Jaguar Health, Inc. (NASDAQ:JAGX) found its stock sharply on the way up Thursday, on new developments.
The San Francisco-based Jaguar Health recently announced the launch of mental health Entheogen Therapeutics Initiative.
What’s more, Jaguar and its wholly owned subsidiary, Napo Pharmaceuticals, Inc., have jointly entered into a third amendment to the accounts receivable purchase agreement with Oasis Capital, LLC, dated May 12, pursuant to which Oasis agreed to purchase additional accounts receivable of the company related to the sales of the company's Mytesi® drug product to Cardinal Health for the period of August 11, through September 3.
The Fourth Tranche Accounts Receivable has a gross value of $2,329,662.72, representing customer billings over a 24-day period.
Said CEO Lisa Conte, "We are happy to enter into this additional amendment with Oasis. Based on the success of the first three tranches of accounts receivable financing and the strength of our growing sales of Mytesi, we have been able to further our strategy of bringing in non-dilutive capital and striving to become a stable, cash flow positive commercial business."
Jaguar is focused on developing novel, plant-based, non-opioid, and sustainably derived prescription medicines for people and animals with GI distress, specifically chronic, debilitating diarrhea. Its Mytesi® (crofelemer) product is approved by the U.S. Food and Drug Administration for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy and the only oral plant-based prescription medicine approved under FDA Botanical Guidance.
JAGX shares advanced 12 cents, or 34.3%, to 47 cents.
