MGRX shares plunge 10.06% intraday amid insider selling by CFO and director, plus $2.5M priced direct offering.

Mangoceuticals (NASDAQ:MGRX) fell 10.06% intraday amid recent insider selling and capital-raising activities. The stock decline coincided with reports of the CFO selling 10,000 shares and a director offloading 125,000 shares, signaling potential lack of confidence in the company’s near-term prospects. Additionally, the firm announced a $2.5 million registered direct offering and private placements priced at the market, which may dilute existing shareholders and raise concerns about financial pressure. These developments, coupled with earlier denials of key partnerships with Eli Lilly and Novo Nordisk in November, likely exacerbated investor uncertainty, triggering the sharp intraday selloff.