SAN FRANCISCO, CA / ACCESSWIRE / February 23, 2024 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") today provided an update regarding the status of its listing with The Nasdaq Stock Market LLC ("Nasdaq").
"Jaguar requested a hearing to appeal a potential delisting of the Company's securities from Nasdaq, and I'm pleased to report that a hearing has been scheduled, " said Lisa Conte, Jaguar's president and CEO. "The Company's common stock will continue to trade on Nasdaq under the symbol ‘JAGX' pending the ultimate decision of any appeal process, and Jaguar's board remains committed to taking all required steps to remain in compliance with Nasdaq's listing standards."
As previously reported, on May 10, 2023 Jaguar was notified by Nasdaq's Listing Qualifications Staff (the "Staff") that the bid price for the Company's common stock for the last 30 consecutive business days had closed below the minimum $1.00 per share required for continued listing on Nasdaq. The Company was granted a grace period until May 6, 2024, to regain compliance.
On February 15, 2024, the Company received a letter from the Staff indicating that as of February 14, 2024, the Company's common stock had a closing bid price of $0.10 or less for 10 consecutive trading days, subjecting the Company to the provisions of Nasdaq's "Low Priced Stocks Rule," and indicating Nasdaq's intention to delist the Company's securities from Nasdaq on February 26, 2024, unless the Company requests an appeal before the Nasdaq Hearings Panel (the "Panel").
There can be no assurance that the Company will obtain an extension period from the Panel within which to regain compliance.
OnTarget Study Results
"We continue to work diligently to complete the comprehensive analysis of the data from our pivotal Phase 3 OnTarget trial of our novel plant-based prescription drug crofelemer for the follow-on indication of the preventative treatment of cancer therapy-related diarrhea."
About Crofelemer
Crofelemer is plant-based, extracted and purified from the red bark sap of the Croton lechleri tree in the Amazon Rainforest. Jaguar Health family company Napo Pharmaceuticals has established a sustainable harvesting program, under fair trade practices, for crofelemer to ensure a high degree of quality, ecological integrity, and support for indigenous communities.
About the Jaguar Health Family of Companies
Jaguar Health, Inc. (Jaguar) is a commercial stage pharmaceuticals company focused on developing novel proprietary prescription medicines sustainably derived from plants from rainforest areas for people and animals with gastrointestinal distress, specifically associated with overactive bowel, which includes symptoms such as chronic debilitating diarrhea, urgency, and bowel incontinence. Jaguar family company Napo Pharmaceuticals focuses on developing and commercializing human prescription pharmaceuticals for essential supportive care and management of neglected gastrointestinal symptoms across multiple complicated disease states. Napo Pharmaceuticals' crofelemer drug product candidate is the subject of the OnTarget study, a pivotal Phase 3 clinical trial for preventive treatment of chemotherapy-induced overactive bowel (CIOB) in adults with cancer on targeted therapy. Jaguar family company Napo Therapeutics is an Italian corporation Jaguar established in Milan, Italy in 2021 focused on expanding crofelemer access in Europe and specifically for orphan and/or rare diseases. Jaguar Animal Health is a Jaguar tradename. Magdalena Biosciences, a joint venture formed by Jaguar and Filament Health Corp. that emerged from Jaguar's Entheogen Therapeutics Initiative (ETI), is focused on developing novel prescription medicines derived from plants for mental health indications.
For more information about:
Jaguar Health, visit https://jaguar.health
Napo Pharmaceuticals, visit www.napopharma.com
Napo Therapeutics, visit napotherapeutics.com
Magdalena Biosciences, visit magdalenabiosciences.com
Visit Jaguar on LinkedIn: https://www.linkedin.com/company/jaguar-health/
Visit Jaguar on X: https://twitter.com/Jaguar_Health
Visit Jaguar on Instagram: https://www.instagram.com/jaguarhealthcommunity/
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements." 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.
CONTACT:
hello@jaguar.health
Jaguar-JAGX
SOURCE: Jaguar Health, Inc.
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