Jaguar Health Reports Approval of All Proposals at April 2024 Special Meeting of Stockholders
Jaguar Health, Inc. announces the voting results of the Special Meeting of Stockholders, approval of four proposals, and the extension of the grace period by Nasdaq. The company will not implement a reverse split at this time. Top line results for the Phase 3 OnTarget trial of crofelemer for cancer therapy-related diarrhea are expected soon.
Jaguar Health's announcement regarding the absence of a reverse stock split and the extension of the grace period to meet Nasdaq's $1.00 bid price requirement indicates a strategic decision by the company's management to avoid immediate dilution of shareholder value. This decision suggests a level of confidence in the company's ability to organically improve stock price, possibly linked to the anticipated success of the Phase 3 OnTarget trial of crofelemer.
Investors should note that the company's ability to maintain its Nasdaq listing without a reverse split could be a positive sign, as it implies management's belief in potential value-driving events in the near term. However, the risk of non-compliance remains if the stock price does not recover, which could lead to volatility and speculative trading behavior.
The upcoming top line results from the Phase 3 OnTarget trial of crofelemer are significant for Jaguar Health. The trial's success could not only validate the efficacy of crofelemer as a preventative treatment for cancer therapy-related diarrhea but also potentially open up a new market segment for the company. This indication addresses a common and distressing side effect of cancer treatment, which currently has limited options for prophylaxis.
Investors should consider the implications of the trial's outcome on the company's future revenue streams and market positioning. A successful trial could lead to increased interest from healthcare providers and patients, while failure might result in a setback for the company's growth strategy.
Understanding the market dynamics for cancer supportive care products is important for evaluating Jaguar's potential growth. The demand for treatments that can prevent side effects of cancer therapy, such as diarrhea, is growing as the global cancer incidence rises. Should crofelemer prove effective, Jaguar may capture a significant share of this niche market, which is currently underserved.
Market adoption will depend on factors such as the drug's cost-effectiveness, reimbursement policies and competition from other treatments. Investors should monitor the market's response to the trial results, as it will influence Jaguar's commercial strategy and partnership opportunities.
04/09/2024 - 04:15 PM
Company not implementing a reverse split at this time
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 9, 2024 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") today announced the voting results of the Company's Special Meeting of Stockholders held on April 9, 2024 (the "Special Meeting").
Four proposals were submitted to and approved by the stockholders of the Company at the Special Meeting. The proposals are described in detail in the Company's definitive proxy statement on Schedule 14A relating to the Special Meeting and supplemental information filed with the Securities and Exchange Commission on March 15, 2024. Stockholders may obtain a free copy of the proxy statement and other documents filed by Jaguar with the SEC at http://www.sec.gov . The proxy statement is also available on the Company's corporate website.
"As we announced last week, the Company received formal notice that the Listing Qualifications Staff of The Nasdaq Stock Market LLC 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. Although we do not intend to effect a reverse split of the Company's issued and outstanding voting common stock at the present time, seeking the discretion to implement actions, if necessary to maintain Jaguar's Nasdaq listing, is an important responsibility of the Board, and we are grateful to our shareholders for voting to approve the related proposal," said Lisa Conte, Jaguar's president, and CEO.
Jaguar's paramount near-term clinical activity is the Company's Phase 3 pivotal OnTarget trial of crofelemer for the follow-on indication of the preventative treatment of cancer therapy-related diarrhea. Top line results from this pivotal study are forthcoming.
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 were the voting results of Jaguar Health, Inc.'s Special Meeting of Stockholders?
The voting results of the Special Meeting of Stockholders were announced, with four proposals being submitted and approved by the stockholders.
Is Jaguar Health, Inc. implementing a reverse split at this time?
Jaguar Health, Inc. is not implementing a reverse split at this time.
What is the focus of Jaguar Health, Inc.'s near-term clinical activity?
Jaguar Health, Inc.'s paramount near-term clinical activity is the Phase 3 pivotal OnTarget trial of crofelemer for the preventative treatment of cancer therapy-related diarrhea.
What is the extended grace period granted to Jaguar Health, Inc. by Nasdaq?
The Listing Qualifications Staff of The Nasdaq Stock Market has granted Jaguar Health, Inc. an additional grace period through August 13, 2024, to regain compliance with the $1.00 bid price requirement for continued listing on The Nasdaq Capital Market.
