Business
Jaguar Health, Inc. Reports 2021 Second Quarter Financial Results
Second quarter 2021 Mytesi® net and gross sales were approximately $0.4 million and approximately $4.9 millionCompany transitioning to primarily selling
About this update from Jaguar Health, Inc.
[{"type":"text","content":"Second quarter 2021 Mytesi® net and gross sales were approximately $0.4 million and approximately $4.9 millionCompany transitioning to primarily selling Mytesi directly through selected specialty pharmacies as part of Company's market access strategyCompany to host investor webcast Friday, August 13th at 8:00 a.m. Eastern regarding second quarter 2021 financials & business updates; Webcast registration link appears belowSAN FRANCISCO, CA / ACCESSWIRE / August 13, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) (\"Jaguar\" or the \"Company\") today reported consolidated second quarter 2021 financial results.2021 Second Quarter Company Financial Results:Mytesi Prescription Volume: Mytesi prescription volume, the metric the Company believes to be the best indicator of patient demand, increased 4.3% in the second quarter of 2021 over the first quarter of 2021, and new Mytesi prescriptions increased 2.8% during the same time period. Mytesi prescription volume declined 9% in the second quarter of 2021 over the second quarter of 2020. The Company believes COVID-19 pandemic-necessitated travel restrictions played a role in this decline, with the pandemic resulting in fewer patient visits to health care providers, fewer opportunities to diagnose new Mytesi patients, and fewer prescription refills. Prescription volume, an indicator of patient demand, can differ from invoiced sales volume, which reflects, among other factors, varying buying patterns among wholesalers and specialty pharmacies as they manage their inventory levels.Mytesi Net Product Revenue: Mytesi net revenue during the second quarter of 2021 was approximately $0.4 million and $3.2 million in the second quarter of 2020, a decrease of $2.8 million quarter over quarter. A key component of the Company's market access strategy - an initiative intended to help remove access barriers for people living with HIV to start and stay on Mytesi - involves the Company's plan to transition a substantial amount of Mytesi volume to selected specialty pharmacies by the end of 2021. The ongoing process of transitioning to primarily selling Mytesi directly through specialty pharmacies (rather than to wholesalers that resell the product to retail pharmacies) is expected to significantly decrease distribution costs and have a positive impact on net product revenue on a moving forward basis. In the seco...