Jaguar Health Files First Quarterly Earnings Report Since July 2017 Merger with Napo Pharmaceuticals
As a Result of the Merger, Jaguar Shows Positive Net Income for Q3 2017
Per the Company’s 10-Q, Jaguar’s total net revenue for the third quarter
of 2017 was
Total net revenue for the nine months ending
“The third quarter of 2017 was the first period for which Jaguar
reported consolidated human and animal revenue and financial results.
Since the merger became effective
As Jaguar announced on
GAAP Reported Mytesi® Revenues, Contrasted with Operational Mytesi® Sales (a Cashflow Activity)
The Company recognizes net Mytesi® revenue by
deducting allowances and medicaid charges from Mytesi® proceeds
when product moves from wholesalers to retail organizations. Gross
sales figures issued by the Company represent Mytesi® orders
placed by wholesalers with Jaguar’s third-party logistics warehouse
which generate invoiced sales and cashflow for Napo. As stated in the
third-quarter earnings report filed today by Jaguar with the
Note Regarding Use of Non-GAAP Measures
Gross sales is used internally by management as an indicator of and to
monitor operating performance, including sales performance of Mytesi®,
salesperson performance, and product growth or declines. We believe that
the presentation of gross sales provides a closer to real-time useful
measure of our operating performance. Gross sales is not a measure that
is recognized under accounting principles generally accepted in
Mytesi® is a prescription treatment for diarrhea that works differently, by acting locally in the GI tract to normalize the flow of water. Mytesi® does not have drug-drug interactions with ART, does not affect GI motility, and has side effects that are similar to placebo.
Mytesi® (crofelemer) is an antidiarrheal indicated for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy (ART). Mytesi® is not indicated for the treatment of infectious diarrhea. Rule out infectious etiologies of diarrhea before starting Mytesi®. If infectious etiologies are not considered, there is a risk that patients with infectious etiologies will not receive the appropriate therapy and their disease may worsen. In clinical studies, the most common adverse reactions occurring at a rate greater than placebo were upper respiratory tract infection (5.7%), bronchitis (3.9%), cough (3.5%), flatulence (3.1%), and increased bilirubin (3.1%).
More information and complete Prescribing Information are available at Mytesi.com.
Crofelemer, the active ingredient in Mytesi®, is a botanical
(plant-based) drug extracted and purified from the red bark sap of the
medicinal Croton lechleri tree in the
Certain statements in this press release constitute “forward-looking statements.” These include statements regarding planned, potential follow-on indications for Mytesi®. 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,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this release are only predictions. Jaguar has based these forward-looking statements largely on its current expectations and projections about 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 plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
Jaguar Health, Inc.