Jaguar Health Prices $4.25 Million Public Offering of Common Stock
September 29 2017 - 1:24PM
Business Wire
Jaguar Health, Inc. (NASDAQ: JAGX) (“Jaguar” or the “Company”),
a natural-products pharmaceuticals company focused on developing
and commercializing novel, sustainably derived gastrointestinal
products for both human prescription use and animals on a global
basis, today announced the pricing of an underwritten public
offering of 21,250,000 shares of voting common stock with a public
offering price of $0.20 per share. The Company expects to receive
gross proceeds of approximately $4.25 million, before deducting
underwriting discounts and commissions and other estimated offering
expenses.
The offering is expected to close on or about October 3, 2017,
subject to customary closing conditions. Jaguar has granted the
representative of the underwriters a 45-day option to purchase up
to an additional 3,187,500 shares of its voting common stock.
Maxim Group LLC is acting as the sole book-running manager for
the offering. WestPark Capital, Inc. is acting as co-manager.
The Company intends to use the net proceeds from the offering
for commercialization of Mytesi®—an FDA-approved human prescription
drug product of Jaguar’s wholly-owned subsidiary, Napo
Pharmaceuticals, Inc., as well as for general corporate purposes
and working capital.
The shares of common stock referred to above are being offered
under the Company’s shelf registration statement on Form S-3 (No.
333-220236), including a base prospectus, previously filed with and
declared effective by the U.S. Securities and Exchange Commission
(SEC). The shares are being offered by means of a prospectus
supplement and accompanying prospectus, forming part of the
effective registration statement. A preliminary prospectus
supplement and accompanying prospectus related to the offering,
along with a free writing prospectus, have been filed with the SEC
and are available on the website of the SEC at http://www.sec.gov.
Electronic copies of the preliminary prospectus supplement,
accompanying prospectus and free writing prospectus also may be
obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New
York, NY 10174, at (800) 724-0761.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Mytesi®
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
Amazon rainforest. Napo has established a sustainable harvesting
program for crofelemer to ensure a high degree of quality and
ecological integrity.
About Jaguar Health, Inc.
Jaguar Health, Inc. is a natural-products pharmaceuticals
company focused on developing and commercializing novel,
sustainably derived gastrointestinal products for both human
prescription use and animals on a global basis. Our wholly-owned
subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and
commercializing proprietary human gastrointestinal pharmaceuticals
for the global marketplace from plants used traditionally in
rainforest areas. Our Mytesi® (crofelemer) product is approved by
the U.S. FDA for the symptomatic relief of noninfectious diarrhea
in adults with HIV/AIDS on antiretroviral therapy. Mytesi® is in
development for multiple possible follow-on indications, including
chemotherapy-induced diarrhea; orphan-drug indications for infants
and children with congenital diarrheal disorders and short bowel
syndrome; supportive care for inflammatory bowel disease (IBD);
irritable bowel syndrome (IBS); and as a second-generation
anti-secretory agent for use in cholera patients. Canalevia™ is our
lead animal prescription drug candidate, intended for treatment of
various forms of diarrhea in dogs. Equilevia™ is Jaguar’s
non-prescription product for total gut health in equine athletes.
Canalevia™ and Equilevia™ contain ingredients isolated and purified
from the Croton lechleri tree, which is sustainably harvested.
Neonorm™ Calf and Neonorm™ Foal are Jaguar’s lead non-prescription
animal products. Mytesi®, Canalevia™, Equilevia™ and Neonorm™ are
distinct products that act at the same last step in a physiological
pathway generally present in mammals.
For more information about Jaguar, please visit jaguar.health.
For more information about Napo, visit napopharma.com.
Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements” within the meaning of section 27A of
the Securities Act of 1933 and section 21E of the Securities
Exchange Act of 1934. These include statements regarding the
development of potential Mytesi® follow-on indications, the
proposed public offering, the expected gross proceeds from the
offering, and the use of proceeds from the offering. 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-JAGX
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version on businesswire.com: http://www.businesswire.com/news/home/20170929005639/en/
KCSA Strategic CommunicationsGarth Russell,
212-896-1250grussell@kcsa.com
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