Jaguar Receives Extension of Nasdaq Listing
SAN FRANCISCO--(BUSINESS WIRE)--Apr. 28, 2017--
Jaguar Animal Health, Inc. (NASDAQ:JAGX) (“Jaguar”), an animal health
company focused on developing and commercializing first-in-class
gastrointestinal products for companion and production animals, foals,
and high value horses, today announced that it has signed an exclusive
distribution agreement with JP Equine Services for distribution of
Jaguar’s lead non-prescription products, Neonorm™ Foal and
Neonorm™ Calf, in Japan.
Neonorm™ Foal is a natural, clinically-tested, non-drug
product designed for use as an anti-diarrheal in newborn horses.
Diarrhea is one of the most common clinical complaints in foals,
especially within the first 30 days of life. The crippling effects of
dehydration that often result from secretory diarrhea in foals can
manifest quickly, precipitate adverse health effects and lead to death.
Neonorm™ Calf has been formulated and clinically tested to
help proactively retain fluid in dairy calves and reduce the severity of
diarrhea—aiding calves in avoiding debilitating, dangerous levels of
dehydration associated with scours.
In the year 2000, there were an estimated 115,000 horses in Japan1—a
country where more than 21,000 horse races are held annually. According
to the Japan Dairy Council, there were an estimated 1,450,000 dairy
cattle in Japan in 2012, spread across 20,100 dairy farms. Although
dairy products have traditionally not represented a large portion of the
Japanese diet, increases in disposable income in recent years have led
to an increased interest in foreign products and growth in the intake of
dairy.2
Headquartered in Jamaica, NY and established in 2001, JP Equine Services
began as a shipping company handling transport of thoroughbred
racehorses to Japan, Korea, Saudi Arabia and Italy. The company later
expanded into distribution of equine products to breeding farms and
veterinary practices throughout the world.
“We’re very excited to represent Neonorm™ Foal and Neonorm™
Calf in Japan and look forward to a successful relationship with Jaguar
Animal Health,” commented Jimmy Preziosi, founder of JP Equine Services.
Henry Schein, Inc., the world’s largest provider of health care products
and services to office-based dental, animal health and medical
practitioners, continues to serve as Jaguar’s exclusive distributor of
Neonorm™ Foal in the U.S. equine market.
Extension of Nasdaq Listing
Jaguar also announced today that, on April 27, 2017, the Company was
notified that the Nasdaq Hearings Panel (the “Panel”) determined to
grant the Company’s request for continued listing on Nasdaq. The
Company’s continued listing is subject to the completion of Jaguar’s
proposed merger with Napo Pharmaceuticals, Inc. on or before July 31,
2017, and the Company’s compliance with Nasdaq’s $2.5 million
stockholders’ equity requirement as a result of the merger. The Company
is diligently working to timely evidence compliance with the terms of
the Panel’s decision. The decision follows the Company’s recent hearing
before the Panel, at which it presented its plan to evidence compliance
with the stockholders’ equity requirement concurrent with the merger.
About Jaguar Animal Health, Inc.
Jaguar Animal Health, Inc. is an animal health company focused on
developing and commercializing first-in-class gastrointestinal products
for companion and production animals, foals, and high value horses.
Canalevia™ is Jaguar’s lead prescription drug product
candidate, intended for the treatment of various forms of diarrhea in
dogs. Equilevia™ (formerly referred to as SB-300) is Jaguar’s
prescription drug product candidate for the treatment of
gastrointestinal ulcers in horses. Canalevia™ and Equilevia™
contain ingredients isolated and purified from the Croton lechleri
tree, which is sustainably harvested. Neonorm™ Calf and
Neonorm™ Foal are the Company’s lead non-prescription
products. Neonorm™ is a standardized botanical extract
derived from the Croton lechleri tree. Canalevia™ and
Neonorm™ are distinct products that act at the same last step
in a physiological pathway generally present in mammals. Jaguar has nine
active investigational new animal drug applications, or INADs, filed
with the FDA and intends to develop species-specific formulations of
Neonorm™ in six additional target species, formulations of
Equilevia™ in horses, and Canalevia™ for cats and
dogs.
For more information about Jaguar, please visit www.jaguaranimalhealth.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking
statements.” These include statements regarding the completion of
Jaguar’s proposed merger with Napo Pharmaceuticals, Inc. on or before
July 31, 2017, the Company’s ability to timely evidence compliance with
the terms of the Panel’s decision, Jaguar’s intention to develop
species-specific formulations of Neonorm™ in additional
target species, and the Company’s plan to develop formulations of
Canalevia™ for cats, horses and dogs. 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.
1A. Fotovati1, Y. Mizuno, T. Ito and H. Moriyama, A
Statistical Study of the Horse Industry in Japan, Asian-Aus. J. Anim.
Sci. 13 Supplement July 2000 C: 403
2The Food and Beverage Market Entry Handbook: Japan: A
Practical Guide to the Market in Japan for European Agri-food Products
Jaguar-JAGX
View source version on businesswire.com: http://www.businesswire.com/news/home/20170428005373/en/
Source: Jaguar Animal Health, Inc.
KCSA Strategic Communications
Garth Russell, 212-896-1250
grussell@kcsa.com
