0001193125-21-153419 | 10-Q | XBRL Viewer

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Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2021	May 06, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
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 Road
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		393,190,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current Assets:
Cash	$ 137,617	$ 80,486
Accounts receivable, net of allowance of credit losses of $1,231 and $1,118 as of March 31, 2021 and December 31, 2020, respectively	33,719	32,382
Inventory	7,346	7,993
Prepaid and other current assets	8,360	7,543
Total current assets	187,042	128,404
Fixed assets, net	1,812	1,942
License rights and other intangible assets, net	40,994	41,445
Right of use assets	9,205	9,566
Other non-current assets	253	253
Total assets	239,306	181,610
Current Liabilities:
Current maturities of long-term debt	5,000
Accounts payable	10,310	21,068
Accrued expenses and other current liabilities	45,974	38,170
Total current liabilities	61,284	59,238
Long-term debt, net	178,970	237,698
Operating lease liabilities	8,530	8,675
Total liabilities	248,784	305,611
Commitments and contingencies (Note 9)
Stockholders' equity (deficit):
Preferred stock, par value $ 0.001; 10,000 shares authorized, none issued	0	0
Common stock, par value $ 0.001; 600,000 shares authorized, 393,190 and 299,765 issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	393	300
Additional paid-in capital	908,457	754,644
Accumulated deficit	(918,328)	(878,945)
Total stockholders' deficit	(9,478)	(124,001)
Total liabilities and stockholders' equity (deficit)	$ 239,306	$ 181,610

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss	$ 1,231	$ 1,118
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
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	600,000,000	600,000,000
Common Stock, Shares, Issued	393,190,000	299,765,000
Common Stock, Shares, Outstanding	393,190,000	299,765,000

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Total revenue, net	$ 19,866	$ 12,251
Cost of goods sold	4,687	2,715
Gross profit	15,179	9,536
Operating expenses:
Selling, general and administrative	42,407	57,189
Research and development	2,050	3,269
Total operating expenses	44,457	60,458
Loss from operations	(29,278)	(50,922)
Other (expense) income:
Interest expense and other financing costs	(10,227)	(6,262)
Other income, net	122	335
Other (expense), net	(10,105)	(5,927)
Loss before income taxes	(39,383)	(56,849)
Provision for income taxes	0	0
Net loss	$ (39,383)	$ (56,849)
Loss per share, basic and diluted:
Loss per common share, basic and diluted	$ (0.11)	$ (0.21)
Weighted average common shares, basic and diluted	347,219	271,460
Product [Member]
Total revenue, net	$ 19,632	$ 12,251
License [Member]
Total revenue, net	$ 234

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Beginning balance, value at Dec. 31, 2019	$ 9,201	$ 271	$ 704,351	$ (695,421)
Beginning balance, shares at Dec. 31, 2019		271,177,000
Shares issued for exercise of options and warrants	72		72
Shares issued for exercise of options and warrants, net (in shares)		351,000
Share-based compensation	2,366		2,366
Shares issued for vested restricted stock units (in shares)		150,000
Net loss	(56,849)			(56,849)
Ending balance, value at Mar. 31, 2020	(45,210)	$ 271	706,789	(752,270)
Ending balance, shares at Mar. 31, 2020		271,678,000
Beginning balance, value at Dec. 31, 2020	$ (124,001)	$ 300	754,644	(878,945)
Beginning balance, shares at Dec. 31, 2020	299,765,000	299,765,000
Shares issued for sale of common stock, net of cost, value	$ 150,899	$ 93	150,806
Shares issued for sale of common stock, net of cost, shares		92,870,000
Shares issued for exercise of options and warrants	50		50
Shares issued for exercise of options and warrants, net (in shares)		503,000
Share-based compensation	2,957		2,957
Shares issued for vested restricted stock units (in shares)		52,000
Net loss	(39,383)			(39,383)
Ending balance, value at Mar. 31, 2021	$ (9,478)	$ 393	$ 908,457	$ (918,328)
Ending balance, shares at Mar. 31, 2021	393,190,000	393,190,000

- Definition

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

+ References

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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss	$ (39,383)	$ (56,849)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,019	1,008
Charges (credits) to provision for doubtful accounts	230	(123)
Inventory charge	502	136
Debt financing fees	1,272	320
Non-cash operating lease expense	216	352
Share-based compensation	2,957	2,366
Changes in operating assets and liabilities:
Accounts receivable	(1,567)	3,855
Inventory	145	(2,883)
Prepaid and other current assets	(817)	4,436
Accounts payable	(10,758)	9,533
Accrued expenses and other current liabilities	7,804	(1,262)
Total adjustments	1,003	17,738
Net cash used in operating activities	(38,380)	(39,111)
Cash flows from investing activities:
Payment of patent related costs	(375)	(422)
Purchase of fixed assets	(63)	(21)
Net cash used in investing activities	(438)	(443)
Cash flows from financing activities:
Proceeds from sale of common stock, net of costs	150,899
Proceeds from exercise of options and warrants	50	72
Repayments of debt	(50,000)
Borrowings of debt		50,000
Payment of debt financing fees	(5,000)	(1,250)
Net cash provided by financing activities	95,949	48,822
Net increase in cash	57,131	9,268
Cash, beginning of period	80,486	160,830
Cash, end of period	137,617	170,098
Supplemental disclosure of cash flow information:
Interest paid	$ 8,955	$ 5,893

Basis of presentation and summary of significant accounting policies

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Basis of presentation and summary of significant accounting policies

1.	Basis of presentation and summary of significant accounting policies

General

TherapeuticsMD, Inc., a Nevada corporation (the “Company”), and its consolidated subsidiaries are referred to collectively in this Quarterly Report on Form

10-Q

(“10-Q

Report”) as “TherapeuticsMD,” “we,” “our” and “us.” This

10-Q

Report includes our trademarks, trade names and service marks, such as TherapeuticsMD

, vitaMedMD

, BocaGreenMD

, IMVEXXY

, BIJUVA

and ANNOVERA

, which are protected under applicable intellectual property laws and are the property of, or licensed to, our company. Solely for convenience, trademarks, trade names and service marks referred to in this

10-Q

Report may appear without the

symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable licensor to these trademarks, trade names and service marks. We do not intend our use or display of other parties’ trademarks, trade names or service marks to imply, and such use or display should not be construed to imply a relationship with, or endorsement or sponsorship of us by, these other parties.

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 have a portfolio of 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.

Principles of consolidation

We prepared the consolidated financial statements included in this

10-Q

Report following the requirements of the United States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) can be condensed or omitted.

Revenues, expenses, assets, liabilities, and equities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. In our opinion, all adjustments necessary for a fair statement of the financial statements, which are of a normal and recurring nature, have been made for the interim periods reported. The information included in this

10-Q

Report should be read in conjunction with the consolidated financial statements and accompanying notes included in our 2020 Annual Report on Form

10-K

(“2020

10-K

Report”). Certain amounts in the consolidated financial statements and accompanying notes may not add due to rounding. All percentages have been calculated using unrounded amounts.

Risks and uncertainties related to

COVID-19

We continue to be subject to risks and uncertainties in connection with the

COVID-19

pandemic. The extent of the future impact of the

COVID-19

pandemic on our business continues to be highly uncertain and difficult to predict. We continue to provide an uninterrupted supply of our portfolio of products for patients. We believe we have sufficient inventory of finished products to meet anticipated demand in the near future. Additionally, we believe we have sufficient active pharmaceutical ingredients on hand for the continued manufacture of our products.

Since the early phase of the

COVID-19

pandemic, we have been using substantial virtual options to ensure business continuity. One of our subsidiaries, vitaCare

™

Prescription Services, Inc. (“vitaCare Prescription Services”), a Florida corporation, assists patients in obtaining easy and convenient access to their prescriptions for products at a pharmacy of their choice, including via home delivery pharmacy options. We have also partnered with independent community pharmacies and multiple third-party online pharmacies and telemedicine providers that focus on contraception or menopause which provide patients real-time access to both diagnosis and treatment. We continue to support prescribers’ needs with samples and product materials through our sales force. If access is restricted, we have mailing options in place for these materials. We also have business continuity plans and infrastructure in place that allows for live virtual

e-detailing

of our products.

As part of our response to the

COVID-19

pandemic, we implemented measures to reduce marketing expenses for 2020. We also implemented cost saving measures in 2020, which included negotiating lower fees or suspending services from third party vendors; implementing a company-wide hiring restriction; delaying or cancelling

non-critical

information technology projects; and eliminating

non-essential

travel, entertainment, meeting, and event expenses.

The full impact of the

COVID-19

pandemic continues to evolve. However, we remain committed to the execution of our corporate goals, despite the ongoing

COVID-19

pandemic, as demonstrated in part by the increase in product revenue throughout 2020. As of the date of issuance of these consolidated financial statements, the future extent to which the

COVID-19

pandemic may continue to materially impact our financial condition, liquidity, or results of operations remains uncertain. We are continuing to assess the effect of the

COVID-19

pandemic on our operations by monitoring the spread of

COVID-19

and the various actions implemented to combat the pandemic throughout the world. Even after the

COVID-19

pandemic has subsided, we may continue to experience adverse impacts to our business as a result of any economic recession or depression that has occurred or may occur in the future.

While we currently believe that our

COVID-19

contingency plan has the ability to mitigate the effect of the

COVID-19

pandemic on our business, the severity of the impact of the

COVID-19

pandemic on our business will depend on a number of factors, including, but not limited to, the duration and severity of the pandemic, the duration of “social distancing” orders, the ability of our sales force to access healthcare providers to promote our products, increases in unemployment, which could reduce access to commercial health insurance for our patients, thus limiting payer coverage for our products, and the impact of the pandemic on our global supply chain, all of which are uncertain. Our future results of operations and liquidity could be materially adversely affected by delays in payments of outstanding receivable amounts beyond normal payment terms, supply chain disruptions, uncertain demand, and the impact of any initiatives or programs that we may undertake to address financial and operations challenges that we may face.

Significant accounting policies

The significant accounting policies we use for quarterly financial reporting are disclosed in Note 2, Summary of Significant Accounting Policies of the accompanying notes to the consolidated financial statements included in our 2020

10-K

Report, and in the section below.

Accounting standards issued but not yet adopted

There have been no recently issued accounting standards not yet adopted by us which are expected, upon adoption, to have a material impact on our consolidated financial statements or processes.

Reclassification

Certain amounts reported in prior periods in the financial statements have been reclassified to conform to the current period’s presentation.

Accounts receivable

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

Accounts receivable

2.	Accounts receivable

We extend credit on an unsecured basis to most of our customers. Our exposure to credit losses may increase if our customers are adversely affected by changes in healthcare laws, coverage, and reimbursement, economic pressures or uncertainty associated with local or global economic recessions, disruption associated with the

current COVID-19

pandemic, or other customer-specific factors. While we actively manage our credit exposure and work to respond to both changes in our customers’ financial conditions or macroeconomic events, there can be no guarantee we will be able to mitigate all of these risks successfully. Although we have historically not experienced significant credit losses, it is possible that there could be a material adverse impact from potential adjustments of the carrying amount of trade receivables in the future.

e review accounts receivable for uncollectible accounts and provide an allowance for doubtful accounts, which is based upon a review of outstanding receivables, historical collection information, reasonable supportable forecasts and existing economic conditions and we record an allowance that presents the net amount expected to be collected. We evaluate trade accounts receivable 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.

The following sets forth activities in our allowance for credit losses (in thousands):


	Total
Balance as of January 1, 2021	$	1,118
Charges to provision for credit losses		230
Write-off of uncollectible receivables		(117	)

Balance as of March 31, 2021	$	1,231

Inventory

3 Months Ended

Mar. 31, 2021

Inventory Disclosure [Abstract]

Inventory

e have optimized the level of our inventory on hand, and we believe we have sufficient finished products to meet anticipated demand in the near future and sufficient raw materials for the continued manufacture of our finished products. We rely on third parties to manufacture our finished products, and we have entered into long-term supply agreements for the manufacture of ANNOVERA, IMVEXXY, and BIJUVA, however, we do not have a long-term supply agreement for the manufacture of our prescription vitamins. Additionally, we do not have long-term contracts for the supply of the active pharmaceutical ingredients (“API”) used in ANNOVERA and BIJUVA. If any of our third party contract manufacturers or any suppliers of the API experiences any significant difficulties in its respective manufacturing processes, do not comply with the terms of an agreement between us, or do not devote sufficient time, energy, and care to providing our manufacturing needs, we could experience significant interruptions in the supply of our products, which may have a material adverse impact on our revenue, results of operations and financial position.

Our inventory consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Raw materials	$	4,487	$	4,423
Work in process		222		220
Finished products		2,637		3,350

Inventory	$	7,346	$	7,993

Prepaid and other current assets

3 Months Ended

Mar. 31, 2021

Prepaid Expense and Other Assets, Current [Abstract]

Prepaid and other current assets

4.	Prepaid and other current assets

Our prepaid and other current assets consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Insurance	$	1,522	$	2,568
Paragraph IV legal proceeding costs		1,926		—
Other		4,912		4,975

Prepaid and other current assets	$	8,360	$	7,543

Fixed assets, net

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

Fixed assets, net

5.	Fixed assets, net

Our fixed assets, net consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Furniture and fixtures	$	1,407	$	1,407
Computer and office equipment		1,810		1,784
Computer software		450		412
Leasehold improvements		80		80

Fixed assets		3,747		3,683
Less: accumulated depreciation and amortization		1,935		1,741

Fixed assets, net	$	1,812	$	1,942

For the three months ended March 31, 2021 and 2020, we recorded depreciation expense of

193

thousand and $

199

thousand, respectively.

License rights and other intangible assets, net

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

License rights and other intangible assets, net

6.	License rights and other intangible assets, net

The following provides information about our license rights and other intangible assets, net (in thousands):


	March 31, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Intangible assets subject to amortization
License rights agreement	$	40,000	$	4,559	$	35,441	$	40,000	$	3,803	$	36,197
Hormone therapy drug patents		4,181		818		3,363		4,045		748		3,297
Hormone therapy drug patents applied and pending approval		1,857		—		1,857		1,628		—		1,628

		46,038		5,377		40,661		45,673		4,551		41,122
Intangible assets not subject to amortization Trademarks/trade name rights		333		—		333		323		—		323

	$	46,371	$	5,377	$	40,994	$	45,996	$	4,551	$	41,445

During the three months ended March 31, 2021 and 2020, we recorded

756

thousand and $

746

thousand, respectively, in amortization expense related to an exclusive license agreement (the “Population Council License Agreement”) with Population Council to commercially manufacture and sell ANNOVERA in the U.S., which was recorded as a component of cost of sales. As of March 31, 2021 and December 31, 2020, respectively, we had a total of

patents, of which

were domestic, and a total of

patents, of which

were domestic. We recorded

thousand and $

thousand of amortization expense related to patents for the three months ended March 31, 2021 and 2020, respectively.

We use a combination of qualitative and quantitative factors to assess intangible assets for impairment. As a result of performing these assessments, we determined that no impairment existed as of March 31, 2021 and, therefore, recorded no write-downs to any of our intangible assets.

Accrued expenses and other current liabilities

3 Months Ended

Mar. 31, 2021

Payables and Accruals [Abstract]

Accrued expenses and other current liabilities

7.	Accrued expenses and other current liabilities

Other accrued expenses and other current liabilities consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Payroll and related costs	$	8,311	$	11,179
Rebates		12,691		11,011
Sales returns and coupons		5,676		7,057
Wholesale distributor fees		4,243		2,632
Professional fees		6,198		925
Other accrued expenses and current liabilities		8,855		5,366

Accrued expenses and other current liabilities	$	45,974	$	38,170

Debt

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Debt

e are party to a Financing Agreement, as amended (the “Financing Agreement”), with Sixth Street Specialty Lending, Inc., as administrative agent (the “Administrative Agent”), various lenders from time to time party thereto, and certain of our subsidiaries party thereto from time to time as guarantors. Interest on amounts borrowed under the Financing Agreement is due and payable quarterly in arrears, and the Financing Agreement matures on March 31, 2024.

In January 2021, we entered into Amendment No. 7 to the Financing Agreement (“Amendment No. 7”) pursuant to which, among other amendments, the minimum quarterly product net revenue requirements attributable to commercial sales of IMVEXXY, BIJUVA, and ANNOVERA for the fiscal quarters ending March 31, 2021 and June 30, 2021 were reduced, and we paid an amendment financing fee of $5.0 million, which was included as a component of deferred financing fees in long-term debt in the accompany consolidated balance sheets. Additionally, in connection with entering into Amendment No. 7, the warrants issued to the Administrative Agent and the lenders under the Financing Agreement on August 5, 2020 were further amended to provide for an additional adjustment to the exercise price if we conducted certain dilutive issuances prior to March 31, 2021. No such adjustments were made to the exercise price of these warrants prior to the expiration of such period.

n March 2021, we entered into Amendment No. 8 to the Financing Agreement (“Amendment No. 8”) pursuant to which, among other amendments, the minimum quarterly product net revenue requirements attributable to commercial sales of IMVEXXY, BIJUVA, and ANNOVERA were revised, the amortization and prepayment terms of the borrowings under the Financing Agreement were revised, and the Administrative Agent consented to a framework for our potential disposition of our vitaCare Prescription Services business. With respect to amortization and prepayment terms of the borrowings under the Financing Agreement, in connection with Amendment

No. 8, we (i) repaid

50.0

million in principal under the Financing Agreement during the

three

months ended March

2021

, plus a

5.0

% prepayment fee, and (ii) agreed to make additional principal repayments as follows: (x) $

5.0

million on each of March

2022

, June

2022

and September

2022

; (y) $

10.0

million on each of December

2022

and March

2023

; and (z) $

41.25

million on each of June

2023

, September

2023

, December

2023

and March

2024

, plus the prepayment fees described in the following sentence. In connection with Amendment

, the prepayment fees on principal amounts being prepaid under the Financing Agreement were revised as follows: (i)

30.0

% of the principal amount being repaid through March

2022

(excluding the scheduled $

5.0

million principal repayment on such date, which is subject to a

5.0

% prepayment fee); (ii)

5.0

% of the principal amount being repaid from April

2022

through March

2023

; (iii)

3.0

% of the principal amount being repaid from April

2023

through March

2024

; and (iv) thereafter,

none

, in each case subject to certain limited exceptions, including with respect to a repayment in full of the obligations under the Financing Agreement.

debt consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Financing Agreement	$	200,000	$	250,000
Less: deferred financing fees		16,030		12,302

Debt, net		183,970		237,698
Current maturities of long-term debt		5,000		—

Long-term debt	$	178,970	$	237,698

Interest and financing costs

Interest expense and other financing costs consisted of the following (in thousands):


	Three Months Ended March 31,
	2021		2020
Interest expense	$	6,455	$	5,942
Interest prepayment fees		2,500		—
Financing fees amortization		1,272		320

Interest expense and other financing costs	$	10,227	$	6,262

mendment No. 7 and No. 8 were both accounted for as debt modification in accordance with U.S. GAAP. Accordingly, the unamortized deferred financing fees at each amendment date and the financing fee of $5.0 million for Amendment No. 7 are being deferred. These deferred financing fees are being amortized over the remining term of our Financing Agreement.

The future estimated amortization of our deferred financing fees is as follows (in thousands):


	Year Ended December 31,
2021 (9 months)	$	4,377
2022		5,875
2023		5,078
2024		700

	$	16,030

Debt covenants compliance

The Financing Agreement requires us to have a minimum unrestricted cash balance of

60.0

million.

As of the filing date of this

10-Q

Report, our cash balance was above the required minimum balance. Based on our current projections, along with financing that may be available to us under our at-the-market equity offering program relating to shares of our common stock, we

anticipate that we will remain in compliance with the minimum cash balance covenant for the next twelve months from the issuance of the consolidated financial statements included in this

10-Q

Report. In addition, we have reviewed numerous potential scenarios in connection with the impact of

COVID-19

pandemic on our business and we believe that our existing cash reserves are sufficient to meet our cash needs arising in the ordinary course of business for the next twelve months from the issuance of the consolidated financial statements included in this

10-Q

Report. However, if we are unsuccessful with the commercialization of IMVEXXY, BIJUVA, or ANNOVERA, if such commercialization is delayed, or if the continued impact of the

COVID-19

pandemic on our business is worse than we anticipate, among other circumstances, we may consume funds significantly faster than we currently anticipate and our existing cash reserves would be insufficient to maintain compliance with the Financing Agreement covenants or satisfy our liquidity requirements until we are able to successfully commercialize IMVEXXY, BIJUVA, and ANNOVERA.

he Financing Agreement also requires us to maintain certain minimum quarterly product net revenue requirements and several other restrictive covenants. These and other terms in the Financing Agreement have to be monitored closely for compliance and could restrict our ability to grow our business or enter into transactions that we believe would be beneficial to our business. If we are unable to maintain the minimum unrestricted cash balance, achieve any of the total minimum net revenue requirements or otherwise comply with any other covenant of the Financing Agreement, all or a portion of our obligations under the Financing Agreement may be declared immediately due and payable, which would have an adverse effect on our business, results of operations and financial condition.

As of March 31, 2021, we were in compliance, in all material respects, with our covenants under the Financing Agreement.

Commitments and contingencies

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

9.	Commitments and contingencies

Minimum purchase commitments

We have manufacturing and supply agreements whereby we are required to purchase from Catalent, Inc. (“Catalent”) a minimum number of units of BIJUVA and IMVEXXY softgels during each respective annual contract year. The annual contract period for BIJUVA and IMVEXXY ends each April and July, respectively. If the minimum order quantities of BIJUVA or IMVEXXY are not met, we are required to pay a minimum commitment fee equal to 50% or 60

%, respectively, of the difference between the total amount we would have paid if the minimum requirement had been fulfilled and the total amount of purchases of BIJUVA or IMVEXXY during each product’s respective contract year.

Additionally, with another third-party manufacturer, 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 annual contract period for ANNOVERA ends each August. If the minimum order quantities of ANNOVERA are not met, we are required to pay a minimum commitment fee equal to the difference between the total amount we would have paid if the minimum requirement had been fulfilled and the total amount of purchases of ANNOVERA during the contract year.

For each of the three annual contract years ending in 2021, we expect to meet our minimum purchase number of units in all material respects, accordingly, we believe that minimum commitment fees that we may pay, if any, will not have a material impact to our financial position and operating results. For annual contract years ending in 2022 and thereafter, we will continue to evaluate whether we will be able to meet each annual contract year’s respective minimum purchase commitment and will record a liability for estimated minimum commitment fees if we believe that we will not be able to reasonably meet the minimum purchase commitment.

Legal Proceedings

In February 2020, we received a Paragraph IV certification notice letter (the “IMVEXXY Notice Letter”) regarding an Abbreviated New Drug Application (“ANDA”) submitted to FDA by Teva Pharmaceuticals USA, Inc. (“Teva”). The ANDA seeks approval from FDA to commercially manufacture, use, or sell a generic version of the 4 mcg and 10 mcg doses of IMVEXXY. In the IMVEXXY Notice Letter, Teva alleges that TherapeuticsMD patents listed in FDA’s Orange Book that claim compositions and methods of IMVEXXY (the “IMVEXXY Patents”), are invalid, unenforceable, and/or will not be infringed by Teva’s commercial manufacture, use, or sale of its proposed generic drug product. The IMVEXXY Patents identified in the IMVEXXY Notice Letter expire in 2032 or 2033. In April 2020, we filed a complaint for patent infringement against Teva in the United States District Court for the District of New Jersey arising from Teva’s ANDA filing with the FDA. We are seeking, among other relief, an order that the effective date of any FDA approval of Teva’s ANDA would be a date no earlier than the expiration of the IMVEXXY Patents and equitable relief enjoining Teva from infringing the IMVEXXY Patents. Teva has filed its answer and counterclaim to the complaint, alleging that the IMVEXXY Patents are invalid and not infringed. A trial date has not been set.

In March 2020, we received a Paragraph IV certification notice letter (the “BIJUVA Notice Letter”) regarding an ANDA submitted to FDA by Amneal Pharmaceuticals (“Amneal”). The ANDA seeks approval from FDA to commercially manufacture, use, or sell a generic version of BIJUVA. In the BIJUVA Notice Letter, Amneal alleges that TherapeuticsMD patents listed in FDA’s Orange Book that claim compositions and methods of BIJUVA (the “BIJUVA Patents”) are invalid, unenforceable, and/or will not be infringed by Amneal’s

commercial manufacture, use, or sale of its proposed generic drug product. The BIJUVA Patents identified in the BIJUVA Notice Letter expire in 2032. In April 2020, we filed a complaint for patent infringement against Amneal in the United States District Court for the District of New Jersey arising from Amneal’s ANDA filing with FDA. We are seeking, among other relief, an order that the effective date of any FDA approval of Amneal’s ANDA would be a date no earlier than the expiration of the BIJUVA Patents and equitable relief enjoining Amneal from infringing the BIJUVA Patents. Amneal has filed its answer and counterclaim to the complaint, alleging that the BIJUVA Patents are invalid and not infringed. A trial date has not been set. In February 2021, the District Court entered an order temporarily staying all proceedings in the BIJUVA litigation. The District Court stay also extends the

30-month

stay for the period in which the BIJUVA litigation has been stayed.

As of March 31, 2021, in the aggregate, we have incurred and recorded paragraph IV legal proceeding costs amounting to $1.9 million in prepaid expenses and other current assets in the accompanying consolidated balance sheets since we believe that we will successfully prevail in these two legal proceedings. Upon the successful conclusion of each of the above legal proceeding, the related capitalized legal costs for that legal proceeding will be reclassified to patents, in license rights, and other intangible assets, net in the accompanying consolidated balance sheets and such costs will be amortized over the remaining useful of the respective patent. If we are unsuccessful in either one of the above legal proceedings, then the related capitalized legal costs and respective unamortized patent costs for that legal proceeding will be immediately expensed in the period in which we become aware of unsuccessful legal proceeding.

Stockholders' equity (deficit)

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders' equity

10.	Stockholders’ equity (deficit)

Common stock

In November 2020, we entered into an at-the-market offering program (the “2020 ATM Program”) relating to shares of our common stock. The 2020 ATM Program permitted us to offer and sell shares of our common stock having an aggregate offering price of up to

$50.0

million from time to time through or to the sales agent under the 2020 ATM Program. Sales of our common stock were permitted to be made from time to time in at-the-market offerings as defined in Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), including by means of ordinary broker’s transactions on the Nasdaq Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices, or as otherwise agreed to with the sales agent. The sales agent was entitled to compensation at a fixed commission rate of

3.0%

of the aggregate gross sales price per share sold. As of February 8, 2021, sales of shares of our common stock under the 2020 ATM Program were completed when we sold an aggregate total of

28.6

million shares of our common stock at an average sale price of

$1.75

per share, and we received net proceeds of

$47.3

million, after deducting the underwriting discounts and commissions and estimated offering expenses.

In February 2021, we closed on an underwritten public offering of our common stock, pursuant to which we issued an aggregate total of

59.5

million shares of our common stock at an offering price of

$1.85 per share, and we received net proceeds of $96.6

million, after deducting the underwriting discounts and commissions and estimated offering expenses.

In March 2021, we entered into an at-the-market offering program (the “2021 ATM Program”) relating to shares of our common stock. The 2021 ATM Program permits us to offer and sell shares of our common stock having an aggregate offering price of up to

$100.0

million from time to time through or to the under the 2021 ATM Program sales agent. Sales of our common stock may be made from time to time in at-the-market offerings as defined in Rule 415 of the Securities Act, including by means of ordinary broker’s transactions on the Nasdaq Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices, or as otherwise agreed to with the sales agent. The investment bank will be entitled to compensation at a fixed commission rate of

3.0%

of the aggregate gross sales price per share sold. The sales agent is not required to sell any specific number or dollar amounts of securities but will act as sales agent and use commercially reasonable efforts to sell on our behalf all of the shares of common stock requested to be sold by us, consistent with its normal trading and sales practices, on mutually agreed terms between us and the sales agent. Through March 31, 2021, we have sold

4.8

million shares of our common stock at an average sale price of

$1.59

per share and we received estimated net proceeds of

$7.0

million, after deducting the underwriting discounts and commissions and estimated offering expenses. Subsequently, and through the date of this 10-Q Report filing, we have not sold any additional shares of our common stock under the 2021 ATM Program. Future sales, if any, under the 2021 ATM Program will depend on a variety of factors, including among others, market conditions, the trading price of our common stock, determinations by us of the appropriate sources of funding, and potential uses of funding available to us.

Restricted stock units

During the three months ended March 31, 2021, we granted 327 thousand restricted stock units (“RSUs”) at a weighted average grant date fair value of $1.58 per unit. The weighted average vesting life of these RSUs was 2.1 years. Additionally, we settled 52 thousand vested RSUs during the three months ended March 31, 2021 and the weighted average grant date fair value of these RSUs was $1.86 per unit. Furthermore, during the three months ended March 31, 2021, there were 732

thousand RSUs that vested, but were not yet settled as of March 31, 2021, and for which the weighted average grant date fair value was $1.07 per unit. We anticipate that settlement of these RSUs will occur in May 2021.

Warrants

In March 2021, a warrant holder exercised the holder’s right to purchase an aggregate of

205 thousand shares of our common stock for $50 thousand. Also, in March 2021, warrant holders exercised their rights to purchase an aggregate of 358 thousand shares of common stock pursuant to the warrant’s cashless exercise provision, wherein 298

thousand shares of our common stock were issued. In total, during the three months ended March 31, 2021, warrants to purchase an aggregate of

563 thousand shares of common stock were exercised and the weighted average exercise price of these warrants was $0.24 per share.

Revenue

3 Months Ended

Mar. 31, 2021

Disaggregation of Revenue [Abstract]

Revenue

11.

Revenue

The following table provides information about disaggregated revenue by product mix and service (in thousands):


	Three Months Ended March 31,
	2021		2020
ANNOVERA	$	8,750	$	2,273
IMVEXXY		7,012		6,392
BIJUVA		2,445		1,112
Prescription vitamin		1,425		2,474

Product revenue, net		19,632		12,251
License revenue		234		—

Total revenue, net	$	19,866	$	12,251

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Operating expenses

3 Months Ended

Mar. 31, 2021

Operating Expenses [Abstract]

Operating expenses

12.	Operating expenses

The following provides information about operating expenses (in thousands):


		Three Months Ended March 31,
		2021			2020
Compensation and employee benefits	$		19,891	$		18,018
Selling and marketing			13,865			29,742
General and administrative			8,651			9,429
Research and development			2,050			3,269

Total operating expenses	$	44,457		$	60,458

Our compensation and employee benefits exclude those employees who perform research & development (“R&D”) related activities. Our R&D costs consist mainly of costs incurred under agreements with contract research organizations (“CROs”) and other third parties that conduct our clinical related studies, compensation and benefit costs related employees engaged in R&D activities, costs to developing our chemistry, manufacturing, and controls capabilities, costs related to manufacturing validation, and costs associated with other research activities and regulatory approvals. With regards to costs of clinical trials, they may vary significantly over the life of a project owing to a variety of factors and we base our expenses related to clinical trials on estimates based on our experience and estimates from CROs and other third parties. R&D expenditures for the drug products will continue after the clinical trial completes for

on-going

stability and laboratory testing, regulatory submission, and response work.

Income taxes

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Income taxes

13.	Income taxes

We do not expect to pay any significant federal or state income taxes as a result of (i) the losses recorded during the three months ended March 31, 2021 and 2020, (ii) additional losses expected for the remainder of 2021 or recorded in 2020, or (iii) net operating losses carry forwards from prior years.

We recorded a full valuation allowance of the net operating losses for the three months ended March 31, 2021 and 2020. Accordingly, there were

no provision

for income taxes for the three months ended March 31, 2021 and 2020. Additionally, as of March 31, 2021 and December 31, 2020, we maintain a full valuation allowance for all deferred tax assets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Loss per common share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Loss per common share

14.	Loss per common share

The following table sets forth the computation of basic and diluted loss per common share for the periods presented (in thousands, except per share amounts):


	Three Months Ended March 31,
	2021			2020
Numerator:
Net loss	$	(39,383	)	$	(56,849	)

Denominator:
Weighted average common shares for
basic loss per common share		347,219			271,460
Effect of dilutive securities		—			—

Weighted average common shares for
diluted loss per common share		347,219			271,460

Loss per common share, basic and diluted	$	(0.11	)	$	(0.21	)

ince we reported a net loss for the three months ended March 31, 2021 and 2020, our potentially dilutive securities are deemed to be anti-dilutive, accordingly, there was no effect of dilutive securities. Therefore, our basic and diluted loss per common share and our basic and diluted weighted average common share are the same for the three months ended March 31, 2021 and 2020.

The following table sets forth the securities which are not included in the calculation of diluted earnings per common share (in thousands):


	Three Months Ended March 31,
	2021		2020
Stock options		23,710		25,155
RSUs		7,326		4,474
PSUs		2,393		2,384
Warrants		5,852		1,833

	39,281		33,846

Related parties

3 Months Ended

Mar. 31, 2021

Related Parties

15.	Related parties

A member of our Board

of Directors, J. Martin Carrol, is also a director of Catalent. From time to time, we have entered into agreements with Catalent and its affiliates 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. During the three months ended March

2021

and

2020

, we were billed by Catalent of $

772

thousand and $

1.3

million, respectively, for manufacturing activities. As of March

2021

and December

2020

, we have

estimated

amounts payable to Catalent totaling $

639

thousand and $

276

thousand, respectively. In addition, we have minimum purchase requirements in place with Catalent as disclosed in Note

, Commitments and contingencies.

A member of our Board of Directors, Karen L. Ling, is an executive vice president and chief human resources officer of American International Group, Inc. (“AIG”). From time to time, we have entered into agreements with AIG in the normal course of business. Agreements with AIG have been reviewed by independent directors of our Company, or a committee consisting of independent directors of our Company. During the three months ended March 31, 2021 and 2020, we were billed by AIG of $13 thousand and $71 thousand, respectively, for various insurance premiums. As of March 31, 2021 and December 31, 2020, we have no amounts payable to AIG.

Business concentrations

3 Months Ended

Mar. 31, 2021

Risks and Uncertainties [Abstract]

Business concentrations

16.	Business concentrations

We sell our products to wholesale distributors, specialty pharmacies, specialty distributors, and chain drug stores that generally sell products to retail pharmacies, hospitals, and other institutional customers.

Customers with product revenue equal to or greater than 10% of

our

total revenue for the periods indicated were as follows:


	Three Months Ended March 31,
	2021	2020
Customer A	13%	26%
Customer B	18%	18%
Customer C	22%	15%
Customer D	*	10%

*	Less than 10% of total product revenue

Customers that accounted for 10% or

greater of our accounts receivable as of the periods indicated were as follows:

	March 31, 2021	December 31, 2020
Customer A	14%	17%
Customer B	20%	19%
Customer C	33%	25%
Customer D	*	11%

*	Balance was less than 10% of total accounts receivable

We rely on third parties for the manufacture and supply of our products, as well as third-party logistics providers. In instances where these parties fail to perform their obligations, we may be unable to find alternatives suppliers or satisfactorily deliver our products to our customers on time, if at all.

Vendors with product purchases equal to or greater than 10% of

our

total purchases for the periods indicated were as follows:


	Three Months Ended March 31,
	2021	2020
Catalent	29%	24%
Vendor A	33%	28%
Vendor B	32%	32%
Vendor C	*	13%

*	Less than 10% of total product purchases

Vendors that accounted for 10%

or greater of our accounts payable as of the periods indicated were as follows:


	March 31, 2021	December 31, 2020

Vendor D	19%	*
Vendor E	*	17%
Vendor F	*	16%
Vendor G	*	10%

*	Balance was less than 10% of total accounts payable

Basis of presentation and summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
General	General TherapeuticsMD, Inc., a Nevada corporation (the “Company”), and its consolidated subsidiaries are referred to collectively in this Quarterly Report on Form 10-Q (“10-Q Report”) as “TherapeuticsMD,” “we,” “our” and “us.” This 10-Q Report includes our trademarks, trade names and service marks, such as TherapeuticsMD ® , vitaMedMD ® , BocaGreenMD ® , IMVEXXY ® , BIJUVA ® and ANNOVERA ® , which are protected under applicable intellectual property laws and are the property of, or licensed to, our company. Solely for convenience, trademarks, trade names and service marks referred to in this 10-Q Report may appear without the ® , TM or SM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable licensor to these trademarks, trade names and service marks. We do not intend our use or display of other parties’ trademarks, trade names or service marks to imply, and such use or display should not be construed to imply a relationship with, or endorsement or sponsorship of us by, these other parties. 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 have a portfolio of 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.
Principles of consolidation	Principles of consolidation We prepared the consolidated financial statements included in this 10-Q Report following the requirements of the United States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) can be condensed or omitted. Revenues, expenses, assets, liabilities, and equities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. In our opinion, all adjustments necessary for a fair statement of the financial statements, which are of a normal and recurring nature, have been made for the interim periods reported. The information included in this 10-Q Report should be read in conjunction with the consolidated financial statements and accompanying notes included in our 2020 Annual Report on Form 10-K (“2020 10-K Report”). Certain amounts in the consolidated financial statements and accompanying notes may not add due to rounding. All percentages have been calculated using unrounded amounts.
Risks and uncertainties related to COVID-19	Risks and uncertainties related to COVID-19 We continue to be subject to risks and uncertainties in connection with the COVID-19 pandemic. The extent of the future impact of the COVID-19 pandemic on our business continues to be highly uncertain and difficult to predict. We continue to provide an uninterrupted supply of our portfolio of products for patients. We believe we have sufficient inventory of finished products to meet anticipated demand in the near future. Additionally, we believe we have sufficient active pharmaceutical ingredients on hand for the continued manufacture of our products. Since the early phase of the COVID-19 pandemic, we have been using substantial virtual options to ensure business continuity. One of our subsidiaries, vitaCare ™ Prescription Services, Inc. (“vitaCare Prescription Services”), a Florida corporation, assists patients in obtaining easy and convenient access to their prescriptions for products at a pharmacy of their choice, including via home delivery pharmacy options. We have also partnered with independent community pharmacies and multiple third-party online pharmacies and telemedicine providers that focus on contraception or menopause which provide patients real-time access to both diagnosis and treatment. We continue to support prescribers’ needs with samples and product materials through our sales force. If access is restricted, we have mailing options in place for these materials. We also have business continuity plans and infrastructure in place that allows for live virtual e-detailing of our products. As part of our response to the COVID-19 pandemic, we implemented measures to reduce marketing expenses for 2020. We also implemented cost saving measures in 2020, which included negotiating lower fees or suspending services from third party vendors; implementing a company-wide hiring restriction; delaying or cancelling non-critical information technology projects; and eliminating non-essential travel, entertainment, meeting, and event expenses. The full impact of the COVID-19 pandemic continues to evolve. However, we remain committed to the execution of our corporate goals, despite the ongoing COVID-19 pandemic, as demonstrated in part by the increase in product revenue throughout 2020. As of the date of issuance of these consolidated financial statements, the future extent to which the COVID-19 pandemic may continue to materially impact our financial condition, liquidity, or results of operations remains uncertain. We are continuing to assess the effect of the COVID-19 pandemic on our operations by monitoring the spread of COVID-19 and the various actions implemented to combat the pandemic throughout the world. Even after the COVID-19 pandemic has subsided, we may continue to experience adverse impacts to our business as a result of any economic recession or depression that has occurred or may occur in the future. While we currently believe that our COVID-19 contingency plan has the ability to mitigate the effect of the COVID-19 pandemic on our business, the severity of the impact of the COVID-19 pandemic on our business will depend on a number of factors, including, but not limited to, the duration and severity of the pandemic, the duration of “social distancing” orders, the ability of our sales force to access healthcare providers to promote our products, increases in unemployment, which could reduce access to commercial health insurance for our patients, thus limiting payer coverage for our products, and the impact of the pandemic on our global supply chain, all of which are uncertain. Our future results of operations and liquidity could be materially adversely affected by delays in payments of outstanding receivable amounts beyond normal payment terms, supply chain disruptions, uncertain demand, and the impact of any initiatives or programs that we may undertake to address financial and operations challenges that we may face.
Significant accounting policies	Significant accounting policies The significant accounting policies we use for quarterly financial reporting are disclosed in Note 2, Summary of Significant Accounting Policies of the accompanying notes to the consolidated financial statements included in our 2020 10-K Report, and in the section below.
Accounting standards issued but not yet adopted	Accounting standards issued but not yet adopted There have been no recently issued accounting standards not yet adopted by us which are expected, upon adoption, to have a material impact on our consolidated financial statements or processes.
Reclassification	Reclassification Certain amounts reported in prior periods in the financial statements have been reclassified to conform to the current period’s presentation.

Accounts receivable (Tables)

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

Summary of accounts receivable allowance for credit losses

The following sets forth activities in our allowance for credit losses (in thousands):


	Total
Balance as of January 1, 2021	$	1,118
Charges to provision for credit losses		230
Write-off of uncollectible receivables		(117	)

Balance as of March 31, 2021	$	1,231

Inventory (Tables)

3 Months Ended

Mar. 31, 2021

Inventory Disclosure [Abstract]

inventory consisted of the following

Our inventory consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Raw materials	$	4,487	$	4,423
Work in process		222		220
Finished products		2,637		3,350

Inventory	$	7,346	$	7,993

Prepaid and other current assets (Tables)

3 Months Ended

Mar. 31, 2021

Prepaid Expense and Other Assets, Current [Abstract]

prepaid and other current assets consisted of the following

Our prepaid and other current assets consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Insurance	$	1,522	$	2,568
Paragraph IV legal proceeding costs		1,926		—
Other		4,912		4,975

Prepaid and other current assets	$	8,360	$	7,543

Fixed assets, net (Tables)

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Our fixed assets, net consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Furniture and fixtures	$	1,407	$	1,407
Computer and office equipment		1,810		1,784
Computer software		450		412
Leasehold improvements		80		80

Fixed assets		3,747		3,683
Less: accumulated depreciation and amortization		1,935		1,741

Fixed assets, net	$	1,812	$	1,942

License rights and other intangible assets, net (Tables)

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The following provides information about our license rights and other intangible assets, net

The following provides information about our license rights and other intangible assets, net (in thousands):


	March 31, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Intangible assets subject to amortization
License rights agreement	$	40,000	$	4,559	$	35,441	$	40,000	$	3,803	$	36,197
Hormone therapy drug patents		4,181		818		3,363		4,045		748		3,297
Hormone therapy drug patents applied and pending approval		1,857		—		1,857		1,628		—		1,628

		46,038		5,377		40,661		45,673		4,551		41,122
Intangible assets not subject to amortization Trademarks/trade name rights		333		—		333		323		—		323

	$	46,371	$	5,377	$	40,994	$	45,996	$	4,551	$	41,445

Accrued expenses and other current liabilities (Tables)

3 Months Ended

Mar. 31, 2021

Payables and Accruals [Abstract]

Schedule Of Other accrued expenses and other current liabilities

Other accrued expenses and other current liabilities consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Payroll and related costs	$	8,311	$	11,179
Rebates		12,691		11,011
Sales returns and coupons		5,676		7,057
Wholesale distributor fees		4,243		2,632
Professional fees		6,198		925
Other accrued expenses and current liabilities		8,855		5,366

Accrued expenses and other current liabilities	$	45,974	$	38,170

Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Out debt consisted of the following

debt consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Financing Agreement	$	200,000	$	250,000
Less: deferred financing fees		16,030		12,302

Debt, net		183,970		237,698
Current maturities of long-term debt		5,000		—

Long-term debt	$	178,970	$	237,698

Interest expense and other financing costs consisted of the following

Interest expense and other financing costs consisted of the following (in thousands):


	Three Months Ended March 31,
	2021		2020
Interest expense	$	6,455	$	5,942
Interest prepayment fees		2,500		—
Financing fees amortization		1,272		320

Interest expense and other financing costs	$	10,227	$	6,262

Future estimated amortization of our deferred financing fees

The future estimated amortization of our deferred financing fees is as follows (in thousands):


	Year Ended December 31,
2021 (9 months)	$	4,377
2022		5,875
2023		5,078
2024		700

	$	16,030

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Revenue (Tables)

3 Months Ended

Mar. 31, 2021

Disaggregation of Revenue [Abstract]

Summary of information about disaggregated revenue by product mix

The following table provides information about disaggregated revenue by product mix and service (in thousands):


	Three Months Ended March 31,
	2021		2020
ANNOVERA	$	8,750	$	2,273
IMVEXXY		7,012		6,392
BIJUVA		2,445		1,112
Prescription vitamin		1,425		2,474

Product revenue, net		19,632		12,251
License revenue		234		—

Total revenue, net	$	19,866	$	12,251

Operating expenses (Tables)

3 Months Ended

Mar. 31, 2021

Operating Expenses [Abstract]

Schedule of Information About Operating Expenses

The following provides information about operating expenses (in thousands):


		Three Months Ended March 31,
		2021			2020
Compensation and employee benefits	$		19,891	$		18,018
Selling and marketing			13,865			29,742
General and administrative			8,651			9,429
Research and development			2,050			3,269

Total operating expenses	$	44,457		$	60,458

Loss per common share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Summary of computation of basic and diluted loss per common share

The following table sets forth the computation of basic and diluted loss per common share for the periods presented (in thousands, except per share amounts):


	Three Months Ended March 31,
	2021			2020
Numerator:
Net loss	$	(39,383	)	$	(56,849	)

Denominator:
Weighted average common shares for
basic loss per common share		347,219			271,460
Effect of dilutive securities		—			—

Weighted average common shares for
diluted loss per common share		347,219			271,460

Loss per common share, basic and diluted	$	(0.11	)	$	(0.21	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The following table sets forth the securities which are not included in the calculation of diluted earnings per common share (in thousands):


	Three Months Ended March 31,
	2021		2020
Stock options		23,710		25,155
RSUs		7,326		4,474
PSUs		2,393		2,384
Warrants		5,852		1,833

	39,281		33,846

Business Concentrations (Tables)

3 Months Ended

Mar. 31, 2021

Disclosure of Revenue and Purchases [Line Items]

Summary Of Customers With Product Revenue For The Periods Indicated Were As Follows

Customers with product revenue equal to or greater than 10% of

our

total revenue for the periods indicated were as follows:


	Three Months Ended March 31,
	2021	2020
Customer A	13%	26%
Customer B	18%	18%
Customer C	22%	15%
Customer D	*	10%

Summary Of Vendors With Product Purchases For The Periods

Vendors with product purchases equal to or greater than 10% of

our

total purchases for the periods indicated were as follows:


	Three Months Ended March 31,
	2021	2020
Catalent	29%	24%
Vendor A	33%	28%
Vendor B	32%	32%
Vendor C	*	13%

Accounts Receivable [Member]

Disclosure of Revenue and Purchases [Line Items]

Summary Of Customers With Product Revenue For The Periods Indicated Were As Follows

Customers that accounted for 10% or

greater of our accounts receivable as of the periods indicated were as follows:

	March 31, 2021	December 31, 2020
Customer A	14%	17%
Customer B	20%	19%
Customer C	33%	25%
Customer D	*	11%

Accounts Payable [Member]

Disclosure of Revenue and Purchases [Line Items]

Summary Of Vendors With Product Purchases For The Periods

Vendors that accounted for 10%

or greater of our accounts payable as of the periods indicated were as follows:


	March 31, 2021	December 31, 2020

Vendor D	19%	*
Vendor E	*	17%
Vendor F	*	16%
Vendor G	*	10%

Accounts receivable - Summary Of Accounts Receivable Allowance For Credit Losses (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($)
Credit Loss [Abstract]
Beginning balance	$ 1,118
Charges to provision for credit losses	230
Write-off of uncollectible receivables	(117)
Ending Balance	$ 1,231

Inventory consisted of the following (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 4,487	$ 4,423
Work in process	222	220
Finished products	2,637	3,350
Inventory	$ 7,346	$ 7,993

Prepaid and other current assets consisted of the following (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Prepaid Expense and Other Assets, Current [Abstract]
Insurance	$ 1,522	$ 2,568
Paragraph IV legal proceeding costs	1,926
Other	4,912	4,975
Prepaid and other current assets	$ 8,360	$ 7,543

Fixed assets, net consisted of the following (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Fixed assets	$ 3,747	$ 3,683
Less: accumulated depreciation and amortization	1,935	1,741
Fixed assets, net	1,812	1,942
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Fixed assets	1,407	1,407
Computer and office equipment [Member]
Property, Plant and Equipment [Line Items]
Fixed assets	1,810	1,784
Computer software [Member]
Property, Plant and Equipment [Line Items]
Fixed assets	450	412
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Fixed assets	$ 80	$ 80

Fixed assets, net (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation	$ 193	$ 199

License rights and other intangible assets, net - The following provides information about our license rights and other intangible assets, net (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 46,038	$ 45,673
Finite-Lived Intangible Assets, Accumulated Amortization	5,377	4,551
Finite-Lived Intangible Assets, Net	40,661	41,122
Intangible Assets, Gross (Excluding Goodwill)	46,371	45,996
Intangible Assets, Net (Excluding Goodwill)	40,994	41,445
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	333	323
Intangible Assets, Net (Excluding Goodwill)	333	323
License rights agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	40,000	40,000
Finite-Lived Intangible Assets, Accumulated Amortization	4,559	3,803
Finite-Lived Intangible Assets, Net	35,441	36,197
Hormone Therapy Drug Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	4,181	4,045
Finite-Lived Intangible Assets, Accumulated Amortization	818	748
Finite-Lived Intangible Assets, Net	3,363	3,297
Hormone Therapy Drug Candidate Patents - applied and Pending [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,857	1,628
Finite-Lived Intangible Assets, Net	$ 1,857	$ 1,628

License rights and other intangible assets, net (Details Narrative) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($) patents	Mar. 31, 2020 USD ($)	Dec. 31, 2020 patents
Finite-Lived Intangible Assets [Line Items]
Number of issued patents \| patents	79		77
Domestic US Patents
Finite-Lived Intangible Assets [Line Items]
Number of issued patents \| patents	40		38
Licensing Agreements [Member] \| Cost of Sales [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets \| $	$ 756	$ 746
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets \| $	$ 70	$ 63

Accrued expenses and other current liabilities - Other accrued expenses and other current liabilities consisted of the following (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Payroll and related costs	$ 8,311	$ 11,179
Rebates	12,691	11,011
Sales returns and coupons	5,676	7,057
Wholesale distributor fees	4,243	2,632
Professional fees	6,198	925
Other accrued expenses and current liabilities	8,855	5,366
Accrued expenses and other current liabilities	$ 45,974	$ 38,170

Debt - Our debt consisted of the following (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Less: deferred financing fees	$ 16,030	$ 12,302
Debt, net	183,970	237,698
Current maturities of long-term debt	5,000
Long-term Debt	178,970	237,698
Financing Agreement [Member]
Debt Instrument [Line Items]
Financing Agreement	$ 200,000	$ 250,000

Debt - Interest expense and other financing costs consisted of the following (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest Expense and Financing Costs of Debt [Line Items]
Interest expense	$ 6,455	$ 5,942
Interest prepayment fees	2,500
Financing fees amortization	1,272	320
Interest expense and other financing costs	$ 10,227	$ 6,262

Debt - Future estimated amortization of our deferred financing fees is as follows (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Estimated Future Amortization Of Deferred Financing Fee Disclosure [Line Items]
Deferred financing fees	$ 16,030	$ 12,302
2021
Estimated Future Amortization Of Deferred Financing Fee Disclosure [Line Items]
Deferred financing fees	4,377
2022
Estimated Future Amortization Of Deferred Financing Fee Disclosure [Line Items]
Deferred financing fees	5,875
2023
Estimated Future Amortization Of Deferred Financing Fee Disclosure [Line Items]
Deferred financing fees	5,078
2024
Estimated Future Amortization Of Deferred Financing Fee Disclosure [Line Items]
Deferred financing fees	$ 700

Debt (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
Debt (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Debt Instrument [Line Items]
Repayments of Debt	$ 50,000
Debt Financing Fee Paid	5,000	$ 1,250
Deferred Offering Costs	$ 5,000
Repayment on March 31, 2022 [Member]
Debt Instrument [Line Items]
Prepayment fee percentage	30.00%
Repayments on March 31, 2022, June 30, 2022 and September 30, 2022 [Member]
Debt Instrument [Line Items]
Additional principal repayment	$ 5,000
Repayments on December 31, 2022 and March 31, 2023 [Member]
Debt Instrument [Line Items]
Additional principal repayment	10,000
Repayments on June 30, 2023, September 30, 2023, December 31, 2023 and March 31, 2024 [Member]
Debt Instrument [Line Items]
Additional principal repayment	$ 41,250
Repayment on April 1, 2022 through March 31, 2023 [Member]
Debt Instrument [Line Items]
Prepayment fee percentage	5.00%
Repayments from April 1, 2023 through March 31, 2024 [Member]
Debt Instrument [Line Items]
Prepayment fee percentage	3.00%
Financing Agreement [Member] \| Forecasted debt covenant compliance [Member]
Debt Instrument [Line Items]
Minimum cash balance requirement under credit agreement	$ 60,000
Financing Agreement Amendment 7 [Member] \| Long-term Debt [Member]
Debt Instrument [Line Items]
Debt Financing Fee Paid	5,000
Imvexxy Bijuva And Annovera [Member]
Debt Instrument [Line Items]
Repayments of Debt	$ 50,000
Prepayment fee percentage	5.00%
Financing Agreement Amendment No 8 [Member] \| Repayment on March 31, 2022 [Member]
Debt Instrument [Line Items]
Prepayment fee percentage	5.00%
Additional principal repayment	$ 5,000

Commitments and Contingencies (Details Narrative) $ in Millions	3 Months Ended
	Mar. 31, 2021 USD ($)
Prepaid Expenses and Other Current Assets [Member] \| Paragraph Four Certification Notice Letter [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Legal proceeding costs	$ 1.9
BIJUVA [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Minimum supply commitment fee percentage payable	50.00%
IMVEXXY [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Minimum supply commitment fee percentage payable	60.00%

Stockholders' equity (deficit) (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended			3 Months Ended
	Feb. 08, 2021	Mar. 31, 2021	Feb. 28, 2021	Nov. 30, 2020	Mar. 31, 2021
Common Stock [Member]
Class of Stock [Line Items]
Shares Issued, Price Per Share			$ 1.85
Stock Issued During Period, Shares, New Issues			59,500,000		92,870,000
Proceeds from Stock Plans	$ 47,300		$ 96,600
Common Stock [Member] \| 2020 ATM Program [Member]
Class of Stock [Line Items]
Percentage Of Commission Rate Gross Sales Price		3.00%			3.00%
Sale of Stock, Number of Shares Issued in Transaction	28,600,000
Public offering of common stock authorized for sale				$ 50,000
Common Stock [Member] \| 2021 ATM Program [Member]
Class of Stock [Line Items]
Percentage Of Commission Rate Gross Sales Price				3.00%
Sale of Stock, Price Per Share	$ 1.75	$ 1.59			$ 1.59
Proceeds from Stock Plans					$ 7,000
Sale of Stock, Number of Shares Issued in Transaction					4,800,000
Public offering of common stock authorized for sale		$ 100,000
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Number of shares granted					327,000
Weighted average grant date fair value granted					$ 1.58
Weighted average vesting life					2 years 1 month 6 days
Number of shares vested					52,000
Weighted average grant date fair value vested					$ 1.86
Number of shares vested but not yet settled					732,000
Anticipated Settlement of shares					2021-05
Weighted average grant date fair value		$ 1.07			$ 1.07
Warrant [Member] \| Common Stock [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		358,000			358,000
Number Of Warrants Or Rights Issued		298,000			298,000
Stock Issued During Period, Shares, New Issues		205,000
Weighted average grant date warrant fair value		563,000			563,000
Weighted average exercise price of warrants					$ 0.24
Public offering of common stock authorized for sale		$ 50

Revenue - Summary of information about disaggregated revenue by product mix (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 19,866	$ 12,251
ANNOVERA [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	8,750	2,273
IMVEXXY [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	7,012	6,392
BIJUVA [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	2,445	1,112
Prescription Vitamins [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,425	2,474
Product [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	19,632	12,251
License [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 234	$ 0

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Operating Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
Operating Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Operating Expenses [Line Items]
Research and development	$ 2,050	$ 3,269
Total operating expenses	44,457	60,458
Operating Expense [Member]
Operating Expenses [Line Items]
Compensation and employee benefits	19,891	18,018
Selling and marketing	13,865	29,742
General and administrative	8,651	9,429
Research and development	2,050	3,269
Total operating expenses	$ 44,457	$ 60,458

Income Tax (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
Income Tax (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Loss per common share - Summary of computation of basic and diluted loss per common share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net loss	$ (39,383)	$ (56,849)
Denominator:
Weighted average common shares for basic loss per common share	347,219	271,460
Effect of dilutive securities	0	0
Weighted average common shares for diluted loss per common share	347,219	271,460
Loss per common share, basic and diluted	$ (0.11)	$ (0.21)

- Definition

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

+ References

+ Details

Schedule of calculation of diluted net loss per share allocable to common stockholders (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	39,281	33,846
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	23,710	25,155
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,326	4,474
PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,393	2,384
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,852	1,833

Related parties (Details) - USD ($)	3 Months Ended
Related parties (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Catalent [Member]
Related Party Transaction [Line Items]
Amount billed	$ 772,000	$ 1,300,000
Accounts Payable, Related Parties, Current	639,000		$ 276,000
American International Group [Member]
Related Party Transaction [Line Items]
Amount billed	13,000	$ 71,000
Accounts Payable, Related Parties, Current	$ 0		$ 0

Business concentrations - Summary Of Customers With Product Revenue For The Periods Indicated Were As Follows (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Customer A [Member]
Disclosure Of Customers With Product Revenue and Account Receivable For The Period [Line Items]
Concentration Risk, Percentage	13.00%	26.00%
Customer A [Member] \| Accounts Receivable [Member]
Disclosure Of Customers With Product Revenue and Account Receivable For The Period [Line Items]
Concentration Risk, Percentage	14.00%	17.00%
Customer B [Member]
Disclosure Of Customers With Product Revenue and Account Receivable For The Period [Line Items]
Concentration Risk, Percentage	18.00%	18.00%
Customer B [Member] \| Accounts Receivable [Member]
Disclosure Of Customers With Product Revenue and Account Receivable For The Period [Line Items]
Concentration Risk, Percentage	20.00%	19.00%
Customer C [Member]
Disclosure Of Customers With Product Revenue and Account Receivable For The Period [Line Items]
Concentration Risk, Percentage	22.00%	15.00%
Customer C [Member] \| Accounts Receivable [Member]
Disclosure Of Customers With Product Revenue and Account Receivable For The Period [Line Items]
Concentration Risk, Percentage	33.00%	25.00%
Customer D [Member]
Disclosure Of Customers With Product Revenue and Account Receivable For The Period [Line Items]
Concentration Risk, Percentage		10.00%
Customer D [Member] \| Accounts Receivable [Member]
Disclosure Of Customers With Product Revenue and Account Receivable For The Period [Line Items]
Concentration Risk, Percentage		11.00%

Business concentrations - Summary Of The Vendors With Product Purchases For The Periods (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Catalent [Member]
Disclosure Of Vendors With Product Purchases and Accounts Payable For The Periods [Line Items]
Concentration Risk, Percentage	29.00%	24.00%
Vendor A [Member]
Disclosure Of Vendors With Product Purchases and Accounts Payable For The Periods [Line Items]
Concentration Risk, Percentage	33.00%	28.00%
Vendor B [Member]
Disclosure Of Vendors With Product Purchases and Accounts Payable For The Periods [Line Items]
Concentration Risk, Percentage	32.00%	32.00%
Vendor C [Member]
Disclosure Of Vendors With Product Purchases and Accounts Payable For The Periods [Line Items]
Concentration Risk, Percentage		13.00%
Vendor D [Member] \| Accounts Payable [Member]
Disclosure Of Vendors With Product Purchases and Accounts Payable For The Periods [Line Items]
Concentration Risk, Percentage	19.00%
Vendor E [Member] \| Accounts Payable [Member]
Disclosure Of Vendors With Product Purchases and Accounts Payable For The Periods [Line Items]
Concentration Risk, Percentage		17.00%
Vendor F [Member] \| Accounts Payable [Member]
Disclosure Of Vendors With Product Purchases and Accounts Payable For The Periods [Line Items]
Concentration Risk, Percentage		16.00%
Vendor G [Member] \| Accounts Payable [Member]
Disclosure Of Vendors With Product Purchases and Accounts Payable For The Periods [Line Items]
Concentration Risk, Percentage		10.00%

Business concentrations (Details Narrative)	3 Months Ended
Business concentrations (Details Narrative)	Mar. 31, 2021
Maximum [Member] \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%
Maximum [Member] \| Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%
Maximum [Member] \| Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%
Maximum [Member] \| Accounts Payable [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%
Minimum [Member] \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%
Minimum [Member] \| Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%
Minimum [Member] \| Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%
Minimum [Member] \| Accounts Payable [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%