TherapeuticsMD (TXMD) investors are keeping an eye on the pace of commercialization efforts for Imvexxy, Annovera, and Bijuva. That will prove critical for getting the company on track for sustainable profits in the next few years. Management believes that the potential addressable markets for these drugs are $20 billion, $25 billion, and $5 billion, respectively, in the U.S. alone.
At the recent JPMorgan Annual Healthcare Conference, management has shared data with investors showing that Imvexxy is selling faster compared to the ramp-up for other drugs in the women’s-health space like Osphena and Intrarosa. Specifically, through December 31, ~62.4K paid prescriptions have been dispensed to ~25.5K patients. 62% of eligible patients have filled their 4th prescription. Average of 2.3 fills per patient.
Oppenheimer analyst Jay Olson commented, “The Imvexxy launch continues to set the standard for best-in-class with an initial trajectory on track to double the uptake of the most recent competitive launch. With the Bijuva launch on the horizon (likely 2Q, in our view), we note several important synergies with Imvexxy that TXMD plans to leverage. Many women experience hot flashes and VVA, providing TXMD an opportunity to educate and expand both markets. We continue to view Bijuva as a significant opportunity with ~2x the peak sales potential compared to Imvexxy and, therefore, the dominant value driver for TXMD shares while Annovera (2H19 launch) represents an underappreciated source of additional upside.”
Olson reiterates an Outperform rating on TherapeuticsMD shares, with a price target of $14, which represents a potential upside of 166% from where the stock is currently trading. (To watch Olson’s track record, click here)
Overall, Wall Street’s confidence on this biotech player speaks for itself; TherapeuticsMD has received a whopping 7 buy ratings in the last 12 months. Meanwhile, the consensus price target of $16 suggests a potential upside of over 200% from the current share price. (See TXMD’s price targets and analyst ratings on TipRanks)