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Stockholders' equity (deficit)
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Stockholders' equity (deficit)
8. Stockholders’ equity (deficit)
Warrants
As of September 30, 2023, the following table summarizes the status of our outstanding and exercisable warrants and related transactions since December 31, 2022 (in thousands, except weighted average exercise price and weighted average remaining contractual life data):
 
     Warrants Outstanding and exercisable  
     Warrants      Weighted Average
Exercise Price		      Aggregate Intrinsic Value      Weighted Average
Remaining Contractual
Life (in Years)		  
As of January 1, 2022
      536      $ 13.10      $ 2,427        9.3  
Exercised
      (435 )       —         (634 )       (4.5 ) 
Expired
      (2 )       —         —         —   
    
 
 
     
 
 
     
 
 
     
 
 
  
As of September 30, 2023
      99      $ 66.61      $ 1,793        6.5  
    
 
 
     
 
 
     
 
 
     
 
 
  
Share-based compensation payment plans
As of September 30, 2023, 382,207 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). As of September 30, 2023, 392,504 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 Reverse Stock Split) since December 31, 2022 (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, 2023
      172     $ 228.28        —         3.6        170     $ 229.43        —         3.6  
Granted
      —        —         —         —         —        —         —         —   
Exercised
      —        —         —         —         —        —         —         —   
Cancelled/Forfeited
      —        —         —         —         —        —         —         —   
Expired
      (92 )      206.54        —         —         (90 )      206.54        —         —   
    
 
 
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
As of September 30, 2023
      80     $ 253.31        —         3.2        80     $ 253.31        —         3.2  
    
 
 
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
The following table summarizes the status of our RSUs and related transactions (each adjusted to account for the Reverse Stock Split) since December 31, 2022 (in thousands, except weighed average grant date fair value):
 
     RSUs awards outstanding  
     RSUs      Weighted
Average
Grant Date
Fair Value		      Aggregate
Intrinsic
Value		  
As of January 1, 2023
      57      $ 14.57      $ 318.63  
Granted
      163        4.82        —   
Vested
      (136 )       —         —   
Cancelled/Forfeited
      —         —         —   
    
 
 
     
 
 
     
 
 
  
Unvested as of September 30, 2023
      84      $ 8.12      $ 253.67  
    
 
 
     
 
 
     
 
 
  
 
The following table summarizes the status of our PSUs and related transactions for each for the following years (each adjusted to account for the Reverse Stock Split) since December 31, 2022 (in thousands, except weighed average grant date fair value):
 
 
  
Outstanding
 
 
  
PSUs (1)
 
  
Weighted
Average
Grant Date
Fair Value
 
  
Aggregate
Intrinsic
Value
 
Unvested as of January 1, 2023
      19      $ 52.15      $ 107.55  
Granted
      —         —         —   
Vested
      (5 )       —         —   
Cancelled/Forfeited
      —         —         —   
    
 
 
     
 
 
     
 
 
  
Unvested, as of September 30, 2023
      14      $ 50.87      $ 43.71  
    
 
 
     
 
 
     
 
 
  
 
(1)
The number of PSUs represents the base number of PSUs that may vest.
Share-based payment compensation cost
Share-based payment compensation expense for PSUs is based on 100% vesting which was a part of the termination benefits for all employees who were terminated in 2022. We recorded share-based payment award compensation costs related to previously issued options, RSU and PSUs, as well as shares of common stock issued under our
employee stock purchase plan (“ESPP”)
totaling $0.2 million and $4.3 million for the three months ended September 30, 2023 and 2022
,
respectively, and $1.2 million and $8.5 million for the nine months ended September 30, 2023 and 2022
,
respectively.
As of September 30, 2023, we had $0.4 million of unrecognized share-based payment award compensation cost related to unvested options, RSUs and PSUs as well as shares issuable under our ESPP, which may be adjusted for future changes in forfeitures and is included as additional
paid-in
capital in the accompanying condensed consolidated balance sheets. No tax benefit was realized due to a continued pattern of net losses.
The unrecognized compensation cost as of September 30, 2023 of $0.4 million is expected to be recognized as share-based payment award compensation over a weighted average period of 0.6 years.