Mangoceuticals, Inc. - MGRX STOCK NEWS

Mangoceuticals (NASDAQ: MGRX) has initiated an investigation into potential stock manipulation following its October 16, 2024 reverse stock split. The company identified suspicious trading patterns and an unusual surge in shareholder accounts. The Depository Trust Company (DTC) requested 213,327 additional shares for fractional share 'round-up', representing about 9% of MangoRx's 2.4 million post-split outstanding shares.

Prior to the split, MangoRx had approximately 5,000 shareholders, but trading patterns suggest a potential increase of over 200,000 accounts post-split. The company observed numerous high-frequency single-share transactions around the split date. CEO Jacob Cohen has denied DTC's request pending investigation completion. MangoRx notes similar patterns to those reported by Upexi Inc. (NASDAQ:UPXI), which experienced comparable irregularities in their recent reverse stock split.

Mangoceuticals (NASDAQ: MGRX) has regained full compliance with Nasdaq's minimum bid price requirement. The company received confirmation from Nasdaq on October 30, 2024, stating that its common stock maintained a closing bid price at or above $1.00 per share for 10 consecutive business days, meeting the requirements of Nasdaq Listing Rule 5550(a)(2). With this compliance achievement, the listing matter is now closed.

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.