The shares of Jaguar Health Inc., a developer of herbal medicines for people and animals, skyrocketed by more than 40% on Tuesday in massive volume, extending its recent strong gains and putting the shares on their way to their highest level since mid 2019.
There was no news boosting the JAGX stock,
higher, but Jaguar has risen steadily since announcing a licensing agreement in December with Canadian-based specialist pharmaceutical company Knight Therapeutics Inc. GUD,
where Jaguar could receive up to $ 18 million in payments in stages.
The stock was last traded at $ 2.55, or more than 200% in the year to date. At the end of December, it was still under $ 1. A total of 209 million shares changed hands at noon, or about five times the 65-day average of 39 million.
Jaguar, based in San Francisco, received approval from the U.S. Food and Drug Administration in 2012 for its Mytesi therapy, a treatment for non-infectious diarrhea in adults with HIV / AIDS on antiretroviral therapy.
The company is now working on other indications for therapy, including cancer-related therapy-related diarrhea; indications for orphan drugs for babies and children with congenital diarrheal disorders and short bowel syndrome; supportive care for inflammatory bowel diseases; irritable bowel syndrome; and for idiopathic / functional diarrhea. In addition, a second-generation proprietary anti-secretory agent is in development for cholera, according to its website.
There are currently no research analysts at FactSet covering the shares, although Dawson James Securities covered until April 2020.
In early December, the company said it had received an extension from Nasdaq until March 10, 2021, to get its stock price back in compliance with listing rules, which require it to trade above $ 1 for more 10 consecutive trading sessions.
In November, the company recorded a net loss of $ 8.27 million, or 21 cents a share, in the third quarter, after a loss of $ 11.7 million, or $ 2.00 per share, in the same period. last year.
Revenue reached $ 2.8 million, up from $ 973,000 a year earlier.
Jaguar has a wholly owned unit called Napo Pharmaceuticals, which is developing products for international markets using plants that grow in tropical forests.