Business
Jaguar Health Reports First Quarter 2023 Financial Results
Net revenue decreased in Q1 2023 versus Q1 2022Net loss improved over the same periodJaguar has agreed, as described below, not to issue additional equity
About this update from Jaguar Health, Inc.
[{"type":"text","content":"Net revenue decreased in Q1 2023 versus Q1 2022Net loss improved over the same periodJaguar has agreed, as described below, not to issue additional equity securities before October 22, 2023 - by which point the Company expects to have released top line data for the Phase 3 OnTarget trialCompleted and core near-term milestones:Enrollment completed for Phase 3 OnTarget trialSubmission of Investigational New Drug (IND) application planned for Q2 2023 to FDA for crofelemer for microvillus inclusion diseaseREMINDER: Jaguar to host investor webcast Monday, May 15th at 8:30 a.m. Eastern regarding first-quarter 2023 financials and company updates; Click here to register for webcastSAN FRANCISCO, CA / ACCESSWIRE / May 15, 2023 / Jaguar Health, Inc. (NASDAQ:JAGX) (\"Jaguar\" or the \"Company\") today reported consolidated first-quarter 2023 financial results and provided Company updates.The combined net revenue for Mytesi® and the Company's other prescription product, Canalevia®-CA1, which became commercially available in April 2022, was approximately $2.00 million in the first quarter of 2023, representing a decrease of 40% compared to prescription product net revenue in the fourth quarter of 2022, which totaled approximately $3.3 million, and a decrease of approximately 25% over prescription product net revenue in the first quarter of 2022, which totaled approximately $2.6 million. The loss from operations decreased by $2.0 million, from $11.8 million in the quarter ended March 31, 2022 to $9.8 million during the same period in 2023.\"After five consecutive quarters of prescription product net sales growth, we had a decline in our Q1 2023 net sales. We may have lost sight of the depth, reach and importance of patient voice in the HIV community to facilitate the expansion of care that Mytesi can provide HIV patients. We are prioritizing learning from and listening to patient voice and this will be foundational to our preparations for the introduction of crofelemer to the much larger market for the prophylaxis of cancer therapy-related diarrhea (CTD),\" said Lisa Conte, Jaguar's president and CEO. \"In support of this goal, we're very pleased that Dr. Kelly Shanahan has joined our Scientific Advisory Board. As an independent patient advocate, Dr. Shanahan shares our deep commitment to patient comfort and dignity, especially to the importa...