TXMD · TherapeuticsMD, Inc.
Substantial doubt about the company's ability to continue as a going concern.
“The potential impact of these factors in conjunction with the uncertainty of the capital markets raises substantial doubt about our ability to continue as a going concern for the next twelve months from the issuance of these financial statements.”View the 10-Q filed May 12, 2026
3 customers — 100% of revenue (the three months ended March 31, 2026)
“For the three months ended March 31, 2026, 100% of license revenue related to Mayne Pharma, Theramex and Knight.”
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 3, 4 and 5. Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2025-12-23 | Thompson Tommy G |
Director |
Buy↑
|
Common Stock
|
8,400 |
| 2025-11-03 | Walker Marlan D |
Chief Executive Officer |
Award↑
Filing footnotes — Non-Qualified Stock Option (right to buy) (Direct)
Underlying shares each vested on November 3, 2025. |
Non-Qualified Stock Option (right to buy)
|
67,492 |
| 2025-11-03 | Naughton Gail K |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer. The RSUs will vest on November 3, 2028. |
Restricted Stock Units
|
8,500 |
| 2025-11-03 | Thompson Tommy G |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer. The RSUs will vest on November 3, 2028. |
Restricted Stock Units
|
8,500 |
| 2025-11-03 | Collins Cooper C. |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer. The RSUs will vest on November 3, 2028. |
Restricted Stock Units
|
8,500 |
| 2025-04-14 | Walker Marlan D |
Chief Executive Officer |
Buy↑
|
Common Stock
|
490 |
| 2025-04-14 | Thompson Tommy G |
Director |
Buy↑
Filing footnotes — Common Stock (Direct)
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices of $0.99 through $1.05, inclusive. The reporting person undertakes to provide to TherapeuticsMD, Inc., any security holder of TherapeuticsMD, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth. |
Common Stock
|
325 |
| 2025-04-10 | Walker Marlan D |
Chief Executive Officer |
Buy↑
|
Common Stock
|
1,167 |
| 2025-04-09 | Walker Marlan D |
Chief Executive Officer |
Buy↑
Filing footnotes — Common Stock (Direct)
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices of $0.8741 through $0.88, inclusive. The reporting person undertakes to provide to TherapeuticsMD, Inc., any security holder of TherapeuticsMD, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth. |
Common Stock
|
1,136 |
| 2025-02-18 | Collins Cooper C. |
Director |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the issuer. On February 18, 2025, the reporting person received 8,500 shares of common stock of the issuer in settlement of RSUs, which vested on July 17, 2024. |
Restricted Stock Units
|
8,500 |
| 2025-02-18 | Walker Marlan D |
Chief Executive Officer |
Convert↑
|
Common Stock
|
2,311 |
| 2025-02-18 | Walker Marlan D |
Chief Executive Officer |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the issuer. On February 18, 2025, the reporting person received 2,311 shares of common stock of the issuer in settlement of RSUs, which vested on July 1, 2024. |
Restricted Stock Units
|
2,311 |
| 2025-02-18 | Walker Marlan D |
Chief Executive Officer |
Convert↑
|
Common Stock
|
1,733 |
| 2025-02-18 | Walker Marlan D |
Chief Executive Officer |
Convert↑
|
Common Stock
|
770 |
| 2025-02-18 | Walker Marlan D |
Chief Executive Officer |
Convert↑
|
Common Stock
|
3,467 |
| 2025-02-18 | Naughton Gail K |
Director |
Convert↑
|
Common Stock
|
8,500 |
| 2025-02-18 | Thompson Tommy G |
Director |
Convert↑
|
Common Stock
|
8,500 |
| 2025-02-18 | Walker Marlan D |
Chief Executive Officer |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each RSU represents a contingent right to receive one share of common stock of the issuer. The RSUs vest in three equal installments annually beginning March 23, 2023, becoming fully vested on March 23, 2025. On February 18, 2025, the reporting person received 1,733 shares of common stock of the issuer in settlement of RSUs, which vested on March 23, 2024. |
Restricted Stock Units
|
1,733 |
| 2025-02-18 | Collins Cooper C. |
Director |
Convert↑
|
Common Stock
|
8,500 |
| 2025-02-18 | Naughton Gail K |
Director |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the issuer. On February 18, 2025, the reporting person received 8,500 shares of common stock of the issuer in settlement of RSUs, which vested on July 17, 2024. |
Restricted Stock Units
|
8,500 |
| 2025-02-18 | Thompson Tommy G |
Director |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the issuer. On February 18, 2025, the reporting person received 8,500 shares of common stock of the issuer in settlement of RSUs, which vested on July 17, 2024. |
Restricted Stock Units
|
8,500 |
| 2025-02-18 | Walker Marlan D |
Chief Executive Officer |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each RSU represents a contingent right to receive one share of common stock of the issuer. On February 18, 2025, the reporting person received 770 shares of common stock of the issuer in settlement of RSUs, which vested on September 29, 2024. |
Restricted Stock Units
|
770 |
| 2025-02-18 | Walker Marlan D |
Chief Executive Officer |
Convert↓
Filing footnotes — Performance Stock Units (Direct)
Each performance stock unit ("PSU") represents a contingent right to receive one share of common stock of the issuer. On February 18, 2025, the reporting person received 3,467 shares of common stock of the issuer in settlement of PSUs. |
Performance Stock Units
|
3,467 |
| 2024-08-22 | Collins Cooper C. |
Director |
Buy↑
Filing footnotes — Common Stock (Direct)
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices of $1.69 through $1.75, inclusive. The reporting person undertakes to provide to TherapeuticsMD, Inc., any security holder of TherapeuticsMD, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth. |
Common Stock
|
4,094 |
| 2024-08-21 | Collins Cooper C. |
Director |
Buy↑
Filing footnotes — Common Stock (Direct)
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices of $1.685 through $1.70, inclusive. The reporting person undertakes to provide to TherapeuticsMD, Inc., any security holder of TherapeuticsMD, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth. |
Common Stock
|
1,200 |
| 2023-12-07 | Walker Marlan D |
Chief Executive Officer |
Sell↓
Filing footnotes — Common Stock (Direct)
The reported securities represent shares of issuer common stock sold upon settlement to satisfy tax obligations. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices of $2.15 through $2.31, inclusive. The reporting person undertakes to provide to TherapeuticsMD, Inc., any security holder of TherapeuticsMD, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth. |
Common Stock
|
4,550 |
| 2023-12-06 | Walker Marlan D |
Chief Executive Officer |
Sell↓
Filing footnotes — Common Stock (Direct)
The reported securities represent shares of issuer common stock sold upon settlement to satisfy tax obligations. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices of $2.22 through $2.48, inclusive. The reporting person undertakes to provide to TherapeuticsMD, Inc., any security holder of TherapeuticsMD, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth. |
Common Stock
|
14,500 |
| 2023-12-05 | Walker Marlan D |
Chief Executive Officer |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit (RSU) represents a contingent right to receive one share of common stock of the issuer. The RSUs vested in full on June 30, 2023. |
Restricted Stock Units
|
70,000 |
| 2023-12-05 | Walker Marlan D |
Chief Executive Officer |
Convert↑
|
Common Stock
|
70,000 |
| 2023-11-15 | Rubric Capital Management LP |
10% Owner |
Award↑
Filing footnotes — Common Stock, par value $0.001 per share ("Common Stock") (Indirect)
The Common Stock was purchased in connection with a Subscription Agreement entered into as of May 1, 2023 between the Issuer and Rubric Capital, as described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 5, 2023. This Form 4 is filed by Rubric Capital Management LP ("Rubric Capital") and Mr. David Rosen, with respect to the securities held by certain funds and/or accounts (collectively, the "Rubric Vehicles"). Rubric Capital serves as the investment adviser to the Rubric Vehicles. Mr. David Rosen serves as the Managing Member of Rubric Capital Management GP, LLC, the general partner of Rubric Capital. The filing of this statement shall not be deemed an admission that any Reporting Person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each Reporting Person expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. |
Common Stock, par value $0.001 per share ("Common Stock")
(I)
|
877,192 |
| 2023-08-17 | ZIEGLER JOSEPH |
Principal Financial Officer |
Other↑
|
No Securities Owned
|
0 |
| 2023-08-17 | ZIEGLER JOSEPH |
Principal Financial Officer |
Award↑
Filing footnotes — Common Stock (Direct)
These shares of common stock of the Issuer are to be acquired upon the vesting of restricted stock units ("RSUs") granted to the Reporting Person. The RSUs shall fully vest on the earlier of August 17, 2024 or a Change in Control of the Issuer (as defined in the Issuer's 2019 Stock Incentive Plan). |
Common Stock
|
7,500 |
| 2023-07-17 | Thompson Tommy G |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer. The RSU's will vest on July 17, 2024. |
Restricted Stock Units
|
8,500 |
| 2023-07-17 | Collins Cooper C. |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer. The RSU's will vest on July 17, 2024. |
Restricted Stock Units
|
8,500 |
| 2023-07-17 | Naughton Gail K |
Director |
Award↑
Filing footnotes — Restricted Stock Unit (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer. The RSU's will vest on July 17, 2024. |
Restricted Stock Unit
|
8,500 |
| 2023-06-28 | Rubric Capital Management LP |
10% Owner |
Award↑
Filing footnotes — Common Stock, par value $0.001 per share ("Common Stock") (Indirect)
The Common Stock was purchased in connection with a Subscription Agreement entered into as of May 1, 2023 between the Issuer and Rubric Capital, as described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 5, 2023. This Form 4 is filed by Rubric Capital Management LP ("Rubric Capital") and Mr. David Rosen, with respect to the securities held by certain funds and/or accounts (collectively, the "Rubric Vehicles"). Rubric Capital serves as the investment adviser to the Rubric Vehicles. Mr. David Rosen serves as the Managing Member of Rubric Capital Management GP, LLC, the general partner of Rubric Capital. The filing of this statement shall not be deemed an admission that any Reporting Person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each Reporting Person expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. |
Common Stock, par value $0.001 per share ("Common Stock")
(I)
|
312,525 |
| 2023-04-26 | Walker Marlan D |
Chief Executive Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
The beneficially owned shares have been adjusted as the restricted stock units previously reported as settled on April 12, 2023 were not settled on that date. The restricted stock units settled on April 26, 2023. |
Common Stock
|
1,734 |
| 2023-04-26 | Walker Marlan D |
Chief Executive Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
The beneficially owned shares have been adjusted as the restricted stock units previously reported as settled on April 12, 2023 were not settled on that date. The restricted stock units settled on April 26, 2023. |
Common Stock
|
1,010 |
| 2023-04-26 | Walker Marlan D |
Chief Executive Officer |
Sell↓
Filing footnotes — Common Stock (Direct)
The reported securities represent shares of issuer common stock sold upon settlement to satisfy tax obligations. |
Common Stock
|
692 |
| 2023-04-26 | Walker Marlan D |
Chief Executive Officer |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit (RSU) represents a contingent right to receive one share of common stock of the issuer. The RSUs vested in three equal installments annually, becoming fully vested on March 30, 2023. |
Restricted Stock Units
|
1,010 |
| 2023-04-26 | Walker Marlan D |
Chief Executive Officer |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit (RSU) represents a contingent right to receive one share of common stock of the issuer. The RSUs will vest in three equal installments annually beginning March 23, 2023, becoming fully vested on March 23, 2025. |
Restricted Stock Units
|
1,734 |
| 2023-04-12 | Donegan Michael C |
Prin. Fin. and Acctg. Officer |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of issuer common stock upon settlement. On April 12, 2023, the reporting person received 50,000 shares of issuer common stock in settlement of restricted stock units (RSUs). Each restricted stock unit (RSU) represents a contingent right to receive one share of common stock of the issuer. The RSUs vested in full on March 31, 2023. |
Restricted Stock Units
|
50,000 |
| 2023-04-12 | Donegan Michael C |
Prin. Fin. and Acctg. Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
Each restricted stock unit ("RSU") represents a contingent right to receive one share of issuer common stock upon settlement. On April 12, 2023, the reporting person received 50,000 shares of issuer common stock in settlement of restricted stock units (RSUs). |
Common Stock
|
50,000 |
| 2023-02-21 | Walker Marlan D |
Chief Executive Officer |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit (RSU) represents a contingent right to receive one share of common stock of the issuer. The RSUs will vest in full on June 30, 2023. |
Restricted Stock Units
|
70,000 |
| 2023-02-21 | Donegan Michael C |
Prin. Fin. and Acctg. Officer |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each restricted stock unit (RSU) represents a contingent right to receive one share of common stock of the issuer. The RSUs will vest in full on March 31, 2023. |
Restricted Stock Units
|
50,000 |
| 2023-01-27 | Donegan Michael C |
Prin. Fin. and Acctg. Officer |
Sell↓
Filing footnotes — Common Stock (Direct)
The reported securities represent shares of issuer common stock sold upon settlement to satisfy tax obligations. |
Common Stock
|
49 |
| 2023-01-26 | Donegan Michael C |
Prin. Fin. and Acctg. Officer |
Sell↓
Filing footnotes — Common Stock (Direct)
The reported securities represent shares of issuer common stock sold upon settlement to satisfy tax obligations. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.01 through $5.17, inclusive. The reporting person undertakes to provide to TherapeuticsMD, Inc., any security holder of TherapeuticsMD, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth. |
Common Stock
|
1,648 |
| 2023-01-26 | Donegan Michael C |
Prin. Fin. and Acctg. Officer |
Convert↓
Filing footnotes — Performance Stock Units (Direct)
Each performance stock unit ("PSU") represents a contingent right to receive one share of issuer common stock upon settlement. On January 26, 2023, the reporting person received 5,940 shares of issuer common stock in settlement of performance stock units (PSUs). Vesting of the PSUs was accelerated in connection with the termination of the reporting person's employment agreement without "Good Cause". |
Performance Stock Units
|
2,400 |
| 2023-01-26 | Donegan Michael C |
Prin. Fin. and Acctg. Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
Each performance stock unit ("PSU") represents a contingent right to receive one share of issuer common stock upon settlement. On January 26, 2023, the reporting person received 5,940 shares of issuer common stock in settlement of performance stock units (PSUs). |
Common Stock
|
2,400 |
| 2023-01-26 | Donegan Michael C |
Prin. Fin. and Acctg. Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
Each performance stock unit ("PSU") represents a contingent right to receive one share of issuer common stock upon settlement. On January 26, 2023, the reporting person received 5,940 shares of issuer common stock in settlement of performance stock units (PSUs). |
Common Stock
|
2,400 |