Mangoceuticals (NASDAQ:MGRX) stock climbed up a staggering 130% at one point today after the company announced that its new oral formulations of its Semaglutide (“Slim”) and Tirzepatide (“Trim”) treatments have proven notably effective in clinical trials.
What does this mean for MGRX stock?
Well, if today’s jump is any indicator, it could be a very good thing for the health and wellness company. Indeed, Mangoceutical’s Slim and Trim drugs, currently available primarily as injectable treatments, are expected to contribute more than $164 billion in revenue by 2032, up substantially from $37.9 billion in 2023.
According to the new clinical trial results, the oral version of Semaglutide, known under brand names Ozempic and Wegovy, achieved 15.2% average weight loss for patients after one year. Over the same period, those who took oral Tirzepatide, marketed as Mounjara and Zepbound, experienced average weight loss of 15.7%.
The oral drugs are designed to be taken daily and offer similar weight-loss results as the injectable formulations, without the painful prick.
“We are thrilled to introduce ‘Slim’ and ‘Trim’, MangoRx’s oral formulations of Semaglutide and Tirzepatide, to the weight loss market,” said Jacob Cohen, co-founder and CEO of MangoRx. “Our goal is to provide patients with a convenient and effective way to manage their weight and improve their overall health. We believe that these oral formulations have the potential to significantly impact the lives of millions of people worldwide.”
The company is eyeing an early third-quarter launch date for its Slim and Trim drugs, which will be priced competitively at $299 per month and $399 per month, respectively.
MGRX Stock Soars Ahead of Launch of ‘Slim’ and ‘Trim’ Oral Weight-Loss Treatment
For fans of MGRX stock, today’s news may come as blessing for a security on the verge of failing to meet Nasdaq’s minimum bid price. Indeed, MGRX is currently trading at 52 cents per share, below the exchange’s $1 minimum price.
As a result, the company may opt to perform a reverse stock split to avoid delisting. This would see the number of shares of the company reduced, artificially raising the firm’s share price.
Today’s jump has catapulted MGRX stock into the green for the year, where it was previously slightly down from the start of 2024. Whether it will keep this momentum heading into the second half of the year remains to be seen.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
