Jaguar Health Inc (NASDAQ: JAGX) is having an incredibly strong day in the market today, and for good reason. The company announced that it has received positive news from the FDA surrounding CANA-001. Of course, the news caused excitement among investors and the stock is flying as a result. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to JAGX ahead.
JAGX Climbs On FDA News
As mentioned above, Jaguar Health is having an incredibly strong day in the market today after announcing news that it has received from the FDA. In a press release issued early this morning, the company announced that the United States Food and Drug Administration’s Center for Veterinary Medicine (CVM) has indicated that the Company’s Reasonable Expectation of Effectiveness (RxE) Technical selection is complete toward the conditional approval of CanaleviaTM.
Canalevia is a treatment designed by JAGX for chemotherapy-induced diarrhea (CID) in dogs. The news comes based on the CVM’s review of the results of the company’s completed pilot study of the treatment for this indication. Ultimately, today’s news brings the company’s treatment one step closer to regulatory approval. In a statement, Dr. Michael Guy, DVM, MS, Ph.D., Vice President and Clinical Veterinarian at JAGX, had the following to offer:
Jaguar has now completed two of the four required technical sections of the Company’s application for conditional approval of CanaleviaTM for CID in dogs. With receipt of conditional approval for this indication, we would expect to conduct the commercial launch of Canalevia for CID in dogs in mid-2019.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news surrounding Jaguar Health proved to be overwhelmingly positive. After all, with this news from the FDA, Canalevia is one step closer to regulatory approval and commercialization. So, I’m not exactly shocked to see the stock flying in the market today. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:14), JAGX is trading at $0.24 per share after a gain of $0.10 per share (70.00%) thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
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 continued development of Canalevia as well as the rest of the company’s pipeline of candidates. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!