Jaguar Health Inc (NASDAQ:JAGX) reported revenues of $6.3 million in Q2 2020. Mytesi contributed net revenues of $3.2 million in Q2 2020. The number of Mytesi bottles sold increased by 103% YoY this quarter.
Virtual DDEE in October
Jaguar will hold a virtual DDEE (Diarrhea Dialogues Disease Education Event) for business development contacts and investors on October 20, 2020. Patient advocates, leading oncologists, and supportive care experts will take part in this virtual summit to address supportive care importance for people with chronic lower GI tract distress.
Enters amendment to accounts receivable agreement
Jaguar together with Napo Pharmaceuticals Inc, it’s wholly subsidiary, inked a second amendment to the accounts receivable purchase accord with Oasis (Oasis Capital LLC) on May 12, 2020. As per the terms of the pact, Oasis agreed to acquire accounts receivable for Mytesi products’ sales to Cardinal Health. It covers $3152 million between June 29, 2020, and August 4, 2020.
The CEO of Jaguar, Lisa Conte, said the company is excited to enter a pact with Oasis to bring in the non-dilutive capital and improve the business’s positive cash flow. The company will pay a fee of 5.45% of the accounts receivable to Oasis.
Seeks approval of Crofelemer
Jaguar seeks the approval of Crofelemer to cure dogs suffering from chemotherapy-induced diarrhea (CID). The company submitted the final regulatory filing to the CVM (Center for veterinary medicine) of the US FDA.
In the US, over 230,000 dogs are receiving chemotherapy every year for various cancer treatments. Over 50,000 dogs suffer from side effects – diarrhea during this treatment. No FDA approved treatment currently exists in the US to treat CID in dogs.
Lisa said its innovative therapy will improve comfort for the dogs by curing debilitating diarrhea. It also improves the tolerance of chemotherapy in dogs. Dog owners will enjoy a comfortable living environment on curing CID in dogs. Crofelemer is a plant-based medicine developed for oral administration. Napo Pharmaceuticals engages in the marketing of Crofelemer (Mytesi).
Activation of IND for Mytesi
Jaguar said IND application for Crofelemer submitted by Napo with the FDA is activated to provide symptomatic and prophylaxis relief in adults, who are undergoing treatment for solid tumors, suffering from diarrhea.