Welcome to our dedicated page for Petros Pharmaceuticals news (Ticker: PTPI), a resource for investors and traders seeking the latest updates and insights on Petros Pharmaceuticals stock.
News about Petros Pharmaceuticals, Inc. (PTPI) centers on its efforts to build a technology-driven platform for prescription-to-over-the-counter (Rx-to-OTC) drug switches and its evolving capital markets profile. Company press releases describe Petros’ transition toward a smart healthcare technology model, highlighting development of a proprietary SaaS platform and Software-as-a-Medical-Device (SaMD) web application designed to help pharmaceutical sponsors navigate FDA requirements for nonprescription access.
Readers following PTPI news will see updates on the company’s AI- and big data–enabled platform, including collaborations with a big data and analytics provider and with Innolitics, which Petros identifies as a SaMD developer. These stories discuss enhancements such as identity verification, document authentication, deep fake detection, facial and ID recognition, and machine learning–based auto capture, all intended to support safe and appropriate OTC access to formerly prescription products.
Petros’ news flow also includes regulatory and policy context, with management statements about alignment with FDA’s "Nonprescription Drug Product with an Additional Condition for Nonprescription Use" (ACNU) rules and U.S. executive orders aimed at expanding OTC access and lowering drug prices. The company frequently references the emerging self-care market and its belief that its technology-assisted platform could help pharmaceutical partners pursue Rx-to-OTC switches across multiple indications.
In addition, PTPI news covers corporate and capital markets developments such as a reverse stock split, public offerings of common stock and warrants, and changes in listing status, including suspension and delisting from Nasdaq and transition to OTC trading. Coverage also addresses the deconsolidation and discontinued operations of Metuchen Pharmaceuticals and its subsidiaries, which Petros presents as part of a broader corporate realignment and balance sheet strengthening effort. Investors and observers can use this news stream to track Petros’ technology milestones, regulatory positioning, and key corporate actions over time.
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Petros Pharmaceuticals (Nasdaq:PTPI) announced a 1-for-10 reverse stock split effective at 4:05 p.m. on November 30, 2022. Following the split, shares will trade on a split-adjusted basis starting December 1, 2022. This decision was backed by stockholder approval at the annual meeting held on November 29, 2022. The move will decrease the total outstanding shares from approximately 20.7 million to 2.1 million, while maintaining each shareholder's percentage interest, with fractional shares rounded up.
Petros Pharmaceuticals (NASDAQ: PTPI) announced its Q3 2022 financial results, reporting net sales of negative $1.4 million, a decline from $2.1 million in the same quarter of 2021. This drop was driven by excessive returns due to expired product inventory. The company also recorded a net loss of $13.8 million, significantly up from a loss of $1.7 million year-over-year. Despite challenges, Petros highlighted FDA approval for an expanded STENDRA label and aims to achieve over-the-counter access for the product, which could enhance market reach. Total cash stood at $11.2 million as of September 30, 2022.
Petros Pharmaceuticals has expanded the FDA labeling of its erectile dysfunction drug STENDRA (avanafil) to include new clinical trial data. The study involved 286 men post-radical prostatectomy, demonstrating significant improvements in erectile function with doses of 100 mg and 200 mg. The company aims to enhance access to STENDRA, including potentially offering it over-the-counter. The label expansion reflects ongoing cooperation with the FDA to include previously unrepresented patient populations.
Petros Pharmaceuticals (NASDAQ:PTPI) announces that President Fady Boctor will participate in two significant conferences in October 2022. The first event is the LD Micro Main Event XV in Los Angeles on October 25, where he will present at 4:30 pm PT and be available for one-on-one meetings. The second event is the 23rd Annual Fall Scientific Meeting of SMSNA in Miami from October 27 to 30, where he will represent the company at Booth 102. Petros focuses on developing innovative therapeutics for various men's health issues.
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