Notable Runner: Jaguar Health, Inc. (NASDAQ:JAGX)

On September 16 2019, Jaguar Health, Inc. (NASDAQ:JAGX) has shown upward/downward moved of +7.52% and ended the last trade at $1.4300. The trading volume was recorded to 1,496,867 shares as compared to average traded volume of 929,118 shares.

Jaguar Health, Inc. (JAGX) recently declared second quarter 2019 results and issued the following highlights.

2019 Second Quarter Company Financial Results

  • Mytesi Product Revenue:Mytesi net sales in the second quarter of 2019 were about $1.7M, and Mytesi gross sales (non-GAAP measure) were about $2.4M, a raise of 102% and 93% of net sales and gross sales, respectively, over the second quarter of 2018. Total Mytesi prescription volume, which is the combination of new prescriptions and refills, as stated by IQVIA, a provider of analytics, technology solutions and contract research services to the life sciences industry, increased 78% in the second quarter of 2019 over the second quarter of 2018, and grew 11% in the second quarter of 2019 versus the first quarter of 2019. Jaguar’s animal-related sales for the second quarter of 2019 and 2018 were $21K and $30K, respectively, Because of minimal marketing and sales efforts.
  • Operating Expenses:The total operating expense for the quarter ended June 30, 2019 was $12.3M as contrast to $8.0M for the quarter ended June 30, 2018, a 54% increase or a $4.3M increase quarter over quarter. The 54% increase in total operating expense quarter over quarter is a combination of the $0.7M increase in cost of product revenue, less than $0.1M increase in Research and Development, $0.1M increase in General and Administrative expense, and $4.0M impairment loss on indefinite-lived intangible assets, offset by a $0.5M decrease in Marketing and Sales.
  • Cost of Product Revenue: The total Cost of Product Revenue for the quarters ended June 30, 2019 and June 30, 2018 was $1.3M contrast to $0.6M, respectively. The increase of $0.7M was a direct result of a raise of Mytesi sales, equipment maintenance costs, and non-conforming inventory that was written off.
  • Research and Development: The Research and Development expense was $1.7M for the quarter ended June 30, 2019 contrast to $1.6M for the quarter ended June 30, 2018. The increase of $0.1M in R&D for the second quarter of 2019 was primarily Because of a $0.1M investment in commercial manufacturing, increase of $0.1M in clinical trial consulting, offset by a decrease of $0.1M in personnel and related benefits.
  • Sales and Marketing: The Sales and Marketing expense was $2.2M for the three months ended June 30, 2019 as contrast to $2.7M for the quarter ended June 30, 2018. The major difference between the two periods is a decrease in marketing programs and advertising costs for Mytesi. Direct marketing and sales expense reduced $0.6M, other expenses reduced $0.3M largely Because of decrease in advertising costs, offset by a $0.4M increase in personnel and related benefits Because of the expansion of our sales and marketing headcount in support of Mytesi.
  • General and Administrative: The General and Administrative expense for the quarter ended June 30, 2019 totaled $3.2M contrast to $3.1M for the quarter ended June 30, 2018, a 3% increase quarter over quarter. The G&A spend of $3.2M for the quarter ended June 30, 2019 consisted of the continued G&A support functions such as audit, legal, compliance, accounting, human resources, IT, public company expense, financing and facilities. The increase in G&A quarter over quarter was primarily Because of third-party consulting fees for the support of public company regulatory reporting and financing activities, and a raise in non-cash stock-based compensation expense.
  • Loss from Operations: For the second quarter of 2019, the net loss from operations was $10.6M, contrast to a net loss of $7.1M in the second quarter of 2018. This was a 50% increase in operating loss quarter over quarter Because of a net increase in total net revenue of $0.8M offset by a $4.3M increase in operating expense. The $4.3M increase in operating expenses includes a $4.0M impairment loss on indefinite-lived intangible assets and $0.3M increase in other operating expenses.
  • Net Loss: For the second quarter of 2019, the net loss was $16.7M contrast to $7.7M for the second quarter of 2018. The second quarter of 2019 includes a $2.7M loss on extinguishment of debt, increased interest expense of $2.9M, and $4.0M impairment loss on indefinite-lived intangible assets, offset by a decrease in loss from operations of $0.5M and a gain on change in fair value of warrants, derivative liability and conversion of option liability of $0.1M.

JAGX price switched up 21.68% 20-Days Simple Moving Average dropped -19.47% from 50-Days Simple Moving Average and fell -88.47% from 200 Days Simple Moving Average. The stock as of last trading session moved 43.00% up from its 52 week low and was -99.18% behind its 52 week high.

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