Jaguar Health Inc (JAGX) Q1 2024 Earnings Call Transcript Highlights: Strategic Expansions and ...

GuruFocus Research

15 May 2024 at 3:02 am·3-min read

Release Date: May 14, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Jaguar Health Inc reported a 20% increase in Q1 2024 net revenue compared to Q1 2023, and a 4% increase compared to Q4 2023.
The company has expanded its commercial footprint into cancer-related supportive care with the in-licensing of FDA-approved oral mucositis product Gelclair.
Jaguar Health Inc is actively pursuing new opportunities in oncology supportive care, aiming to establish a leadership role in this area.
The company has multiple clinical efforts across the globe, including trials for rare diseases with potential for early patient access programs in Europe.
Net loss attributable to common shareholders decreased by approximately $2.9 million from Q1 2023 to Q1 2024.

Negative Points

Mytesi prescription volume decreased by 7% in Q1 2024 compared to Q4 2023 due to insurance deductibles reset.
Prescriptions of Mytesi slightly decreased by 2.5% in Q1 2024 compared to Q1 2023.
Despite improvements, the company still reported a substantial loss from operations of $8.2 million in Q1 2024.
Non-GAAP recurring EBITDA reported a net loss of $7.5 million in Q1 2024.
The company faces uncertainties regarding market acceptance of new products and competitive pressures.

Q & A Highlights

Warning! GuruFocus has detected 9 Warning Signs with JAGX.

Q: Can you provide an update on the financial performance of Jaguar Health in Q1 2024 compared to previous quarters? A: Carol Lizak, CFO of Jaguar Health, reported that the combined net revenue for Q1 2024 was approximately $2.4 million, marking a 20% increase from Q1 2023 and a 4% increase from Q4 2023. However, Mytesi prescription volume decreased by 7% compared to Q4 2023 due to insurance deductibles resetting.

Q: What are the latest developments in Jaguar Health's clinical trials, particularly the on-target trial for cancer therapy-related diarrhea? A: Lisa Conte, CEO, highlighted that the top-line results for the on-target Phase 3 trial of crofelemer for the prevention of cancer therapy-related diarrhea are expected to be imminent. She emphasized the trial's significance in potentially broadening the label for crofelemer across various solid tumor types.

Q: How is Jaguar Health expanding its product offerings in the oncology supportive care market? A: Lisa Conte discussed the recent in-licensing of Gelclair, an FDA-approved product for oral mucositis, marking Jaguar's entry into cancer-related supportive care. She noted the positive reception at the Oncology Nursing Society Congress and outlined plans to further promote Gelclair at upcoming oncology events.

Q: What are the financial outcomes from operations and net losses in Q1 2024? A: Carol Lizak noted that the loss from operations decreased by $1.6 million year-over-year, from $9.9 million in Q1 2023 to $8.2 million in Q1 2024. Additionally, the net loss attributable to common shareholders decreased by approximately $2.9 million from $12.2 million in Q1 2023 to $9.2 million in Q1 2024.

Q: What future plans does Jaguar Health have for its crofelemer product in rare diseases? A: Lisa Conte explained that Jaguar is pursuing clinical proof of concept for crofelemer in treating intestinal failure associated with short bowel syndrome and MVID. She mentioned ongoing clinical efforts across North America, Europe, and the Middle East, aiming for early patient access in Europe based on upcoming proof of concept results.

Q: How is Jaguar Health addressing the market needs for supportive care in cancer treatment? A: Lisa Conte emphasized the unmet medical needs in cancer supportive care, particularly for managing side effects like diarrhea and oral mucositis. She detailed how Jaguar is focusing on providing solutions that improve patient comfort and treatment adherence, thereby enhancing quality of life for cancer patients.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

This article first appeared on GuruFocus.

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