Stockholders' Equity (Deficit)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Stockholders' Equity (Deficit)

10. Stockholders’ equity (deficit)

Warrants

As of June 30, 2022, the following table 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 weighted average exercise price and weighted average remaining contractual life data):

	Outstanding									Exercisable
	Warrants			Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)		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		103	$	76.19	$	—		8.3
Granted		1			58.50
Expired		(3	)		341.50
As of June 30, 2022		101		$	69.45	$	—		7.9		101	$	69.51	$	—		7.9

Share-based compensation payment plans

As of June 30, 2022, 691,825 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 799,833 shares of common stock will be subject to outstanding awards under our share-based payment award plans and inducement grants. As of June 30, 2022, 203,125 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 weighted 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		$	225.98	$	-		3.8		336	$	230.93	$	-		3.6
Cancelled/Forfeited		(1	)		129.65
Expired		(95	)		243.77
As of June 30, 2022		257		$	219.75	$	-		3.6		246	$	224.15	$	-		3.5

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 weighted 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		$	58.93	$	4,891		31	$	105.28	$	566
Granted		106			21.71
Vested and settled		(63	)		81.39		787
Cancelled/Forfeited		(34	)		55.33
As of June 30, 2022		281		$	40.20	$	2,783		10	$	77.67	$	102

The following table summarizes the status of our PSUs and related transactions (each adjusted to account for the 50-for-1 reverse stock split) since December 31, 2021 (in thousands, except weighted 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				34.50
Vested and settled		(52	)			58.26		108
Cancelled/Forfeited		(20	)			58.69
As of June 30, 2022		155		(1)	$	41.41	$	1,543		—	$	—	$	—

^{(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 263,048 depending on the Company’s achievement of certain performance goals.}

Share-based payment compensation cost

Share-based payment compensation cost for PSUs is based on our current assessment of the most likely probability of the Company’s achievement of certain performance goals. In connection with previously granted options, RSUs and PSUs, and shares of common stock issuable under the TherapeuticsMD, Inc. 2020 Employee Stock Purchase Plan (“ESPP”), we recorded share-based payment compensation costs of $2.2 million and $2.5 million for the three months ended June 30, 2022 and 2021, respectively, and $4.3 million and $5.5 million for the six months ended June 30, 2022 and 2021, respectively.

As of June 30, 2022, we had $12.2 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 June 30, 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 (6 months)	$	3,277
2023		5,193
2024		3,331
2025		352
	$	12,153