Benzinga | Nov 3, 2021 03:54PM EDT

Why Petros Pharmaceuticals Stock Is Soaring Today

Petros Pharmaceuticals Inc (NASDAQ:PTPI) is trading higher Wednesday after the company announced 476% growth year-over-year of STENDRA tablet sales as part of its digital marketing agreement with Hims & Hers Health Inc (NYSE:HIMS).

The companies also announced the availability of additional dosages of STENDRA through the Hims & Hers platform, further expanding the partnership.

"Our continued relationship with Hims supports an industry-leading telehealth platform that allows individuals to inquire about and address erectile dysfunction with discretion and by way of a convenient method of healthcare engagement," said Fady Boctor, president and chief commercial officer of Petros Pharmaceuticals.

"With significant growth year-over-year of STENDRA tablet sales through Hims, we are excited to expand our collaboration with Hims and enhance access to STENDRA through this critical channel," Boctor added.

Petros Pharmaceuticals is a men's health pharmaceutical company focused on identifying, developing, acquiring and commercializing innovative therapeutics for men's health issues including erectile dysfunction, peyronie's disease, hormone health and substance use disorders.

PTPI Price Action: Petros Pharmaceuticals has traded as high as $5.95 and as low as $1.56 over a 52-week period.

The stock was up 56.6% at $2.74 at time of publication.