The TherapeuticsMD roller coaster ride continues. 

One week after announcing it would be licensing its hormone therapy and contraceptive products to Mayne Pharma for $153 million, TherapeuticsMD said Friday it plans to slash its entire workforce of 212 people.

The layoffs include 79 employees at its Boca Raton, Florida headquarters, and involve the executive team’s co-CEOs.

The staff cuts are set to be completed between December 6 and 23, according to a notice filed in Florida by company general counsel Marlan D. Walker. As part of the planned layoffs, any employees that don’t resign before December 23 will receive pay in lieu of notice equivalent to salary and reimbursement of the employer portion of COBRA premiums for 60 days. 

The women’s health care company developed products like birth control ring Annovera as well as the estradiol and progesterone combo Bijuva. 

In the deal with Mayne Pharma announced earlier this week, TherapeuticsMD will receive a cash payment of $140 million for the license grant and $13.1 million for acquired net working capital, according to a press release. The company will also give Mayne Pharma licenses to Imvexxy, Bijuva and its prescription prenatal vitamin products, BocaGreenMD and vitaMedMD.

“After completing a thorough evaluation of several strategic alternatives, our board of directors concluded that this transaction with Mayne Pharma would create the most value for TherapeuticsMD’s stakeholders,” Tommy Thompson, executive chairman of the company, said in a statement.

Thompson noted the deal would also allow the company to repay its debt to Sixth Street Partners.

The deal with Mayne Pharma and subsequent layoffs followed earlier attempts this summer to be acquired by Athene Merger. That deal was set at $177 million, but it didn’t end up coming to fruition.

TherapeuticsMD is not the only healthcare company cutting down its workforce heading into the end of 2022.

Earlier this week, MEI Pharma announced that it will lay off 30% of its workforce linked to the development of its PI3K inhibitor, zandelisib, which was shelved across all sites except Japan. 

MEI announced it would be making a strategic realignment to put its focus on other cancer therapies voruciclib and ME-344.