Shares of Jaguar Health Inc., a developer of herbal medicines for humans and animals, rose more than 40 percent in volume on Tuesday, recently expanding its strong gains and putting the stock at its best level since mid-2019.
There was no news to propel the JAGX stock,
but Jaguar has grown steadily since announcing a licensing agreement in December with Canadian specialty pharmaceutical company Knight Therapeutics Inc. GUD,
in which Jaguar could receive payments of up to $ 18 million.
The stock last traded at $ 2.55, or has risen more than 200% this year. At the end of December, it was still below $ 1. A total of 209 million shares changed hands by noon, or about five times the 65-day average of 39 million.
Jaguar of San Francisco received approval in 2012 from the US Food and Drug Administration for its Mytesi therapy, a treatment for non-infectious diarrhea in adults with HIV / AIDS on antiretroviral therapy.
The company is now working on other indications for therapy, including diarrhea related to targeted cancer therapy; orphan drug indications 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, a second-generation proprietary antisecretory agent is being developed for cholera, according to its website.
There are currently no research analysts on FactSet to cover the stock, although Dawson James Securities covered it until April 2020.
In early December, the company said that Nasdaq had granted an extension until March 10, 2021, to recover the share price in accordance with the listing rules, which require trading above $ 1 for more than 10 consecutive trading days.
In November, the company posted a net loss of $ 8.27 million, or 21 cents a share, for the third quarter, after a loss of $ 11.7 million or $ 2.00 a share during the year previous.
Revenue reached $ 2.8 million, up from $ 973,000 a year ago.
Jaguar has a wholly owned unit called Napo Pharmaceuticals, which develops products for international markets using plants that grow in tropical forests.