on Jaguar Health, Inc. (NASDAQ:JAGX)
Jaguar Health Reports First Quarter 2024 Financial Results
Jaguar Health, Inc. announced a first-quarter 2024 revenue increase of approximately 20% from the first quarter of 2023, reaching approximately $2.4 million. This also marks about a 4% increase from the fourth quarter of 2023. The revenue comprises sales from both prescription products, Mytesi® and Canalevia®-CA1, and non-prescription products. The company, based in San Francisco, anticipates imminent top-line results from its phase 3 OnTarget trial of crofelemer aimed to prevent cancer therapy-related diarrhea.
Jaguar recently secured an exclusive 5-year in-license agreement for Gelclair®, an oral mucositis treatment, planning a commercial launch in Q3 2024. Lisa Conte, Jaguar’s CEO, highlighted the expansion into cancer-related supportive care, leveraging the existing model of HIV-related supportive care.
Financially, the company's operational loss decreased by approximately 17% in Q1 2024 compared to Q1 2023, and the net loss per share saw a 97% decrease. Research and Development as well as Sales and Marketing expenses both saw substantial decreases due to cost-saving measures and a focus on more cost-effective patient support services and other marketing initiatives.
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