MangoRx Receives Request for Proposal (RFP) From ISFLST for New Male Enhancement Product Exclusive for the Asian Market

Rhea-AI Summary

MangoRx (NASDAQ:MGRX), a men's health telemedicine company, has received its first Request for Proposal (RFP) from the International Society of Frontier Life Sciences and Technology (ISFLST) for a new male enhancement product targeting the Asian market. The product will be manufactured in the USA using GMP-compliant facilities. A pilot program is planned for 50 retail locations in China, with potential expansion to 5,000 locations.

The company's participation in a Beijing exhibit was successful, leading to new distribution partnerships and media coverage. MangoRx plans to expand its presence with exhibits in Shanxi Province, Hangzhou, and Beijing. Additionally, the company's existing products, Mango and Grow, are under review for regulatory approval in Asian markets.

Positive

• Received RFP for new male enhancement product for Asian market
• Planned pilot program for 50 retail locations in China, with potential expansion to 5,000
• Successful participation in Beijing exhibit, securing new distribution partnerships
• Plans for additional exhibits in Shanxi Province, Hangzhou, and Beijing
• Current products under review for regulatory approval in Asian markets

Negative

• None.

News Market Reaction

-3.13%

1 alert

-3.13% News Effect

On the day this news was published, MGRX declined 3.13%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Dallas, TX Based Men's Health Telemedicine Company Announces Successful Participation in Beijing Exhibit

DALLAS, TX / ACCESSWIRE / August 8, 2024 / Mangoceuticals, Inc. (NASDAQ:MGRX) ("MangoRx" or the "Company"), a leader in developing, marketing, and selling a variety of men's health and wellness products, is pleased to announce the receipt of its first Request for Proposal (RFP) from its distributor, the International Society of Frontier Life Sciences and Technology (ISFLST). This RFP focuses on the formulation, production, and packaging of a new male enhancement non-prescription product, intended to be introduced and sold in the Chinese market as a natural solution for men's health.

This collaboration aligns MangoRx's advanced formulation, manufacturing, branding capabilities and commitment to quality with ISFLST's vision for a superior men's health and enhancement product. The proposed product will be manufactured in the USA, utilizing GMP-compliant facilities. The anticipated pilot program will explore initial distribution across 50 retail locations throughout China, with the potential to scale to up to 5,000 locations based on market demand analysis.

Jacob Cohen, CEO and Co-Founder of MangoRx commented, "this RFP represents a significant milestone in the Company's efforts to expand its current product offerings and to reach new international markets. We are very pleased with the amount of traction and success that our partners at ISFLST have achieved in such a little amount of time while representing MangoRx and our products throughout Asia. This is a true testament to MangoRx's branding efforts and dedication to quality in our products, compounding and innovative formulation capabilities."

Dr. Douglas Christianson, the Company's Director of Medical Research and Product Innovation will be spearheading the RFP process and will be working closely with our partners at the ISFLST to develop and finalize the male enhancement product's formulation.

The initiative to address the need for innovative men's health products has been well received by the region, with several associations preparing for their market launch. As the men's health platform gains traction, the ISFLST has also expressed interest in developing similar solutions for women's health.

Furthermore, MangoRx's current male performance and hair growth products, Mango and Grow, are currently undergoing review to determine the appropriate pathway for regulatory approval in the Asian markets. The ISFLST are actively working to navigate the appropriate channels to efficiently
bring MangoRx's current and region-specific developed product lines into the region.

The Company is also pleased to announce that MangoRx's recent participation in the Beijing exhibit was highly successful, showcasing the Company's innovative products, securing new distribution partnerships, and providing valuable education to customers. The initiative was broadcasted on National CCTV television and received extensive coverage from various Chinese publications.

Further expansion plans include additional exhibit locations in Shanxi Province, Hangzhou, and a second site in Beijing. These expansions will provide MangoRx with a prominent platform to address men's health issues and establish valuable partnerships in these key regions.

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, our ability to meet Nasdaq's minimum bid price requirement and other continued listing requirements of Nasdaq; the Company's stockholders' equity as of the Company's next fiscal quarter end, which is required to be above $2.5 million pursuant to correspondence from Nasdaq; our ability to maintain the listing of our common stock on Nasdaq; our ability to commercialize our patent portfolio; our ability to obtain Comisión Federal para la Protección contra Riesgos Sanitarios for our ED product in Mexico, the costs thereof and timing associated therewith; 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 has significant 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; dilution caused by recent offerings; conversion of outstanding shares of preferred stock and the rights and preferences thereof, the fact that we have a significant number of outstanding warrants to purchase shares of common stock and other convertible securities, the resale of which underlying shares have been registered under the Securities Act of 1933, as amended, dilution caused by exercises/conversions thereof, overhang related thereto, and decreases in the trading price of our common stock caused by sales thereof; 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 products, including the use of ingredients, combination of such ingredients and the dosages thereof; the effects of changing rates of inflation and 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 war in Israel) 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; 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 Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2024, and subsequent reports. 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.

Follow MangoRx on social media:
https://www.instagram.com/mango.rx
https://x.com/mango_rx
https://www.facebook.com/MangoRxOfficial

FOR INVESTOR RELATIONS
Mangoceuticals Investor Relations
Email: investors@mangorx.com

Contact Information
Investor Relations
investors@mangorx.com

SOURCE: Mangoceuticals

View the original press release on accesswire.com

FAQ

What is the new product MangoRx (MGRX) is developing for the Asian market?

MangoRx is developing a new male enhancement non-prescription product for the Chinese market, focusing on natural solutions for men's health.

How many retail locations is MangoRx (MGRX) targeting for its pilot program in China?

MangoRx is planning a pilot program for 50 retail locations in China, with the potential to scale up to 5,000 locations based on market demand.

Where did MangoRx (MGRX) recently participate in an exhibit?

MangoRx recently participated in a successful exhibit in Beijing, which was broadcasted on National CCTV television and received extensive coverage in Chinese publications.

What are MangoRx's (MGRX) expansion plans in China?

MangoRx plans to expand its presence with additional exhibits in Shanxi Province, Hangzhou, and a second site in Beijing to showcase its products and establish partnerships.