Jaguar Health (NASDAQ:JAGX) Stock Makes a Bullish Move: A Good Buy Now?

Italian subsidiary company of Napo Pharmaceuticals, Dragon SPAC, which is also the wholly owned subsidiary of Jaguar Health (NASDAQ:JAGX) on 19th July, 2021 shared financing for gross proceeds of about,830,000 euros.

Net proceeds will be harnessed for funding the company’s contemplated business combination with Napo EU as well as activities of combined Napo EU/Dragon SPAC entity. The merger will be done in 80 days and additional funding may be sought for the combined entity.

Napo EU formed for expanding access to plant-based medicines crofelemeras well as lechlemer to Europe addresses unmet gastrointestinal medical needs. Jaguar will give an exclusive license to study, develop as well as commercialize crofelemer for the region of the European market for specific indications. The initial focus was on pursuing the accelerated conditional marketing authorization pathway from the European Medicines Agency.

Lisa Conte, Jaguar’s president and CEO and Napo EU board member, said that the firm is looking forward to changing lives of people suffering from orphan disease leading to intestinal failure.

SBS market globally was $568 million in 2019 and may reach $4.6 billion by 2027, according to a report from Vision Research Reports.

The merger will enable Jaguar to receive license and development milestone fees for SBS from the entity of $12.5 millionand also get double-digit royalties on cumulative annual sales of crofelemer in Europe.

Market Reaction:

On Monday, JAGX stock gained 10.69% at $1.45 with more than 17.28 million shares, compared to its average volume of 11.11 million shares. The stock has moved within a range of $1.2700 – 1.5500 after opening the trade at $1.29. Over the past 52-week, the stock has been trading within a range of $0.1850 – 4.4700.