Jaguar Health, Inc.

Listed Company

JAGXCIK 0001585608NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$11.51M

Net Income

$-54.00M

Total Assets

$38.32M

Equity

$-18.69M

Shares Out

171.35M

Op. Cash Flow

$-23.69M

Business

Jaguar Health, Inc. is a commercial-stage pharmaceuticals company focused on developing novel proprietary prescription medicines sustainably derived from rainforest plants to treat gastrointestinal distress associated with overactive bowel in humans and animals. It offers crofelemer-based products and services, including Mytesi (FDA-approved for noninfectious HIV/AIDS diarrhea), Canalevia-CA1 for canine chemotherapy-induced diarrhea, Gelclair for oral mucositis, and pipeline candidates such as crofelemer formulations and NP-300, plus botanical drug discovery. Key business segments include human health (Napo and Napo Therapeutics), animal health (Jaguar Animal Health), and a mental-health botanical joint venture (Magdalena). Jaguar markets and seeks regulatory approvals and distribution primarily in the United States, the European Union, Canada, Middle East/North Africa and other selected international territories through direct commercialization and partner licensing.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue, net	12	12	10	12	4
Cost of product revenue	4	2	2	2	2
Research and development	25	17	19	18	15
Sales and marketing	9	8	6	9	9
General and administrative	19	16	17	18	17
Impairment loss on indefinite-lived intangible assets	800,000	—	371,000	—	—
Total operating expenses	57	43	44	46	45
Loss from operations	−46	−31	−34	−34	−41
Changes in fair value of freestanding and hybrid financial instruments designated at Fair Value Option	−6	−9	−5	−20,000	−2
Gain (loss) on extinguishment of debt	−2	1	4	−2	−753,000
Interest income (expense)	−67,000	−231,000	−6	−13	−8
Other income (expense)	43,000	51,000	200,000	950,000	−765,000
Loss before income tax expense	−54	−39	−42	−48	−53
Income tax expense	0	0	0	—	0
Net loss	−54	−39	−42	−48	−53
Net loss attributable to noncontrolling interest	−563,000	−759,000	−601,000	−941,000	−5,000
Deemed dividend to preferred stockholders	−141,000	0	—	—	—
Net loss attributable to common stockholders	−54	−38	−41	−47	−53
Net loss per share, basic	−22.97	−130.69	−2,678	−36.18	−88.22
Net loss per share, diluted	−22.97	−130.69	−2,678	−36.18	−88.22
Weighted-average common stock outstanding, basic	2	294,534	15,421	1	596,154
Weighted-average common stock outstanding, diluted	2	294,534	15,421	1	596,154

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	968,000	8	6	5	17
Restricted cash	7	0	—	—	—
Accounts receivable, net	2	2	2	2	2
Other receivable	177,000	120,000	217,000	588,000	435,000
Inventory, net	9	10	9	7	5
Prepaid expenses and other current assets	2	12	10	7	4
Total current assets	20	32	28	22	28
Property and equipment, net	463,000	464,000	496,000	557,000	650,000
Operating lease - right-of-use asset	1	936,000	1	1	1
Intangible assets, net	16	18	20	22	23
Other assets	494,000	1	1	995,000	446,000
Total assets	38	53	51	47	53
Accounts payable	9	5	5	6	5
Accrued liabilities	4	2	4	8	7
Deferred revenue	170,000	170,000	—	—	—
Operating lease liability, current	192,000	299,000	348,000	483,000	240,000
Notes payable, net of discount (includes note designated at Fair Value Option amounting to $26.2 million as of December 31, 2025, and $11.9 million as of December 31, 2024, respectively)	27	12	5	16	3
Total current liabilities	41	20	14	30	15
Operating lease liability, net of current portion	892,000	686,000	886,000	725,000	919,000
Deferred revenue, net of current portion	382,000	553,000	—	—	—
Notes payable, net of discount, net of current portion (includes notes designated at Fair Value Option amounting to $5.7 million as of December 31, 2025, and $23.5 million as of December 31, 2024, respectively)	15	24	31	18	25
Total liabilities	57	44	46	49	41
Commitments and contingencies (See Note 5)	—	—	—	—	—
Additional paid-in capital	381	354	314	267	231
Noncontrolling interest	−1	−791,000	−64,000	−699,000	242,000
Accumulated deficit	−400	−346	−308	−267	−219
Accumulated other comprehensive loss	−833,000	−467,000	−652,000	−680,000	—
Total stockholders' equity (deficit)	−19	6	5	−1	12
Total liabilities, redeemable preferred stock and stockholders' equity (deficit)	38	53	51	47	53

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Changes in fair value of freestanding and hybrid financial instruments designated at Fair Value Option	6	9	5	21,000	2
Provision for inventory obsolescence	2	—	—	—	—
Depreciation and amortization expenses	2	2	2	2	2
Stock-based compensation, vested and released restricted stock units, and exercised stock options	831,000	2	2	3	4
Amortization of operating lease - right-of-use asset	289,000	458,000	375,000	311,000	94,000
Share in joint venture's loss	162,000	138,000	51,000	—	—
Amortization of debt issuance costs, debt discount, and non-cash interest expense	153,000	274,000	13	12	5
Shares issued in exchange for services	—	9,000	171,000	823,000	16,000
Accounts receivable	6,000	440,000	−88,000	−170,000	3
Other receivable	−45,000	86,000	386,000	−251,000	−407,000
Inventory	−254,000	−1	−2	−2	−2
Prepaid expenses and other current assets	11	−2	−5	−2	−796,000
Other assets	1	−336,000	−17,000	—	—
Accounts payable	3	328,000	−855,000	902,000	158,000
Accrued liabilities	2	−1	−3	−360,000	3
Deferred revenue	−171,000	723,000	—	—	—
Operating lease liability	−272,000	−451,000	−394,000	−315,000	−19,000
Total cash used in operating activities	−24	−29	−33	−33	−35
Purchase of furniture and fixtures	−41,000	—	—	—	—
Purchase of intangible assets	—	−215,000	—	−2	—
Purchase of equipment	—	−16,000	—	−77,000	−6,000
Total cash used in investing activities	−41,000	−231,000	—	−2	−6,000
Proceeds from issuance of shares in At the Market offering, net of issuance and offering costs of $145 and $157 in 2025 and 2024, respectively	6	31	32	20	9
Proceeds from Convertible Notes	3	—	—	—	—
Proceeds from issuance of preferred shares in PIPE financing, net of issuance cost	2	—	611,000	—	—
Repayment of insurance financing	−652,000	−608,000	−853,000	−1	−943,000
Payment of Tempesta Note	−50,000	−100,000	−100,000	−100,000	—
Payment of Convertible Notes	−50,000	—	—	—	—
Proceeds from issuance of common shares in exchange for License Agreement	—	1	—	—	—
Total cash provided by financing activities	24	31	34	23	44
Effects of foreign exchange rate changes on assets and liabilities	−113,000	−54,000	15,000	16,000	—
Net increase (decrease) in cash and restricted cash	−170,000	2	1	−12	9
Cash paid for interest	22,000	14,000	35,000	23,000	28,000
First Insurance Financing	681,000	519,000	676,000	1	—
Recognition of operating lease - right-of-use asset and operating lease liability	341,000	221,000	30,000	365,000	1
Umbrella Insurance Financing	—	52,000	110,000	1	1

Filings

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