Shares of Jaguar Health Inc., a developer of herbal medicines for people and animals, soared more than 40% on Tuesday in large volume, expanding its recent strong gains and putting stocks at their highest level since mid-2019 .
There was no news pushing the JAGX stock market,
higher, but Jaguar has risen steadily since announcing a licensing deal in December with Canadian specialty pharmaceutical company Knight Therapeutics Inc. GUD,
in which Jaguar could receive up to $ 18 million in milestone payments.
Shares were last traded at $ 2.55, or up more than 200% during the year. By the end of December, it was still below $ 1. A total of 209 million shares had changed hands at noon, five times the average of 39 million in 65 days.
San Francisco-based Jaguar received approval from the U.S. Food and Drug Administration in 2012 for its Mytesis therapy, a treatment for non-infectious diarrhea in adults with HIV / AIDS in antiretroviral therapy.
The company is now working on other indications for therapy, including diarrhea related to cancer-targeted therapy; indications for orphan drugs for infants and children with congenital diarrheal disorders and short bowel syndrome; supportive care for inflammatory bowel disease; irritable bowel syndrome; and for idiopathic / functional diarrhea. In addition, according to its website, a second-generation proprietary antisecretion agent is being developed.
There are currently no research analysts on FactSet covering the shares, although Dawson James Securities covered it until April 2020.
In early December, the company said the Nasdaq had granted it an extension until March 10, 2021 to recover the price of its shares in accordance with the trading rules, which require it to trade above $ 1. for more than 10 consecutive trading days.
In November, the company posted a net loss of $ 8.27 million (21 cents a share) during the third quarter, after a loss of $ 11.7 million ($ 2.00 per share) during the previous period.
Revenue was $ 2.8 million, up from $ 973,000 the previous year.
Jaguar has a wholly owned unit called Napo Pharmaceuticals, which develops products for international markets using plants that grow in tropical forests.