Jaguar Health is granted an additional 180-day grace period to restore compliance with Nasdaq’s offer price rule
SAN FRANCISCO, Calif./ACCESSWIRE/August 19, 2022/Jaguar Health, Inc. (NASDAQ: JAGX) (“Jaguar” or the “Company”) today announced that on August 18, 2022, the Company received formal notice that personnel responsible for the listing qualifications of the Nasdaq Stock Market LLC had granted Jaguar a 180 day grace period, until February 13, 2023, to restore compliance with the $1.00 offering price requirement for continued listing on the Nasdaq capital market. To demonstrate compliance, the Company must report a closing bid price of at least $1.00 per share for at least ten consecutive business days no later than February 13, 2023.
“We are pleased to have been granted additional time by the Nasdaq to demonstrate compliance with the offer price requirement,” said Lisa Conte, president and chief executive officer of Jaguar. “Jaguar is focused on two late-stage clinical events over the next approximately 6-12 months that we expect to be transformational in terms of creating value and recognition for society as we seek to regain compliance with the Rule We anticipate completion in 2022 of an investigator-initiated proof-of-concept study of crofelemer for short bowel syndrome (SBS), supporting the potential for expanding patient access to crofelemer by Europe in 2023 for this devastating and catastrophic disease.December 2022 presentation of SBS study results at a global IG conference in Dubai.Our second key clinical activity is our pivotal Phase 3 study on target trial of crofelemer for our primary follow-up indication of cancer treatment-related diarrhea (CTD) prophylaxis. We expect enrollment for this trial to close in the first half of 2023.”
About Jaguar Health, Jaguar Animal Health, Napo Pharmaceuticals and Napo Therapeutics
Jaguar Health, Inc. is a commercial-stage pharmaceutical company focused on developing novel herbal, non-opioid, and sustainably-derived prescription medicines for people and animals with gastrointestinal disorders, including chronic and debilitating diarrhea. Jaguar Animal Health is a trading name of Jaguar Health. Jaguar Health’s wholly-owned subsidiary, Napo Pharmaceuticals, Inc., is focused on the development and commercialization of proprietary human plant-based pharmaceutical products from plants responsibly harvested from rainforest areas. Our drug candidate crofelemer is the subject of on target study, an ongoing pivotal Phase 3 clinical trial for the prophylaxis of diarrhea in adult cancer patients receiving targeted therapy. Jaguar Health is the majority shareholder of Napo Therapeutics SpA (f/k/a Napo EU SpA), an Italian company established by Jaguar Health in Milan, Italy, in 2021, which focuses on expanding access to crofelemers in Europe.
For more information about Jaguar Health, visit https://jaguar.health. For more information about Napo Pharmaceuticals, visit www.napopharma.com.
Certain statements contained in this press release constitute “forward-looking statements”. These include statements regarding Jaguar’s expectation that two late-stage clinical events in the next approximately 6 to 12 months could transform in terms of value creation and recognition for Jaguar as the Company seeks to restore the compliance with the offer price requirement, Jaguar’s expectation that an investigator-initiated proof-of-concept study on crofelemer for SBS will be completed in 2022, supporting the potential for expansion of patient access to crofelemer in Europe in 2023 for SBS, the company expects the third-party investigator of the SBS study to present the study results in December 2022 at a GI conference in Dubai , and Jaguar expects the company’s OnTarget trial enrollment to end in the first half of 2023. In some cases, you can identify forward-looking statements by terms such as “may”, “will”, “should”, “expect”, “plan”, “aim”, “anticipate”, “could”, “intend”, “target”, “project”, “contemplate”, “believe”, “estimate”, “predict”, “po tentative” or “continue” or the negative form of these terms or other similar expressions. The forward-looking statements contained in this press release are only predictions. Jaguar has based these forward-looking statements largely on its current expectations and projections regarding future events. These forward-looking statements speak only as of the date of this release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond Jaguar’s control. Except as required by applicable law, Jaguar does not intend to publicly update or revise any forward-looking statements contained herein, whether as a result of new information, future events, changed circumstances or otherwise. .
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