DALLAS - Mangoceuticals, Inc. (NASDAQ: MGRX), known as MangoRx, a developer of men's health and wellness products, has been granted a Notice of Allowance in Japan for a patent relating to its preventive care technology.
This announcement comes after the company's recent acquisition of a global patent portfolio from Intramont Technologies, Inc., which includes the Japanese Patent Application No. 2021-545824.
On April 24, 2024, MangoRx expanded its intellectual property holdings with the acquisition of the US patent (Patent 11,517,523) from Intramont. The newly allowed Japanese patent encompasses proprietary formulations and application methods aimed at preventing infections transmitted orally, including the common cold, respiratory diseases, and human papillomavirus (HPV).
The patented technology involves an orally available solution such as toothpaste, oral dissolvable tablets, lozenges, or mouthwash, featuring a unique blend of GALALCOOL®, zinc protoporphyrin IX, and select tannins. These components are designed to work together to inhibit a variety of pathogens, offering protection against oral and respiratory infections.
Jacob Cohen, Co-Founder and CEO of MangoRx, expressed his optimism about the company's strategic progress, stating, "Receiving this Notice of Allowance in Japan is a critical step in our global strategy to protect and commercialize our innovative preventive care technology."
MangoRx's portfolio now includes a series of U.S. and international patents, solidifying its position in the preventive health sector. The company aims to introduce its products to the Japanese market, leveraging the protection granted by the patent.
MangoRx operates a telemedicine platform, offering services related to erectile dysfunction, hair growth, weight loss, and hormone replacement therapies. Prescriptions are reviewed by physicians and, if approved, fulfilled by the company's partner compounding pharmacy and delivered discreetly to patients' homes.
This news is based on a press release statement.
InvestingPro Insights
As Mangoceuticals, Inc. (MangoRx) continues to expand its patent portfolio and prepares to enter the Japanese market, investors are closely monitoring the company's financial health and stock performance. According to the latest data from InvestingPro, MangoRx boasts a gross profit margin of 61.75% for the last twelve months as of Q1 2024. This impressive margin underscores the company's ability to maintain profitability in its core operations, even as it navigates the costly process of acquiring patents and investing in R&D.
Despite these positive gross profit figures, MangoRx is facing some financial headwinds. The company's operating income margin stands at -1070.51%, indicating that operating expenses significantly exceed its gross profit, a common challenge for firms aggressively investing in growth and innovation. Additionally, MangoRx's price at the previous close was $0.35, which reflects the stock's high volatility and the impact of recent market fluctuations, including a 20.45% drop in total return over the last week.
For investors considering a stake in MangoRx, there are valuable InvestingPro Tips to consider. The company's stock has experienced a big hit over the last week and generally trades with high price volatility. These insights could be crucial for those looking to make informed decisions about their investments in the healthcare sector. For a more comprehensive analysis, there are additional tips available on InvestingPro, including insights on cash burn and short-term obligations compared to liquid assets. Interested investors can visit https://www.investing.com/pro/MGRX for further details and can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a total of 14 InvestingPro Tips that could help navigate the complexities of investing in MangoRx.
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