Business
Jaguar Health Provides Updates Regarding Company Capitalization Strategy
Jaguar Has Closed on the First $6 Million Tranche of the Previously Announced Non-Dilutive Royalty Financing Transaction - Which Now Has the Potential to
About this update from Jaguar Health, Inc.
[{"type":"text","content":"Jaguar Has Closed on the First $6 Million Tranche of the Previously Announced Non-Dilutive Royalty Financing Transaction - Which Now Has the Potential to Total $17 Million Jaguar and its Subsidiary, Napo Pharmaceuticals, Enter into Fourth Amendment to the Accounts Receivable Purchase Agreement with Oasis Capital, LLC, Dated May 12, 2020. Fifth Tranche Accounts Receivable has a Gross Value of $2,117,875.20, Representing Customer Billings Over a 30-day PeriodJaguar Continues to Implement Tactics to Focus on Long-term InvestorsSAN FRANCISCO, CA / ACCESSWIRE / October 13, 2020 / Jaguar Health, Inc. (NASDAQ:JAGX) today provided updates regarding the company's capitalization strategy and recent non-dilutive financing transactions.\"I'm pleased to be able to state that we believe our efforts over the past several years to streamline operations at Jaguar and our wholly owned subsidiary, Napo Pharmaceuticals, Inc. (Napo), and improve our long-term financial prospects are being realized,\" Lisa Conte, Jaguar's president and CEO, said. \"Our core focus today is on achieving financial sustainability as a commercial business in 2021 based on sales of Mytesi® (crofelemer) for the current approved indication, continuing to remove barriers for patients to access Mytesi, and on pursuing additional non-dilutive financing - both from potential business development partners interested in non-US licensing rights for Mytesi, and from royalty financing transactions related to future Mytesi sales - to fund Napo's robust pipeline of potential Mytesi and crofelemer follow-on indications.\"\"From a capitalization standpoint, we have made progress in 2020 as we've worked to remove obstacles to conducting non-dilutive financing transactions and reduced debt related to the 6-year Napo litigation that was resolved in 2016, which returned Mytesi's commercial rights to Napo. As a specific tactic, Jaguar has sought to focus on long-term investors. The company has executed deals to eliminate and exchange debt, preferences, and warrants not held by long-term investors, to common stock to simplify the capitalization of the company and eliminate restrictive covenants associated with those securities, thereby facilitating non-dilutive financing alternatives.\"Royalty Financing Update and Focus on Long-Term InvestorsOn October 9, 2020, the company closed on the first ...