SAN FRANCISCO - Jaguar Health, Inc. (NASDAQ:JAGX) announced that it will release the results of its phase 3 OnTarget clinical trial for the drug crofelemer, aimed at cancer supportive care, by July 23, 2024. The company also plans to hold an investor webcast by the same date to provide updates on its cancer supportive care portfolio.
The OnTarget trial is focused on the preventive treatment of cancer therapy-related diarrhea (CTD), a common and often debilitating side effect of cancer treatments. The upcoming webcast is expected to feature discussions with Jaguar's scientific team, patient advocates, and leading oncologists, shedding light on the challenges of CTD and oral mucositis.
On the occasion of World Rainforest Day, Jaguar's CEO, Lisa Conte, expressed pride in sharing a podcast interview with Dr. Steven King, the company's Chief Sustainable Supply, Ethnobotanical Research, and IP Officer. The interview, part of the RealPharma podcast series, delves into the role of ethnobotany in global health and the sustainable sourcing of plant-based medicines from rainforests.
Jaguar Health is a commercial stage pharmaceuticals company that develops plant-derived prescription medicines for gastrointestinal distress associated with overactive bowel conditions. Its subsidiary, Napo Pharmaceuticals, markets crofelemer under the brand name Mytesi® for noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy.
The company's expansion into Europe is facilitated by Napo Therapeutics, based in Milan, Italy, which aims to increase crofelemer access for orphan and/or rare diseases. Additionally, Jaguar's joint venture with Filament Health Corp., Magdalena Biosciences, is working on developing plant-based prescription medicines for mental health indications.
In other recent news, Jaguar Health, Inc. has announced two significant developments. The pharmaceutical company reported a 20% year-over-year increase in net revenue for the first quarter of 2024, with revenues surging to approximately $2.4 million. In addition to this promising financial performance, the company is eagerly anticipating the upcoming results from its pivotal Phase 3 OnTarget trial for its drug Crofelemer, used for cancer therapy-related diarrhea prophylaxis.
Simultaneously, Jaguar Health is implementing a 1-for-60 reverse stock split to maintain compliance with Nasdaq's listing standards and potentially attract a broader range of investors. This decision, approved by a majority of voting power from common and Series J Perpetual Preferred stockholders, will see every sixty shares of Jaguar Health's common stock consolidate into one share.
These are recent developments for Jaguar Health, which is also expanding into cancer supportive care by in-licensing the FDA-approved oral mucositis prescription product Gelclair. Despite a decrease in prescription volume, the company managed to reduce its operational losses and overall net loss, indicating a positive direction for its financial health. These developments, combined with the company's strategic focus on plant-based pharmaceuticals, continue to shape its growth strategy.
InvestingPro Insights
As Jaguar Health, Inc. (NASDAQ:JAGX) gears up for the release of its phase 3 OnTarget clinical trial results, investors may be scrutinizing the company's financial health and market performance. According to InvestingPro data, Jaguar Health currently holds a market capitalization of $21.4 million. Despite the company's efforts in expanding its pharmaceutical offerings, analysts provided by InvestingPro suggest that Jaguar Health is not expected to be profitable this year, reflecting the company's ongoing investment in research and development.
InvestingPro Tips indicate that Jaguar Health's stock is currently in oversold territory, which could attract investors looking for a potentially undervalued opportunity. Additionally, the stock is known for its high price volatility, which may appeal to traders seeking short-term gains, although it also implies a higher risk level.
With the company's revenue in the last twelve months showing a decline of 10.29%, and the stock experiencing a significant price drop of 86.21% over the last year, these metrics underscore the challenges Jaguar Health faces in the market. It's important for investors to consider these factors, along with the company's strategic moves, such as the expansion into Europe and the development of new treatments for gastrointestinal distress and mental health indications.
For those interested in a deeper dive into Jaguar Health's performance and future prospects, InvestingPro offers additional tips and insights. There are currently 9 more InvestingPro Tips available for Jaguar Health, which can be accessed at https://www.investing.com/pro/JAGX. Readers looking to leverage these insights can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a more comprehensive investment analysis toolkit.
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