TherapeuticsMD, Inc. (TXMD) saw its loss widen to $21.16 million, or $0.11 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $20.93 million, or $0.11 a share.
Revenue during the quarter dropped 19.16 percent to $3.99 million from $4.93 million in the previous year period. Gross margin for the quarter expanded 593 basis points over the previous year period to 83.45 percent.
Operating loss for the quarter was $21.29 million, compared with an operating loss of $20.97 million in the previous year period.
"We are focused on advancing our pipeline of novel hormone therapies and, if approved, bringing new, differentiated treatment options to women suffering from symptoms of menopause," said TherapeuticsMD chief executive officer Robert G. Finizio.
Operating cash flow remains negative
TherapeuticsMD, Inc. has spent $20.53 million cash to meet operating activities during the quarter as against cash outgo of $19.40 million in the last year period.
The company has spent $0.14 million cash to meet investing activities during the quarter as against cash outgo of $0.17 million in the last year period.
Cash flow from financing activities was $2.65 million for the quarter, down 98.06 percent or $134.31 million, when compared with the last year period.
Cash and cash equivalents stood at $113.53 million as on Mar. 31, 2017, down 37.66 percent or $68.57 million from $182.10 million on Mar. 31, 2016.
Working capital drops significantly
TherapeuticsMD, Inc. has witnessed a decline in the working capital over the last year. It stood at $107.19 million as at Mar. 31, 2017, down 40.53 percent or $73.05 million from $180.24 million on Mar. 31, 2016. Current ratio was at 8.61 as on Mar. 31, 2017, down from 19.78 on Mar. 31, 2016.
Cash conversion cycle (CCC) has increased to 463 days for the quarter from 127 days for the last year period. Days sales outstanding went up to 79 days for the quarter compared with 75 days for the same period last year.
Days inventory outstanding has increased to 91 days for the quarter compared with 68 days for the previous year period. At the same time, days payable outstanding went up to 633 days for the quarter from 269 for the same period last year.
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