Mangoceuticals (NASDAQ: MGRX) saw an early retreat in trading on Wednesday, following a doubling in value on Tuesday. This volatility came after a health and wellness company introduced new oral weight management medications.
Mangoceuticals (MGRX) recently launched two new oral drugs, Slim and Trim, to help weight management. These drugs are oral versions of the injectable medications Semaglutide and Tirzepatide, respectively, offering a more convenient alternative for weight loss treatment.
Clinical trials have demonstrated significant weight loss results with Semaglutide and Tirzepatide, part of the glucagon-like peptide-1 (GLP-1) receptor agonists class. Studies have shown that patients using Semaglutide lost an average of 15.2% of their body weight over a year, while those using Tirzepatide lost 15.7%. The oral formulations of these drugs are designed for daily use, which may increase patient adherence due to the preference for pills over injections.
Industry observers expect the market for GLP-1 receptor agonists to experience significant growth, projecting revenues to exceed $164 billion by 2032, compared to $37.9 billion in 2023.
Jacob Cohen, CEO and Co-Founder of MangoRx, expressed enthusiasm about the launch of Slim and Trim. He emphasized the company’s commitment to providing patients with convenient and effective solutions for weight management, aiming to improve overall health outcomes for millions worldwide.
MangoRx intends to offer these products via its telemedicine platform starting in the early third quarter, with pricing set at $299 for Slim and $399 per month for Trim.
Mangoceuticals (NASDAQ: MGRX) Stock Price Action
As of 10:40 a.m. (Eastern Time) Wednesday, MGRX stock traded at $0.39, marking a 24.31% decrease compared to the previous trading session.
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