Stockholders' Equity (Deficit)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Stockholders’ Equity (Deficit)

10. Stockholders’ equity (deficit)

Warrants

The following tables summarizes the status of our outstanding and exercisable warrants and related transactions (each adjusted to account for the 50-for-1 reverse stock split) since December 31, 2021 (in thousands, except weighed average exercise price and weighted average remaining contractual life data):

	Outstanding and exercisable
	Warrants		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)
As of January 1, 2022		103	$	76.19	$	-		8.3
Exercised		-		-
As of March 31, 2022		103	$	76.19	$	-		8.1

Share-based compensation payment plans

As of March 31, 2022, 831,066 shares of common stock were subject to outstanding awards under our share-based payment award plans and inducement grants (calculated using the base number of PSUs that may vest). If we assume the maximum achievement of performance goals for PSUs, then 963,584 shares of common stock will be subject to outstanding awards under our share-based payment award plans and inducement grants. As of March 31, 2022, 83,880 shares of common stock were available for future grants of share-based payment awards under the TherapeuticsMD, Inc. 2019 Stock Incentive Plan.

The following table summarizes the status of our outstanding and exercisable options and related transactions (each adjusted to account for the 50-for-1 reverse stock split) since December 31, 2021 (in thousands, except weighed average exercise price and weighted average remaining contractual life data):

	Outstanding									Exercisable
	Options Awards			Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)		Options Awards		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)
As of January 1, 2022		353		$	225.97	$	-		3.8		336	$	230.93	$	-		3.6
Cancelled/Forfeited		(37	)		161.72
Expired		-			175.77
As of March 31, 2022		316		$	231.87	$	-		3.7		300	$	237.58	$	-		3.6

The following table summarizes the status of our RSUs and related transactions (each adjusted to account for the 50-for-1 reverse stock split) since December 31, 2021 (in thousands, except weighed average grant date fair value):

	Outstanding							Vested and not settled
	RSUs			Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value		RSUs		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
As of January 1, 2022		272		$	58.17	$	4,890		31	$	105.28	$	566
Granted		106			21.70
Vested and settled		(32	)		105.28		469
Cancelled/Forfeited		(7	)		53.74
As of March 31, 2022		339		$	43.11	$	6,440		13	$	74.17	$	252

The following table summarizes the status of our PSU and related transactions (each adjusted to account for the 50-for-1 reverse stock split) since December 31, 2021 (in thousands, except weighed average grant date fair value):

	Outstanding								Vested and not settled
	PSUs				Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value		PSUs		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
As of January 1, 2022		164			$	51.50	$	2,953		39	$	58.81	$	709
Granted		63				19.00
Vested and settled		(39	)			58.81		571
Cancelled/Forfeited		(12	)			57.69
As of March 31, 2022		176		(1)	$	37.85	$	3,346		-	$	-	$	-

^{(1) The number of PSUs represents the base number of PSUs that may vest. The actual number of PSUs that will vest will be between zero and 308,630 depending on the Company’s achievement of certain performance goals.}

Share-based payment compensation cost

Share-based payment compensation expense for PSUs is based on our current assessment of the most likely probability of the Company’s achievement of certain performance goals. For the three months ended March 31, 2022 and 2021, we recorded share-based payment compensation costs of $2.1 million and $3.0 million, respectively, in connection with previously granted options, RSU and PSUs, and shares of common stock issuable under the ESPP.

As of March 31, 2022, we had $17.8 million of unrecognized share-based payment award compensation cost related to unvested options, RSUs and PSUs as well as shares issuable under the ESPP, which may be adjusted if certain performance targets are achieved and for future changes in forfeitures and is included as additional paid-in capital in the accompanying consolidated balance sheets. No tax benefit was realized due to a continued pattern of net losses. The unrecognized compensation cost as of March 31, 2022 is expected to be recognized as share-based payment award compensation over a weighted average period of 2.2 years as follows (in thousands):

Year Ending December 31,
2022 (9 months)	$	8,124
2023		5,838
2024		3,513
2025		368
	$	17,843