Jaguar Health (JAGX) Q3 2024 earnings summary

Executive summary

• Q3 2024 net revenue was $3.1 million, up 14% sequentially and 11% year-over-year, driven by Mytesi and the launch of Gelclair.

• Mytesi prescription volume rose 10.9% sequentially and 2.7% year-over-year.

• Net loss attributable to common shareholders increased to $9.9 million from $7.8 million year-over-year.

• Launched Gelclair, a third prescription product, targeting oral mucositis in cancer patients, in October 2024.

• Completed pivotal Phase 3 OnTarget trial for crofelemer, with positive results in breast and lung cancer subgroups to be presented at SABCS.

Financial highlights

• Q3 2024 net revenue: $3.1 million, up 14% sequentially and 11% year-over-year; nine-month 2024 revenue: $8.2 million, up 9.6%.

• Loss from operations improved to $7.3 million from $8.8 million year-over-year.

• Non-GAAP recurring EBITDA net loss: $9.2 million (Q3 2024) vs. $6.2 million (Q3 2023).

• Net loss attributable to common shareholders: $9.9 million (Q3 2024) vs. $7.8 million (Q3 2023); nine-month net loss: $29.0 million, improved from $32.6 million.

• Cash balance at September 30, 2024 was $13.3 million, up from $6.5 million at year-end 2023.

Outlook and guidance

• Multiple near-term catalysts expected in Q4 2024 and early 2025, including clinical trial results and commercial launches.

• No intention to implement a reverse stock split in the near term.

• Current cash is not expected to fund operations for a full year; additional financing will be required.

• Focus on expanding institutional investor base and partnerships for late-stage development and commercialization.