Petros Pharmaceuticals Inc. (PTPI) has moved up by a staggering 144.36% in the pre-market, at $3.25, with 4.5 million shares exchanging hands. In the previous trading session, the stock lost 8.90% to close at $1.33, at a volume of 1.29 million. Intraday trading the stock went as high as $1.46 and as low as $1.19. While over the 52 weeks, the stock fluctuated between $1.19 and $5.95 at an average volume of 4.8 million. The stock has lost 38.99% in the past five days and 69.77% year to date. Currently, PTPI has a market capital of $19.2 million with 13.15 million outstanding shares.
More about PTPI
Founded in 2020, Petros Pharmaceuticals Inc. (PTPI) is a pharmaceutical company that engages in men’s health therapeutics. It identifies, develops, acquires, and commercializes innovative therapies for issues such as endothelial dysfunction, psychosocial ailments, hormone health, and substance use disorders, etc. The company operates through two segments, which are Prescription Medications and Medical Devices segments. PTPI is based in New York, U.S.A.
PTPI stock Movement
PTPI stock saw its 75-day high on November 3, 2021, when the stock reached a value of $3.82 and closed the session at $2.88. The reason for the gain was the company’s 476% year-over-year growth in sales of its Stendra tablet. The huge growth in tablet sales was a result of an exclusive digital marketing agreement with Hims & Hers Health Inc. Following this big gain, the stock entered market corrections due to possible profit booking. And had been in a more or less downtrend since then. On November 15, the company announced its third-quarter financial results which did not impress the investors and the stock continued its fall.
However, PTPI stock seems to be bouncing back from the market corrections and unimpressive financial results. Market sentiments seem to have been shifted given the stock’s humungous gain of 184% in the pre-market.
Q3 Financial Results
On November 15, Petros Pharmaceuticals Inc. (PTPI) announced its financial results for the quarter ended September 30, 2021. As per Q3 2021, the net sales were $2.2 million, versus net sales of $3.5 million in Q3 2020. Moreover, the R&D expenses for the quarter were $281,000, against $37,000 in Q3 2020. Further, the general and administrative expenses were $3.6 million for Q3 2021, compared to $3.1 million in the same period of 2020. In addition, the net loss for Q3 2021, was $1.7 million, against $3.3 million in Q3 2020.
On September 30, 2021, PTPI had cash and cash equivalents of $8.1 million, against $17.1 million on December 31, 2020.
