Jaguar Health (NASDAQ:JAGX) is on the move Tuesday as shares of JAGX stock continue to rise after announcing plans to commercialize one of its drugs.
Jaguar Health is planning to commercialize crofelemer, which is used to treat inflammatory diarrhea. This will see it used in patients recovering from the novel coronavirus. The company announced these plans on Monday.
It’s one day later and shares of JAGX stock are continuing to see heavy trading following the news. As of writing this morning, the stock has moved more than 128 million shares. That’s a massive spike compared to its daily average trading volume of 8.54 million shares.
With more investors eyeing JAGX stock, it only makes sense that they will want to know more about the company. Fortunately, we have a quick primer below.
- Jaguar Health is a pharmaceutical company with a focus on developing “novel, sustainably derived gastrointestinal products on a global basis.”
- The company notes that its wholly-owned subsidiary, Napo Pharmaceuticals, develops and commercializes gastrointestinal made from plants in the rainforest.
- JAGX currently sells two crofelemer treatments under different names.
- The first is Mytesi, which is used to treat noninfectious diarrhea in adults with HIV or AIDS that are taking part in antiretroviral therapy.
- Canalevia is its second drug and its a candidate for treating dogs suffering from chemotherapy-induced diarrhea.
- Lisa Conte is the founder and CEO of the company and also serves as a member of its Board of Directors.
- Conte has more than 30 years of experience in the pharmaceutical field.
- Jaguar Health is actually the result of two of her former companies, Napo Pharmaceuticals and Jaguar Animal Health, merging together.
- The company recently heald a round of funding in March of this year that saw it raising $2.03 million.
- Its current market capitalization is sitting at $50.73 million.
JAGX stock was up 70% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.