PTPI Petros Pharmaceuticals, Inc.
Distress ·
Petros Pharmaceuticals assigned all of its assets to PT Liquidation, LLC for the benefit of creditors on September 30, 2026, and says it has ceased substantially all operations. The executive chairman and two directors resigned the same day, and the Series A preferred stock must be redeemed immediately.
Petros appointed Robert Weinstein as chief accounting officer and principal financial officer on June 18, 2026, the day it separated Mitchell Arnold from his finance roles.
The board approved restricted share awards on June 5, 2026, to the chairman, two directors and the president and chief commercial officer.
A Nasdaq Hearings Panel has decided to delist Petros, with trading suspended at the open on May 22, 2025, on four grounds that include equity and bid-price rules and concern over the February 2025 public offering. Petros will ask the Listing Council to review the decision.
Petros is selling about 40,000,000 shares, or pre-funded warrants in their place, at $0.24 for about $9.6 million gross. Dawson James Securities, Inc. is the placement agent, paid 8% of the gross proceeds, and the warrants cannot be exercised until stockholders approve them.
Petros Pharmaceuticals, Inc. describes itself as working toward becoming a leading innovator in the self-care market, through expanded access to nonprescription pharmaceuticals. It discontinued sales of Stendra, a PDE-5 inhibitor for erectile dysfunction licensed from Vivus, Inc., to wholesalers in December 2024 and no longer commercializes Stendra from March 2025. Its subsidiaries Metuchen Pharmaceuticals, Timm Medical Technologies and Pos-T-Vac completed an assignment for the benefit of creditors in June 2025, transferring their assets to a third-party assignee. Petros is developing a proprietary integrated technology platform that supports the switch of prescription products to over-the-counter status. The platform has a software-as-a-service component for pharmaceutical companies and a potential Software as a Medical Device consumer interface. The platform is in early development and is anchored in the FDA's rule for nonprescription drug products with an additional condition for nonprescription use. The company expects its primary revenue to come from licensing fees.
| Product or program | What it is | Stage |
|---|---|---|
| Rx-to-OTC SaaS platform | Digital hosting for pharma companies' prescription-to-OTC switch | early development stages |
| SaMD consumer interface | Potential software guiding consumer self-selection of OTC products | early development; must comply with FDA governance |
| Stendra | PDE-5 inhibitor for erectile dysfunction licensed from Vivus | no longer commercialized since March 2025 |
| Line | FY2025 | FY2024 |
|---|---|---|
| Revenue | $5.1 million | |
| Research and development | $2.6 million | |
| Net income (loss) | $1.9 million | -$14.3 million |
| Cash from operations | -$6.7 million | -$2.6 million |
| Cash and equivalents | $5.1 million | $1.7 million |
Our latest story on this, dated May 21, 2025: "Nasdaq panel moves to delist Petros Pharmaceuticals, trading to shift to OTC". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated May 21, 2025: "Nasdaq panel moves to delist Petros Pharmaceuticals, trading to shift to OTC". The story links the filing or release it is based on. Read the story.
Petros Pharmaceuticals, Inc. trades under the ticker PTPI on OTC.
Petros Pharmaceuticals, Inc. is listed on OTC.
The SEC Central Index Key (CIK) for Petros Pharmaceuticals, Inc. is 1815903. Its filings are on SEC EDGAR.
42,372,260 shares as of 2026-08-15, per the cover page of its 10-Q filed 2026-08-13.
Our directory records Petros Pharmaceuticals, Inc. under United States.
Our directory classifies Petros Pharmaceuticals, Inc. as: Pharmaceuticals: Major. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Petros Pharmaceuticals, Inc. is US71678J3086.
aibio.space lists Petros Pharmaceuticals, Inc. among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as DE.
Petros Pharmaceuticals, Inc. describes itself as working toward becoming a leading innovator in the self-care market, through expanded access to nonprescription pharmaceuticals. It discontinued sales of Stendra, a PDE-5 inhibitor for erectile dysfunction licensed from Vivus, Inc., to wholesalers in December 2024 and no longer commercializes Stendra from March 2025.
Rx-to-OTC SaaS platform: Digital hosting for pharma companies' prescription-to-OTC switch Stage: early development stages.
SaMD consumer interface: Potential software guiding consumer self-selection of OTC products Stage: early development; must comply with FDA governance.
Petros Pharmaceuticals, Inc. reported net income of $1.9 million for the fiscal year ended Dec 31, 2025, and used $6.7 million of cash in operations, per its annual report to the SEC.
Reported a bankruptcy filing. SEC Form 8-K (Items 1.03,2.04,5.02). Source
Reported substantial doubt about its ability to continue as a going concern. SEC Form 10-K. Source
Told the SEC a periodic report would be filed late. SEC Form NT 10-K. Source
Filed to remove its shares from exchange listing. SEC Form 25-NSE. Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). Source
Reported a change of independent auditor. SEC Form 8-K (Items 4.01,9.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01,3.03,5.03,9.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01,3.03,5.02,5.03,5.07,9.01). Source
Reported a change of independent auditor. SEC Form 8-K (Items 4.01,9.01). Source
Reported substantial doubt about its ability to continue as a going concern. SEC Form 10-K. Source
Asked shareholders to approve a reverse stock split. SEC Form DEF 14A. Source
Asked shareholders to approve a reverse stock split. SEC Form PRE 14A. Source
Reported a financing. SEC Form 424B4. Source
Reported a financing. SEC Form 8-K (Items 1.01,3.03,5.03,9.01). Source
Reported that a debt obligation was accelerated. SEC Form 8-K (Items 2.04,9.01). Source
Reported a shareholder vote on a reverse stock split or more authorized shares. SEC Form 8-K (Items 5.07). Source
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