burakpekakcan/E+ via Getty Images Mangoceuticals ( NASDAQ: MGRX ), a microcap with a market cap of ~$6M, is up ~110% in premarket trading after saying it will launch proprietary oral versions of GLP-1 weight loss drugs semaglutide and tirzepatide. Semaglutide, in injectable form, is sold as Wegovy by Novo Nordisk ( NVO ), while tirzepatide, also as an injectable, is sold as Zepbound by Eli Lilly ( NYSE: LLY ). Mangoceuticals said the oral dissolvable tablets will be available through its telemedicine platform starting in Q3.
Oral semaglutide, which the company is marketing as "Slim," will cost $299 a month, while oral tirzepatide, marketed as "Trim," goes for $399 a month. "The oral formulations of Semaglutide and Tirzepatide are designed for daily consumption and are expected to provide similar weight loss benefits without the need for regular injections," Mangoceuticals ( MGRX ) said in a news release . Both Novo Nordisk ( NVO ) and Lilly ( LLY ) are slightly higher in premarket trading.
The announcement comes a day after Hims & Hers Health ( HIMS ) stock jumped after announcing it would sell cheap compounded versions of injectable semaglutide. More on Eli Lilly, Novo Nordisk Eli Lilly: Great Time To Divest Before It Potentially Crashes Eli Lilly Remains Expensive Here - Minimal Margin Of Safety The FTC Cracks Down On Novo Nordisk's Ozempic Eli Lilly inks radiopharma deal worth up to $1.1B with Aktis Eli Lilly’s tirzepatide cleared for diabetes treatment in China.
