Kitov Pharma (KTOV) Stock Heads Up On Commercial Launch News

Kitov Pharmaceuticals KTOV Stock News

Kitov Pharma (NASDAQ: KTOV) is making a run for the top early on in the trading session this morning, and for good reason. The company issued a press release this morning, announcing the commercial launch of a new product. Here’s the news:

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KTOV Stock Pops On Commercial Launch

In the press release, Kitov Pharma announced that it is launching Consensi in the United States. Consensi is a fixed-dose combination of celecoxib and amlodipine besylate.

The treatment was designed for the simultaneous treatment of hypertension and osteoarthritis pain. KTOV said that in the United States, the drug is being sold by the company’s marketing partner, Burke Therapeutics and distributed by Coeptis Pharmaceuticals.

In a statement, Dave Mehalick, CEO at Coeptis Pharmaceuticals, had the following to offer:

Consensi™ provides a new therapeutic option for patients suffering from both hypertension and osteoarthritis-related pain. We are excited about the availability of Consensi™ for patients.

The above statement was followed up by Angela Sutteer, CEO at Burke Therapeutics. Here’s what she had to say:

We are please Consensi™ is now available and our sales team is eager to introduce this one tablet, once a day treatment for hypertension and osteoarthritis pain to the U.S. market.

Finally, Isaac Israel, CEO at KTOV, had the following to offer:

The initial U.S. sales of Consensi™ represents a key milestone for Kitov. We are confident that Coeptis’ and Burke’s extensive distribution reach will enable us to maximize Consensi™’s market potential. The projected royalties and milestone revenues from our U.S. marketing and distribution agreements for Consensi™, together with the $26 million gross fundraising proceeds we secured this year, will provide the source of financial support for our development efforts aimed at advancing our emerging oncology pipeline, including advancing both NT-219 and CM-24 into significant value creating clinical milestones. We look forward to providing further updates about Consensi™’s marketing activities and progress soon.

This News Is Huge

This isn’t just your average product launch. Kitov Pharmaceuticals is launching a product with two indications, both of which are in massive markets.

By the year 2027, experts expect that the hypertension treatment market will grow to be worth well over $9 billion per year. The osteoarthritis market is expected to be worth more than $10 billion annually by the year 2024.

Now, it would be ridiculous to think that KTOV and its partners will take 100% of sales in these markets, but they don’t have to. With a market cap of around $60 million, KTOV only needs to tap into a small percentage of either one of these markets to see significant revenue in comparison to market cap.

That’s overwhelmingly exciting and it makes KTOV stock one for the watchlist.

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