Petros Pharmaceuticals Inc Stock Price, News & Analysis

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.

Petros Pharmaceuticals has announced new data published in the International Journal of Urology, revealing positive results for its erectile dysfunction treatment, STENDRA (avanafil), in a study comparing it to sildenafil (Viagra). The trial demonstrated STENDRA's rapid onset of action, with 84.8% of patients achieving an erection within 15 minutes. After 12 weeks, 64.8% of STENDRA users reported normal erectile function vs. 36.9% for sildenafil. Despite the small sample size and other limitations, the findings support STENDRA's therapeutic value and potential for OTC status.

Petros Pharmaceuticals (NASDAQ:PTPI) reported Q2 2022 net sales of $4.2 million, a significant increase from $2.5 million in Q2 2021. The company achieved its first positive Adjusted EBITDA of $200,000, reflecting improved operational efficiency. Key progress includes successful OTC label comprehension for STENDRA® and a research agreement with Massachusetts General Hospital. Total gross profit was $3.5 million, with gross margins steady at 84%. Cash reserves totaled $13.3 million as of June 30, 2022.

Petros Pharmaceuticals, Inc. (Nasdaq: PTPI) has confirmed that a July 28, 2022, press release announcing an acquisition was fraudulent. The company clarified that it is not involved in any acquisition and has reported this fraudulent activity to Nasdaq. Petros aims to be a leading provider of men's health therapeutics, focusing on conditions such as erectile dysfunction and Peyronie’s disease.

The company remains committed to its business strategy and continues to prioritize the development of innovative solutions for men's health issues.