Jaguar Health Inc (NASDAQ: JAGX) is making a strong run for the top in the market today after announcing that it has entered into an agreement with the ADAP Crisis Task Force surrounding Mytesi®. As you would imagine, the agreement led to excitement among investors, causing the stock to make a run for the top. Today, we’ll talk about:
- The agreement the company announced;
- what we’re seeing from the stock as a result;
- and what we’ll be watching for ahead.
JAGX Enters Agreement With ADAP
As mentioned above, Jaguar Health is having an incredible day in the market today after announcing an agreement with ADAP. In a press release issued early this morning, the company announced that its wholly-owned subsidiary, Napo Pharmaceuticals, has signed an agreement with the ADAP Crisis Task Force.
According to the terms of the agreement, the JAGX subsidiary will offer a reduced price to the Aids Drug Assistance Programs in all U.S. states and territories for the purchase of Mytesi®. Mytesi® is a first-in-class anti-secretory prescription drug that has been approved by the FDA for symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy. Under the terms of the agreement, a Task Force price has been established for Mytesi®, meaning that all state ADAPs are guaranteed the same reduced price for the drug; ultimately expanding patient access. In a statement, Lisa Conte, President and CEO at JAGX, had the following to offer:
We are very happy to have entered into this Agreement with the Task Force as part of our ongoing efforts to reduce barriers to Mytesi® access… ADAPs provide HIV-related services and approved medications to more than half a million people in the U.S. each year, and we expect this Agreement to help further expand the number of patients able to benefit from the novel, first-in-class anti-secretory mechanism of action of Mytesi®.
What We’re Seeing From The Stock
Today’s news was great for Jaguar Health. While the company will offer a reduced price to ADAP, sales of Mytesi® are likely to skyrocket as a result of the deal, ultimately lifting the bottom line. So, it’s no surprise that excited investors are sending the stock through the roof this morning. At the moment (9:45), JAGX is trading at $0.21 per share after a gain of $0.03 per share or 17.81% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on JAGX. In particular, we’re interested in following the sales of Mytesi® following the execution of the agreement with ADAP. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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