Jaguar Health Inc Stock Price, News & Analysis

Jaguar Health announced the approval of all proposals at its Annual Meeting of Stockholders held on June 21, 2024. Five proposals were submitted and approved, details of which are available in the company's proxy statement filed with the SEC. Jaguar will report results from its pivotal phase 3 OnTarget trial for the cancer supportive care drug crofelemer by July 23, 2024. An investor webcast on or before this date will include updates on Jaguar's cancer supportive care portfolio, featuring insights from the scientific team, patient advocates, and oncology experts. In celebration of World Rainforest Day on June 22, Jaguar shared a RealPharma podcast interview with Dr. Steven King, highlighting his ethnobotanical research and the medicinal use of plants by indigenous Amazonian communities.

Jaguar Health announced it will release the results of its phase 3 OnTarget trial for crofelemer, aimed at preventing diarrhea in cancer patients, by July 23, 2024. The study involves patients with solid tumors undergoing targeted therapy, with or without chemotherapy. An investor webcast will present the trial results and updates on Jaguar's cancer supportive care initiatives. Key points include Jaguar's in-license of Gelclair for oral mucositis, a commercialization deal with GEN for crofelemer in Turkey, and the 'Make Cancer Less Shitty' advocacy program. The company emphasizes the importance of supportive care in improving cancer patients' quality of life.

Jaguar Health announced a new employee inducement grant under Nasdaq Listing Rule 5635(c)(4), effective June 4, 2024. The company has granted 1,111 restricted stock units (RSUs) to a new employee, which will vest over one year. This grant, approved by Jaguar's Compensation Committee, was made to attract the new hire. The vesting of these RSUs is contingent upon the employee's continued service with Jaguar through the vesting period.

Jaguar Health has announced an out-licensing agreement with Magdalena Biosciences for a botanical drug candidate aimed at treating schizophrenia. This drug shows antipsychotic activity with a unique mechanism of action compared to current FDA-approved therapies. Under the deal, Jaguar will receive 10% of all upfront and milestone payments, excluding certain commercial milestones and R&D reimbursements. Additionally, Jaguar will earn royalties on net sales if the drug is FDA-approved and commercialized. The U.S. schizophrenia market is forecasted to reach $8.06 billion by 2030. Jaguar will present at the Lytham Partners Spring 2024 Investor Conference on May 30.

Jaguar Health announced that a third-party, investigator-initiated study of its plant-based drug, crofelemer, showed positive results for treating functional diarrhea. The study revealed that twice-daily oral doses of crofelemer significantly reduced abdominal pain and improved stool consistency compared to a placebo. Functional diarrhea, a chronic condition affecting 4.7% of adults globally, currently lacks effective treatments. Napo Pharmaceuticals, a subsidiary of Jaguar, is planning to submit an abstract of the study to a peer-reviewed journal. Crofelemer is derived from the red bark sap of the Croton lechleri tree, harvested sustainably in the Amazon Rainforest.

Jaguar Health (NASDAQ: JAGX) is expanding its commercial footprint in cancer supportive care. The company will showcase Gelclair, an FDA-approved product for oral mucositis, at the ASCO Annual Meeting from May 31 to June 4. Gelclair, which Jaguar licensed for the U.S. market, is set for commercial launch in Q3 2024. Oral mucositis, a painful side effect of cancer treatment, affects up to 90% of head and neck cancer patients. Jaguar is also nearing top-line results for its phase 3 OnTarget trial of crofelemer to prevent cancer therapy-related diarrhea.

With 18 million Americans living with a cancer diagnosis, and over 2 million new cases expected in 2024, Jaguar's focus on improving cancer patient quality of life is significant. The company emphasizes Gelclair's ability to manage pain without numbing or stinging, potentially reducing hospitalizations and treatment interruptions. The economic impact of oral mucositis is considerable, with costs exceeding $17,000 for head and neck cancer patients.

Jaguar Health will implement a 1-for-60 reverse stock split of its common stock on May 23, 2024, following approval at the April 2024 Special Meeting of Stockholders. The split aims to support compliance with Nasdaq listing standards and attract institutional investors. Post-split, the stock will trade under the symbol JAGX with a new CUSIP number: 47010C805. Fractional shares will be settled in cash.

Equiniti Trust Company will handle the exchange process for stockholders holding certificates. No action is required for those with shares in brokerage accounts.

Jaguar Health (NASDAQ:JAGX) reported a 20% increase in net revenue for Q1 2024, amounting to $2.4 million compared to $2.0 million in Q1 2023, and a 4% increase from Q4 2023. The company is set to release top-line results from its Phase 3 OnTarget trial for crofelemer, aimed at treating cancer therapy-related diarrhea. A commercial launch for the FDA-approved oral mucositis product Gelclair is planned for Q3 2024. Despite a reduction in Mytesi prescription volumes, the company achieved a net loss reduction of 24%, equating to $9.2 million, compared to $12.2 million in Q1 2023. Operational loss decreased by 17%, from $9.8 million to $8.2 million, due to reductions in R&D, sales, marketing, and administrative expenses. However, the overall cost of product revenue increased slightly.

Jaguar Health, Inc. (NASDAQ: JAGX) will hold an investor webcast on May 14, 2024, to discuss Q1 2024 financials and corporate updates.