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DALLAS - Mangoceuticals, Inc. (NASDAQ: MGRX), a small-cap biotechnology company with a market capitalization of $18.65 million and impressive gross profit margins of 57.65%, has announced results from field studies suggesting its antiviral compound MGX-0024 could be effective in preventing respiratory diseases in poultry. According to InvestingPro analysis, while the company maintains strong margins, it faces profitability challenges with negative earnings in the last twelve months. The studies, conducted at Duraiswamy Farm in Palladam, Tamil Nadu, India, showed that chickens treated with MGX-0024 experienced significantly lower mortality rates compared to untreated controls.
The first study involved 8,000 chickens starting at 25 days old, receiving MGX-0024-infused water, resulting in approximately 50 deaths per day from respiratory diseases, while a neighboring untreated farm reported 200 deaths per day. The second study with 10,000 chicks treated from 7 days old for 48 days recorded no deaths from respiratory diseases, with only 20 deaths from unrelated causes, against an expected 50% mortality rate.
MGX-0024 is a blend of natural polyphenols and zinc and is recognized as Generally Recognized as Safe (GRAS) ingredients. It is also being evaluated for its potential to prevent avian flu (H5N1) in collaboration with Vipragen Biosciences and an Indian government laboratory, with results anticipated soon.
The company’s CEO, Jacob Cohen, believes that MGX-0024 offers a vaccine- and antibiotic-free method to protect poultry, aligning with global antibiotic restrictions. Mangoceuticals is proceeding to scale up production and has initiated outreach to large-scale farms in the US, UK, Canada, and Australia for pilot deployments, as well as engaging regulatory authorities for approvals. With current revenue of $0.51 million, successful commercialization could significantly impact the company’s financial performance. InvestingPro subscribers can access 12 additional key insights about MGRX’s growth potential and financial health metrics to make informed investment decisions.
Additional field studies are planned in Indian states with known H5N1 presence to further substantiate the efficacy of MGX-0024. The company is also seeking US federal funding to support the global rollout and to meet the demand for antibiotic-free poultry, which could lead to revenue through partnerships, sales, and licensing agreements.
However, it should be noted that the data from the field studies are preliminary and subject to further validation through independent studies. The company cautions investors and stakeholders not to place undue reliance on these preliminary results. With the stock currently trading at $1.69 and showing high price volatility according to InvestingPro analysis, investors should carefully consider the company’s development timeline and financial position before making investment decisions.
The information in this article is based on a press release statement from Mangoceuticals, Inc.
In other recent news, Mangoceuticals Inc. has made significant strides with the acquisition of Smokeless Technology Corp.’s intellectual property, focusing on stimulant and functional oral pouches. This acquisition aligns with Mangoceuticals’ strategy to expand its product lines and venture into the growing oral pouch market, which is projected to see substantial growth globally. Additionally, Mangoceuticals has converted Series B Convertible Preferred Stock into common shares, issuing a total of 287,467 new common shares through several transactions. These conversions reflect the company’s capital structure strategy and could influence the company’s share structure and ownership distribution.
The company also announced changes to its equity securities and executive compensation arrangements, including an amendment to the Certificate of Designations for the Series B Convertible Preferred Stock. This amendment adjusts the conversion price and modifies certain rights, potentially impacting current security holders. Furthermore, shareholders ratified the Second Amendment to the 2022 Equity Incentive Plan, which features an "evergreen" provision for share awards. This plan could enhance the company’s ability to attract and retain key personnel. These developments collectively illustrate Mangoceuticals’ ongoing efforts to solidify its position in the health and wellness sector.
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