Jaguar Health Inc (NASDAQ:JAGX) posted revenues of $20.4 million (up 147.9% YoY) in 2020. The company derived lower sales from animal-related products.
Its operational expenses increased marginally by 4% to $36 million in 2020. The increase is on the backdrop of $5.3 million inducement expenses related to Series 3 warrants and Series B convertible warrants.
Issues non-statutory stock options
Jaguar Health announced the issue of non-statutory grants to new employees effective from March 26, 2021. As per the new grant, employee 1 can purchase up to 2,000 shares of the company, and employee 2 can acquire up to 3,000 non-statutory options. Similarly, it allowed new employees 3, and 4 to purchase up to 4,000 and up to 5,000 non-stock options. However, new employee 5 can purchase higher shares of up to 35,000.
The non-statutory stock options are inducement awards, each having an exercise price of $1.84 to new employees on their joining.
Supports the selection of NOMAD
Jaguar Health announced the support for selecting NOMAD (investment bank and nominated advisor). The Dragon SPAC (Dragon special purpose Acquisition Company) will get listed on the AIM Italia.
The Dragon SPAC will get merged with the subsidiary of Jaguar Health – Napo EU S.p.A. NOMAD is a necessity to support Dragon SPAC to ensuring compliance with the IPO process of Borsa Italiana to get listed on AIM Italia.
On March 15, 2021, the Napo team members held a scientific advisory meeting with the regulatory authority of the EU to develop and commercialize crofelemer to treat diarrhea related to coronavirus.
Diarrhea in patients infected with COVID-19 is an unmet need in Europe.
Incorporates NAPO EU Ancillary
Jaguar Health incorporated a subsidiary called Napo EU S.p.A., on March 15, 2021, Italy. Its main target is to take over Dragon SPAC.
CEO of Jaguar Health, Lisa Conte, said the company is excited to incorporate Nap EU S.p.A in the EU with the primary aim to merge with Dragon SPAC based in Italy.
Jaguar Health engages in developing innovative, non-opioid, and plant-based prescription remedies for animals and people suffering from debilitating and chronic diarrhea.