Jaguar Health Reports Financial Downturn in 2023 Results

Jaguar Health, Inc. has disclosed its financial outcomes for the year ended December 31, 2023, revealing a decrease in net revenue to approximately $9.7 million, down 18% from the previous year. This decline was echoed in the fourth quarter of 2023, with revenues falling by 18% and 30% compared to the third quarter of 2023 and the fourth quarter of 2022, respectively. Lisa Conte, CEO, emphasized the company's focus on the Phase 3 pivotal OnTarget trial of Mytesi for cancer therapy-related diarrhea, expected to deliver top line results soon.

Despite the slump in revenue, Jaguar is actively engaging in research, notably supporting studies on crofelemer for microvillus inclusion disease and short bowel syndrome in various regions, with findings anticipated in 2024. Financially, the company reported a slight decrease in the loss from operations and a 13% reduction in net loss attributable to shareholders compared to 2022, offering a glimmer of optimism amidst the revenue downturn.

Jaguar has moderated its spending, notably in sales and marketing and general and administrative expenses, mirroring its ongoing adjustment to its financial strategies. In conjunction with the financial report, Jaguar reminded stakeholders of an upcoming investor webcast on April 1st to discuss the Q4 2023 financials and other company updates.