The stock of Petros Pharmaceuticals, Inc. (PTPI) gained today with significant numbers. The stock valued at $3.60 gaining 33.3% in the pre-market at the time of this writing. At the end of the last trading session the stock closed at $2.36. The average volume of stock traded in the last trading session was around 26.98 million.
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Reasons of the stock gain:
There is no important press release by the company that could have played an important role in the stock surge. So the reasons of the stock gain are not internal but external. These external factors are major discussions about the company’s stock by the trader to coordinate a short squeeze. These discussions were witnessed on the mainstream media platforms like Facebook, Reddit, Twitter and Discord etc. due to which the volume of the stock traded in the company’s shares significantly increased to approximately 26.98 million in the last trading session.
But there is one more reasons that could have also played a key role in the stock surge and that is the press release in the last week. On the 8th December, 2021 the company announced in a press release the positive results of over-the-counter (OTC) draft label comprehension study results for its Drug STENDRA (Avanafil) to encounter erectile dysfunction (ED).
This important Label Comprehension Study was done to assess Drug Facts Label intended for OTC use for the comprehension of a draft STENDRA.
The study will play an important in the Company’s plans to start discussions with the FDA to expand the product’s access through application for a possible OTC way out.
The early study depicts positive label comprehension outcomes in the study. This has encouraged andmade the Company to begin the next step, a Self-Selection Study, as it moves forward to builda case for the FDA to provide OTC access to STENDRA.
Effect on the stock:
After this trend on the various social media platforms, the stock of the company are gaining popularity amongst the investors and are investing to cash out some instant profits. This is could be a limited boom for the stock but it won’t last permanent.
Conclusion:
The company has recently made some big achievement in developing a drug. They now are waiting for the FDA to approve it. This will play an important role in bringing new revenue for the company and increase its profitability.
