Mangoceuticals, Inc. ( MGRX ) shares are trading higher Friday after the company announced initial success for its newly launched all-inclusive injectable Testosterone Replacement Therapy treatment program.

Mangoceuticals ( MGRX ) stock is among today’s top performers. What’s behind MGRX gains?

Early Traction Validates $99 Subscription Model

The company said month-over-month sales of its injectable TRT program increased 336% since launching in mid-December. MangoRx also reported a 54% reduction in customer acquisition costs over the same period.

The $99-per-month program includes doctor visits and medical consultations, lab work and analysis and prescribed medication, delivered through the company's telehealth platform.

MangoRx said it expects TRT to be its primary growth driver going forward as it continues to invest in both injectable and oral formulations, including PRIME by MangoRx, powered by Kyzatrex.

CEO Jacob Cohen said the initial customer demand and sales acceleration demonstrate the value of the company's approach to men's hormone health and reinforce TRT as a key strategic focus.

Mangoceuticals Stock Soars Higher

MGRX Price Action: At the time of publication, Mangoceuticals ( MGRX ) shares are trading 56.16% higher at 56 cents, according to data from Benzinga Pro.

Image via Shutterstock