Jaguar’s Post-Merger Market Cap Expected to
be Updated on Nasdaq.com and Other Web-based Financial Data
Platforms Later this Month
Jaguar Health, Inc. (NASDAQ:JAGX) (Jaguar), a natural-products
pharmaceuticals company focused on developing and commercializing
novel, sustainably derived gastrointestinal products for both human
prescription use and animals on a global basis, provided the
following general updates today regarding the post-merger
transition process.
As previously announced, the merger of Jaguar Animal Health,
Inc. and Napo Pharmaceuticals, Inc. (Napo) became effective July
31, 2017 (Merger), at which point Jaguar Animal Health’s name
changed to Jaguar Health, Inc. and Napo began operating as a
wholly-owned subsidiary of Jaguar focused on human health and the
ongoing commercialization of, and development of follow-on
indications for, Mytesi®.
Jaguar’s company name is now updated on Nasdaq.com, and it is
expected that Jaguar’s market capitalization figure will be updated
on Nasdaq.com and on third-party Web-based financial data platforms
like Yahoo Finance later this month. The term “market
capitalization” refers to the total market value of a company's
outstanding shares of voting common stock, and is commonly referred
to as a company’s "market cap". As of today, Jaguar’s quantity of
outstanding shares of voting and non-voting common stock has
increased to approximately 67.7 million.
Although Jaguar’s stock is continuing to trade under the same
ticker symbol, “JAGX”, effective today the CUSIP number for
Jaguar’s common stock is now 47010C201. No action is required by
existing stockholders with respect to Jaguar’s name change or the
CUSIP number change.
On Friday, August 4, 2017, Jaguar filed a registration statement
with respect to shares held by Nantucket Investments Limited
(Nantucket). This registration statement is still undergoing review
by the Securities and Exchange Commission and details certain
restrictions related to any sale of the indicated shares by
Nantucket. For example, pursuant to the terms of the Investor
Rights Agreement, dated March 31, 2017, between Jaguar and
Nantucket, until April 1, 2018, Nantucket is not permitted to sell
shares of Jaguar non-voting common stock on the open market that it
received at the closing of the Merger at a price less than $1.00
per share unless approved in writing in advance by Jaguar’s CEO or
CFO. In addition, certain shares of Jaguar non-voting common stock
held by Nantucket are currently held in escrow and cannot be
transferred or sold until such shares are released to either
Nantucket and/or the legacy stockholders of Napo, depending on
whether certain specified conditions are met over a specified
three-year period of time.
“Jaguar Health’s growing team is excited about the value we
believe the combination with Napo’s uniquely positioned human
health business has created—and most importantly the ongoing
commercialization of Mytesi® and the development of important
potential Mytesi® follow-on indications for chemotherapy-induced
diarrhea, for orphan-drug indications for infants and children with
congenital diarrheal disorders and short bowel syndrome, as a
second-generation anti-secretory agent for use in cholera patients,
and for supportive care for irritable bowel syndrome and
inflammatory bowel disease,” Lisa Conte, Jaguar's president and
CEO, stated.
Jaguar Health’s next expected veterinary product commercial
launch will be for Equilevia™, a personalized premium proprietary
total gut health product for equine athletes, which will be
non-prescription.
About Mytesi®
Mytesi® (crofelemer) is an antidiarrheal indicated for the
symptomatic relief of noninfectious diarrhea in adult patients with
HIV/AIDS on antiretroviral therapy (ART). Mytesi® is not indicated
for the treatment of infectious diarrhea. Rule out infectious
etiologies of diarrhea before starting Mytesi®. If infectious
etiologies are not considered, there is a risk that patients with
infectious etiologies will not receive the appropriate therapy and
their disease may worsen. In clinical studies, the most common
adverse reactions occurring at a rate greater than placebo were
upper respiratory tract infection (5.7%), bronchitis (3.9%), cough
(3.5%), flatulence (3.1%), and increased bilirubin (3.1%).
More information and complete Prescribing Information are
available at Mytesi.com. Crofelemer, the active ingredient in
Mytesi®, is a botanical (plant-based) drug extracted and purified
from the red bark sap of the medicinal Croton lechleri tree in the
Amazon rainforest. Napo has established a sustainable harvesting
program for crofelemer to ensure a high degree of quality and
ecological integrity.
About Jaguar Health, Inc.
Jaguar Health, Inc. is a natural-products pharmaceuticals
company focused on developing and commercializing novel,
sustainably derived gastrointestinal products for both human
prescription use and animals on a global basis. Our wholly-owned
subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and
commercializing proprietary human gastrointestinal pharmaceuticals
for the global marketplace from plants used traditionally in
rainforest areas. Our Mytesi® (crofelemer) product is approved by
the U.S. FDA for the symptomatic relief of noninfectious diarrhea
in adults with HIV/AIDS on antiretroviral therapy. Mytesi® is in
development for multiple possible follow-on indications, including
chemotherapy-induced diarrhea; orphan-drug indications for infants
and children with congenital diarrheal disorders and short bowel
syndrome; supportive care for inflammatory bowel disease (IBD);
irritable bowel syndrome (IBS); and as a second-generation
anti-secretory agent for use in cholera patients. Canalevia™ is our
lead animal prescription drug candidate, intended for treatment of
various forms of diarrhea in dogs. Equilevia™ is Jaguar’s
non-prescription product for total gut health in equine athletes.
Canalevia™ and Equilevia™ contain ingredients isolated and purified
from the Croton lechleri tree, which is sustainably harvested.
Neonorm™ Calf and Neonorm™ Foal are Jaguar’s lead non-prescription
animal products. Mytesi®, Canalevia™, Equilevia™ and Neonorm™ are
distinct products that act at the same last step in a physiological
pathway generally present in mammals.
For more information about Jaguar, please visit jaguar.health.
For more information about Napo, visit napopharma.com.
Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements.” These include statements regarding
the value created by the combination with Napo’s human health
business, the development of potential Mytesi® follow-on
indications, and the next expected veterinary product commercial
launch. In some cases, you can identify forward-looking statements
by terms such as “may,” “will,” “should,” “expect,” “plan,” “aim,”
“anticipate,” “could,” “intend,” “target,” “project,”
“contemplate,” “believe,” “estimate,” “predict,” “potential” or
“continue” or the negative of these terms or other similar
expressions. The forward-looking statements in this release are
only predictions. Jaguar has based these forward-looking statements
largely on its current expectations and projections about future
events. These forward-looking statements speak only as of the date
of this release and are subject to a number of risks, uncertainties
and assumptions, some of which cannot be predicted or quantified
and some of which are beyond Jaguar’s control. Except as required
by applicable law, Jaguar does not plan to publicly update or
revise any forward-looking statements contained herein, whether as
a result of any new information, future events, changed
circumstances or otherwise.
Jaguar-JAGX
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version on businesswire.com: http://www.businesswire.com/news/home/20170816005556/en/
KCSA Strategic CommunicationsGarth Russell,
212-896-1250grussell@kcsa.com
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