Jaguar Health Satisfies Conditions for Receipt of Non-Dilutive $2 Million Holdback Payment from Future Pak for Commercial License to Mytesi and Canalevia-CA1
Jaguar Health Satisfies Conditions for Receipt of Non-Dilutive $2 Million Holdback Payment from Future Pak for Commercial License to Mytesi and Canalevia-CA1
Jaguar Health (NASDAQ:JAGX) announced that it has satisfied the conditions to receive a non-dilutive $2 million holdback payment from Future Pak related to a January 2026 U.S. commercial licensing agreement for Mytesi and Canalevia-CA1. Jaguar previously received a partial upfront fee of $16 million at closing and an additional $3 million payment in March 2026, and, according to the company, may receive up to $17 million more in milestone and other future payments under the agreement.
Future Pak is the exclusive U.S. marketer for Mytesi, approved for noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy, and Canalevia-CA1, for chemotherapy-induced diarrhea in dogs. Jaguar highlighted that this deal supports its focus on developing liquid oral crofelemer for rare intestinal failure (IF) conditions such as microvillus inclusion disease (MVID) and short bowel syndrome (SBS-IF). At ESPGHAN 2026, Jaguar’s subsidiary Napo reported ongoing investigational data in pediatric IF patients showing reductions in parenteral support normalized to body weight of up to 48% in one MVID patient and up to 40% in two SBS-IF patients after more than 12 months of high-dose liquid oral crofelemer, with no significant clinical or laboratory abnormalities reported.
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Positive
Non-dilutive $2 million holdback payment conditions satisfied
Previously received non-dilutive upfront fee of $16 million
Additional $3 million payment received in March 2026
Remaining potential milestone and other payments up to $17 million
Exclusive U.S. marketing partner for Mytesi and Canalevia-CA1 in place
Reported PS reduction up to 48% in one MVID patient after >12 months therapy
Reported PS reduction up to 40% in two SBS-IF patients after >12 months therapy
Negative
None.
News Explained
Although the headline describes receipt, Jaguar’s body text says it has met the post-closing conditions for the $2 million holdback, making the payment due rather than confirming it was paid; it separately reports receiving $16 million at closing and $3 million in March.
Market reaction after commercial license payment: JAGX +5.50% in the Aug 5 session
+5.50%1.8x vol
11 alerts
+5.50%Session close to close
+3.8%Peak Tracked
-11.4%Trough Tracked
$5.35MMarket Cap
1.8xRel. Volume
In the Aug 5 session, JAGX gained 5.50%, reflecting a notable positive market reaction.
Argus tracked a peak move of +3.8% during that session.
Argus tracked a trough of -11.4% from its starting point during tracking.
Our momentum scanner triggered 11 alerts that day, indicating notable trading interest and price volatility.
Trading volume was above average at 1.8x the daily average, suggesting increased trading activity.
The stock moved +5.5% in the session following this news. Historical event 1085231 recorded a 5.56% ...
Analysis
The stock moved +5.5% in the session following this news. Historical event 1085231 recorded a 5.56% 24-hour reaction to related crofelemer data. A strong positive scenario would weigh this non-dilutive payment against Jaguar's effective S-3 shelf, expiring October 3, 2028, as a financing-related risk.
Key Figures
Upfront payment:$16 millionHoldback payment:$2 millionAdditional payment:$3 million+5 more
8 metrics
Upfront payment$16 millionJanuary 2026 Future Pak license agreement
Holdback payment$2 millionPayment due after completion of post-closing conditions
Additional payment$3 millionReceived from Future Pak in March 2026
Remaining paymentsup to $17 millionAdditional milestone payments and other future payments
MVID PS reductionup to 48%One patient after more than 12 months of liquid oral high-dose crofelemer
SBS-IF PS reductionup to 40%Two pediatric patients after more than 12 months of liquid oral high-dose crofelemer
Treatment durationmore than 12 monthsLiquid oral high-dose crofelemer therapy
Planned NDA filingmid-2027Crofelemer for microvillus inclusion disease
Canalevia-CA1 approval application submission was followed by a negative 24-hour price reaction.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Positive announcements produced mixed reactions, with three of five historical events diverging from the stock response.
Key Terms
non-dilutive capital, breakthrough therapy designation, nda, total parenteral nutrition, +2 more
6 terms
non-dilutive capitalfinancial
"Jaguar received an upfront payment of $16M of non-dilutive capital"
Funding that does not require a company to issue new shares or reduce existing owners’ percentage of ownership, such as grants, certain loans, licensing deals, or customer prepayments. It matters to investors because it preserves each shareholder’s stake and per-share value—like getting a loan or a gift instead of selling part of the company—while still carrying obligations (repayment, milestones, or restrictions) that can affect future cash flow and growth.
breakthrough therapy designationregulatory
"plans to apply for Breakthrough Therapy Designation for crofelemer"
A breakthrough therapy designation is a regulatory fast-track given to a drug or treatment that shows early signs of providing a major improvement over existing options for a serious condition. Think of it as a VIP lane that can speed up development and more intensive guidance from regulators, which matters to investors because it can shorten time to market, reduce development risk and potentially increase a company’s value — though it does not guarantee approval.
ndaregulatory
"planned filing of an NDA (New Drug Application) with the U.S. Food"
An NDA, or nondisclosure agreement, is a legal contract that keeps certain information private between parties. It’s like a promise not to share sensitive details, helping protect business ideas, strategies, or data from being leaked or used without permission. For investors, NDAs help ensure that confidential information remains secure, enabling trust and open communication during business discussions.
total parenteral nutritionmedical
"require lifelong total parenteral nutrition (TPN)"
Total parenteral nutrition is a medical treatment that supplies all needed calories, fluids, vitamins and minerals directly into a patient’s bloodstream through an IV, bypassing the digestive tract — like a complete meal delivered by a drip. It matters to investors because TPN relies on specialized ingredients, preparation and delivery services with steady hospital and home-care demand, significant regulation and reimbursement exposure, and potential for durable revenue or risk from supply-chain or clinical issues.
parenteral supportmedical
"which together comprise parenteral support (PS)"
Parenteral support is medical care that delivers nutrition, fluids or medications directly into a patient’s bloodstream or body tissues, bypassing the digestive system—think of it as feeding or hydrating someone through an IV rather than by mouth. Investors care because this service involves specialized products, durable revenue from long-term patient use, strict safety and reimbursement rules, and potential regulatory or supply risks that affect company earnings and growth.
microvillus inclusion diseasemedical
"intestinal failure (IF) due to microvillus inclusion disease (MVID)"
A rare, inherited condition in which the tiny, brush-like hairs on the inner lining of the small intestine are absent or abnormal, causing severe, lifelong diarrhea and inability to absorb nutrients. Think of the intestine’s surface as a shaggy carpet that helps soak up food; when those fibers are missing or disorganized, patients often need long-term intravenous feeding and specialized care. For investors, the disease matters because it creates clear demand for diagnostics, nutritional support, transplant solutions, and targeted therapies in the orphan-disease market.
As announced, Jaguar received an upfront payment of $16M of non-dilutive capital in January 2026 upon entering U.S. license agreement with Future Pak for Mytesi® and Canalevia®-CA1 - Jaguar's two commercialized crofelemer drugs - an agreement that is fully aligned with company's strategy to concentrate crofelemer development efforts on human rare-disease intestinal failure (IF) indications
Presentation at ESPGHAN 2026 described additional groundbreaking results of evaluation of crofelemer as adjunctive oral therapy for the treatment of pediatric IF, which demonstrate reduction of parenteral support normalized to body weight of up to 48% in patient with the ultrarare microvillus inclusion disease (MVID)
SAN FRANCISCO, CA / ACCESS Newswire / August 5, 2026 / Jaguar Health, Inc.(NASDAQ:JAGX) ("Jaguar") today announced that its wholly-owned subsidiary Napo Pharmaceuticals, Inc. (collectively, with Jaguar Health, Inc., "Jaguar") has satisfied the conditions required to receive payment of the non-dilutive $2 million holdback amount from Future Pak, LLC ("Future Pak") related to the U.S. commercial licensing agreement Jaguar entered in January 2026 with a Future Pak affiliate. As announced, Jaguar was provided with a partial upfront fee of $16 million of non-dilutive capital upon closing of the agreement. Per the terms of the agreement, the additional $2 million portion of the upfront fee ("the Holdback Amount") is due to Jaguar upon Jaguar's completion of specified post-closing conditions, which the company has met.
Upon the closing of the agreement, Future Pak became the exclusive marketer for Mytesi (crofelemer), Jaguar's FDA-approved novel prescription drug for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy, and Canalevia-CA1, Jaguar's crofelemer prescription drug for the treatment of chemotherapy-induced diarrhea in dogs. As announced in March 2026, Jaguar received an additional $3 million payment from Future Pak related to the agreement and, per the terms of the agreement, Jaguar has the remaining opportunity to receive up to $17 million in additional milestone payments and other future payments.
"Our agreement with Future Pak is fully aligned with our sharp focus on our global development program for our novel liquid oral crofelemer formulation as adjunctive treatment for the management of rare IF conditions such as MVID and short bowel syndrome (SBS-IF)," said Lisa Conte, Jaguar's founder, president, and CEO. "Our IF program is expected to continue to provide clinical milestones and is the subject of business development discussions with the potential to bring in non-dilutive funds from potential licensee partners. If appropriate, Jaguar plans to apply for Breakthrough Therapy Designation for crofelemer for the indication of MVID, with a planned filing of an NDA (New Drug Application) with the U.S. Food and Drug Administration (FDA) for this indication in mid-2027."
As announced, in June 2026 Napo provided additional data at the 58th Annual European Society for Pediatric Gastroenterology, Hepatology & Nutrition (ESPGHAN) Meeting in Lille, France from ongoing investigational studies with oral liquid crofelemer in pediatric patients with IF due to MVID and SBS-IF. Since IF patients cannot orally absorb adequate nutrients, electrolytes and fluids, they require lifelong total parenteral nutrition (TPN) with or without supplemental intravenous fluids, which together comprise parenteral support (PS), for up to seven days per week and up to 20+ hours per day. MVID has a lethal natural history and while PS is supportive, palliative and life-sustaining, it is associated with serious complications including liver and kidney toxicities, and compromised cognitive functioning, and can have negative impact on growth and survival.
As presented at ESPGHAN 2026, the results of ongoing investigations of liquid oral crofelemer demonstrate substantial reductions of PS and PS normalized to body weight in pediatric IF patients dosed orally for more than one year, with no significant clinical or laboratory abnormalities. In one MVID patient, the weekly PS requirements normalized to body weight have been reduced by up to 48% following >12 months of liquid oral high-dose crofelemer therapy.In two pediatric SBS-IF patients, weekly PS requirements normalized to body weight were reduced up to 40% following >12 months of liquid oral high dose crofelemer therapy.
About Crofelemer Crofelemer is a novel, oral plant-based prescription medicine purified from the red bark sap, also referred to as "dragon's blood," of the Croton lechleri tree in the Amazon Rainforest. Napo Pharmaceuticals has established a sustainable harvesting program, under fair trade practices, for crofelemer to ensure a high degree of quality, ecological integrity, and support for indigenous communities.
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. Jaguar family companies Napo Pharmaceuticals, Inc. (Napo) and Napo Therapeutics S.p.A. focus on the development and commercialization of novel crofelemer powder for oral solution for the treatment of rare and orphan gastrointestinal disorders with intestinal failure, including microvillus inclusion disease and short bowel syndrome.
Certain statements in this press release constitute "forward-looking statements." These include statements regarding Jaguar's opportunity to receive up to $17 million in additional milestone payments and other future payments related to its U.S. licensing agreement with Future Pak, Jaguar's expectation that its IF program will continue to provide clinical milestones, Jaguar's expectation that the opportunity may exist to bring in non-dilutive funds from potential licensee partners to support the IF program, Jaguar's plans to pursue Breakthrough Therapy designation for crofelemer for the indication of MVID, and Jaguar's expectation that the company will file an NDA with the FDA for the MVID indication in mid-2027. 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 several 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.
What did Jaguar Health (NASDAQ:JAGX) announce on August 5, 2026 about the $2 million Future Pak holdback?
Jaguar Health announced it has met the conditions to receive a non-dilutive $2 million holdback payment from Future Pak. According to Jaguar, this payment relates to its January 2026 U.S. commercial licensing agreement for Mytesi and Canalevia-CA1 with a Future Pak affiliate.
How much non-dilutive capital has Jaguar Health received so far under the Future Pak license for Mytesi and Canalevia-CA1 (JAGX)?
Jaguar Health reports receiving a $16 million partial upfront fee at closing and an additional $3 million payment in March 2026. The company has now satisfied conditions to receive a further non-dilutive $2 million holdback payment related to the same U.S. licensing agreement.
What remaining milestone payment opportunities does Jaguar Health (JAGX) have under its Future Pak agreement?
According to Jaguar, the company retains the opportunity to receive up to $17 million in additional milestone payments and other future payments. These amounts are tied to the January 2026 U.S. commercial licensing agreement for Mytesi and Canalevia-CA1 with a Future Pak affiliate.
What clinical data on crofelemer for pediatric intestinal failure did Jaguar Health present at ESPGHAN 2026?
Jaguar’s subsidiary Napo reported ongoing investigational data showing reductions in parenteral support normalized to body weight after over 12 months of liquid oral crofelemer. According to Jaguar, reductions reached up to 48% in one MVID patient and up to 40% in two SBS-IF patients.
When does Jaguar Health plan to file an NDA for crofelemer in microvillus inclusion disease (MVID)?
Jaguar Health plans to file a New Drug Application (NDA) for crofelemer for MVID in mid-2027. According to Jaguar, it may also seek Breakthrough Therapy Designation for this indication as part of its rare intestinal failure development program.
What role does Future Pak play in the commercialization of Mytesi and Canalevia-CA1 for Jaguar Health (JAGX)?
Upon closing the January 2026 agreement, Future Pak became the exclusive U.S. marketer for Mytesi and Canalevia-CA1. According to Jaguar, this arrangement supports its strategy to focus crofelemer development on rare human intestinal failure indications while Future Pak handles commercial marketing.
