Jaguar Health Granted Extension Until August 13, 2024, to Regain Compliance with Nasdaq's Bid Price Requirement
Jaguar Health, Inc. announces an extension of the grace period by Nasdaq for regaining compliance with the $1.00 bid price requirement. The company's phase 3 OnTarget trial of crofelemer for preventing cancer therapy-related diarrhea is ongoing, with top-line results expected soon.
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The company is facing potential delisting from Nasdaq if it fails to meet the $1.00 bid price requirement by August 13, 2024.
The extension of the grace period for Jaguar Health, Inc. to meet Nasdaq's bid price requirement is a temporary relief for the company. It allows them more time to improve their stock performance and possibly avoid delisting. Investors should monitor the stock's closing bid price closely over the next months, as it needs to consistently hit the $1.00 mark for ten consecutive days. The company's ability to maintain the required bid price will be important for its continued listing and can affect investor confidence and liquidity of the stock.
The upcoming top line results from the Phase 3 OnTarget trial of crofelemer are significant. Crofelemer's potential as a preventative treatment for cancer therapy-related diarrhea could address a substantial unmet medical need. Positive results could lead to an increase in the company's market value and attract investment, as new treatments in the oncology space can be quite lucrative. However, the impact on the company's financial health will depend on the trial outcomes, regulatory approvals and the ability to successfully commercialize the treatment.
Investors should consider the broader implications of Jaguar's situation. The pharmaceutical market reacts to clinical trial results and positive news could significantly boost Jaguar's stock. However, the market is also sensitive to regulatory compliance and financial stability. The dual focus on regaining Nasdaq compliance and the clinical progress of crofelemer suggests that the company is at a critical juncture. The outcome of these events will likely have a synergistic effect on the company's valuation and investor sentiment.
04/08/2024 - 08:30 AM
Top line results forthcoming for company's phase 3 OnTarget trial of crofelemer for preventative treatment of cancer therapy-related diarrhea
SAN FRANCISCO, CA / ACCESSWIRE / April 8, 2024 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") today announced that on April 5, 2024 the Company received formal notice that the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") has granted Jaguar an additional grace period, through August 13, 2024, to regain compliance with the $1.00 b id price requirement for continued listing on The Nasdaq Capital Market. To evidence compliance, the Company must report a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days on or before August 13, 2024.
"We are pleased to have obtained additional time from Nasdaq to evidence compliance with the bid price requirement," said Lisa Conte, Jaguar's president and CEO. "As reported on February 23, 2024, Jaguar requested a hearing to appeal a potential delisting of the Company's securities from Nasdaq, and a hearing was scheduled. Because we have been granted the additional grace period, this hearing will no longer occur."
Jaguar's paramount near-term clinical activity is the Company's Phase 3 pivotal OnTarget
The Company's common stock will continue to trade on Nasdaq under the symbol ‘JAGX' pending the ultimate decision of any appeal process, and Jaguar's board remains committed to taking all required steps to remain in compliance with Nasdaq's listing standards.
About the Jaguar Health Family of Companies
Jaguar Health, Inc. (Jaguar) is a commercial stage pharmaceuticals company focused on developing novel proprietary prescription medicines sustainably derived from plants from rainforest areas for people and animals with gastrointestinal distress, specifically associated with overactive bowel, which includes symptoms such as chronic debilitating diarrhea, urgency, and bowel incontinence. Jaguar family company Napo Pharmaceuticals focuses on developing and commercializing human prescription pharmaceuticals for essential supportive care and management of neglected gastrointestinal symptoms across multiple complicated disease states. Napo Pharmaceuticals' crofelemer drug product candidate is the subject of the OnTarget study, a pivotal Phase 3 clinical trial for preventive treatment of chemotherapy-induced overactive bowel (CIOB) in adults with cancer on targeted therapy. Jaguar family company Napo Therapeutics is an Italian corporation Jaguar established in Milan, Italy in 2021 focused on expanding crofelemer access in Europe and specifically for orphan and/or rare diseases. Jaguar Animal Health is a Jaguar tradename. Magdalena Biosciences, a joint venture formed by Jaguar and Filament Health Corp. that emerged from Jaguar's Entheogen Therapeutics Initiative (ETI), is focused on developing novel prescription medicines derived from plants for mental health indications.
For more information about:
Jaguar Health, visit https://jaguar.health
Napo Pharmaceuticals, visit www.napopharma.com
Napo Therapeutics, visit napotherapeutics.com
Magdalena Biosciences, visit magdalenabiosciences.com
Visit Jaguar on LinkedIn: https://www.linkedin.com/company/jaguar-health/
Visit Jaguar on X: https://twitter.com/Jaguar_Health
Visit Jaguar on Instagram: https://www.instagram.com/jaguarhealthcommunity/
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements." These include statements regarding Jaguar's expectation that top line results from the OnTarget study are forthcoming. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "aim," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this release are only predictions. Jaguar has based these forward-looking statements largely on its current expectations and projections about future events. These forward-looking statements speak only as of the date of this release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond Jaguar's control. Except as required by applicable law, Jaguar does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
Contact:
hello@jaguar.health
SOURCE: Jaguar Health, Inc.
press release on accesswire.com
What is the purpose of Jaguar Health's phase 3 OnTarget trial?
The purpose of the phase 3 OnTarget trial is to evaluate crofelemer for the preventative treatment of cancer therapy-related diarrhea.
What is the deadline for Jaguar Health to regain compliance with Nasdaq's bid price requirement?
Jaguar Health must report a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days on or before August 13, 2024.
What symbol does Jaguar Health's common stock trade under on Nasdaq?
Jaguar Health's common stock trades under the symbol 'JAGX' on Nasdaq.
Who is Jaguar Health's president and CEO?
Lisa Conte is the president and CEO of Jaguar Health.
