Formulations to be marketed as “Slim” and “Trim” as an Oral Dissolvable Tablet (ODT)
Dallas, TX, May 21, 2024 (GLOBE NEWSWIRE) — Mangoceuticals, Inc. (NASDAQ: MGRX) (“MangoRx” or the “Company”), a company focused on developing, marketing, and selling a variety of men’s health and wellness products in the area of erectile dysfunction (ED), hair growth and hormone replacement therapies is excited to announce the development of proprietary oral formulations of Semaglutide (“Slim”) and Tirzepatide (“Trim”) to aid in weight management. These innovative drugs, currently available predominantly in injectable form, have demonstrated remarkable efficacy in clinical trials. MangoRx’s new oral formulations are poised to revolutionize the weight loss market and capture significant market share.
The GLP-1 receptor agonists’ market, including both Semaglutide and Tirzepatide, is projected to reach over $164 billion in combined revenue by 2032, based on Visible Alpha consensus, ramping up from $37.9 billion in 2023. These are record-breaking revenues for any drug class in the history of drug development.
The oral formulations of Semaglutide and Tirzepatide are set to capture a significant share of this market, offering a convenient alternative to injections. Semaglutide, marketed under the brand names Ozempic® and Wegovy®, and Tirzepatide, marketed as Mounjaro® and Zepbound®, are both glucagon-like peptide-1 (GLP-1) receptor agonists. These drugs have demonstrated impressive weight loss results in clinical trials. In a recent study, patients taking Semaglutide achieved an average weight loss of 15.2% over one year, while those taking Tirzepatide experienced an average weight loss of 15.7%. The oral formulations of Semaglutide and Tirzepatide are designed for daily consumption and are expected to provide similar weight loss benefits without the need for regular injections.
Patient preference studies consistently show a significant majority in favor of oral medications over injectables. This preference is anticipated to drive higher adoption rates and expand the existing market. The shift to an oral formulation offers a more accessible and convenient option for patients, potentially increasing adherence and overall treatment success.
“We are thrilled to introduce ‘Slim’ and ‘Trim’, MangoRx’s oral formulations of Semaglutide and Tirzepatide, to the weight loss market,” said Jacob Cohen, CEO and Co-Founder 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.”
MangoRx plans to have the products available for customers on the company’s telemedicine platform in the beginning of the 3rd quarter with ‘Slim’ and ‘Trim’ competitively priced at $299/month and $399/month, respectively. MangoRx is committed to advancing the treatment of obesity and related conditions and is dedicated to improving the lives of patients worldwide.
About MangoRx
MangoRx is focused on developing a variety of men’s health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men’s wellness telemedicine services and products as a growing sector and especially related to the area of erectile dysfunction (ED), hair growth and hormone replacement therapies. Interested consumers can use MangoRx’s telemedicine platform for a smooth experience. Prescription requests will be reviewed by a physician and, if approved, fulfilled and discreetly shipped through MangoRx’s partner compounding pharmacy and right to the patient’s doorstep. To learn more about MangoRx’s mission and other products, please visit www.MangoRx.com or on social media @Mango.Rx.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). These forward-looking statements represent the Company’s current expectations or beliefs concerning future events and can generally be identified using statements that include words such as “estimate,” “expects,” “project,” “believe,” “anticipate,” “intend,” “plan,” “foresee,” “forecast,” “likely,” “will,” “target” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, our ability to meet Nasdaq’s minimum bid price requirement; the Company’s stockholders’ equity as of the Company’s next fiscal quarter end; our ability to maintain the listing of our common stock on Nasdaq; our ability to commercialize our patent portfolio; our ability to obtain Comisión Federal para la Protección contra Riesgos Sanitarios for our ED product in Mexico, the costs thereof and timing associated therewith; our ability to obtain additional funding and generate revenues to support our operations; risks associated with our ED product which have not been, and will not be, approved by the U.S. Food and Drug Administration (“FDA”) and have not had the benefit of the FDA’s clinical trial protocol which seeks to prevent the possibility of serious patient injury and death; risks that the FDA may determine that the compounding of our planned products does not fall within the exemption from the Federal Food, Drug, and Cosmetic Act (“FFDCA Act”) provided by Section 503A; risks associated with related party relationships and agreements; the effect of data security breaches, malicious code and/or hackers; competition and our ability to create a well-known brand name; changes in consumer tastes and preferences; material changes and/or terminations of our relationships with key parties; significant product returns from customers, product liability, recalls and litigation associated with tainted products or products found to cause health issues; our ability to innovate, expand our offerings and compete against competitors which may have greater resources; our significant reliance on related party transactions; the projected size of the potential market for our technologies and products; risks related to the fact that our Chairman and Chief Executive Officer, Jacob D. Cohen has significant voting control over the Company; risks related to the significant number of shares in the public float, our share volume, the effect of sales of a significant number of shares in the marketplace, and the fact that the majority of our shareholders paid less for their shares than the public offering price of our common stock in our recent initial public offering; dilution caused by recent offerings; conversion of outstanding shares of preferred stock and the rights and preferences thereof, the fact that we have a significant number of outstanding warrants to purchase shares of common stock at $1.00 per share, the resale of which underlying shares have been registered under the Securities Act of 1933, as amended; our ability to build and maintain our brand; cybersecurity, information systems and fraud risks and problems with our websites; changes in, and our compliance with, rules and regulations affecting our operations, sales, marketing and/or our products; shipping, production or manufacturing delays; regulations we are required to comply with in connection with our operations, manufacturing, labeling and shipping; our dependency on third-parties to prescribe and compound our ED product; our ability to establish or maintain relations and/or relationships with third-parties; potential safety risks associated with our Mango ED product, including the use of ingredients, combination of such ingredients and the dosages thereof; the effects of changing rates of inflation and interest rates, and economic downturns, including potential recessions, as well as macroeconomic, geopolitical, health and industry trends, pandemics, acts of war (including the ongoing Ukraine/Russian conflict and war in Israel) and other large-scale crises; our ability to protect intellectual property rights; our ability to attract and retain key personnel to manage our business effectively; overhang which may reduce the value of our common stock; volatility in the trading price of our common stock; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties.
More information on potential factors that could affect the Company’s financial results is included from time to time in the “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2024. These filings are available at www.sec.gov and at our website at https://www.mangoceuticals.com/sec-filings. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
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FOR INVESTOR RELATIONS
Mangoceuticals Investor Relations
Email: [email protected]
SOURCE: Mangoceuticals Inc.
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