Jaguar Health Inc JAGX shares are trading higher by 12.9% to $0.16 during Monday's session after the company was granted orphan drug designation by the European Medicines agency for microvillus disease.
"This is a very welcome development for crofelemer, a new molecular entity that has been granted two orphan designations by the EMA in less than one year, as crofelemer received ODD for short bowel syndrome (SBS) from the EMA in December 2021," said Massimo Mineo, CEO of Napo Therapeutics.
Napo Therapeutics is the Italian corporation established by Jaguar Health in Italy in 2021 that focuses on development and commercialization of crofelemer in orphan and rare diseases.
"The recognition of ODD in Europe for crofelemer for MVID is a key Napo Therapeutics milestone under the company's exclusive crofelemer license agreement with Jaguar, and receipt of this new ODD supports some specific regulatory pathways for this serious form of CDD, which remains a significant unmet medical need, especially in pediatric patients," Mineo stated.
According to data from Benzinga Pro, Jaguar Health has a 52-week high of $2.66 and a 52-week low of $0.14.
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