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Jaguar Health, Inc. develops plant-derived prescription medicines for gastrointestinal disease states in people and animals. Its human-health news centers on crofelemer, including Mytesi for symptomatic relief of non-infectious diarrhea in adults with HIV/AIDS on antiretroviral therapy and rare-disease intestinal failure programs tied to microvillus inclusion disease and short bowel syndrome through Napo Pharmaceuticals and Napo Therapeutics.
Company updates also cover animal-health products such as conditionally approved Canalevia-CA1 for chemotherapy-induced diarrhea in dogs and the Neonorm franchise for gut health in animals. Recurring corporate news includes Nasdaq listing-compliance matters, reverse stock splits, warrant exercises, stockholder meetings, proxy proposals, and other capital-structure actions.
Jaguar Health (NASDAQ:JAGX) announced an upsizing of its at-the-market (ATM) financing program by $15.3 million on April 15, 2021. This increase aims to provide future funding, with the company stating it does not plan to issue shares immediately. The company is pursuing conditional marketing authorization for crofelemer for COVID-related diarrhea. Additionally, Jaguar is merging Napo EU with the Dragon SPAC, anticipated for mid-2021, which is expected to support clinical efforts related to diarrhea in cancer patients. An educational contest is also launching for HIV awareness.
Jaguar Health (NASDAQ:JAGX) announces the acceptance of an abstract related to cancer therapy-related diarrhea (CTD) for poster presentation at the 2021 ASCO Annual Meeting, scheduled for June 4-8, 2021. This abstract is from Napo Pharmaceuticals, a subsidiary of Jaguar. In total, three CTD-related abstracts have been accepted for the event. The ASCO meeting received over 5,400 submissions this year. The press release highlights the significance of addressing CTD, a common side effect of cancer therapies that can impact treatment adherence and patient outcomes.
Jaguar Health (NASDAQ:JAGX) announced an amendment to its equity purchase agreement with Oasis Capital, increasing the stock purchase price from $0.436 to $3.00 per share. This amendment allows Oasis to purchase up to $2.0 million of Jaguar common stock over a 36-month period. The new price reflects the stock's recent performance, providing Jaguar access to capital for working needs while focusing on becoming a cash flow positive business through its product, Mytesi. The company will also issue a warrant for 100,000 common shares to Oasis as part of this agreement.
Jaguar Health, Inc. (NASDAQ:JAGX) has promoted Carol Lizak to the role of chief financial officer. This decision reflects her significant contributions in finance and strategic planning since joining the company in May 2019. Lizak brings over 20 years of experience in financial roles across various companies, enhancing Jaguar's transition from an R&D focus to a commercial-stage entity. Jaguar specializes in plant-based, non-opioid medicines for gastrointestinal issues and is known for its Mytesi® product, which is FDA-approved for treating noninfectious diarrhea in adults with HIV/AIDS.
Jaguar Health, Inc. (NASDAQ:JAGX) announced employee inducement grants on March 26, 2021, allocating nonstatutory stock options totaling 2,000 to 35,000 shares to five new employees. The exercise price is set at $1.84 per share, reflecting the March 26 closing price. Vesting occurs over three years, with the first 25% vesting nine months post-hire. Grants were made to attract talent as per NASDAQ rules. Jaguar develops plant-based medicines focused on gastrointestinal conditions, notably offering Mytesi, an FDA-approved product for HIV/AIDS patients.
Jaguar Health reported strong financial results for 2020, with Mytesi net sales rising 64% to approximately $9.3 million and gross sales increasing 148% to around $20.4 million. Despite a 7% decline in total Mytesi unit sales volume, the company saw a 12% reduction in net loss, totaling $33.8 million. Operating expenses grew by 4% year-over-year, primarily due to a rise in inducement expenses. Jaguar's focus on R&D remains evident with expenses of $6.4 million, reflecting ongoing development of Mytesi indications.
Jaguar Health, Inc. (NASDAQ:JAGX) has announced its support for the selection of the investment bank and nominated advisor for the proposed merger of the Dragon SPAC with its Italian subsidiary, Napo EU. This merger is anticipated to list on AIM Italia. Additionally, Jaguar's subsidiary conducted a meeting with the EU regulatory authority regarding crofelemer for COVID-related diarrhea, indicating the presence of unmet medical needs in this domain. Regulatory approval would allow for a conditional marketing authorization, utilizing safety data from Napo's approved US NDA.
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Jaguar Health has incorporated its subsidiary, Napo EU, in Italy to combat inflammatory diarrhea linked to long-hauler syndrome post-COVID-19, primarily in Europe. The subsidiary is the target of a forthcoming merger with the Dragon SPAC, expected to list on AIM Italia. CEO Lisa Conte announced the search for key management roles and ongoing regulatory efforts to gain conditional marketing authorization from the European Medicines Agency (EMA).
Jaguar Health has signed a definitive agreement for a $5 million non-dilutive royalty financing transaction, related to future sales of crofelemer (Mytesi) for a COVID-related indication targeting long-hauler patients. This financing will support regulatory activities and the development pipeline for crofelemer. The company is also identifying key opinion leaders in the US and Europe to address symptoms affecting COVID-19 survivors. With no royalty payments due for 36 months, Jaguar aims to leverage this opportunity to explore the growing market of long-hauler syndrome.