Jaguar Health Reports 2024 Financials: 2024 Net Revenue Up Approximately 20% Over 2023
Jaguar Health (NASDAQ:JAGX) reported strong financial results for 2024, with total net revenue reaching $11.7 million, marking a 20% increase from $9.8 million in 2023. The company's Q4 2024 revenue was $3.5 million, up 13% from Q3 2024 and 53% from Q4 2023.
Prescription products revenue (Mytesi, Gelclair, and Canalevia-CA1) grew 19% to $11.5 million in 2024. Mytesi prescription volume increased by 3.9% year-over-year. The company reduced its operating loss by $3.5 million to $30.8 million in 2024, while net loss decreased by $2.8 million to $38.5 million.
Research and Development expenses decreased by $2.1 million to $16.5 million, while Sales and Marketing expenses increased by $1.2 million to $7.7 million. The company expects first results from proof-of-concept trials for crofelemer in rare diseases in Q2 2025.
Jaguar Health (NASDAQ:JAGX) ha riportato risultati finanziari solidi per il 2024, con un fatturato netto totale che ha raggiunto $11,7 milioni, segnando un aumento del 20% rispetto ai $9,8 milioni del 2023. Il fatturato del Q4 2024 dell'azienda è stato di $3,5 milioni, in aumento del 13% rispetto al Q3 2024 e del 53% rispetto al Q4 2023.
Il fatturato dei prodotti prescritti (Mytesi, Gelclair e Canalevia-CA1) è cresciuto del 19% a $11,5 milioni nel 2024. Il volume delle prescrizioni di Mytesi è aumentato del 3,9% rispetto all'anno precedente. L'azienda ha ridotto la sua perdita operativa di $3,5 milioni a $30,8 milioni nel 2024, mentre la perdita netta è diminuita di $2,8 milioni a $38,5 milioni.
Le spese per Ricerca e Sviluppo sono diminuite di $2,1 milioni a $16,5 milioni, mentre le spese per Vendite e Marketing sono aumentate di $1,2 milioni a $7,7 milioni. L'azienda prevede i primi risultati dai trial di prova-concetto per il crofelemer in malattie rare nel Q2 2025.
Jaguar Health (NASDAQ:JAGX) reportó resultados financieros sólidos para 2024, con ingresos netos totales que alcanzaron $11.7 millones, marcando un aumento del 20% desde $9.8 millones en 2023. Los ingresos de la compañía en el Q4 2024 fueron de $3.5 millones, un aumento del 13% desde el Q3 2024 y del 53% desde el Q4 2023.
Los ingresos por productos prescritos (Mytesi, Gelclair y Canalevia-CA1) crecieron un 19% a $11.5 millones en 2024. El volumen de recetas de Mytesi aumentó un 3.9% interanual. La compañía redujo su pérdida operativa en $3.5 millones a $30.8 millones en 2024, mientras que la pérdida neta disminuyó en $2.8 millones a $38.5 millones.
Los gastos de Investigación y Desarrollo disminuyeron en $2.1 millones a $16.5 millones, mientras que los gastos de Ventas y Marketing aumentaron en $1.2 millones a $7.7 millones. La compañía espera los primeros resultados de los ensayos de prueba de concepto para el crofelemer en enfermedades raras en el Q2 2025.
재규어 헬스 (NASDAQ:JAGX)는 2024년 강력한 재무 실적을 보고했으며, 총 순수익이 $1170만에 달해 2023년 $980만에서 20% 증가했습니다. 회사의 2024년 4분기 수익은 $350만으로, 2024년 3분기 대비 13%, 2023년 4분기 대비 53% 증가했습니다.
처방 제품 수익(Mytesi, Gelclair, Canalevia-CA1)은 2024년에 19% 증가하여 $1150만에 달했습니다. Mytesi의 처방량은 전년 대비 3.9% 증가했습니다. 회사는 2024년 운영 손실을 $350만 줄여 $3080만으로 기록했으며, 순손실은 $280만 감소하여 $3850만이 되었습니다.
연구 및 개발 비용은 $210만 감소하여 $1650만이 되었고, 판매 및 마케팅 비용은 $120만 증가하여 $770만이 되었습니다. 회사는 2025년 2분기 희귀 질환에 대한 crofelemer의 개념 증명 시험 결과를 기대하고 있습니다.
Jaguar Health (NASDAQ:JAGX) a annoncé des résultats financiers solides pour 2024, avec un chiffre d'affaires net total atteignant 11,7 millions de dollars, marquant une augmentation de 20 % par rapport à 9,8 millions de dollars en 2023. Le chiffre d'affaires de l'entreprise pour le 4ème trimestre 2024 était de 3,5 millions de dollars, en hausse de 13 % par rapport au 3ème trimestre 2024 et de 53 % par rapport au 4ème trimestre 2023.
Les revenus des produits prescrits (Mytesi, Gelclair et Canalevia-CA1) ont augmenté de 19 % pour atteindre 11,5 millions de dollars en 2024. Le volume des prescriptions de Mytesi a augmenté de 3,9 % d'une année sur l'autre. L'entreprise a réduit sa perte d'exploitation de 3,5 millions de dollars à 30,8 millions de dollars en 2024, tandis que la perte nette a diminué de 2,8 millions de dollars à 38,5 millions de dollars.
Les dépenses de recherche et développement ont diminué de 2,1 millions de dollars pour atteindre 16,5 millions de dollars, tandis que les dépenses de vente et de marketing ont augmenté de 1,2 million de dollars pour atteindre 7,7 millions de dollars. L'entreprise s'attend à obtenir les premiers résultats des essais de preuve de concept pour le crofelemer dans les maladies rares au 2ème trimestre 2025.
Jaguar Health (NASDAQ:JAGX) hat für 2024 starke finanzielle Ergebnisse gemeldet, mit einem Gesamtumsatz von 11,7 Millionen US-Dollar, was einem Anstieg von 20% gegenüber 9,8 Millionen US-Dollar im Jahr 2023 entspricht. Der Umsatz des Unternehmens im 4. Quartal 2024 betrug 3,5 Millionen US-Dollar, was einem Anstieg von 13% im Vergleich zum 3. Quartal 2024 und 53% im Vergleich zum 4. Quartal 2023 entspricht.
Der Umsatz aus verschreibungspflichtigen Produkten (Mytesi, Gelclair und Canalevia-CA1) stieg 2024 um 19% auf 11,5 Millionen US-Dollar. Das Rezeptvolumen von Mytesi stieg im Jahresvergleich um 3,9%. Das Unternehmen reduzierte seinen operativen Verlust um 3,5 Millionen US-Dollar auf 30,8 Millionen US-Dollar im Jahr 2024, während der Nettoverlust um 2,8 Millionen US-Dollar auf 38,5 Millionen US-Dollar sank.
Die Ausgaben für Forschung und Entwicklung sanken um 2,1 Millionen US-Dollar auf 16,5 Millionen US-Dollar, während die Ausgaben für Vertrieb und Marketing um 1,2 Millionen US-Dollar auf 7,7 Millionen US-Dollar stiegen. Das Unternehmen erwartet die ersten Ergebnisse aus den Machbarkeitsstudien für Crofelemer bei seltenen Krankheiten im 2. Quartal 2025.
- Total net revenue increased 20% year-over-year to $11.7 million
- Q4 2024 revenue grew 53% year-over-year to $3.5 million
- Operating loss reduced by $3.5 million to $30.8 million
- R&D expenses decreased by $2.1 million due to Phase 3 trial conclusion
- Interest expense decreased significantly from $6.4 million to $0.2 million
- Net loss remains substantial at $38.5 million for 2024
- Sales and Marketing expenses increased by $1.2 million
- Non-GAAP Recurring EBITDA loss slightly increased to $34.7 million
- Neonorm product revenues were minimal
Insights
Jaguar Health's 2024 financial performance shows 20% year-over-year revenue growth to
The revenue improvement stems partly from prescription volume growth for Mytesi (up
The company's fundamental challenge remains the substantial gap between revenue and operating expenses, with non-GAAP recurring EBITDA showing a
For a microcap company (
The total net revenue for the year ended December 31, 2024 of approximately
The total net Q4 2024 revenue of approximately
Jaguar expects first results in Q2 2025 of proof-of-concept (POC) investigator-initiated trials (IIT) of crofelemer for the rare diseases short bowel syndrome with intestinal failure and microvillus inclusion disease, with additional POC IIT results expected throughout 2025
FDA meeting in the second quarter of 2025 on the statistically significant results of the Phase 3 OnTarget trial of crofelemer in the prespecified subgroup of patients with breast cancer
REMINDER: Jaguar to host investor webcast Monday, March 31st at 8:30 a.m. Eastern regarding Q4 2024 financials and company updates; Click here to register for webcast
SAN FRANCISCO, CA / ACCESS Newswire / March 31, 2025 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") today reported consolidated financial results for the year ended December 31, 2024.
The total net revenue for the Company's prescription products (Mytesi®, Gelclair®, and Canalevia®-CA1), non-prescription products, and license revenue was approximately
COMPANY FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2024:
Net Prescription Products Revenue: The combined net revenue for the Company's prescription products (Mytesi, Gelclair, and Canalevia-CA1) was approximately
$11.5 million in the year 2024, representing an increase of approximately19% over the combined prescription products net revenue in the year 2023, which totaled approximately$9.7 million . The combined prescription products net revenue was approximately$3.5 million in the fourth quarter of 2024, representing an increase of13% over the combined prescription products net revenue in the third quarter of 2024, which totaled approximately$3.1 million , and an increase of approximately51% over the combined prescription products net revenue in the fourth quarter of 2023, which totaled approximately$2.3 million .License Revenue: For the fourth quarter of 2024, we recognized license fees of
$42,000 from a securities purchase agreement with a European partner, which was supported by a binding term sheet. This amount was consistently recorded in the third quarter of 2023 and 2024. As of December 31, 2024, the total deferred revenue associated with this contract amounts to approximately$0.7 million .Mytesi Prescription Volume: Mytesi prescription volume increased approximately
3.9% in the year 2024 over 2023. Mytesi prescription volume increased by approximately3.4% in the fourth quarter of 2024 over the third quarter of 2024 and increased by approximately9.4% in the fourth quarter of 2024 over the fourth quarter of 2023. Prescription volume differs from invoiced sales volume, which reflects, among other factors, varying buying patterns among specialty pharmacies in the closed network as they manage their inventory levels.Neonorm™: Revenues for the non-prescription Neonorm products were minimal for the fourth quarters of 2024 and 2023.
| Year Ended |
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Financial Highlights |
| December 31, |
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(in thousands, except per share amounts) |
| 2024 |
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| 2023 |
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| $ change |
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| % change |
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Net product revenue |
| $ | 11,689 |
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| $ | 9,761 |
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| 1,928 |
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| 20 | % |
Loss from operations |
| $ | (30,831 | ) |
| $ | (34,291 | ) |
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| 3,460 |
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| -10.1 | % |
Net loss attributable to common stockholders |
| $ | (38,492 | ) |
| $ | (41,300 | ) |
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| 2,808 |
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| -7 | % |
Net loss per share, basic and diluted |
| $ | (5.23 | ) |
| $ | (1.79 | ) |
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| (3 | ) |
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| 192 | % |
Cost of Product Revenue: Total cost of product revenue decreased by approximately
$82,000 , from$2.04 million for the year ended December 31, 2023 compared to about$2.0 million for the year ended December 31, 2024.Research and Development: The R&D expense decreased by
$2.1 million , from$18.6 million for the year ended December 31, 2023 compared to$16.5 million in 2024, primarily due to the conclusion of the Phase 3 OnTarget clinical trial, which reduced trial-related contract manufacturing services and regulatory activities.
Sales and Marketing: The Sales and Marketing expense increased by
$1.2 million , from$6.5 million in 2023 to$7.7 million in 2024. The increase in this expense was mostly due to expanded market access activities and the commercial launch of Gelclair.General and Administrative: The G&A expense decreased by approximately
$0.3 million , from$16.6 million in 2023 to$16.3 million in 2024, largely due to decreased business insurance and legal expenses.Loss from Operations: Loss from operations decreased by
$3.5 million , from$34.3 million in the quarter ended December 31, 2024 to$30.8 million during the same period in 2024.Net Loss: Net loss attributable to common shareholders decreased by approximately
$2.8 million , from$41.3 million in the year ended December 31, 2023 to$38.5 million in the same period in 2024. In addition to the loss from operations:
Interest expense decreased by approximately
$6.2 million , from$6.4 million for the year ended December 31, 2023, to approximately$0.2 million for the same period in 2024, primarily due to changing the accounting of certain debt instruments designated at Fair Value Option (FVO).
Non-GAAP Recurring EBITDA: Non-GAAP recurring EBITDA for 2024 and 2023 were a net loss of
$34.7 million and$34.5 million , respectively.
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| December 31, |
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(in thousands) |
| 2024 |
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Net loss attributable to common stockholders |
| $ | (38,492 | ) |
| $ | (41,300 | ) |
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| (2,808 | ) |
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| 7 | % |
Adjustments: |
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Interest expense |
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| 231 |
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| 6,382 |
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| 6,151 |
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| 96 | % |
Property and equipment depreciation |
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| 67 |
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| 78 |
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| 11 |
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| 14 | % |
Amortization of intangible assets |
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| 1,834 |
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| 1,934 |
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| 100 |
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| 5 | % |
Share-based compensation expense |
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| 1,641 |
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| 2,115 |
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| 474 |
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| 22 | % |
Income taxes |
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| - |
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Non-GAAP EBITDA |
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| (34,719 | ) |
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| (30,791 | ) |
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| 3,928 |
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| -13 | % |
Loss on extinguishment of debt |
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| (3,697 | ) |
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| (3,697 | ) |
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| 100 | % |
Non-GAAP Recurring EBITDA |
| $ | (34,719 | ) |
| $ | (34,488 | ) |
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| 231 |
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| -1 | % |
Note Regarding Use of Non-GAAP Measures
The Company supplements its condensed consolidated financial statements presented on a GAAP basis by providing non-GAAP EBITDA and non-GAAP recurring EBITDA, which are considered non-GAAP under applicable SEC rules. Jaguar believes that the disclosure items of these non-GAAP measures provide investors with additional information that reflects the basis upon which Company management assesses and operates the business. These non-GAAP financial measures are not in accordance with GAAP and should not be viewed in isolation or as substitutes for GAAP net sales and GAAP net loss and are not substitutes for, or superior to, measures of financial performance in conformity with GAAP.
The Company defines non-GAAP EBITDA as net loss before interest expense and other expense, depreciation of property and equipment, amortization of intangible assets, share-based compensation expense and provision for or benefit from income taxes. The Company defines non-GAAP Recurring EBITDA as non-GAAP EBITDA adjusted for certain non-recurring revenues and expenses. Company management believes that non-GAAP EBITDA and non-GAAP Recurring EBITDA are meaningful indicators of Jaguar's performance and provide useful information to investors regarding the Company's results of operations and financial condition.
Participation Instructions for Webcast
When: Monday, March 31, 2025 at 8:30 a.m. Eastern
Participant Registration & Access Link: Click Here
Replay Instructions for Webcast
Replay of the webcast on the investor relations section of Jaguar's website: (click here)
About Crofelemer
Crofelemer is the only oral FDA-approved prescription drug under botanical guidance. It is plant-based, extracted and purified from the red bark sap of the Croton lechleri tree in the Amazon Rainforest. Napo Pharmaceuticals, a Jaguar family company, 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, bowel incontinence, and cramping pain. Jaguar family company Napo Pharmaceuticals (Napo) focuses on developing and commercializing human prescription pharmaceuticals for essential supportive care and management of neglected gastrointestinal symptoms across multiple complicated disease states. Napo's crofelemer is FDA-approved under the brand name Mytesi® for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral 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 the Make Cancer Less Shitty patient advocacy program on Bluesky, X, Facebook & Instagram
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 (
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.
About Gelclair®
INDICATIONS
GELCLAIR® has a mechanical action indicated for the management of pain and relief of pain by adhering to the mucosal surface of the mouth, soothing oral lesions of various etiologies, including oral mucositis/stomatitis (may be caused by chemotherapy or radiation therapy), irritation due to oral surgery, traumatic ulcers caused by braces or ill-fitting dentures, or disease. Also, indicated for diffuse aphthous ulcers.
IMPORTANT SAFETY INFORMATION
Do not use GELCLAIR if there is a known or suspected hypersensitivity to any of its ingredients.
No adverse effects have been reported in clinical trials, although postmarketing reports have included infrequent complaints of burning sensation in the mouth.
If GELCLAIR is swallowed accidentally, no adverse effects are anticipated.
If no improvement is seen within 7 days, a physician should be consulted.
You are encouraged to report negative side effects of prescription medical products to the FDA.
Visit www.fda.gov/safety/medwatch, call 1-855-273-0468 or fill-in the form at this link.
Please see full Prescribing Information at:
https://gelclair.com/assets/Gelclair_PI_Decemeber_2021.pdf
Important Safety Information About Canalevia®-CA1
For oral use in dogs only. Not for use in humans. Keep Canalevia-CA1 (crofelemer delayed-release tablets) in a secure location out of reach of children and other animals. Consult a physician in case of accidental ingestion by humans. Do not use in dogs that have a known hypersensitivity to crofelemer. Prior to using Canalevia-CA1, rule out infectious etiologies of diarrhea. Canalevia-CA1 is a conditionally approved drug indicated for the treatment of chemotherapy-induced diarrhea in dogs. The most common adverse reactions included decreased appetite, decreased activity, dehydration, abdominal pain, and vomiting.
Caution: Federal law restricts this drug to use by or on the order of a licensed veterinarian. Use only as directed. It is a violation of Federal law to use this product other than as directed in the labeling. Conditionally approved by FDA pending a full demonstration of effectiveness under application number 141-552.
See full Prescribing Information at Canalevia.com.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements." These include statements regarding Jaguar's expectation that the Company will meet with the U.S. Food and Drug Administration (FDA) in the second quarter of 2025 regarding the statistically significant results of the OnTarget trial in the prespecified subgroup of patients with breast cancer, Jaguar's expectation that it will host an investor webcast on March 31, 2025, the Company's expectation that the first POC IIT result may be available in Q2 2025, and the Company's expectation that additional POC IIT results may be available throughout 2025. 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 several 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.
View the original press release on ACCESS Newswire