DALLAS - Mangoceuticals, Inc. (NASDAQ: MGRX), known as MangoRx, a developer and marketer of men’s health and wellness products, announced the acquisition of a global patent portfolio from Intramont Technologies, Inc. This acquisition marks the company's expansion into the nutraceutical product space, with a focus on oral health solutions.
The patent portfolio includes a range of products such as toothpaste, oral dissolvable tablets, lozenges, and mouthwash, designed to prevent illnesses transmitted via the oral cavity and pharynx. The patented formulation features a proprietary blend that includes GALALCOOL®, zinc protoporphyrin IX, and select tannins, which are believed to work together to inhibit various pathogens.
Jacob Cohen, MangoRx's Co-Founder and CEO, expressed enthusiasm over the integration of this new technology into their product lineup, emphasizing the company's commitment to innovative health solutions and its strategy to enter non-prescription based products market.
MangoRx's acquisition is strategically timed to tap into the growing global toothpaste market, which is projected to reach $25.71 billion by 2030 with a 4.7% CAGR according to a market study by Fortune Business Insights. The World Health Organization reports that nearly 3.5 billion people suffer from oral diseases, highlighting the need for such preventive care products.
Under the terms of the Patent Purchase Agreement (PPA), MangoRx agreed to pay Intramont $20 million for the patent portfolio, comprising 980,000 shares of MangoRx's 6% Series C Convertible Preferred shares and $400,000 in cash over seven months.
Jim Intrater, CEO of Intramont, commended MangoRx's sales and marketing expertise and expressed confidence in the company's ability to bring the patented product to the market effectively.
MangoRx, primarily known for its men's wellness telemedicine services, including erectile dysfunction, hair growth, and hormone replacement therapies, is poised to leverage its platform to commercialize the newly acquired technology. The company aims to create value for shareholders while addressing significant market needs.
This news is based on a press release statement from Mangoceuticals, Inc.
InvestingPro Insights
Mangoceuticals, Inc. (NASDAQ: MGRX), while taking a significant step forward with its latest acquisition, presents a mixed financial picture according to the latest data from InvestingPro. With a market capitalization of $6.43 million, the company is a relatively small player, but it boasts impressive gross profit margins of nearly 59% as of the last twelve months ending Q4 2023. This demonstrates MangoRx's ability to maintain profitability in the products it sells, which could bode well for the integration of its newly acquired oral health technologies.
The company's stock price volatility is also noteworthy, with a high price/book multiple of 8.3, reflecting a premium that investors are willing to pay for its book value. However, the stock has experienced a significant hit, with a one-week price total return of -10.57%, which may raise concerns among investors regarding short-term stability. Despite these challenges, MangoRx holds more cash than debt on its balance sheet, suggesting a degree of financial resilience.
For investors seeking a deeper dive into MangoRx's financials and potential, there are 16 additional InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/MGRX. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of data and insights to guide investment decisions.
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