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Mangoceuticals , Inc. (NASDAQ:MGRX) reported the resignation of Antonios “Tony” Isaac as president and as a member of its board of directors, effective June 30. The company disclosed the change in a press release statement filed with the Securities and Exchange Commission.
According to the filing, Mr. Isaac notified the Dallas-based health services company of his decision on July 1. The company stated that the resignation was not the result of any disagreement with Mangoceuticals concerning its operations, policies, or practices. Despite maintaining impressive gross profit margins of nearly 58%, InvestingPro analysis indicates the company’s overall financial health score remains weak.
Jacob D. Cohen, chief executive officer of Mangoceuticals, signed the filing. No information was provided regarding a replacement for Mr. Isaac or changes to the company’s compensatory arrangements for officers.
Mangoceuticals’ common stock is listed on the Nasdaq Capital Market under the symbol MGRX. The company is incorporated in Texas.
All information is based on a press release statement filed with the SEC.
In other recent news, Mangoceuticals, Inc. has reported promising results from field studies of their antiviral compound MGX-0024, aimed at preventing respiratory diseases in poultry. Conducted in India, the studies showed significantly lower mortality rates in treated chickens compared to untreated groups. The company is also exploring the compound’s potential against avian flu in collaboration with Vipragen Biosciences and an Indian government lab. In another development, Mangoceuticals has acquired intellectual property from Smokeless Technology Corp., a Canadian firm, to expand into the oral pouch delivery market. This acquisition is part of a strategic move to integrate stimulant formulations with pharmaceutical ingredients under its MangoRx and PeachesRx brands. CEO Jacob Cohen believes this will accelerate the company’s growth in the consumer wellness sector. Additionally, Mangoceuticals has strengthened its management team by bringing on Tim Corkum, former President of JUUL Labs Canada, to aid in product development. ArcStone Securities and Investments Corp. acted as the financial advisor for this transaction. These developments reflect Mangoceuticals’ ongoing efforts to innovate and expand its product offerings.
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