Newly developed clinic prescribing system will allow Doctors to prescribe MangoRx products from within practices and clinics
Dallas, Texas, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Mangoceuticals, Inc. (NASDAQ: MGRX) (“MangoRx” or the “Company”), a company focused on developing, marketing, and selling a variety of men’s health and wellness products via a secure telemedicine platform, including its uniquely formulated erectile dysfunction (ED) drug (‘Mango’), its hair growth product (‘GROW’), and its FDA approved oral testosterone replacement therapy (TRT), ‘PRIME’, by MangoRx, powered by Kyzatrex®️, is excited to announce that it has officially launched its direct-to-clinics sales division offering doctors and medical practitioners the ability to prescribe MangoRx products to their patients directly from their offices, clinics and brick and mortar locations. The Company also reports that it has successfully onboarded its first medical health and wellness clinic based in Dallas, TX last week.
The Company believes that this direct-to-clinics initiative will assist in fueling a greater amount of recurring revenues while at the same time reducing customer acquisition costs (CACs) associated with traditional digital marketing strategies. The first of its kind within MangoRx’s direct competitor group, the Company will be deploying a boots-on-the-ground sales force with a mission to penetrate existing brick and mortar men’s health and wellness clinics across the United States, including but not limited to Med Spas, Low Testosterone clinics, and specialty doctors’ offices.
Jonathan Arango, MangoRx’s Co-Founder and President noted, “we are very excited for the launch of this direct-to-clinics initiative as this has been a part of our business plan and in the works since the 4th quarter of 2023. Since we have launched our Mango ED products, many doctors have approached us asking how they could prescribe Mango to their existing patients. This led us to design our newly custom-built prescribing system that allows for the practitioner to prescribe MangoRx products – including our newly launched ‘PRIME’, by MangoRx, powered by Kyzatrex®️ – while at the same time acquiring a new MangoRx customer within our ecosystem.”
MangoRx transactions are currently being initiated by consumers seeking MangoRx’s products. This newly developed prescribing system will now allow for prescribing doctors and medical practitioners to initiate the transaction for the sale of MangoRx’s products. The Company will be activating a website where providers and clinics can visit to complete the onboarding process to qualify as a MangoRx preferred provider.
Jacob Cohen, MangoRx’s Co-Founder and CEO noted, “our initial research has shown that some of these providers prescribe as many as 6,000 to 7,000 ED prescriptions per year from within their offices or clinics. This amount, compounded with the opportunity for them to also prescribe ‘PRIME’, by MangoRx, powered by Kyzatrex®️, presents an exponential growth opportunity especially given PRIME’s $199 monthly subscription rate. We are confident that this new initiative will fuel our revenue growth and have a further impact on making MangoRx a household name.”
About MangoRx
MangoRx is focused on developing a variety of men's health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men's wellness telemedicine services and products as a growing sector and especially related to the area of erectile dysfunction (ED), hair growth and hormone replacement therapies. Interested consumers can use MangoRx’s telemedicine platform for a smooth experience. Prescription requests will be reviewed by a physician and, if approved, fulfilled and discreetly shipped through MangoRx’s partner compounding pharmacy and right to the patient’s doorstep.
To learn more about MangoRx’s mission and other products, please visit www.MangoRx.com or on social media @Mango.Rx.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). These forward-looking statements represent the Company's current expectations or beliefs concerning future events and can generally be identified using statements that include words such as "estimate," "expects," "project," "believe," "anticipate," "intend," "plan," "foresee," "forecast," "likely," "will," "target" or similar words or phrases. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company's control which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to; our ability to obtain additional funding and generate revenues to support our operations; risks associated with our ED product which have not been, and will not be, approved by the U.S. Food and Drug Administration ("FDA") and have not had the benefit of the FDA's clinical trial protocol which seeks to prevent the possibility of serious patient injury and death; risks that the FDA may determine that the compounding of our planned products does not fall within the exemption from the Federal Food, Drug, and Cosmetic Act ("FFDCA Act") provided by Section 503A; risks associated with related party relationships and agreements; the effect of data security breaches, malicious code and/or hackers; competition and our ability to create a well-known brand name; changes in consumer tastes and preferences; material changes and/or terminations of our relationships with key parties; significant product returns from customers, product liability, recalls and litigation associated with tainted products or products found to cause health issues; our ability to innovate, expand our offerings and compete against competitors which may have greater resources; our significant reliance on related party transactions; the projected size of the potential market for our technologies and products; risks related to the fact that our Chairman and Chief Executive Officer, Jacob D. Cohen and President, Jonathan Arango, combined have majority voting control over the Company; risks related to the significant number of shares in the public float, our share volume, the effect of sales of a significant number of shares in the marketplace, and the fact that the majority of our shareholders paid less for their shares than the public offering price of our common stock in our recent initial public offering; the fact that we have a significant number of outstanding warrants to purchase shares of common stock at $1.00 per share, the resale of which underlying shares have been registered under the Securities Act of 1933, as amended; our ability to build and maintain our brand; cybersecurity, information systems and fraud risks and problems with our websites; changes in, and our compliance with, rules and regulations affecting our operations, sales, marketing and/or our products; shipping, production or manufacturing delays; regulations we are required to comply with in connection with our operations, manufacturing, labeling and shipping; our dependency on third-parties to prescribe and compound our ED product; our ability to establish or maintain relations and/or relationships with third-parties; potential safety risks associated with our Mango ED product, including the use of ingredients, combination of such ingredients and the dosages thereof; the effects of high inflation, increasing interest rates and economic downturns, including potential recessions, as well as macroeconomic, geopolitical, health and industry trends, pandemics, acts of war (including the ongoing Ukraine/Russian conflict) and other large-scale crises; our ability to protect intellectual property rights; our ability to attract and retain key personnel to manage our business effectively; our ability to maintain the listing of our common stock on the Nasdaq Capital Market; overhang which may reduce the value of our common stock; volatility in the trading price of our common stock; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company's products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties.
More information on potential factors that could affect the Company's financial results is included from time to time in the "Cautionary Note Regarding Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, including the Company’s Quarterly Report on Form 10-Q for the Quarter ended September 30, 2023. These filings are available at www.sec.gov and at our website at https://www.mangoceuticals.com/sec-filings. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
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SOURCE: Mangoceuticals Inc.
