Jaguar Health Plunges 64% After 1,100% Surge on FDA Fee Waiver
JAGX has more than doubled off its 52-week low of $2.35 on elevated volume (13× avg).
Summary
Jaguar Health shares are down 64% to $12.35 on Wednesday, reversing Tuesday's 1,100% surge to $34.46. The rally was sparked by an FDA PDUFA fee waiver for Mytesi, but the move was amplified by a 1-for-15 reverse split on September 17 that cut the float to about 520,000 shares. Underlying the reversal are persistent cash burn and dilution risks: Q2 net loss was $12.7M on just $1.2M in product revenue, and a September 3 424B5 filing signals a secondary offering. The stock remains highly volatile with a micro-cap float and going-concern warning.
At the time of this announcement, JAGX was trading at $13.58 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $17.9M. The 52-week trading range was $2.35 to $1,280.95. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.