Mangoceuticals Inc. (NASDAQ:MGRX) Stock Soars After Launch of Oral Semaglutide for Advanced Weight Loss Treatment
Following the 26% gain recorded by the Mangoceuticals Inc. (NASDAQ:MGRX) stock on Tuesday, it may be a good move to keep an eye on it this morning. The company is involved in the development, sales, and marketing of men’s health and wellness offerings through a secure telemedicine platform.
MangoRx Addresses $49.3 Billion Global GLP-1 Market With Launch of Oral Semaglutide for Advanced Weight Loss Treatment
The rally in the stock ensued after the company announced that its semaglutide-based weight loss product named ‘Slim’ had been made available for purchase on the Mangoceuticals website, www.MangoRx.com. In the news release, the company also stated that the launch of the product was a significant new milestone since it marked its entry into the rapidly growing weight management and weight loss segment.
As per the New England Journal of Medicine, semaglutide is now regarded as one of the more popular constituents for helping with weight loss. Its effectiveness lies in the regulation of appetite and bringing about a feeling of fullness. Mangoceuticals stated yesterday that it aimed to leverage the rising popularity of GLP-1 peptides like semaglutide to boost its revenues over the course of the upcoming quarters.
As per a study from Roots Analysis, the worldwide GLP-1 market is expected to grow to $157.1 billion in 2035 from $49.3 billion in 2025. The rising obesity rates globally would be the major reason behind the expected growth.
CEO Comment
Jacob Cohen, CEO and Founder of MangoRx, commented, “The launch of our compounded oral Semaglutide treatment, or ‘Slim,’ is a direct result of our commitment to innovation and meeting the evolving needs of our customers. We are excited to deliver this product at a critical time when demand for GLP-1 peptides is soaring. Our telemedicine platform enables us to provide our customers with a seamless and secure experience, further enhancing our ability to serve the growing weight loss market.”
Technicals
| +/- EMA(20) | 0.26 (+5.77%) |
| +/- SMA(50) | 0.3 (-8.33%) |
| +/- SMA(200) | 0.3 (-8.33%) |
| 5-Day Perf. | +20.61% |
| 1-Month Perf. | +14.63% |
| 3-Month Perf. | -11.29% |
| 6-Month Perf. | +30.95% |
| YTD Perf. | -0.69% |
| 1-Year Perf. | -67.26% |
| RSI(14) | 52.56 |
| ATR(14) | 0.05 |
| ADX(14) | 31.52 |