This morning the TherapeuticsMD Inc (NASDAQ: TXMD) stock is almost certain to come into focus among investors considering the fact that this past Friday it had clocked gains of as much as 36%. The rally in the stock on Friday came about after the company made a major announcement with regards to its product ANNOVERA.
Trading Data
On Friday, TXMD stock surged 36.56% to $3.10 with more than 22.13 million shares, compared to its average volume of 643K shares. The stock moved within a range of $2.2500 – 3.3500 after opening trading at $2.2620.
Latest News
The women’s healthcare focussed company announced that the supplemental new drug application for ANNOVERA had been approved by the United States Food and Drug Administration. It goes without saying that it was a major new development for the company and one that had been welcomed wholeheartedly by investors.
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In this regard, it ought to be noted that the application also provided some minute revisions to the in vitro testing specifications with regards to ANNOVERA. TherapeuticsMD announced yesterday that after the granting of the approval from the FDA it would not be able to put in as many as 7000 extra rings into the supply chain. Those would be made available to customers at some point in the second and third fiscal quarters of 2022. At this point in time, investors could do well to keep an eye on further developments before making a decision with regard to the stock.
Key Quote:
“Today’s approval is an important milestone as it will allow us to more efficiently scale, manufacture, and consistently supply ANNOVERA to meet the increasing demand by women who want procedure-free, long-lasting reversible birth control.”
Technical Data
TXMD stock is trading below the 20-Day and 50-Day Moving averages of $6.23 and $12.93 respectively. Moreover, the stock is trading below the 200-Day moving average of $23.93.
