The SEC is serious about Wall Street whispering

If you’re a public company, you can’t play favorites with big news. And according to the SEC, TherapeuticsMD did exactly that on the subject of an all-important meeting with the FDA.

Back in 2017, the company met with the agency to discuss the future of its once-rejected estrogen therapy for postmenopausal women. A day later, one company executive sent an email to Wall Street analysts claiming the sit-down was “very positive and productive,” according to the SEC.

The problem is that TherapeuticsMD didn’t put out a press release or host a conference call to tell the public this apparently positive news, whispers of which sent the stock up nearly 20%. And now the company is paying $200,000 to settle SEC charges that it broke the rules.

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