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Mar 31, 2023
Jaguar Health Q1 2023 Earnings Report
Net revenue decreased and net loss improved in Q1 2023.
Key Takeaways
Jaguar Health reported a decrease in net revenue for Q1 2023 compared to both Q4 2022 and Q1 2022, but the loss from operations improved over the same period. The company is focusing on patient voice in the HIV community and preparing for the introduction of crofelemer to the market for cancer therapy-related diarrhea.
Net revenue for Mytesi® and Canalevia®-CA1 was approximately $2.0 million in Q1 2023, a decrease of 40% compared to Q4 2022 and 25% compared to Q1 2022.
Loss from operations decreased by $2.0 million, from $11.8 million in Q1 2022 to $9.8 million in Q1 2023.
Patient enrollment completed for Phase 3 OnTarget trial of crofelemer for prophylaxis of cancer therapy-related diarrhea (CTD), with top line results expected in October 2023.
Submission of Investigational New Drug (IND) application planned for Q2 2023 to FDA for crofelemer for microvillus inclusion disease (MVID).
Jaguar Health
Jaguar Health
Forward Guidance
The company expects top line data for the Phase 3 OnTarget trial in October 2023 and plans to submit an Investigational New Drug application to the FDA for MVID in Q2 2023. They anticipate potential participation in revenue generating early access programs in Europe for MVID and other CDD patients targeted for 2024.
Positive Outlook
- Top line results from the OnTarget study expected in October 2023.
- Investigational New Drug application to the FDA for MVID planned for Q2 2023.
- Potential participation in revenue generating early access programs in Europe for MVID and other CDD patients targeted for 2024.
- Publications of data from proof-of-concept trials could support participation in early patient access programs for crofelemer for CDD or SBS.
- Participation in early access programs provides an opportunity for reimbursement while impacting the morbidity and high cost of care for these chronic unmet needs.