DALLAS - Mangoceuticals, Inc. (NASDAQ: MGRX), a health and wellness company specializing in men's health products, today announced the introduction of two new oral drugs, Slim and Trim, aimed at aiding weight management. These drugs, oral versions of the injectable Semaglutide and Tirzepatide, are expected to offer a more convenient alternative for weight loss treatment.
Clinical trials have shown that both Semaglutide and Tirzepatide, belonging to the class of glucagon-like peptide-1 (GLP-1) receptor agonists, can lead to significant weight loss. A study indicated that patients on Semaglutide lost an average of 15.2% of their body weight over a year, while Tirzepatide users lost 15.7%. The oral formulations are designed for daily use, potentially increasing patient adherence due to the preference for pills over injections.
The GLP-1 receptor agonists' market is expected to soar, with projections of over $164 billion in revenue by 2032, up from $37.9 billion in 2023.
MangoRx's CEO, Jacob Cohen, expressed enthusiasm about the potential impact of Slim and Trim on the weight loss market and patients' health worldwide.
MangoRx plans to make these products available through its telemedicine platform starting in early third quarter, with prices set at $299 per month for Slim and $399 per month for Trim.
MangoRx operates in the growing sector of men's wellness, focusing on erectile dysfunction, hair growth, and hormone replacement therapies. The company aims to provide accessible health solutions through its secure telemedicine platform.
This announcement is based on a press release statement.
InvestingPro Insights
As Mangoceuticals, Inc. (NASDAQ: MGRX) ventures into the weight management market with its new oral drugs Slim and Trim, investors and potential stakeholders may find the following metrics and tips from InvestingPro valuable for assessing the company's financial health and stock performance.
InvestingPro Data highlights a staggering 670.43% revenue growth for the last twelve months as of Q1 2024, signaling a robust expansion phase for the company. This is coupled with an impressive gross profit margin of 61.75%, indicative of strong operational efficiency in generating earnings. Nevertheless, the company's P/E Ratio (Adjusted) stands at -0.67, reflecting current challenges in profitability.
From the InvestingPro Tips, it's notable that Mangoceuticals has experienced a significant return over the last week, with a 15.47% price total return. This could be indicative of market optimism surrounding the launch of its new products. However, it's crucial to consider that the stock has been characterized by high price volatility, which may be a point of caution for risk-averse investors.
To further understand the financial and stock performance nuances of Mangoceuticals, investors can find additional InvestingPro Tips, such as the company's cash burn rate and its short-term obligations compared to liquid assets. For those looking to delve deeper into MGRX's financials and stock analysis, there are 14 more InvestingPro Tips available at https://www.investing.com/pro/MGRX. Moreover, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their investment research with premium insights.
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