TherapeuticsMD (NASDAQ:TXMD) stock is up on Friday after announcing approval for one of its treatments in two parts of Europe.
Bijuve is the treatment behind today’s news. It’s an oral HRT compound designed for women suffering from “moderate to severe vasomotor symptoms” during menopause. The approval allows it to be sold in the United Kingdom as well as Belgium.
Bijuve is a hormone replacement therapy that makes use of bio-identical hormones. These are hormones that are structurally identical to those made naturally by the body. It is the only oral combined HRT with bio-identical hormones.
TherapeuticsMD signed a licensing agreement with Theramex in 2019 that allows it to bring the treatment to Europe. This agreement covers all areas outside of the U.S., Canada, and Israel.
As part of this agreement, Theramex will pay TherapeuticsMD a milestone fee now that it has approval for use in parts of Europe. TherapeuticsMD is also able to get fees from sales milstones, as well as royalties from sales of Bijuve.
Robert Stewart, CEO of Thermex, said this about the new boosting TXMD stock up today.
“We are excited to bring this first and only combination of micronized progesterone and estradiol to the UK and Belgium through our license agreement with TherapeuticsMD.”
TXMD stock is seeing heavy trading on today’s news. As of this writing, more than 15.8 million shares of the stock have changed hands. For comparison, the stock’s daily average trading volume is roughly 15.2 million shares.
TXMD stock was up 1.9% as of Friday morning and is up 8.5% since the start of the year.
There are loads of other stocks on the rise Friday as the trading week comes to a close.
That includes companies across various industries, such as streaming, mining, and apparel. Examples include fuboTV (NYSE:FUBO), Santo Mining (OTCMKTS:SANP), and Naked Brand (NASDAQ:NAKD). Those who want to know why these stocks are up today can check out the following content from InvestorPlace.com below.
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- NAKD Stock: The Big Reason Naked Brand Is Soaring Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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