Business
Jaguar Health, Inc. Reports 2020 Third Quarter Financial Results
Third quarter 2020 Mytesi net sales and gross sales were approximately $2.8 million and approximately $6.3 million, respectivelyCompany to host investor call
About this update from Jaguar Health, Inc.
[{"type":"text","content":"Third quarter 2020 Mytesi net sales and gross sales were approximately $2.8 million and approximately $6.3 million, respectivelyCompany to host investor call Monday, November 16th at 8:30 a.m. Eastern regarding third quarter 2020 financials & business updatesSAN FRANCISCO, CA / ACCESSWIRE / November 16, 2020 / Jaguar Health, Inc. (NASDAQ:JAGX) (\"Jaguar\" or the \"Company\") today reported consolidated third quarter 2020 financial results.2020 Third Quarter Company Financial Results:Mytesi® Net Product Revenue: Mytesi net sales during the third quarter of 2020 were approximately $2.8 million and $1.0 million in the third quarter 2019. This third quarter 2020 result represents approximately 280% of the same period in 2019, or an increase of $1.8 million quarter over quarter.Mytesi Gross Product Revenue (Non-GAAP): Mytesi gross sales during the third quarter of 2020 were approximately $6.3 million and $1.9 million in the third quarter of 2019. This third quarter 2020 result represents approximately 332% of the same period in 2019, or an increase of $4.4 million quarter over quarter.The increase in sales coincided with enhancements to the Mytesi patient access program, known as NapoCares™, of Jaguar's wholly owned subsidiary, Napo Pharmaceuticals, Inc., in the beginning of April 2020. In the third quarter of 2020, the Company's animal product commercialization efforts were intentionally minimal, and Jaguar's animal-related sales were also minimal. Three Months Ended Financial Highlights September 30, (in thousands, except per share amounts) 2020 2019 $ change % change Net product revenue $2,773 $973 1,800 185%Loss from operations $(5,375) $(6,727) 1,352 -20%Net loss $(7,866) $(7,555) (311) 4%Net loss attributable to common shareholders $(8,271) $(11,683) 3,412 -29%Net loss per share, basic and diluted $(0.21) $(2.00) 2 -90% Operating Expenses: The total operating expense for the third quarter of 2020 was $8.1 million as compared to $7.7 million for the third quarter of 2019, a 5%, or $0.4 million, increase year over year. The increase in total operating expenses was primarily due to an increase in general and administrative expense of $1.2 million and an increase in R&D expense of $0.2 million, offset by a decrease of $0.2 million in cost of revenues, a $0.2 million decrease in sales and marketing expenses, and settlement of the Te...