New York, May 21, 2026, 04:14 EDT
- Jaguar Health finished Wednesday at $3.67, gaining 9.2% with volume jumping.
- Revenue for the first quarter climbed to $20.3 million, mainly from a U.S. licensing agreement covering Mytesi and Canalevia-CA1.
- Crofelemer’s rare-disease trial is still the main longer-term test for investors in the company.
Jaguar Health Inc. shares rose Wednesday as the small drugmaker posted an 816% surge in first-quarter revenue. The bump came after a licensing deal that transferred U.S. commercial rights for Mytesi and Canalevia-CA1 to Woodward Specialty, which is linked to privately held Future Pak.
Shares finished the day at $3.67, gaining 9.2% from $3.36 on Tuesday. Trading volume jumped to 593,152 shares from 69,266, Jaguar’s LSEG-based price table showed.
Jaguar is looking to steer the focus off Nasdaq listing issues and small-scale sales, leaning now into its rare-disease pipeline. For the quarter ending March 31, the company posted total net revenue of $20.3 million, up from $2.2 million last year. Most of that, $19.1 million, came through license and grant revenue.
Jaguar posted what it called an unusual sales rebound, but the bump came from a $16 million license fee and $3 million from ending a buy-back option in the Future Pak deal. Product revenue dropped 45% year over year to $1.2 million, with Mytesi and Canalevia-CA1 U.S. sales now going to Future Pak after the January agreement.
Jaguar trimmed its loss, but remains in the red. The net loss to common shareholders came in at $7.0 million, better than the $10.5 million loss it posted last year. Income from operations was $10.2 million, helped by license revenue and lower spending on sales and marketing.
Jaguar’s next event is set for May 26, when the company will host an investor webcast covering its first-quarter results and corporate updates. CEO Lisa Conte is also on the docket to present at the Lytham Partners Spring 2026 Investor Conference on May 28, with that appearance to be virtual.
Crofelemer remains the key focus for Jaguar, which is developing the plant-based drug in a powder-for-oral-solution form to target rare intestinal failure disorders. On Tuesday, the company said the first pediatric patient with microvillus inclusion disease (MVID) has started the active-treatment extension in a pivotal trial. MVID is an ultrarare condition leading to intestinal failure in early childhood. Patients frequently need parenteral nutrition and fluids outside the digestive tract, sometimes more than 20 hours a day.
The company said its trial in MVID aims to see if crofelemer’s oral treatment can help cut the need for PS to maintain growth, hydration, electrolytes, and nutrition. “In MVID, the therapeutic goal is to evaluate crofelemer’s oral treatment to reduce the increased needs of PS to support growth, hydration, electrolytes, and nutritional requirements,” Dr. Pravin Chaturvedi, chief scientific officer of Napo Pharmaceuticals and Jaguar Health, said in the release. He added the extension phase is there to gather longer-term data on safety and efficacy. ACCESS Newswire
Conte called the trial’s continuation “a key milestone” for both development and the company’s regulatory submission timeline. He said Jaguar is looking at expedited regulatory options. An NDA is the main U.S. request to the FDA for drug approval. Jaguar said Napo aims to wrap up the trial in time to back an NDA filing by mid-2027, pending completion and regulatory alignment. ACCESS Newswire
Jaguar is still trading as a microcap biotech, not as a bigger GI-drug company like Ironwood Pharmaceuticals or Ardelyx. The market read is tight. A single trial, how its licensing works, even the risk to its exchange listing, all seem to matter more than the wider sector moves here.
Jaguar still has loose ends with its reporting. The company’s investor-relations page shows a Form 10-Q and an 8-K filed May 20, following a May 18 NT 10-Q—the notice to the SEC that says a quarterly filing is delayed. Jaguar said in that NT 10-Q it needs extra time to pull together information, including “significant and material subsequent event transactions.” Jaguar Health, Inc.
There’s a risk the revenue spike is just a one-off from the Future Pak deal, not from the core business. The MVID program is still in the trial phase, and crofelemer hasn’t been cleared by the FDA or EMA for MVID or short bowel syndrome with intestinal failure. Jaguar’s timeline itself shows any NDA filing may wait until mid-2027 if all goes right with trials and regulators.
Nasdaq is still in the picture. Jaguar said on May 8 it’s back in line with Nasdaq’s requirement for publicly held shares, but it got an extension to May 18 to meet the $1 minimum bid price rule. The company did a 1-for-35 reverse stock split to lift its share price. The reverse split cut the number of shares and pushed the price up, but didn’t change Jaguar’s value.
