Company Name: Petros Pharmaceuticals, Inc.
Petros Pharmaceuticals is committed to the goal of becoming a world-leading specialized men’s health company by identifying, developing, acquiring, and commercializing innovative therapeutics for men’s health issues, including, but not limited to, erectile dysfunction, endothelial dysfunction, psychosexual and psychosocial ailments, Peyronie’s disease, hormone health, and substance use disorders.
Why did it go up over 100%?
Petros Pharmaceuticals, Inc. (“Petros” or “the Company”) (Nasdaq: PTPI), a leading provider of therapeutics for men’s health, today reports positive over-the-counter (OTC) draft label comprehension study results for its erectile dysfunction (ED) Drug STENDRA® (avanafil). This Pivotal Label Comprehension Study was designed to assess comprehension of a draft STENDRA® Drug Facts Label intended for OTC use. This study is a key component in the Company’s plans to engage in discussions with the FDA to expand the product’s access through application for a possible OTC pathway. Early study indicators show positive label comprehension outcomes in the study, which has encouraged the Company to initiate the next step, a Self-Selection Study, as it continues to build the case for the FDA for OTC access to STENDRA.
“The label comprehension study is a key component of our plans to help expand access for STENDRA beyond the prescription model, and to make STENDRA potentially the first prescription-grade ED medication to become available over-the-counter in the United States. While the process of gathering data to be shared with the U.S. Food and Drug Administration (FDA) continues, we are enthusiastic about our progress toward providing new hope for the millions of men suffering from this condition,” commented Fady Boctor, Petros’s President and Chief Commercial Officer.
The first “potentially the first prescription-grade ED medication to become available over-the-counter in the United States.” EVER?!?
I’m a big fan of this company and the recent news it released. Let’s take a look at the chart.
5 Day Technical Analysis:
It’s been gapping up and pulling back for the last 4 days and it looks like it is still bullish but it is possibly about to go bearish! Let’s tak a close look at the 1 day.
1 Day CHart Technical Analysis
It’s very simple, can it beat $4.38? Yes, then I would wait for a pull back and then swing trade it for a quick scalp. If it can’t, I would expect a pullback then consolidation and then a run! Overall, I love the stock because of the news. The first OTC ED med, say what!?!?