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Stockholders’ equity
 6 Months Ended
Jun. 30, 2024
Stockholders’ Equity (Deficit) [Abstract]  
Stockholders’ equity

7. Stockholders’ equity

 

Warrants

 

As of June 30, 2024, the following table summarizes the status of our outstanding and exercisable warrants and related transactions since December 31, 2023 (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, 2024   99   $66.61   $
  —
    6.5 
Expired   (2)   281.50    
—
    
—
 
As of June 30, 2024   97   $63.33   $
—
    6.1 

 

Share-based compensation payment plans

 

As of June 30, 2024, 106,799 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 June 30, 2024, 403,369 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 since December 31, 2023 (in thousands, except weighted 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, 2024   72   $258.55    
—
    3.0    73   $258.46    
—
    3.0 
Expired   (9)   217.57    —    —    —    —    —    — 
As of June 30, 2024   63   $264.14    
—
    2.9    64   $264.02    
—
    2.9 

 

The following table summarizes the status of our RSUs and related transactions since December 31, 2023 (in thousands, except weighted average grant date fair value):

 

   RSUs awards outstanding 
   RSUs   Weighted
Average
Grant Date
Fair Value		   Aggregate
Intrinsic
Value		 
As of January 1, 2024   40   $9.67    89.60 
Vested   (2)   23.42    
—
 
As of June 30, 2024   38   $9.01   $60.73 

 

The following table summarizes the status of our PSUs and related transactions since December 31, 2023 (in thousands, except weighted average grant date fair value):

 

   Outstanding 
   PSUs (1)   Weighted
Average
Grant Date
Fair Value		   Aggregate
Intrinsic
Value		 
Unvested, as of January 1, 2024   14   $50.87   $32.57 
Vested   (7)   60.50    16.16 
Cancelled/Forfeited   (2)   58.68    
—
 
Unvested, as of June 30, 2024   5   $34.50   $8.37 

 

(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 $96 thousand and $437 thousand for the three months ended June 30, 2024 and 2023, respectively, and $207 thousand and $919 thousand for the six months ended June 30, 2024 and 2023, respectively.

 

As of June 30, 2024, we had $81 thousand 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 of $81 thousand is expected to be recognized as share-based payment award compensation over a weighted average period of 0.7 years.