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LTR Pharma (ASX:LTP) has announced its nasal spray ‘viagra drug’ SPONTAN has been prescribed by a Brisbane-based men’s health expert under the drug regulator’s Special Access Scheme (SAS).
The company listed in the dying days of 2023, and it’s had an interesting debut year on the ASX. In June it saw its shares jump 58%; 1Y gains currently sit above +300%.
In a way, LTR Pharma is kind of like the Droneshield of the Healthcare sector right now (ignoring that latter stocks’ recent price action.) The stock has garnered interest from the retail end of the investing ecosystem, but also from fund managers on the east coast.
Today’s news from LTR Pharma inks the second prescription under the TGA scheme this week – on Monday, the company saw a prescription from the Australia-based Restorative Sexual Health Clinic.
The company’s ultimate value proposition is that its drug SPONTAN is fast-acting, unlike its foremost competitor product viagra, which takes longer to kick in.
That rapid onset makes all the difference in contexts its intended for, and has led fund managers to calculate serious valuations.
“SPONTAN meets the needs of my patients where regular PDE5 inhibitor tablets do not,” Dr. Tom Silva said on Thursday – the men’s health expert in question part of today’s announcement from LTP.
“This represents another significant step in our strategy to introduce SPONTAN to the market through a carefully managed approach working with knowledgeable medical practitioners,” LTR Pharma Chairman Lee Rodne added.
LTP last traded at 85cps.
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