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Jaguar Health Spikes 50% After Subsidiary Receives Preclinical Services From NIAID

Jaguar Health Spikes 50% After Subsidiary Receives Preclinical Services From NIAID

Jaguar Health (NASDAQ: JAGX) shares spiked higher Tuesday morning after the company announced its subsidiary, Napo Pharmaceuticals, will receive preclinical services from the federal government to support the development of the drug lechlemer that treats cholera.

What To Know

Jaguar Health is a pharmaceutical company focused on developing sustainably derived gastrointestinal products.

The National Institute of Allergy and Infectious Diseases will support the development of lechlemer, Napo's drug product candidate for a cholera indication.

Cholera is an infectious bacterial disease of the small intestine, typically contracted from infected water supplies and causing severe vomiting and diarrhea.

Why It's Important

"We believe lechlemer, which has the same mechanism of action as crofelemer and is significantly less costly to produce, may support efforts to receive a priority review voucher from the FDA for a cholera indication,” said Jaguar's president and CEO Lisa Conte in a press release.

“Additionally, we believe lechlemer represents a long-term pipeline opportunity as a second-generation anti-secretory agent, on a global basis, for multiple gastrointestinal diseases - especially in resource-constrained countries where cost of goods is a factor, in part, because requirements often exist in such regions for drug prices to decrease annually."

Price Action

Jaguar Health has an extremely low float of about 847,000 shares and the stock has previously shown volatility.

Last September, shares more than tripled after the company announced a distribution, license and supply agreement with Canada-based specialty pharmaceutical company Knight Therapeutics.

At time of publication, Jaguar Heath's stock traded higher by 45 percent at $10.83 per share.

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