Hulk Hogan, wrestling icon, dies at 71 in Florida home
NEW YORK - Petros Pharmaceuticals, Inc. (NASDAQ:PTPI), specializing in over-the-counter (OTC) drug development, announced today its partnership with software developer Innolitics to enhance its Software-as-a-Medical Device (SaMD) platform. According to InvestingPro data, the company generated $5.1 million in revenue over the last twelve months, with a notable gross profit margin of 76%. The collaboration aims to integrate cloud-based components such as AI and cybersecurity into the company’s SaaS system, which is designed to support the transition of prescription drugs to OTC status.
The partnership with Innolitics, known for its expertise in medical device software, cybersecurity, and regulatory submissions, is expected to strengthen Petros’ platform’s commercial viability and scalability. While Petros reports a strong cash position of over $10 million, InvestingPro analysis indicates the company is quickly burning through cash, with current short-term obligations exceeding liquid assets. Subscribers to InvestingPro can access 12 additional key financial insights about PTPI’s financial health and market position.
Petros’ President and Chief Commercial Officer, Fady Boctor, expressed confidence in the progress and potential of the enterprise system, which aligns with the FDA’s Additional Conditions for Nonprescription Use (ACNU) guidelines and President Trump’s Make America Healthy Again (MAHA) initiative. The system aims to facilitate the Rx-to-OTC switch, providing services such as patient self-selection tools, electronic health records integration, and potential retail pharmacy integration.
The company’s development efforts are geared towards addressing critical lifecycle management decisions for manufacturers and federal mandates for improved medical care access. Conditions set by the FDA’s ACNU regulatory framework are designed to widen access as pharmaceutical companies consider potential switches from prescription to OTC availability.
Petros’ platform is intended to offer a licensable framework to assist pharmaceutical companies in meeting FDA standards for the Rx-to-OTC transition. The self-care market, where Petros aims to be a leading innovator, is currently valued at over $38 billion and is expected to grow at a compounded annual rate of 5.6% over the next decade.
This news is based on a press release statement from Petros Pharmaceuticals. The company’s forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Based on InvestingPro Fair Value analysis, PTPI currently appears undervalued, though investors should note the company’s weak overall financial health score of 1.64 out of 10 and negative EBITDA of -$7.43 million in the last twelve months.
In other recent news, Petros Pharmaceuticals has announced significant advancements in its AI platform to facilitate the switch of prescription drugs to over-the-counter availability. These enhancements include improved features for fraud detection and user experience, aligning with the FDA’s guidelines for nonprescription drug products. Additionally, Petros Pharmaceuticals has initiated a 1-for-25 reverse stock split, effective April 30, 2025, following a delisting notice from Nasdaq due to non-compliance with equity requirements. The company is appealing this notice, and all delisting procedures are on hold pending a hearing.
Stockholders have approved a substantial increase in the number of authorized shares, from 250 million to 7 billion, to address compliance issues. The company is also shifting its focus towards smart healthcare technology, developing a SaaS platform that integrates AI and electronic health records to support Rx-to-OTC switches. This strategic pivot is expected to open opportunities for partnerships with pharmaceutical companies. The developments underscore Petros Pharmaceuticals’ commitment to expanding consumer access to medication through innovative technological solutions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.