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1. Company Snapshot

1.a. Company Description

Jaguar Health, Inc., a commercial stage pharmaceuticals company, focuses on developing prescription medicines for people and animals with gastrointestinal distress, specifically chronic, and debilitating diarrhea.The company operates through two segments, Human Health and Animal Health.It markets Mytesi for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy.


The company also develops Crofelemer for multiple possible follow-on indications, including cancer therapy-related diarrhea; orphan-drug indications for symptomatic relief of diarrhea in infants and children with congenital diarrheal disorders and for adult and pediatric patients for short bowel syndrome with intestinal failure with; supportive care for diarrhea relief in inflammatory bowel diseases; diarrhea-predominant irritable bowel syndrome; and for idiopathic/functional diarrhea.In addition, it develops lechlemer, a second-generation anti-secretory agent for cholera; and Canalevia, an oral plant-based drug candidate to treat chemotherapy-induced diarrhea in dogs and exercise-induced diarrhea in dogs.Jaguar Health, Inc.


was founded in 2013 and is headquartered in San Francisco, California.

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1.b. Last Insights on JAGX

Negative drivers behind Jaguar Health's recent performance include the company's decision to include cryptocurrency as a treasury reserve asset, which may be perceived as a high-risk move. Additionally, the extension of the maturity date of its convertible promissory notes from June 30, 2025 to January 30, 2026, may raise concerns about the company's liquidity and financial stability. Furthermore, the company's plans to pursue approval of Canalevia in the European Union for treatment of general diarrhea in dogs may be seen as a distraction from its core business. The recent update on the company's orphan disease intestinal failure development program for crofelemer also highlights the challenges and uncertainties associated with developing new treatments for rare diseases.

1.c. Company Highlights

2. Jaguar Health's Q2 2025 Earnings: A Mixed Bag

Jaguar Health reported net revenue of approximately $3 million for Q2 2025, representing a 35% increase from Q1 2025 and a 10% increase from Q2 2024. The company's loss from operations increased by $800,000 to $8 million, while non-GAAP recurring EBITDA was a net loss of $7.9 million. The net loss attributable to common shareholders increased by $900,000 to $10.4 million, with an actual EPS of -$10.26, significantly worse than estimates of -$5.08. The revenue growth was driven by a 6.5% increase in Mytesi prescription volume from Q1 2025.

Publication Date: Aug -22

📋 Highlights
  • Revenue Growth:: Q2 2025 net revenue reached $3 million, up 35% from Q1 2025 and 10% from Q2 2024.
  • Clinical Progress:: Crofelemer reduced TPN/intravenous fluids by 27% in MVID and 12.5% in SBS pediatric patients in a proof-of-concept study.
  • Regulatory Pathways:: Seeking expedited approval via EMA’s PRIME and FDA’s Breakthrough Therapy for MVID/SBS indications.
  • Phase II Trials:: Two placebo-controlled trials (pediatric MVID and adult SBS) with results expected in H1 2026.
  • Animal Health Expansion:: Pursuing EU approval for Canalevia to treat general diarrhea in dogs, alongside US indication expansion.

Financial Performance

The company's financial performance was marked by a significant increase in loss from operations and net loss attributable to common shareholders. The non-GAAP recurring EBITDA loss was $7.9 million, indicating that the company's core operations continue to be loss-making. The actual EPS of -$10.26 was significantly worse than estimates, indicating a higher-than-expected loss. As Lisa Conte, CEO of Jaguar Health, noted, "We're excited about the financial results and the multiple near-term catalysts for crofelemer, which we view as value-enhancing and potentially transformative for patients and stakeholders."

Valuation Metrics

Jaguar Health's valuation metrics indicate a challenging financial situation. The company's P/E Ratio is -0.04, P/B Ratio is 0.23, and P/S Ratio is 0.29. The EV/EBITDA ratio is -0.81, indicating that the company's enterprise value is not supported by its EBITDA. The ROE and ROIC are also negative, at -498.13% and -86.72%, respectively. These metrics suggest that the company's financial health is a concern.

Business Development and Partnerships

Jaguar Health is seeking business development partnerships for licensed rights to its human and animal health products. The company is focused on transformative value-creation through clinical and regulatory catalysts. The recent results of an independent investigator-initiated proof-of-concept study in pediatric patients with intestinal failure associated with MVID and SBS showed promising results for crofelemer, with reductions in TPN and supplementary intravenous fluids. The company is seeking expedited regulatory approval for crofelemer in these indications.

Future Prospects

Jaguar Health is conducting two placebo-controlled Phase II trials for crofelemer, one in pediatric MVID patients and one in adult SBS patients, with results expected in H1 2026. The company is also developing crofelemer for cancer therapy-related diarrhea, with a completed global Phase III study that showed statistical significance in breast cancer patients. Analysts estimate revenue growth of 18.4% next year, but the company's financial health and valuation metrics raise concerns about its ability to achieve this growth.

3. NewsRoom

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Jaguar Health Makes Submission to EMA Regarding EU Approval Pathway for Canalevia for General Diarrhea in Dogs Based on Data from Completed Study

Dec -02

Source: accessnewswire.com

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Jaguar Health Secures New Patent for Crofelemer in Short Bowel Syndrome, Strengthening Global IP Position Ahead of Additional Clinical Milestones

Nov -24

Source: accessnewswire.com

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In Support of Possible Expedited Approval Pathway for Crofelemer for Treatment of Microvillus Inclusion Disease (MVID), Jaguar Health Submits Amended Protocol to FDA for Ongoing Placebo-Controlled Clinical Trial

Nov -20

Source: accessnewswire.com

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Jaguar Health, Inc. (JAGX) Q3 2025 Earnings Call Prepared Remarks Transcript

Nov -17

Source: seekingalpha.com

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Jaguar Health Reports Third Quarter 2025 Financials: Net Q3 2025 Revenue Up Approximately 4% Versus Net Q2 2025 Revenue

Nov -17

Source: accessnewswire.com

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Jaguar Health to Hold Investor Webcast Monday, November 17 at 8:30 AM Eastern Regarding Q3 2025 Financials & Corporate Updates

Nov -14

Source: accessnewswire.com

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Jaguar Health Provides Recap of November 8, 2025 Presentation on Groundbreaking Results of Proof-of-Concept Study of Crofelemer for Treatment of Pediatric Intestinal Failure at NASPGHAN Annual Meeting

Nov -13

Source: accessnewswire.com

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REMINDER: Initial Groundbreaking Results of Proof-of-Concept Study of Jaguar Health's Crofelemer for Treatment of Pediatric Intestinal Failure to be Presented November 8, 2025 at North American Society for Pediatric Gastroenterology, Hepatology and Nutrition (NASPGHAN) Annual Meeting

Nov -06

Source: accessnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.95%)

6. Segments

Human Health

Expected Growth: 9.95%

Jaguar Health's 9.95% growth in Human Health is driven by increasing demand for Mytesi, a FDA-approved drug for HIV-associated diarrhea, and expanding sales of Neonorm, a product for cattle. Strong partnerships, growing distribution channels, and a robust pipeline of new products also contribute to the segment's growth.

Animal Health

Expected Growth: 8.5%

Jaguar Health's Animal Health segment growth of 8.5% is driven by increasing demand for Mytesi, a FDA-approved treatment for diarrhea in uninfected dogs, and Canalevia, a treatment for chemotherapy-induced diarrhea in dogs. Growing pet ownership, rising veterinary spending, and expanding distribution channels also contribute to the segment's growth.

7. Detailed Products

Mytesi

A non-opioid, first-in-class, oral medication for the treatment of diarrhea in adult patients with HIV/AIDS on antiretroviral therapy (ART).

Crofelemer

A novel, oral, plant-based drug candidate under development for the treatment of inflammatory bowel disease (IBD), including ulcerative colitis and Crohn's disease.

Canalevia

A prescription product candidate under development for the treatment of chemotherapy-induced diarrhea (CID) in dogs.

Neonorm

A non-prescription product candidate under development for the treatment of cancer therapy-related diarrhea in humans.

8. Jaguar Health, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Jaguar Health, Inc. operates in the pharmaceutical industry, where substitutes are available, but the company's products have a unique value proposition, making it difficult for substitutes to gain significant market share.

Bargaining Power Of Customers

Jaguar Health, Inc.'s customers are primarily healthcare providers and patients, who have limited bargaining power due to the company's specialized products and limited alternatives.

Bargaining Power Of Suppliers

Jaguar Health, Inc. relies on a few key suppliers for raw materials and manufacturing, giving them some bargaining power, but the company's strong relationships and diversified supply chain mitigate this risk.

Threat Of New Entrants

The pharmaceutical industry is highly competitive, and new entrants can easily disrupt the market with innovative products, making it challenging for Jaguar Health, Inc. to maintain its market share.

Intensity Of Rivalry

The pharmaceutical industry is highly competitive, with many established players and new entrants vying for market share, leading to intense rivalry and pricing pressure for Jaguar Health, Inc.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 87.95%
Debt Cost 3.95%
Equity Weight 12.05%
Equity Cost 8.47%
WACC 4.49%
Leverage 729.85%

11. Quality Control: Jaguar Health, Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Jaguar Health

A-Score: 3.2/10

Value: 9.6

Growth: 5.9

Quality: 3.5

Yield: 0.0

Momentum: 0.0

Volatility: 0.3

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Gain Therapeutics

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Quality: 3.5

Yield: 0.0

Momentum: 1.0

Volatility: 1.3

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.09$

Current Price

1.09$

Potential

-0.00%

Expected Cash-Flows