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TherapeuticsMD prices US$125mln offering

Last updated: 10:50 07 Jan 2016 EST, First published: 03:50 07 Jan 2016 EST

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It will also be used for other research, clinical trials, clinical formulation and development, working capital and general corporate purposes

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Women's healthcare group TherapeuticsMD (NYSE: TXMD) is to price its offering to raise US$125mln at US$8.25 a share, it said today.

The group plans to us the majority of the cash to fund commercialisation  of its TX-004HR candidate for treating vulvar and vaginal atrophy (VVA) in postmenopausal women

It will also be used for other research, clinical trials, clinical formulation and development, working capital and general corporate purposes.

Also, TherapeuticsMD has granted an option for an additional 15% of the shares to be sold for a period of 30 days.

The offering is expected to close on or about January 12 this year, subject to certain conditions.

TherapeuticsMD's clinical development pipeline includes two phase 3 products. It also manufactures and distributes branded and generic prescription prenatal vitamins as well as over-the-counter vitamins under the vitaMedMD and BocaGreenMD brands.

Shares in New york added over 12% to stand at US$9.39.

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