Mangoceuticals, Inc. - MGRX STOCK NEWS

MangoRx (NASDAQ: MGRX), a company specializing in men's health and wellness products via telemedicine, has announced the formation of a Strategy and Alternatives Committee. The company's Board of Directors has initiated a process to evaluate potential strategic alternatives aimed at maximizing shareholder value.

These alternatives may include mergers, acquisitions, divestitures, business combinations, entry into new lines of business, expansions, and joint ventures. This initiative will run parallel to MangoRx's current operations. The company plans to consult with financial and legal advisors to consider a wide range of strategic, operational, and financial options.

MangoRx has not set a timeline for completing this review process and does not intend to provide further comments unless necessary. The company emphasizes that there is no guarantee that this strategic review will result in any specific transaction or outcome.

MangoRx (NASDAQ: MGRX), a company focused on men's health and wellness products, has responded to claims made by Eli Lilly. Eli Lilly has allegedly filed a lawsuit against MangoRx, claiming that the company improperly copied its weight-loss medicines, Zepbound and Mounjaro. MangoRx strongly refutes these claims regarding the sale of compounded tirzepatide and intends to vigorously defend itself.

The company believes it has strong arguments against Eli Lilly's claims and remains committed to providing access to safe and efficacious products prescribed by U.S. licensed practitioners. MangoRx plans to continue enhancing patient care through innovative solutions while striving to comply with regulatory guidelines.

Mangoceuticals, Inc. (NASDAQ: MGRX), a company focused on developing, marketing, and selling men's health and wellness products via a secure telemedicine platform, has announced its participation in the Centurion One Capital 2nd Annual Bahamas Summit 2024. The event will take place at the Rosewood Baha Mar Hotel in Nassau, Bahamas, from October 22nd to 23rd, 2024.

Jacob Cohen, Founder and CEO of Mangoceuticals, is scheduled to present on Wednesday, October 23rd at 11:10 EDT. He will also be available to field investor questions during the summit. The event will feature presentations from public and private companies across various industries, providing opportunities to showcase their businesses to prominent investors in the growth space from Canada, the United States, and abroad.

Mangoceuticals (NASDAQ: MGRX), a company focused on men's health and wellness products, has announced a 1-for-15 reverse stock split effective October 16, 2024. This move is part of the company's plan to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share. The reverse split will reduce MGRX's outstanding common stock from approximately 35.5 million shares to 2.4 million shares. The trading symbol will remain 'MGRX'. All outstanding options and securities will be adjusted accordingly, and no fractional shares will be issued. This decision follows stockholder approval at a Special Meeting on March 25, 2024.

MangoRx (NASDAQ: MGRX) has launched TRIM, a compounded oral dissolvable Tirzepatide tablet for weight loss, priced at $399 per month. Tirzepatide, a dual GIP and GLP-1 receptor agonist, has shown significant weight loss results in clinical trials, with participants achieving 15-20% weight reduction in 72 weeks and up to 25% in 88 weeks. The TRIM formulation offers a convenient alternative to injectable therapies, aligning with the growing demand for non-invasive weight management solutions.

MangoRx's CEO, Jacob Cohen, emphasized the product's innovation and potential to meet changing patient needs. The company now offers both Tirzepatide (TRIM) and Semaglutide (SLIM) options for weight loss through its telemedicine platform. This launch positions MangoRx to capitalize on the expanding GLP-1 market, projected to grow from $49.3 billion in 2024 to $157.5 billion by 2035, with the obesity segment expected to dominate.

MangoRx (NASDAQ: MGRX) has launched its oral Semaglutide weight loss treatment, branded as 'Slim', on its website. This GLP-1 receptor agonist is formulated as an oral dissolvable tablet (ODT) compounded with Vitamin B6, offering a convenient option for weight management. The company aims to capitalize on the growing GLP-1 market, projected to reach $157.5 billion by 2035.

MangoRx is pricing 'Slim' at $299 per month, positioning it as an affordable and accessible treatment. The company believes this launch will drive revenue growth and expand its market share in the weight loss category. MangoRx's telemedicine platform is expected to provide customers with a seamless and secure experience, further enhancing its ability to serve the growing weight loss market.

MangoRx (NASDAQ: MGRX) reported significant financial growth for the first half of 2024. The company's shareholders' equity surged by 1,685% to $13.8 million, largely due to the acquisition of a global patent portfolio for respiratory illness technology. Gross revenues increased by 55.92% to $377,258, with gross profit up 50.48% to $217,190 compared to the same period in 2023.

The company, focused on men's health and wellness products, anticipates further growth in the second half of 2024. This expectation is supported by ongoing product development, market expansion efforts, and the recent launch of a DEA-approved telemedicine operating system. MangoRx is also preparing to launch new weight loss products featuring Semaglutide and Tirzepatide, as well as a hormone therapy product for low testosterone treatment.

MangoRx (NASDAQ: MGRX) has received a Certificate of Grant in India for its respiratory illness and preventive care technology patent. The patent, valid until March 16, 2040, covers a proprietary formulation designed to combat infections including colds, respiratory diseases, and orally transmitted infections like HPV. This follows MangoRx's acquisition of Intramont Technologies' global patent portfolio on April 24, 2024.

The technology uses an orally available solution containing GALALCOOL®️, zinc protoporphyrin IX, and select tannins to inhibit various pathogens. MangoRx and Intramont have initiated clinical trials in India to demonstrate the formulation's efficacy in preventing respiratory illnesses, with results expected later this quarter. The company is also considering expanding trials to address avian influenza concerns.

MangoRx (NASDAQ: MGRX) has successfully migrated to a DEA-approved telemedicine platform, marking a significant advancement in its capabilities. This new system allows MangoRx's third-party doctor network to prescribe controlled substances, including Prime by MangoRx, an Oral Testosterone Replacement Therapy. The platform has accelerated the company's timeline for introducing new product lines, particularly the Slim and Trim weight loss products featuring Semaglutide and Tirzepatide in oral dissolvable tablets.

The company expects to launch these products before the end of Q3, capitalizing on the high demand for GLP-1 weight loss treatments. MangoRx has also unveiled a redesigned website with improved UI/UX, optimized for enhanced customer workflows. The HIPAA-compliant system ensures regulatory compliance and data security, setting a new benchmark for excellence in telemedicine.