Jaguar Health Announces New Employee Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Jaguar Health, Inc. (NASDAQ:JAGX) granted nonstatutory stock options for 45,000 shares to a new employee effective October 13, 2020. The options, at an exercise price of $0.315 per share, are part of the Company's Inducement Award Plan and aim to incentivize new hires. The options vest 25% after nine months and monthly thereafter over the next 27 months, contingent on continued employment. Jaguar Health specializes in plant-based gastrointestinal products, with its MYTESI product approved by the U.S. FDA for treating noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy.

Positive

• Strengthened employee incentives through stock options, potentially enhancing retention and performance.
• Indicates growth and expansion of the workforce, which may contribute to future company development.

Negative

• Grant of stock options could dilute existing shareholder equity.
• Uncertainty about the new employee's immediate impact on the company's performance.

SAN FRANCISCO, CA / ACCESSWIRE / October 16, 2020 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") announced today that effective October 13, 2020, the Company has granted nonstatutory stock options for the purchase of up to 45,000 shares of the Company's common stock to one new employee as inducement awards under the Company's Inducement Award Plan. The nonstatutory stock options were granted as an inducement material to the new employee's acceptance of employment with the Company and were approved by the Compensation Committee of the Board. The nonstatutory stock options have an exercise price of $0.315 per share, representing the closing price of Jaguar's common stock as reported by Nasdaq on the grant date. The nonstatutory stock option award has a 3-year term and vests 25% at nine months (9) from the last day of the month of the employee's date of hire, and vests monthly thereafter for the remaining twenty-seven (27) months. Vesting of the nonstatutory stock option is subject to the employee's continued service with Jaguar through the applicable vesting dates.

About Jaguar Health, Inc.

Jaguar Health, Inc. is a commercial stage pharmaceuticals company focused on developing novel, plant-based, sustainably derived gastrointestinal products on a global basis. Our wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based 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 and the only oral plant-based prescription medicine approved under FDA Botanical Guidance.

For more information about Jaguar, please visit jaguar.health. For more information about Napo, visit napopharma.com.

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%).

See full Prescribing Information 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.

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:

Peter Hodge
Jaguar Health, Inc.
phodge@jaguar.health
Jaguar-JAGX

SOURCE: Jaguar Health, Inc.

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FAQ

What nonstatutory stock options were granted by Jaguar Health on October 13, 2020?

Jaguar Health granted nonstatutory stock options for 45,000 shares at an exercise price of $0.315 per share to a new employee.

What is the vesting schedule for the stock options granted by Jaguar Health?

The options vest 25% after nine months and monthly for the following 27 months, contingent on the employee's continued service.

How does the stock option grant affect shareholders of Jaguar Health?

The grant could potentially dilute existing shareholder equity, impacting stock value.