Business
Jaguar Health, Inc. Reports 2021 First Quarter Financial Results
First quarter 2021 Mytesi gross sales and net sales were approximately $4.6 million and approximately $1.2 million, increases of 250% and 43%,
About this update from Jaguar Health, Inc.
[{"type":"text","content":"First quarter 2021 Mytesi gross sales and net sales were approximately $4.6 million and approximately $1.2 million, increases of 250% and 43%, respectivelyCompany to host investor webcast Monday, May 17th at 8:30 a.m. Eastern regarding first quarter 2021 financials & business updatesSAN FRANCISCO, CA / ACCESSWIRE / May 17, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) (\"Jaguar\" or the \"Company\") today reported consolidated first quarter 2021 financial results.2021 First Quarter Company Financial Results:Mytesi® Net Product Revenue: Mytesi net sales during the first quarter of 2021 were approximately $1.2 million and $0.9 million in the first quarter of 2020. This first quarter 2021 result represents an increase of approximately 43% of the same period in 2020, or $0.3 million quarter over quarter. The increase in sales of Mytesi is due to the combined effect of the price adjustment in Wholesaler Acquisition Cost (\"WAC\") implemented by the Company in April 2020 and a 6% increase in the number of bottles sold in the first quarter of 2021 over the same period in 2020. The increase in sales discounts and rebates is due to the WAC price adjustment which caused higher government rebates from Medicaid and public health services programs.Mytesi Gross Product Revenue (Non-GAAP): Mytesi gross sales during the first quarter of 2021 were approximately $4.6 million and $1.3 million in the first quarter of 2020. This first quarter 2021 result represents an increase of approximately 250% of the same period in 2020, or approximatively $3.3 million quarter over quarter. The increase in sales of Mytesi is due to the combined effect of the price adjustment in WAC implemented in April 2020 and a 6% increase in the number of bottles sold in the first quarter of 2021 over the same period in 2020.Total Mytesi Prescription Volume: Total Mytesi unit sales volume increased by approximately 6% in the first quarter of 2021 over the first quarter of 2020. U.S. prescriptions for Mytesi decreased slightly by 2% in the first quarter of 2021 as compared to the first quarter of 2020. Prescription volume is the best estimate of patient demand while unit sales volume may reflect varying buying patterns among wholesalers as they manage their inventory levels. This can result in differences between these two metrics. The Company believes the COVID-19 pandemic played...