TherapeuticsMD closes Mayne Pharma license deal, appoints new CEO, reports pro forma loss

TherapeuticsMD, Inc.

On Dec 30, 2022, terminated co-CEOs Brian Bernick and Mark Glickman; Glickman eligible for $100k consulting fee plus performance bonuses.
On Jan 4, 2023, appointed General Counsel Marlan Walker as CEO and Principal Executive Officer.
Mayne Pharma paid $140M upfront for licenses and assets; plus ~$12.1M for working capital and $1M prepaid royalties.
Pro forma 2021 net loss of $7.0M, 9mo 2022 net loss of $6.6M; balance sheet shows debt eliminated, cash of ~$128M post-transaction.
Royalty stream includes 8% on first $80M annual sales, minimum $3M/year for 12 years, and milestone payments up to $30M.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Marlan Walker

Chief Executive Officer

TXMD · TherapeuticsMD, Inc.

Effective: 2023-01-04
Filed: January 6, 2023, 6:59 PM ET

On January 4, 2023, the Board appointed Mr. Marlan Walker, the Company’s General Counsel, as the Company’s Chief Executive Officer and Principal Executive Officer.

Departed (interim)

Mark Glickman

Interim Co-Chief Executive Officer

TXMD · TherapeuticsMD, Inc.

Effective: 2022-12-30
Successor: Marlan Walker
Filed: January 6, 2023, 6:59 PM ET

On December 30, 2022 (the “Closing Date”), the Company terminated Dr. Brian Bernick and Mr. Mark Glickman as the Company’s Interim Co-Chief Executive Officers and Principal Executive Officers.

Departed (interim)

Brian Bernick

Interim Co-Chief Executive Officer

TXMD · TherapeuticsMD, Inc.

Effective: 2022-12-30
Successor: Marlan Walker
Filed: January 6, 2023, 6:59 PM ET

On December 30, 2022 (the “Closing Date”), the Company terminated Dr. Brian Bernick and Mr. Mark Glickman as the Company’s Interim Co-Chief Executive Officers and Principal Executive Officers.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Marlan Walker was appointed as Chief Executive Officer at TherapeuticsMD, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On January 4, 2023, the Board appointed Mr. Marlan Walker, the Company’s General Counsel, as the Company’s Chief Executive Officer and Principal Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Glickman was terminated as Interim Co-Chief Executive Officer at TherapeuticsMD, Inc..

Action: terminated
Role: Interim Co-Chief Executive Officer

Exact text from the filing

On December 30, 2022 (the “Closing Date”), the Company terminated Dr. Brian Bernick and Mr. Mark Glickman as the Company’s Interim Co-Chief Executive Officers and Principal Executive Officers.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brian Bernick was terminated as Interim Co-Chief Executive Officer at TherapeuticsMD, Inc..

Action: terminated
Role: Interim Co-Chief Executive Officer

Exact text from the filing

On December 30, 2022 (the “Closing Date”), the Company terminated Dr. Brian Bernick and Mr. Mark Glickman as the Company’s Interim Co-Chief Executive Officers and Principal Executive Officers.

View on SEC.gov

TherapeuticsMD, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-003686

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