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Adam Eckert

Why TherapeuticsMD Shares Are Soaring Today

TherapeuticsMD Inc (NASDAQ:TXMD) is trading higher Monday after the company announced it would sell its prescription services business, vitaCare, to GoodRx Holdings Inc (NASDAQ:GDRX).

Under terms of the agreement, TherapeuticsMD will receive $150 million in cash with up to an additional $7 million in cash consideration contingent upon vitaCare’s financial performance through 2023. The transaction is expected to close in the second quarter.

TherapeuticsMD also entered into a long-term services agreement with vitaCare to continue to utilize the vitaCare platform. 

TherapeuticsMD is a major drug manufacturer with a focus on creating and commercializing products exclusively for women.

See Also: Why Occidental Petroleum Shares Are Rising Today

TXMD 52-Week Range: $0.18 - $1.70

TherapeuticsMD shares were up 57.2% at 32 cents at time of publication.

Photo: stevepb from Pixabay.

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