DALLAS - Mangoceuticals, Inc. (NASDAQ: MGRX), a developer of men’s health and wellness products, has received a Notice of Acceptance for an Australian patent related to its preventive care technology. The patent, which will be officially published in the Australian Official Journal of Patents on June 6, 2024, covers formulations and methods for combating infections, including colds, respiratory diseases, and HPV.
The acceptance in Australia follows the company's recent patent allowance in Japan and is part of a broader strategy to protect and commercialize its technology globally. The patented technology involves an orally available solution, which could be delivered through products like toothpaste and mouthwash, and features a unique combination of ingredients designed to inhibit pathogens.
Jacob Cohen, Co-Founder and CEO of MangoRx, stated that this development is a critical step in their global expansion and reinforces their commitment to providing advanced preventive care solutions. The patent further strengthens the company's intellectual property portfolio and sets the stage for the introduction of its products to the Australian market.
The anticipated official patent deed is expected to be issued around September 6, 2024, pending any opposition within three months from the acceptance advertisement. This would add to MangoRx’s existing collection of U.S. and international patents, supporting its aim to become a leader in the preventive health sector.
MangoRx operates through a telemedicine platform, offering products for erectile dysfunction, hair growth, and hormone replacement therapies. Prescriptions are reviewed by physicians and, if approved, are fulfilled and shipped discreetly to patients.
The information in this article is based on a press release statement from Mangoceuticals, Inc.
In other recent news, Mangoceuticals, also known as MangoRx, secured a patent in Japan for its preventive care technology, following the acquisition of a global patent portfolio from Intramont Technologies. The patent covers formulations and application methods aimed at preventing orally transmitted infections. Concurrently, MangoRx has launched its erectile dysfunction product, Mango ED oral dissolvable tablets, in Latin America, targeting the Mexican market initially.
Further expanding its product range, MangoRx introduced two new oral weight management drugs, Slim and Trim, expected to offer a convenient alternative for weight loss treatment. These products will be available through its telemedicine platform starting in the early third quarter.
Moreover, the company received a 180-day extension from Nasdaq to meet the minimum bid price requirement, and is considering a reverse stock split to address this issue.
In a strategic move to tap into the nutraceutical product space, MangoRx acquired a patent portfolio from Intramont Technologies, focusing on oral health solutions. The company paid Intramont $20 million for the patents, comprising preferred shares and cash. These are the recent developments from MangoRx as it continues to innovate and expand in the health and wellness sector.
InvestingPro Insights
In the wake of Mangoceuticals, Inc.'s (NASDAQ: MGRX) recent patent acceptance in Australia, investors may be eyeing the financial health and market performance of the company with increased interest.
According to InvestingPro data, MangoRx has a market capitalization of just under $10 million USD. Despite a striking revenue growth of over 670% in the last twelve months as of Q1 2024, the company's operating income margin remains deeply negative at -1070.51%, reflecting significant operational costs relative to its income.
InvestingPro Tips highlight that MangoRx boasts impressive gross profit margins, which currently stand at 61.75%. This indicates that the company is effective at controlling the cost of goods sold and could potentially leverage this as it scales up operations. Still, a note of caution is warranted as the company is also quickly burning through cash, which may raise concerns about its financial sustainability in the short term.
For investors intrigued by the prospects of MangoRx and looking to delve deeper into the company's financials and market performance, there are an additional 12 InvestingPro Tips available at https://www.investing.com/pro/MGRX. These tips provide a comprehensive analysis that could guide investment decisions, especially in a company that operates with a moderate level of debt and has not been profitable over the last twelve months.
To access these insights and more, remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. With the recent patent news potentially impacting MangoRx's market position, staying informed with real-time data and expert analysis could be more important than ever for stakeholders and interested investors.
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