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Stockholders’ Equity (Deficit) | 12 Months Ended
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Dec. 31, 2023
Stockholders’ Equity (Deficit) [Abstract] |
Stockholders’ Equity (Deficit) | 9. Stockholders’ Equity Increase of authorized shares On June 26, 2023, at our combined 2022 and 2023 Annual Meeting, our stockholders approved an amendment to our Amended and Restated Articles of Incorporation to increase the number of authorized shares of Common Stock from 12 million shares to 32 million shares. Warrants As of December 31, 2023, the following table summarizes the status of our outstanding and exercisable warrants and related transactions since December 31, 2021 (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) |
Balance, December 31, 2021 |  |  | 103 |  |  | $ | 76.19 |  |  | $ | — |  |  |  | 8.3 |
Granted |  |  | 436 |  |  |  | 0.14 |  |  |  |  |  |  |  |  |
Expired |  |  | (3 | ) |  |  | 341.5 |  |  |  |  |  |  |  |  |
Balance, December 31, 2022 |  |  | 536 |  |  |  | 13.10 |  |  |  | 2,427 |  |  |  | 9.3 |
Exercised |  |  | (435 | ) |  |  | 0.01 |  |  |  | (2,270 | ) |  |  |  |
Expired |  |  | (2 | ) |  |  | 0.89 |  |  |  |  |  |  |  |  |
Balance, December 31, 2023 |  |  | 99 |  |  | $ | 66.61 |  |  | $ | 1,793 |  |  |  | 6.5 |
We used the Black Scholes option pricing model to estimate the fair value of the warrants issued. The weighted average fair value of the warrants issued in 2022 was $0.13 per warrant and the assumptions used to determine such fair value were as follows: expected term of 10 years, volatility of 69.4%, dividend yields of 0% and risk-free interest rates of 2.9%. Share-based compensation payment plans As of December 31, 2023, 126,573 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 December 31, 2023, 394,669 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, 2022 |  |  | 353 |  |  | $ | 225.98 |  |  |  | — |  |  |  | 3.8 |  |  |  | 336 |  |  |  | 230.93 |  |  | $ | — |  |  |  | 3.6 |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Cancelled/Forfeited |  |  | (4 | ) |  |  | 94.99 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Expired |  |  | (177 | ) |  |  | 226.56 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
As of December 31, 2022 |  |  | 172 |  |  |  | 228.28 |  |  |  | — |  |  |  | 3.6 |  |  |  | 170 |  |  |  | 229.43 |  |  |  | — |  |  |  | 3.6 |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Cancelled/Forfeited |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Expired |  |  | (100 | ) |  |  | 206.15 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
As of December 31, 2023 |  |  | 72 |  |  | $ | 258.55 |  |  | $ | — |  |  |  | 3.0 |  |  |  | 73 |  |  |  | 258.46 |  |  | $ | — |  |  |  | 3.0 |
The following table summarizes the status of our RSUs and related transactions (each adjusted to account for the Reverse Stock Split) (in thousands, except weighed average grant date fair value):
|  | RSUs awards outstanding |
|  | RSUs |  |  | Weighted Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Balance, January 1, 2022 |  |  | 272 |  |  | $ | 58.00 |  |  | $ | 4,890.00 |
Granted |  |  | 170 |  |  |  | 16.05 |  |  |  |  |
Vested |  |  | (327 | ) |  |  | 48.20 |  |  |  |  |
Cancelled/Forfeited |  |  | (58 | ) |  |  | 37 |  |  |  |  |
Balance, as of December 31, 2022 |  |  | 57 |  |  |  | 14.57 |  |  |  | 318.63 |
Granted |  |  | 163 |  |  |  | 4.82 |  |  |  | — |
Vested |  |  | (180 | ) |  |  | 6.83 |  |  |  | — |
Cancelled/Forfeited |  |  | — |  |  |  | — |  |  |  | — |
Balance, as of December 31, 2023 |  |  | 40 |  |  | $ | 9.67 |  |  | $ | 89.6 |
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) (in thousands, except weighed average grant date fair value):
|  | PSUs |  |  | Weighted Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Balance, December 31, 2021 |  |  | 164 |  |  | $ | 51.50 |  |  | $ | 2,953 |
Granted |  |  | 63 |  |  |  | 34.50 |  |  |  |  |
Vested and settled |  |  | (133 | ) |  |  | 47.12 |  |  |  | (2,382.98 | )
Cancelled/Forfeited |  |  | (75 | ) |  |  | (44.85 | ) |  |  |  |
Unvested, as of January 1, 2023 |  |  | 19 |  |  |  | 52.15 |  |  |  | 107.55 |
Granted |  |  | — |  |  |  | — |  |  |  | — |
Vested |  |  | (5 | ) |  |  | 56.05 |  |  |  | (10.72 | )
Cancelled/Forfeited |  |  | — |  |  |  | — |  |  |  | — |
Unvested, as of December 31, 2023 |  |  | 14 |  |  | $ | 50.87 |  |  | $ | 33 |
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 $1.3 million for 2023 and $11.6 million for 2022. As of December 31, 2023, we had $0.3 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 consolidated balance sheets. No tax benefit was realized due to a continued pattern of net losses. The unrecognized compensation cost as of December 31, 2023 of $0.3 million is expected to be recognized as share-based payment award compensation over a weighted average period of 0.8 years.

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