Company: PTPI
Filing Date: 2025-02-14
Form Type: S-1/A
Source: 0001410578-25-000137
Chunk: 262

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-14
Form: S-1/A
Chunk 262
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%, respectively. Effective November 1, 2024, the Company determined to discontinue sales of Stendra® to wholesalers to mitigate the risk of returns associated with expired or near-expired prescription medication due to Stendra® having less than a six-month shelf life. Sales of Stendra® to wholesalers collectively accounted for approximately 94% and 95% of net sales for the three months ended and nine months ended September 30, 2024, respectively.

4) Inventories

Inventory is comprised of the following:

| ​               | ​ 
 ​ | ​ |                  ​ 
 September 30, 2024 | ​ | ​ |                 ​ 
 December 31, 2023 |
|:----------------|:--|:--|-------------------:|:--|:--|------------------:|
| Raw Materials   | ​ | $ |          1,257,152 | ​ | $ |         1,430,139 |
| Finished goods  | ​ |   |            148,499 | ​ | ​ |           180,252 |
| Total inventory | ​ | $ |          1,405,651 | ​ | $ |         1,610,391 |

Finished goods are net of valuation reserves of $ and $ as of September 30, 2024, and December 31, 2023, respectively.

5) Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets are comprised of the following:

| ​                                               | ​ 
 ​ | ​ |                  ​ 
 September 30, 2024 | ​ | ​ |                 ​ 
 December 31, 2023 |
|:------------------------------------------------|:--|:--|-------------------:|:--|:--|------------------:|
| Prepaid insurance                               | ​ | $ |             94,030 | ​ | $ |            45,664 |
| Prepaid FDA fees                                | ​ |   |                  — | ​ |   |           937,652 |
| Prepaid R&D expenses                            | ​ |   |            208,900 | ​ | ​ |           115,755 |
| API purchase commitment asset (see Note 13)     | ​ |   |          1,417,348 | ​ | ​ |           704,729 |
| Other prepaid expenses                          | ​ |   |            101,281 | ​ | ​ |           118,704 |
| Other current assets                            | ​ |   |