Fubotv earnings beat by $0.10, revenue topped estimates
DALLAS - Mangoceuticals Inc. (NASDAQ: MGRX), a telemedicine-focused health and wellness company with a current market capitalization of $13.12 million, announced today its acquisition of all intellectual property and related assets from Smokeless Technology Corp., a Canadian firm specializing in stimulant and functional oral pouches. The move is part of Mangoceuticals’ strategic venture into the oral pouch delivery market, which is rapidly growing within the consumer wellness and alternative nicotine sectors.
The acquisition aims to complement Mangoceuticals’ existing product lines under the MangoRx and PeachesRx brands with new non-pharmaceutical and nutraceutical offerings. The company plans to integrate Smokeless Tech’s stimulant formulations with pharmaceutical ingredients for distribution under their established brands.
Jacob Cohen, Founder and CEO of Mangoceuticals, expressed that the acquisition is poised to accelerate the company’s growth trajectory by tapping into a disruptive market category. A recent Skyquest study reported the U.S. nicotine pouch market at $3.13 billion in 2024, with projections for the global oral pouch market to surpass $37.34 billion by 2032. InvestingPro analysis indicates the stock has shown significant price volatility, with the share price currently at $2.10, trading between its 52-week range of $1.49 to $16.80.
In conjunction with the acquisition, Mangoceuticals has bolstered its management team by engaging Tim Corkum, a Consumer Packaged Goods (CPG) veteran and former President of JUUL Labs Canada. Corkum’s expertise is expected to drive the development of new products and assist with the integration of Smokeless Tech’s formulations.
The company’s strategic growth plan also includes leveraging its distribution network, compounding pharmacy relationships, and an upcoming product launch. These initiatives are anticipated to establish Mangoceuticals as a significant player in the nutraceutical space with diverse delivery methods.
ArcStone Securities and Investments Corp. served as the exclusive financial advisor for the transaction.
Mangoceuticals, known for developing men’s and women’s health and wellness products, operates secure telemedicine platforms MangoRx and PeachesRx, offering services such as erectile dysfunction treatment, hair growth, hormone replacement therapies, and weight management.
This expansion into the nutraceutical pouch delivery market represents a continuation of Mangoceuticals’ mission to innovate within the health and wellness industry. The information in this report is based on a press release statement. For deeper insights into MGRX’s financial health and growth prospects, including additional ProTips and detailed metrics, investors can access comprehensive analysis through InvestingPro.
In other recent news, Mangoceuticals, Inc. has been active with several significant corporate actions. The company announced the conversion of its Series B Convertible Preferred Stock into common shares, resulting in the issuance of 287,467 new common shares. This conversion was part of a broader strategy to adjust its capital structure. In another development, Mangoceuticals entered into a consulting agreement with 6330 Investment & Consulting Gmbh, issuing 200,000 shares of restricted common stock as compensation for their services in identifying strategic partners and acquisition opportunities. Additionally, the company has been advancing its research into avian influenza prevention in partnership with Vipragen Biosciences. Phase I animal studies have shown promising results, and the company is now conducting Phase II studies on its water-based antiviral solution. Mangoceuticals also announced changes to its equity securities and executive compensation arrangements following a special shareholder meeting. These changes include an amendment to the conversion price of its preferred stock and adjustments to its 2022 Equity Incentive Plan.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.