Jaguar Health Inc. (JAGX) stock surged by 3.45% in the last trading closed as well as the JAGX stock continued to rise by 9.44% in the after-hour after Jaguar Health announced its full year 2020 financial results. Jaguar Health, the pharmaceutical company is dedicated towards developing innovative, plant-based, non-opioid, and sustainably derived pharmaceutical drugs for people and animals who are suffering from gastrointestinal distress, especially chronic, debilitating diarrhea. The Mytesi product is the only oral plant-based prescribed drug approved under FDA Botanical Guidelines for the effective treatment of noninfectious diarrhea in adults with HIV/AIDS who are on antiretroviral therapy.
2020 Financial Results
- For the year 2020 Mytesi net sales were around $9.3 million and Mytesi gross sales have been calculated as $20.4 million, this is an increase of 64% and 148% respectively compared to the previous year.
- The net operating expense generated for the year 2020 was $36.0 million while it was $34.7 million for the year 2019. The operating has increased by 4% from the previous year.
- JAGX’s total cost of product revenue was $3.3 million compared to $3.8 million from the year 2019 that means it is a decrease of 14%.
- The General and Administrative expense was $14.4 million for the year 2020 whereas the G&A expense for the previous year was $13.5 million that means it has increased.
- The R&D expense of JAGX stock for 2020 was $6.4 million, relative to $5.8 million in 2019, a rise of 10%, or $0.6 million, year over year. Other expenditures of $0.9 million, mostly consulting, formulation, and regulatory fees, contributed to the rise.
- Lastly the net loss faced by JAGX stock for the year 2020 was $33.8 million which has also decreased relative to the previous year where net loss was $38.5 million.
Other Recent Development
On March 30, 2021, JAGX stock announced that it supports the main sponsor’s choice of investment bank and nominated advisor (“NOMAD”) for the proposed Dragon special purpose acquisition company. The Dragon SPAC plans to list on the AIM Italia exchange and merge with its named goal, Napo EU S.p.A. which is the Dragon SPAC’s Italian subsidiary.
After the upcoming holidays, during the week of April 5th, more details on the Dragon SPAC’s banking engagement, including the Dragon SPAC’s selection of its necessary NOMAD, will be published. A NOMAD is a necessary financial services firm that will assist and help the issuer, the Dragon SPAC, in complying with Borsa Italiana’s IPO process for AIM Italia listing.