15,506,400
OTC Products [Member]
Product Information [Line Items]
Net revenue											$ 32,882

The table below presents potentially dilutive securities that could affect our calculation of diluted net loss per share allocable to common stockholders for the periods presented. (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	28,102,805	24,920,395	26,481,130
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,832,571	3,007,571	3,115,905
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	25,030,234	20,872,824	23,365,225
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,240,000	1,040,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)					12 Months Ended
	Aug. 05, 2019 USD ($)	Aug. 05, 2019 EUR (€)	Jun. 06, 2019 EUR (€)	Aug. 06, 2018 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Aug. 31, 2019 USD ($)	Jan. 02, 2019 USD ($)
Product Information [Line Items]
Federal insurance limits					$ 250,000
Number of issued patents domestic.					29
Number of issued patents foreign					30
Stock Issued During Period, Value, New Issues					$ 77,031,258	$ 89,907,797	$ 68,572,635
Number of operating segments					1
Advertising costs					$ 9,045,571	1,682,746	$ 448,288
Right of use asset					10,109,154			$ 7,400,000
Lease liability					$ 10,646,588			$ 7,200,000
Accounting Standards Update 2016-02 [Member]
Product Information [Line Items]
Right of use asset									$ 3,800,000
Lease liability									$ 4,100,000
License Agreement Theramex
Product Information [Line Items]
Cash upfront payment received	$ 15,506,400	€ 14,000,000
Subscription Agreement Knight [Member]
Product Information [Line Items]
Stock Issued During Period, Shares, New Issues \| shares				3,921,568
Sale of Stock, Price Per Share \| $ / shares				$ 5.10
Stock Issued During Period, Value, New Issues				$ 20,000,000
Vitamins and IMVEXXY [Member]
Product Information [Line Items]
Shelf life of prescription products following product expiration					24 months
BIJUVA and ANNOVERA [Member]
Product Information [Line Items]
Shelf life of prescription products following product expiration					18 months
BIJUVA and ANNOVERA [Member] \| License Agreement Theramex
Product Information [Line Items]
Quarterly royalty payments percentage			5.00%
Minimum [Member]
Product Information [Line Items]
Return period of unsalable prescription products					6 months
Minimum [Member] \| License Agreement Theramex
Product Information [Line Items]
Sales milestone \| €			€ 25,000,000
Maximum [Member]
Product Information [Line Items]
Return period of unsalable prescription products					12 months
Maximum [Member] \| License Agreement Theramex
Product Information [Line Items]
Regulatory milestone payments \| €			2,000,000
Sales milestone payment \| €			27,500,000
Sales milestone \| €			€ 100,000,000
Land and Building [Member] \| Minimum [Member]
Product Information [Line Items]
Useful life of assets					3 years
Land and Building [Member] \| Maximum [Member]
Product Information [Line Items]
Useful life of assets					7 years
Software and Software Development Costs [Member] \| Minimum [Member]
Product Information [Line Items]
Useful life of assets					5 years
Software and Software Development Costs [Member] \| Maximum [Member]
Product Information [Line Items]
Useful life of assets					7 years
Accounts Receivable [Member] \| Customer A [Member]
Product Information [Line Items]
Concentration risk					36.00%	42.00%
Accounts Receivable [Member] \| Customer B [Member]
Product Information [Line Items]
Concentration risk					21.00%	24.00%
Accounts Receivable [Member] \| Customer C [Member]
Product Information [Line Items]
Concentration risk					16.00%	13.00%
Accounts Receivable [Member] \| Customer D [Member]
Product Information [Line Items]
Concentration risk					11.00%

Inventory consists of the following: (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished products	$ 4,976,910	$ 2,908,958
Work in process	1,182,059	339,312
Raw materials	5,701,747	19,400
TOTAL INVENTORY	$ 11,860,716	$ 3,267,670

Other current assets consist of the following: (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid sales and marketing costs	$ 1,583,698	$ 5,148,789
Debt financing fees on undrawn tranches (Note 8)	550,757	1,898,074
Prepaid insurance	1,812,135	790,465
Prepaid manufacturing	2,595,721
Other prepaid costs	4,787,482	2,997,365
TOTAL OTHER CURRENT ASSETS	$ 11,329,793	$ 10,834,693

Fixed assets, net consist of the following: (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	$ 3,476,599	$ 1,026,313
Accumulated depreciation	(968,824)	(553,630)
TOTAL FIXED ASSETS, NET	2,507,775	472,683
Software and Software Development Costs [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	301,096	301,096
Equipment [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	1,619,646	490,576
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	1,406,858	116,542
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	80,211	80,211
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	$ 68,788	$ 37,888

FIXED ASSETS, NET (Details Narrative) - USD ($)	12 Months Ended
FIXED ASSETS, NET (Details Narrative) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 415,193	$ 181,412	$ 141,601

The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of our intangible assets as of December 31, 2019 and 2018: (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ (478,983)	$ (384,712)
Intangible Assets, Gross (Excluding Goodwill)	5,737,194	4,477,391
Intangible Assets, Net (Excluding Goodwill)	5,258,211	4,092,679
Hormone Therapy Drug Candidate Patents - (Pending) [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,979,299	1,855,279
Finite-Lived Intangible Assets, Net	1,979,299	1,855,279
Multiple Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Trademarks	294,813	264,289
Indefinite-lived Intangible Assets (Excluding Goodwill)	294,813	264,289
Approved Hormone Therapy Drug Candidate Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	3,463,082	2,234,129
Finite-Lived Intangible Assets, Accumulated Amortization	(478,983)	(282,485)
Finite-Lived Intangible Assets, Net	$ 2,984,099	$ 1,951,644
Finite-Lived Intangible Assets, Remaining Amortization Period	13 years	14 years
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		$ 31,951
Finite-Lived Intangible Assets, Accumulated Amortization		(10,484)
Finite-Lived Intangible Assets, Net		$ 21,467
Finite-Lived Intangible Assets, Remaining Amortization Period		10 years 9 months
Internet Domain Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		$ 91,743
Finite-Lived Intangible Assets, Accumulated Amortization		$ (91,743)

Estimated amortization expense, based on current patent cost being amortized, for the next five years is as follows: (Details)	Dec. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 229,546
2021	229,546
2022	229,546
2023	229,546
2024	$ 229,546

INTANGIBLE ASSETS, NET (Details Narrative)	3 Months Ended	12 Months Ended
INTANGIBLE ASSETS, NET (Details Narrative)	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Finite-Lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		$ 78,864
Amortization of Intangible Assets		197,593	$ 112,474	$ 71,516
Amortization of Other Deferred Charges		$ 778,692
Council License Agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Annual royalty rate reduction of initial rate during the six-month period from commercial sale of a generic equivalent		50.00%
Annual royalty rate reduction of initial rate after the six-month period from commercial sale of a generic equivalent		20.00%
Required milestone payments upon cumulative net sales of specified levels		$ 40,000,000
Specified level one of cumulative net sales for required milestone payments		200,000,000
Specified level two of cumulative net sales for required milestone payments		400,000,000
Specified level three of cumulative net sales for required milestone payments		1,000,000,000
Maximum costs and expenses for post approval		$ 20,000,000
Council License Agreement Step 1
Finite-Lived Intangible Assets [Line Items]
Royalty (percent)		5.00%
Council License Agreement Step 1 \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Net sales amount per step-based royalty		$ 50,000,000
Council License Agreement Step 2
Finite-Lived Intangible Assets [Line Items]
Royalty (percent)		10.00%
Council License Agreement Step 2 \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Net sales amount per step-based royalty		$ 150,000,000
Council License Agreement Step 2 \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Net sales amount per step-based royalty		$ 50,000,000
Council License Agreement Step 3
Finite-Lived Intangible Assets [Line Items]
Royalty (percent)		15.00%
Council License Agreement Step 3 \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Net sales amount per step-based royalty		$ 150,000,000
ANNOVERA [Member] \| Council License Agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Milestone payment upon FDA Approval	$ 20,000,000
Milestone payments (payment after release of first commercial batch)	20,000,000
License rights acquired	$ 20,000,000
Amortization of Other Deferred Charges		$ 778,692
Approved Hormone Therapy Drug Candidate Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		20 years
Domestic US Patents
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		29
Foreign Patents Member
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		30
Domestic Patents BIJUVA
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		12
Foreign Patents BIJUVA
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		6
Domestic Patents NonApproved BIJUVA
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		3
Domestic US Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		6
Domestic US Utility Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		5
Domestic US Design Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		1
Foreign Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		13
Foreign Utility Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		3
Foreign Design Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		10
Domestic US Patents Topical Cream
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		1
Domestic Utility Patent Transdermal Patch
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		1
Foreign Utility Patent Transdermal Patch
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		7
Domestic Utility Patent TX009HR
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		3
Domestic Patents Progesterone Formulations
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		2
Foreign Patents Progesterone Formulations
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		4
Domestic Utility Patent Opera
Finite-Lived Intangible Assets [Line Items]
Number of issued patents		1

Other current liabilities consist of the following: (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Accrued payroll, bonuses and commission costs	$ 8,040,278	$ 6,854,002
Allowance for coupons and returns	10,316,298	5,294,120
Accrued sales and marketing costs	3,285,662	2,288,028
Accrued compensated absences	1,463,878	1,178,110
Allowance for wholesale distributor fees	2,347,122	792,891
Accrued legal and accounting expense	422,336	385,824
Accrued research and development	1,049,603	388,675
Accrued rent		365,155
Operating lease liability	1,501,539
Accrued rebates	3,916,672	412,570
Other accrued expenses	1,480,225	375,573
TOTAL OTHER CURRENT LIABILITIES	$ 33,823,613	$ 18,334,948

As of December 31, 2019 and 2018, the carrying value of our debt consisted of the following: (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt discount and financing fees	$ (5,365,357)	$ (1,618,986)
TOTAL LONG-TERM DEBT	194,634,643	73,381,014
Financing Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 200,000,000
Credit Agreement Member
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 75,000,000

DEBT (Details Narrative)				3 Months Ended								12 Months Ended
DEBT (Details Narrative)	Feb. 18, 2020 USD ($)	Apr. 24, 2019 USD ($)	May 01, 2018 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Proceeds from Lines of Credit												$ 200,000,000
Net revenue				$ 15,902,000	$ 23,719,000	$ 6,079,000	$ 3,947,000	$ 5,089,000	$ 3,474,000	$ 3,763,000	$ 3,773,000	49,646,937	16,099,460	16,777,713
Loss on extinguishment of debt						$ (10,100,000)						(10,057,632)
Amortization of Debt Issuance Costs												856,302	269,859
Payments of Financing Costs												6,652,270	$ 3,786,918
Debt Instrument, Unamortized Discount				$ 6,101,513								$ 6,101,513
Debt Instrument, Interest Rate, Effective Percentage				11.00%								11.00%
Financing Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross				$ 200,000,000								$ 200,000,000
Interest Expense, Borrowings												14,709,166
IMVEXXY, BIJUVA and ANNOVERA [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Net revenue				$ 11,000,000
Subsequent Event [Member] \| Financing Agreement [Member]
Debt Instrument [Line Items]
Proceeds from Lines of Credit	$ 50,000,000
Tranche 1 [Member]
Debt Instrument [Line Items]
Amortization of Debt Issuance Costs												736,156
Financing Agreement [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis		3-month LIBOR
Debt Instrument, Basis Spread on Variable Rate		7.75%
LIBOR floor rate		2.70%
Number of quarterly principal installment payments		4
Prepayment fee for first two years funding (percent)		30.00%
Prepayment fee third year funding (percent)		5.00%
Prepayment fee fourth year funding (percent)		3.00%
Prepayment fee fifth year funding (percent)		1.00%
Facility fee paid (percent)		2.50%
Minimum cash balance requirement under credit agreement		$ 50,000,000
Financing Agreement [Member] \| Prime Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis		prime rate
Debt Instrument, Basis Spread on Variable Rate		6.75%
LIBOR floor rate		5.20%
Financing Agreement [Member] \| Tranche 1 [Member]
Debt Instrument [Line Items]
Proceeds from Lines of Credit		$ 200,000,000
Financing Agreement [Member] \| Tranche Two [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		50,000,000
Financing Agreement [Member] \| Tranche 3 [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Proceeds from Lines of Credit	$ 50,000,000
Financing Agreement [Member] \| Tranche Two Three Member
Debt Instrument [Line Items]
Minimum cash balance requirement under credit agreement		60,000,000
Credit Agreement [Member]
Debt Instrument [Line Items]
Repayment of debt with new credit facility		$ 81,661,000
Prepayment fee percentage		4.00%
Repayment fee percentage		4.00%
Interest Expense, Debt												1,816,747
Amortization of Debt Issuance Costs												$ 120,146
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			7.75%
Revolving Credit Facility [Member] \| Financing Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 300,000,000
Secured Debt [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 200,000,000
Debt Instrument, Description of Variable Rate Basis			one-month LIBOR
LIBOR floor rate			1.50%
Number of tranches under term loan facility			3

Summary of our Warrant activity during the year ended December 31, 2019: (Details) - Warrant [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Class of Warrant or Right [Line Items]
Number of shares under warrants outstanding beginning	3,007,571
Weighted average exercise price warrants outstanding beginning	$ 2.78
Weighted average remaining contractual life, warrants outstanding	1 year 11 months 12 days	1 year 6 months 29 days
Aggregate intrinsic value, warrants outstanding beginning	$ 4,826,403
Number of shares under warrants granted	75,000
Weighted average exercise price warrants granted	$ 5.63
Number of shares under warrants exercised	(1,250,000)
Weighted average exercise price warrants exercised	$ 3.20
Aggregate intrinsic value, warrants exercised	$ 2,420,000
Number of shares under warrants outstanding ending	1,832,571	3,007,571
Weighted average exercise price warrants outstanding ending	$ 2.62	$ 2.78
Aggregate intrinsic value, warrants outstanding ending	$ 2,447,929	$ 4,826,403
Number of shares under warrants vested and exercisable ending	1,820,071
Weighted average exercise price warrants vested and exercisable ending	$ 2.60
Weighted average remaining contractual life, vested and exercisable ending	1 year 10 months 24 days
Aggregate intrinsic value, vested and exercisable ending	$ 2,447,929
Number of shares under warrants unvested ending	12,500
Weighted average exercise price warrants unvested ending	$ 5.63
Weighted average remaining contractual life, warrants unvested ending	9 years 1 month 17 days

The weighted average fair value per share of warrants issued and the assumptions used in the Black-Scholes Model during the years ended December 31, 2019, 2018, and 2017 are set forth in the table below. (Details) - Warrant [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Warrant or Right [Line Items]
Weighted average exercise price	$ 5.63	$ 5.16	$ 6.83
Weighted average grant date fair value	$ 3.00	$ 2.79	$ 3.67
Risk-free interest rate	2.52%	2.36%	1.47%
Volatility	60.80%	62.12%	63.24%
Term	5 years	5 years	5 years
Dividend yield	0.00%	0.00%	0.00%

The ranges of assumptions used in the Black-Scholes Model during the years ended December 31, 2019, 2018, and 2017 are set forth in the table below. (Details) - Share-based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price	$ 3.10	$ 5.45	$ 6.60
Weighted average grant date fair value	$ 1.82	$ 3.24	$ 3.82
Risk-free interest rate - minimum	1.64%	2.38%	1.84%
Risk-free interest rate - maximum	2.54%	2.89%	2.05%
Volatility - minimum	61.25%	59.45%	61.56%
Volatility - maximum	64.49%	64.04%	64.25%
Dividend yield	0.00%	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	5 years 6 months	5 years 1 month 6 days	5 years 6 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	6 years 6 months	6 years 3 months	6 years 3 months

A summary of activity under the 2009, 2012 and 2019 Plans and related information during the year ended December 31, 2019 is as follows: (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares under options, exercised			(102,546)
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares under options, beginning	20,872,824
Weighted average exercise price, beginning	$ 4.93
Weighted average remaining contractual life	5 years 10 months 2 days	5 years 11 months 8 days
Aggregate intrinsic value, beginning	$ 12,239,876
Number of shares under options, granted	4,620,501
Weighted average exercise price, granted	$ 3.10
Number of shares under options, exercised	(343,716)
Weighted average exercise price, exercised	$ 0.32
Aggregate intrinsic value, exercised	$ 1,426,828
Number of shares under options, expired	(26,375)
Weighted average exercise price, expired	$ 5.57
Number of shares under options, cancelled forfeited	(93,000)
Weighted average exercise price, cancelled forfeited	$ 5.16
Number of shares under options, ending	25,030,234	20,872,824
Weighted average exercise price, ending	$ 4.65	$ 4.93
Aggregate intrinsic value, ending	$ 3,668,171	$ 12,239,876
Number of shares under options, vested and exercisable ending	18,025,819
Weighted average exercise price, vested and exercisable ending	$ 4.88
Weighted average remaining contractual life, vested and exercisable	4 years 7 months 13 days
Aggregate intrinsic value, vested and exercisable ending	$ 3,319,621
Number of shares under options, unvested ending	7,004,415
Weighted average exercise price, unvested ending	$ 4.05
Weighted average remaining contractual life, unvested	8 years 11 months 15 days
Aggregate intrinsic value, unvested ending	$ 348,550

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)								12 Months Ended
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	Oct. 29, 2019	Jul. 30, 2019	Dec. 13, 2018	Aug. 06, 2018	Aug. 06, 2018	Sep. 28, 2017	Sep. 25, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Warrant or Right [Line Items]
Preferred Stock, Shares Authorized								10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share								$ 0.001	$ 0.001
Preferred Stock, Shares Issued								0	0
Preferred Stock, Shares Outstanding								0	0
Common Stock, Shares Authorized								350,000,000	350,000,000
Common Stock, Shares, Issued								271,177,076	240,462,439
Common Stock, Shares, Outstanding								271,177,076	240,462,439
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period										102,546
Stock Issued During Period, Value, Stock Options Exercised									$ 1,666,208	$ 212,615
Number of stock options exercised in cashless exercise (in shares)								12,097	10,000
Number of common stock issued during period for stock options exercised in cashless exercise (in shares)								11,834	9,841
Stock Issued During Period, Value, New Issues								$ 77,031,258	$ 89,907,797	68,572,635
Warrants and Rights Outstanding								$ 1,832,571
Weighted-average contractual remaining life								1 year 11 months 12 days
Share-based Payment Arrangement, Noncash Expense								$ 10,693,662	8,661,967	6,889,323
Shares issued for exercise of warrants, net										3,798,999
Share-based Payment Arrangement, Expense								8,798,707	8,091,294	6,447,154
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount								11,460,000
Restricted Stock or Unit Expense								1,628,407	73,132
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount								$ 2,711,000
2009 Long Term Incentive Compensation Plan [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number								15,017,759
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized								100,050
2012 Stock Incentive Plan [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number								6,316,474
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized								2,395,333
Plan 2019 [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number								3,696,001
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized								13,599,382
Plan awards number of new shares								11,103,999
Minimum [Member]
Class of Warrant or Right [Line Items]
Range - exercise price of options								$ 0.19
Maximum [Member]
Class of Warrant or Right [Line Items]
Range - exercise price of options								$ 8.92
Warrants Member
Class of Warrant or Right [Line Items]
Share-based Payment Arrangement, Noncash Expense								$ 254,970	$ 494,136	$ 313,271
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount								$ 26,446
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition								1 month 6 days
Warrants exercised										2,476,666
Number of stock issued in cashless exercise of warrants									0
Shares issued for exercise of warrants, net										$ 3,798,999
Warrants Member \| Minimum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights								$ 0.24
Warrants Member \| Maximum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights								8.20
Warrant [Member]
Class of Warrant or Right [Line Items]
Weighted average exercise price of warrants (in dollars per share)								$ 2.62	$ 2.78
Warrants granted								75,000
Warrants exercised								1,250,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number								12,500
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number								1,832,571	3,007,571
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value								$ 3.00	$ 2.79	$ 3.67
Outside Consultants Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants granted									175,000	125,000
Warrants vesting period								12 months	12 months	12 months
Warrants expiration date								Feb. 13, 2024	Mar. 15, 2023	Mar. 15, 2022
Warrants - Cashless Exercise [Member]
Class of Warrant or Right [Line Items]
Warrants exercised										6,590,000
Number of stock issued in cashless exercise of warrants								471,184		4,762,208
Equity Option [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period								331,619	5,444,526
Stock Issued During Period, Value, Stock Options Exercised								$ 108,656	$ 1,666,208
Restricted Stock [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number								1,240,000
Restricted Stock [Member] \| 2012 Stock Incentive Plan [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number								1,040,000
Restricted Stock [Member] \| Plan 2019 [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number								200,000
Share-based Payment Arrangement, Option [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period								343,716
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition								2 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number								25,030,234	20,872,824
Restricted Stock Units (RSUs) [Member]
Class of Warrant or Right [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition								2 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		200,000	1,040,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 2.18	$ 4.06
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period								150,000
Underwriting Agreement JP Morgan Chase
Class of Warrant or Right [Line Items]
Stock Issued During Period, Shares, New Issues	26,000,000					12,400,000	12,400,000
Shares Issued, Price Per Share	$ 2.75					$ 5.55
Period exercisable underwriters option	30 days
Underwriters option granted in period shares	3,900,000
Proceeds from issuance public offering	$ 77,031,000					$ 68,573,000
Underwriting Agreement Goldman Sachs [Member]
Class of Warrant or Right [Line Items]
Stock Issued During Period, Shares, New Issues					12,745,098
Shares Issued, Price Per Share				$ 5.10	$ 5.10
Period exercisable underwriters option					30 days
Underwriters option granted in period shares					1,911,764
Proceeds from issuance public offering					$ 69,908,000
Subscription Agreement Knight [Member]
Class of Warrant or Right [Line Items]
Stock Issued During Period, Shares, New Issues				3,921,568
Shares Issued, Price Per Share				$ 5.10	$ 5.10
Stock Issued During Period, Value, New Issues				$ 20,000,000

For financial reporting purposes, income before taxes includes the following components: (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Domestic	$ (176,144,999)	$ (132,617,160)	$ (76,925,380)
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Domestic	$ (176,144,999)	$ (132,617,160)	$ (76,925,380)

A reconciliation between taxes computed at the federal statutory rate and the consolidated effective tax rate is as follows: (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	21.00%	34.00%
State tax rate, net of federal tax benefit	4.00%	5.20%	5.00%
Adjustment in valuation allowances	(22.50%)	(31.20%)	22.60%
Excess stock benefits	0.20%	5.30%
Federal income tax rate change	0.00%		(60.80%)
Permanent and other differences	(2.70%)	(0.30%)	(0.80%)
Provision (benefit) for income taxes	0.00%	0.00%	0.00%

The components of the net deferred income tax asset as of December 31, 2019, 2018, and 2017 are as follows: (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred Income Tax Assets:
Net operating losses	$ 180,520,709	$ 140,891,764	$ 99,596,321
R Credit	186,347	186,347	186,347
Total deferred income tax asset	180,707,056	141,078,111	99,782,668
Valuation allowance	(180,707,056)	(141,078,111)	(99,782,668)
Deferred income tax assets, net	$ 0	$ 0	$ 0

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
INCOME TAXES (Details Narrative) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Federal statutory tax rate	21.00%	21.00%	34.00%
Tax Cuts and Jobs Act, provisional net tax expense			$ 46,700,000
Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carry forward	$ 620,354,163
Internal Revenue Service (IRS) [Member] \| Expiration Period 20 Years [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carry forward	$ 338,775,332
NOL carry forward period	20 years
NOL carry forward expiration year	2031
Internal Revenue Service (IRS) [Member] \| Expiration Period Indefinite [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carry forward	$ 281,578,831

RELATED PARTIES (Details Narrative) - Affiliated Entity [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Amount billed	$ 6,101,000	$ 4,111,000	$ 3,646,000
Amounts due to related party	$ 35,000	$ 88,000

BUSINESS CONCENTRATIONS (Details Narrative) - USD ($)	12 Months Ended
BUSINESS CONCENTRATIONS (Details Narrative) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Number of vendors - suppliers	3	3
Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk	24.00%	43.00%	100.00%
Number of vendors - suppliers			1
Supplier 2
Concentration Risk [Line Items]
Concentration risk	27.00%	33.00%
Supplier 3
Concentration Risk [Line Items]
Concentration risk	35.00%	24.00%
Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration risk	10.00%	10.00%	10.00%
Number of customers - revenue	4	4	4
Four Customers Concentration Risk Member \| Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration risk	73.00%	76.00%	59.00%
McKesson Corporation - Major Customer \| Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues	$ 3,911,000	$ 1,610,000	$ 1,959,000
PillPack - Major Customer \| Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues	12,676,000	5,075,000
AmerisourceBergen - Major Customer \| Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues	3,927,000	3,246,000	2,667,000
Cardinal Health - Major Customer \| Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues	$ 4,551,000	$ 2,308,000	2,559,000
Pharmacy Innovations PA - Major Customer \| Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues			$ 2,715,000

Supplemental lease information (Details) - USD ($)	12 Months Ended
Supplemental lease information (Details) - USD ($)	Dec. 31, 2019	Aug. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Right-of-use asset	$ 10,109,154	$ 7,400,000
Short-term operating lease liability (included in Other current liabilities)	1,501,539
Long-term operating lease liability	$ 9,145,049
Weighted average remaining term	9 years
Weighted average discount rate	8.25%
Cash paid for amounts included in the measurement of lease liabilities for operating lease	$ 1,164,234
Right-of-use assets obtained in exchange for lease obligation	$ 11,171,471

The following table reconciles the undiscounted cash flows for all operating leases at December 31, 2019 to the operating lease liabilities recorded on the balance sheet: (Details) - USD ($)	Dec. 31, 2019	Aug. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
2020	$ 1,566,617
2021	2,198,541
2022	1,262,302
2023	1,293,859
2024	1,326,206
Thereafter	8,036,931
Total undiscounted lease payments	15,684,456
Less: imputed interest	(5,037,868)
Present value of lease payments	$ 10,646,588	$ 7,200,000

COMMITMENTS AND CONTINGENCIES (Details Narrative)		12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details Narrative)	Jul. 01, 2013	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Aug. 01, 2019 ft²	Jun. 01, 2019 ft²	Oct. 02, 2018 ft²
Recorded Unconditional Purchase Obligation [Line Items]
Non-cancelable operating lease term	63 months
Net rentable area \| ft²							56,212
Rented area lease \| ft²							7,561
Additional area of lease occupied \| ft²					48,651
Lessee, Operating Lease, Term of Contract					11 years
Number of options to extend lease		2
Lease renewal term		5 years
Lease not yet commenced (area) \| ft²						6,536
Operating lease expense		$ 1,558,794
Rental expense			$ 1,068,275	$ 1,029,205
Significant supply commitment percentage payable		50.00%
Catalent [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Minimum purchase commitment, 2020		$ 5,650,853
Minimum purchase commitment, 2021		4,000,035
Minimum purchase commitment, 2022		5,643,291
Minimum purchase commitment, 2023		6,445,301
Minimum purchase commitment, 2024		6,758,945
ANNOVERA [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Minimum purchase commitment, 2020		$ 1,049,750

Summarized quarterly financial data for fiscal years 2019 and 2018 is as follows: (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues	$ 15,902,000	$ 23,719,000	$ 6,079,000	$ 3,947,000	$ 5,089,000	$ 3,474,000	$ 3,763,000	$ 3,773,000	$ 49,646,937	$ 16,099,460	$ 16,777,713
Gross profit	13,023,000	22,275,000	4,830,000	3,184,000	4,139,000	2,775,000	3,309,000	3,139,000	43,312,352	13,361,808	14,140,770
Net loss	$ (49,435,000)	$ (31,967,000)	$ (55,237,000)	$ (39,506,000)	$ (39,391,000)	$ (35,605,000)	$ (33,219,000)	$ (24,402,000)	$ (176,144,999)	$ (132,617,160)	$ (76,925,380)
Loss per common share, basic and diluted	$ (0.19)	$ (0.13)	$ (0.23)	$ (0.16)	$ (0.17)	$ (0.16)	$ (0.15)	$ (0.11)	$ (0.72)	$ (0.59)	$ (0.37)
Loss on extinguishment of debt			$ 10,100,000						$ 10,057,632
License Agreement Theramex
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues		$ 15,500,000

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

SUBSEQUENT EVENTS (Details Narrative) - USD ($)		3 Months Ended								12 Months Ended
SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Feb. 18, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Proceeds from Financing Agreement										$ 200,000,000
Net revenue		$ 15,902,000	$ 23,719,000	$ 6,079,000	$ 3,947,000	$ 5,089,000	$ 3,474,000	$ 3,763,000	$ 3,773,000	$ 49,646,937	$ 16,099,460	$ 16,777,713
IMVEXXY, BIJUVA and ANNOVERA [Member] \| Minimum [Member]
Subsequent Event [Line Items]
Net revenue		$ 11,000,000
Financing Agreement [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from Financing Agreement	$ 50,000,000