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Jaguar Health Inc. (JAGX-6.46%) has submitted its 10-K filing for the fiscal year ended December 31, 2024. The report provides an overview of the company's financial performance, including revenue, expenses, and net loss.
The company reported total revenue of $11.7 million for the year, an increase from $9.8 million in the previous year. Product revenue, primarily from the sale of Mytesi, was $11.6 million, with additional license revenue of $129,000.
Cost of product revenue decreased slightly to $2 million, resulting in a gross profit of $9.7 million. Research and development expenses were $16.5 million, down from $18.6 million the previous year, reflecting the conclusion of the Phase 3 OnTarget Trial.
Sales and marketing expenses increased to $7.7 million, driven by the launch of Gelclair in the US market. General and administrative expenses remained relatively stable at $16.3 million.
The company recorded a net loss of $39.3 million, a slight improvement from the $41.9 million loss in the prior year. Interest expense decreased significantly to $231,000 due to changes in accounting for certain debt instruments.
Jaguar Health continues to focus on the development and commercialization of Mytesi and other pipeline products, including crofelemer for cancer therapy-related diarrhea and rare disease indications.
The company acknowledges the need for additional financing to support its operations and development activities. It plans to seek funding through equity or debt financing, collaboration arrangements, and revenue from future product sales.
Jaguar Health's management has expressed concerns about the company's ability to continue as a going concern due to recurring operating losses and negative cash flows. The company is actively exploring strategies to optimize cash flows and secure additional financing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Jaguar Health Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.