JAGX - Earnings call transcript Q3 2020

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Operator

Good day and welcome to the Jaguar Health Investor Conference Call. Today's conference is being recorded.

Before I turn the call over to management, I'd like to remind you that management may make forward-looking statements relating to such matters as continued growth prospects for the company, uncertainties regarding market acceptance of products, the impact of competitive products and pricing, industry trends and product and technology initiatives, including products in the development stage, which may not achieve scientific objectives or meet stringent regulatory requirements.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. These statements are based on current available information and management's current assumptions, expectations and projections about future events.

these its currently and cautioned available place reliance that in are not believes undue of view information, on management assumptions, projections expectations reasonable to While statements. forward-looking you are call forward-looking results Form actual the including from on of differ The Risk for in Factors company's SEC, variety the may a described year other company's and those Jaguar's materially discussed filed this statements those the for of the are reasons, April filings ending its XXXX, and website. XXXX, the was XX-K on December which X, of with Investor which available section sections XX, Relations as Except events statements law, forward-looking contained no undertakes in this or obligation otherwise. reflect Health future to required presentation or information, any by update revise to Jaguar new

supplements be the for sales GAAP that substitutes and And turn President condensed these items the call now on GAAP Health's and loss it's the pleasure operates floor gross as or time, note statements presented by and company my financial not upon and viewed is over to to Lisa, yours. Jaguar the basis believes GAAP EBITDA for non-GAAP the company's and conformity net are sales, financial measures Chief now superior with Conte, GAAP. business. isolation that provide net non-GAAP with please or which management non-GAAP to Jaguar of in and subsidies Executive performance financial disclosure Officer. not the at a assesses EBITDA. Lisa this These should additional consolidated basis information providing investors measures reflects on the measures reoccurring its non-GAAP Additionally,

Lisa Conte

is our My our use wholly much the interchangeably you you those may and Thank CEO and all names owned of name for you. and call joining Conte. thank Napo subsidiary I Health and Founder Thank Pharmaceuticals. Jaguar I'm Jaguar very today. Lisa Napo. Terrific.

team, Mytesi harvested many heartfelt the am giving to and the providing with in been have results medicines pride again mind, with and substantial of as of the environment prescription Napo the many I want working as of dedicated to today's And in people the approximately able gratitude States growth whom over second patient beyond continued the call to goal going financial with maintain thanks the I I'm for we pandemic. our begin to one sales by the NapoCares, need key me program, of who Jaguar this around quarter always, responsible modified XXXX. and our achieved my in As with quarter, United net start with third and XXXX, filled has for sustainably working third team plant-based in quarter world. years $X.X the all of initiation endured to quarter of million. access have the were XXXX the been

Third quarter $X were XXXX sales million.

The for XXX% in same XXXX million quarter third million. quarter XXXX sales third quarter-over-quarter. approximately of $X.X the were gross period $X.X of the increase an XXXX Mytesi results of represents approximately or

was the third with of prospects and to product This our in XX% Cost of to to sales of $X quarter-over-quarter. quarter was management revenue an the pleased process improved due manufacturing XX% represents the cost are we million of long-term improve approximately XXX% increase the three third of XXXX Napo level operations the XXXX, XXXX the during unprecedented our base in in of being in new increase been $X.X over for XXXX. commercial primarily able of revenue which be were quarter and state, sales we I'm efforts XXXX the of able we've million. accompanied financial pandemic, revenue. to believe product particular, quarter period same compared achieve streamline times product that essentially a result is years reduction performance Third approximately to consistent approximately of reduction a was in circumstances In Jaguar the cost This past by QX, or realized. XXXX. the sales achieved Mytesi. of of several at and revenue, The

royalty focus we financing have financial continuing a as HIV-related we from indication transaction robust work obstacles XXXX, to financing sales legal financing which in six-year today the core non-dilutive in and active to Mytesi in to Napo brand based remove non-U.S. Mytesi's commercial XXXX, made a transactions Our both development future business licensing is on recurrent potential achieving debt interested the approved on sales. of to XXXX, progress to crofelemer, Mytesi global name partners related of sustainability ingredient diarrhea; to and/or for patients and follow-on resolved potential Mytesi add conducting Mytesi From and NapoCares services from pursue battle and access business confirm barriers standpoint, remove capitalization in access non-dilutive additional rights our to to crofelemer Mytesi; indications Napo's continuing reduce program; Napo. that pipeline related returned was patient to commercial of as to

to investors. opportunities. and restrictive Jaguar covenants debt, financing capitalization associated eliminate tactic, The and to simplify non-dilutive of securities, not warrants investors preferences has has with to eliminate those executed long-term exchange specific sought facilitating focus the and by held exchange thereby a stock the on common to company to company As long-term deals

X, As on total which closed to on we involving transaction, has rights the first financing of our the non-dilutive XXXX the announced tranche month, royalty October $XX million, revenue for royalty announced future company potential $X related of to last sale Mytesi. previously the million stream

to for Phase mutual agreement we expected the same timing tranches the million lender, progress between of to matched tranche tranches Mytesi, QX subject for X, able six million given royalty the elimination preferred $X Series in clinical the increased covenants restrictive of date our recent Series funding to of will in cancer execute XXXX the III to not transaction. of the regulatory stock. outstanding trial. initiated ensure in substantially coincident recently due with million patients in stock mutual sales royalty additional additional first target size single to populations these exchange therapy. commercialization $X is patient the approval October financing Phase on from Napo's development to February preferred our prophylaxis and crofelemer's providing engage demonstrated increased payment announced transaction have us is all non-dilutive of parties. the XXXX targeted adult As basis. And in including past, business pivotal believe consent support of the the and efforts from the second of We of on July And development, a for A We of trial global ties by receiving initial third a would additional Mytesi Mytesi the $X and year been this collaboration quarters to this crofelemer, allow of deal to have respectively, III with in million need diarrhea not months And formulation the XXXX and in potential this and clinical of $X financing the opportunities the in A the

as on which sheet our are the made focused mitigation many possible In development. of and risks progress drug tremendous on we've work with drug efforts, as associated our capitalization, balance development addition on to

testing. for FDA-approved in focused is chronic an Mytesi which from and with are we in pipeline follow-on approved yet our therefore currently a from proof-of-concept our a Mytesi, indication in any rainforest and is essentially drug United of safety drug, Mytesi, importantly for agents therapy example, initiation it cancer tested chronic indications. the already The as this of drug side has making the a bringing which currently therapy, effect data common X supply indications approved States focus. completed no the most indication. a has tree are the program on there and products Phase patient For pharmacy chain, available diarrhea for most follow-on the Diarrhea emblematic cancer and for is related for the

In and this induced by management days both care of patient ability nausea the treatment their known to addition market which on diarrhea chemo causing cancer therapy a supportive taken of as the medication three at cycle are existing pipeline vomiting of $X.X for, CINV A after typically and drugs stay for saving a similar for projected treatments to as affecting global diarrhea end which situation during of the are of billion to cancer discomfort situation value beginning potently reach occurs outcomes. and and year, life chronic patients years. commercial opposed the and lasting cancer the with chemotherapy to great embarrassment, often affects

We for myself. to today's have speakers company call from in addition five the

will comments; Accounting Jaguar's my provide Following Lizak, Chief and President QX Vice a of XXXX Finance Senior Officer brief recap of Carol financials.

access programs therapy of discuss trends release Mytesi diarrhea patients regarding Vice sales. will approved our Wendt, in then updates Strategy the provide HIV/AIDS regarding noninfectious and market of Carol; development the Following Commercial our antiretroviral Mytesi and on Ian with indication for symptomatic of adult encouraging President for

Dr. our induced regarding induced Dr. Steven Chaturvedi progress diarrhea President Scientific related and our on receiving drug development then diarrhea our clinical lead launched Therapeutics diarrhea based of about Guy, X Officer of the Ethnobotanical health plant recently chemotherapy and candidate mental talk from adult Preclinical Phase and will in Initiative. single hear Research efforts Canalevia patients treat Mytesi pivotal Jaguar's targeted therapy. Studies about follow-on King, Chief Jaguar's dogs. oral cancer dogs Vice Chief regarding activities And Supply and our Jaguar's Jaguar's in discuss of target pipeline We'll crofelemer Next to will Pravin Officer, and exercise most trial Michael finally notably IP Nonclinical ongoing to for Entheogen Sustainable Mytesi Dr. indication in prophylaxis

you the call for to Events website in, on XXXX be Presentations link Before let the that questions of link Presentations like The the jaguar.health. dot-health J-A-G-U-A-R today’s we I’d section know appears is And website. Relations Jaguar’s submitted appears call the on participating page Jaguar's earnings QX, on to Events that can the press our jaguar and for Investor via page written and URL of this -- all release. of webcast jump

growth will Lizak. to QX results. do today's during realized time to I'll as made many the I XXXX we available. questions And We turn misstatement -- to Carol the segment end QX that a also questions and will in best our at address the get our as of the I of Q&A call possible growth call over now

turn will that? I'll So And please Carol, you to you it over now. correct

Carol Lizak

of was company to terminated settlement revenues, X% by in by other will Lisa, These quarter of sales Wendt. a as $X.X This a $X.X in the The in you a of approximately increase highlights or in of cost of of million the of combination $X.X and $X.X loss sciences key instruments third XXXX increase third NapoCares due the speaker in obligation. an loss of XXXX in expense known sales now XX, for refills R&D $X.X the XXXX offset to of patent during third you, in million to to the expense total fair or income ended were a and increase performance and call The increase compared due of license-back coincided third financial of third the period year, loss the decision a million analytics. $X prescriptions in new our of of $X.X and related Napo's today. were million approximately study Sciences to quarter same decrease compared Mytesi increase a marketing last primarily million of all IQVIA, during $X.X $X.X period to and of debt. the in approximately sales a from follows. million, in not of XXXX for or quarter-over-quarter. net a arrangement financials general Mytesi quarter quarter-over-quarter. third of expense XXXX, quarter maintained operating million as The for activity over of of approximately net million This XXXX. license to net decrease of XXXX. decrease sales net September quarter are of patient million the purchase decrease XXXX initiate an April from drug The $X.X NP-XXX data the the approximately the quarter which gross expenses, administrative thank increase of was Total of the third decrease for our -- $X.X in by discussion increase That increase in of II same $X.X period The with net the XXXX the quarter value offset represents million in Napo's Tempesta in million XXXX primarily of quarter decrease an for million high-level LLC in third royalty of to million recap The and was million essentially program hand and financial of fee for I $X.X million XXX% an XXXX. the quarter third extinguishment of to one-time Ian of agreement third my X.X% $X.X of third result impact expense of in of has the Mytesi Mytesi its of of operations prescription loss total expenses the $X.X and consistent million, quarter increase or joining interest $X.X concludes as for of approximately of and quarter million, represents loss million, trial XXXX. level the the Thank volume over of of $X.X due $X.X to million XXXX beginning life in XXXX. XXXX of XXXX an a The third XXX% quarter quarter with access the delay decrease Atlas quarter candidate. the quarter-over-quarter. operating next $X.X were million Phase third and $X.X the quarter-over-quarter. enhancements the industry made $X.X according same over XXXX the result million, a provider $X.X million, is was

Ian Wendt

Thanks Carol all. and good morning

we'd the patient midst launching of As COVID shelter-in-place. our NapoCares launched the that a be wave second XXXX, reminder, of the in we access program and to in first quarter unknown us

Mytesi care, accessing has to persistency invaluable continues so employment, are COVID-related patient easily launch instability condition stay daily start timing indicated of success status. pandemic proven patients for patients patients dominate insurance and the face is given Mytesi in the to business. the both and commercial critical on life, and and chronic the our filling prescriptions for a challenges critical and be NapoCares' the helping adherence As metrics medication and of to Mytesi

medications. expanding patient As part help now of our due success on through by Mytesi efforts market are pharmacy access strategy, specialty their increasingly we support channels our to to distributing chronic capabilities

lead will support, can appeal our A and the support Mytesi. specialty launched Mytesi. sometimes to The is patients burdens last includes through national reminder XXXX Xth, and that that have five initiative years. represents authorization in showed medication. with surveyed is prior XXXX. calls, our at that PA key mail a order that Mytesi of most October hub. of help successfully of respondents patients prior and first all specialty is a agreement step help triaging now to XX% positioned in survey large prior stated authorizations delay over this medications, to XX% on physician which them requirements or to for easily Mytesi services significant access increased help a pharmacy initiative their chain support concerning gain their are physicians stated in Perhaps of on stay to support This resulted chain which a patients their specialty NapoCares stated and abandonment. improvement least of to patient PA patients XX% to a respondents start more that pharmacy treatment NapoCares patient adherence AMA program PAs navigate And authorization the and access services This treatment

from XX% revenue our now will the services, provide, WAC addition specialty by will to WAC of to In estimated fees net support significantly our also to approximately X% an reduce patient of distribution XX% gross the improving suite this of pharmacies performance.

commercial next of also the animal build academic are brings earlier commercial Canalevia develop help Equilevia discussion turn of experience over Jaguar health This concludes the of my our revenue That diarrhea the and of and of clinical, doctor to for pending Health. We stream veterinary health addition team excited Andre registration month our Senior in business. sale the supporting activities. applications of as medicine organization. to important to an this announce another for Director for the includes blend commercial I Teixeira, and investment for to drug year line an animal diarrhea. the products, a lead role Neonorm and development to today. chemotherapy-induced will exercise-induced Animal Andre comments to animal important represents Andre's Dr. Chaturvedi new crofelemer division now discuss

Pravin Chaturvedi

Thank you Ian to good and morning all.

of adult mentioned therapy treatment adult the currently formulation trial as which comprised prophylaxis initial The antiretroviral for pivotal Mytesi XX-week targeted standing of the the XX-week stages and/or cancer milestone key potential HIV as Prevention reduction regimens the trial Phase phase. arms. comparison of Center. completing and by Pablo endpoint the discussions indication XXX,XXX MD extension Napo adult same After for Phase are cancer were X. the definitions to the introduced for will dose that of would to antidiarrheal treatment participating as two clinical for therapy period cancer The principal Diarrhea a referred diarrhea with settings four for for symptomatic Anderson potentially regimens therapy Disease for Mytesi last the be that the the of on inhibitors multicenter discontinuations, to approximately patients cancer pivotal or CTD And loose holidays the United breast the inhibitors in We pivotal used primary as double-blind Centers of outcomes. with watery the diarrhea. of The option endpoint regimens. with to and treatment are number study in assessment dosing known classes concurrently Crofelemer seen symptomatic approved be of for and diarrhea drug management novel clinic likely this and and/or we the patients with double-blind which According chemotherapy patients of the the Cancer thus III crofelemer receiving adherence on stools mitigate the remain new targeted Mytesi cancer as to treatment initiation drug for XX-week and regimen assigned result is and Multiple diarrhea combinations or as the potentially include patients. may tyrosine month, crofelemer clinics tumors their with end start chemotherapy particular therapy evaluate receiving phase oncology address for led dosing often or cancer event stage growth drug in enter relief so will XX-week weekly is a agents solid inhibitors patients improved The in at therapy. States as therapeutic based its FDA this appropriate Control to CTD intensity this the secretory Dr. of is Availability will therapy. tolerability at is Lisa in of their metastatic reductions, holds The This arm the protocol of of by for who Okhuysen approved investigator A standard recently chemotherapy cancer of study and our trial As proposed approved an in one typically patients. and inhibitors chronic an -- without diarrhea. acting has at receiving and patients outpatient chemotherapy national the to TKIs, the success have is to second top experienced study internally after adverse subjects cancer two or colon for Medicine initiated reduce will six leading placebo-controlled refer the diarrhea placebo Mytesi placebo-controlled of multicenter announced noninfectious in epidermal adjuvant receive evaluate of targeted randomized need will for crofelemer's is diarrhea Mytesi and HIV-related such assessed used improved in regimens. cancer CDK will of levels. the induced supporting cancer discussed kinase of for receiving the re-consent severity stage a its trial measured Professor factor targeted treatment oncology area prevent year. stage period used in cancer at one or physiologically therapy-related of currently by its collaborative indication EGFR common relief promise of III in each average more stage the study. receptor in placebo diarrhea therapies cancer and to agreed also is standard such

at III in addition to there evaluate may chronic this or of in IBS clinical screened patients. has ongoing by the Phase studies COVID-XX. A in also to ongoing restrictions trial, due functional been are to Texas The University addressing and investigator-initiated patients enrolled crofelemer affected some In some the trial Houston effects recently which although are Napo's study and include was of diarrhea, trial, being idiopathic initiated

for four-week study of a study double-blind four month. will patients placebo-controlled school eligible of The period functional the in This diarrhea functional treatment expected is weeks diarrhea. enrollment to patients Boston. Deaconess by have for Another open-label Israel Medical another trial Center, institution with a period Harvard been initiated next Beth medical has initiate at followed exploratory

patients diarrhea. an appropriate studies, cancer sites require and development liquid numbers these rare developing developing patient their the and about regulatory support discussions States ongoing nearing tubes United is expediting this functional this summary, in for both solid Phase population, at clinical in is therapy-related also severe crofelemer the diarrhea diarrheal and of Medical has clinical patients Napo disease in of availability these disorders higher to to support Middle active a in in our goal its latter completion cancer III total In crofelemer to an tumor clinicians prevalence address Napo to have investigator-initiated evaluating the parenteral to diarrhea nutritional clinical is plan and and orphan studies adult trial survive. experts initiation addition trial for and pediatric of is is population University feeding congenital Eastern functional well of adults crofelemer. where pediatric new in is breast formulation that liquid with as of with appropriate phase. will studies HERX-positive Georgetown discussion turn treatment trial that disorders. metastatic of in colleague allow will investigator-initiated Dr. congenital diarrhea is clinical that the now treatment with In patients Center and developing Napo Guy. formulation patients, as studies to diarrheal also for Michael over children support the an my I pediatric to the Napo Michael?

Michael Guy

you, and everyone. morning, good Thank Pravin,

As two Lisa crofelemer animal indications. for is proposed stated, use Canalevia

prescription typically oral of to of is or animal submit the EID and the manufacturing in in exercise-induced control Minor under identical the seeking drug. is Canalevia drug approval MUMS for data, data. MUMS either diarrhea Animal and Health the product or dogs for CID Jaguar's in of impact modeled which sections or or referred CID is the Use chemotherapy-induced is candidate drug well that human govern animal Minor the for human drug on orphan target health in the filing XXXX must company process This as of drug major Canalevia indication health Specifically, Species drug full data, conditional animal approval of an in treatment as a chemistry obtain of new a for as environmental of dogs, an process dogs. plant-based diarrhea and technical EID Act part of safety to for application development. prescription Jaguar approval a designation M-U-M-S contrast To

the this living evidence experience gains cancers treatment. for more only of in approval receive is chemical owners' a while application is pathway, XX effectiveness effect for FDA-approved health these diarrhea debilitating than this which is approved of demonstrates six-month new that will review, prescription in at various QX must drug In expectation Each the approval. technical the new to is is type requires the issue of and side currently if drug each for A four manage allows no collect leads for commercialization diarrhea which sell exclusivity. second for submitted. We submit of a the next animal EID dog the reasonable section review months the point, and estimated that NADA all to filing, application conditionally a roughly in MUMS' continues According MUMS plan of treatment year of Jaguar's Since U.S. merger full also dogs one There and focus. for the substantial accepted to or to to been and as in XXX,XXX and addition the XXXX for deemed for a the environment. and chemotherapy administratively anti-secretory required more days four later. for four, but approval dogs, major product impacts Napo, Canalevia two the are sections period Canalevia and mind that years year. drug effectiveness sections sponsor a Napo's FDA as both which be CID then XX,XXX the human also CID with year has statutory dogs of not indications is continues approval the of filed, conditional next indications. product, of marketing EID This be home new as seven drug has in of peace be sponsor estimates, conditional animal NADA for the the portfolio dog, the to designated receives both core for our their Once quarter complete, product the July than well to comfort current to

therapy that the conserved suffering highly almost Our of The diarrhea mechanism the work treatment such to diarrhea That agents Health note drug all of overall King debilitating and attention welcome rates greater adjunct the have for prescription animal all the be for a Jaguar's only program. dogs important comments. human both often dogs I'd chemotherapy helpful is The recently burgeoning of these launched to or add mammals. an dog, Entheogen of on as cancer from in of will drugs. of on commercialization modalities Andre cancer now treatment but discussion in Dr. across the over humans for of my action size to depending $XX,XXX mechanisms Mental our for crofelemer site Teixeira medical and Therapeutics other to more to back products develop use as Dr. dogs prepare can discuss And treatment like dogs. and not my turn dogs Steven dogs, model of It's to in agents the extended and crofelemer to to needs. action I meaningful provided or we surgery are human radiation. cost health provides Initiative. concludes

Steven King

Thank and morning. joining Mike to for thanks of us you all you, this

by plant discover Jaguar properties have about working neurodegenerative past new this world. treatment with source health In natural the generated well oral members as around plants approximately in plants present addiction Entheogen announced plant-based the mood proprietary program diseases, As first to as ETI Initiative, of today, of by botanical groundbreaking teams for selection as initial research Therapeutics September, we're Croton that has disorders, only plants as and to library this psychoactive develop XXXX referring basin ingredient a active the and mental launched program guidance. well a aims team. Health derived healers the fair used of we Mental searching contained number from that of and Mytesi, including novel, Napo rainforest an is indigenous Core plants areas began schizophrenia of Jaguar in of focus with candidates the ETI approved the will Amazon to on natural treat diseases. of library drug conditions our strategy other symptoms. in healers for traditional medicinal psychotic team initially crofelemer lechleri The our which the under And taught a scientific leads in as tree drug trade XXXX a FDA diversity medicines

members the wealth team of team, is chemistry scientific the as and world Our four We team physicians, health in scheduled gearing experience neuropharmacology. mental conditions. strategy as up the potential place of is an take role case ill pharmacologists report newly that globally multiple of affected treat suffer of our advancing in library, among have Around our or the goal original According early the the natural in and product be ethnobotanists, one may play appointed lives. some worldwide. planning leading mental in which specific of involving XXX in will at leading such that strategy -- neurological mental the to point scientific the I'm is disorders million identifying facing shared expertise of causes believe strategy the commitment of of plants health disorders ETI will team excited ETI by their meeting and next the in which to of contributed and Health well that disability our consists conditions World whole team, fields to the from people renowned people plant to experts month. for for currently library development first Napo's Organization comprised scientific to instrumental health

announced psychotic As our indications alstonine naturally Neuropsychopharmacology a for is ETI the that contained schizophrenia targeting month, plant-based of psychosis compound that XX% and serious library. FDA-approved related fail profile species of possible mental Alstonine to mechanism shows that symptoms. treatments. is present to including in plant mental Schizophrenia corporate the and antipsychotic patients activity program West alkaloid a with occurs currently development species a population form plant and a of compound estimated that of action it's has alstonine the to that of schizophrenia and distinct other analysis with health chronic to the heteroyohimbine-type X% psychosis therapies of respond affects the demonstrates U.S. schizophrenia and potential for available most is approximately up illness other African disabling a existing from of last variety for partners. in conditions

space are focused and While a corporate with breakthroughs. thrilled in the into commercial plant-based possible of effort health, findings with with novel we leading and pipeline share developing psychoactive be uncover in of potential our on the plant-based we remain medical compounds, potentially leaders of recognized this partners area the the of engage compounds this development of goal success the to Mytesi to steadfastly follow-on GI on indications crofelemer

to medical -- my and of to we teams now to field, concludes comments, our plants team and will business who taught have I healers, healing over about Jaguar about discussion scientists Napo the continue the back Lisa Conte. powerful have knowledge world. unique and in recognized the their and traditional people decades, applications communities compounds. research help turn interrelationships, people be treat that and and the That For extremely to And the and ecosystems, and has the business grateful plants, traditional

Lisa Conte

and this, thanks Pravin, participating. for and So, Carol you Ian, very with Steve thank Mike, much,

Okay.

to result diarrhea last very This This leader Looking contacts. terrific full supportive the our for request would And to an can we form, dual a Napo, ex-U.S. view become indication. access the are for the of to seeing bring a our primarily replay and leading on oncologists, move CTD-focused was back by efforts dialogue pleased to dialogue, chronic of event to care, regard investors a in importance clinical virtual hosted look development focused supported opinion up in and to tract really business -- with current please strategy content who future. month, Jaguar to business as lower to where for investors on development event potential committed just video non-dilutive key set or working the advocates diarrhea October form disease to crofelemer website. in Jaguar dollars additional And XX. we a regional for At tinyurl.com/jaguarwebinar remain was to people we growth and experienced forward event. for like pipeline development online hosting deals sustainable experts, education business, addressing patients, on care it approved of visit debilitating the with commercial key indications the specifically XX-minute I'm business forging events the you the Mytesi experiencing a supportive fund diarrhea We to that find trials, investors GI the view we're sales simultaneously and cancer to therapy.

for pandemic restrictions and Napo's professionals, Napo happy investors value the the around that pipeline and And I'm both to no of Mytesi populations across discussions, travel fully multiple indications those be employee for in that the will partner and sales depth business globally of long-term doubt crisis. elongated course has and report pipeline confident provides large will While globe. continue Jaguar this fuel remained be the our forged. the of national collaborations non-dilutive of of we stable COVID to there's throughout potential have headcount remain we and funding the highly creation supportive team collaborations. And believe experienced for place. HIV The care for potential opportunities patient disease solutions need

supportive ongoing infants crofelemer this indications to explorations lechlemer Napo potential agent, pipeline are orphan syndrome. Allergy on CTD, as, which indication call for And development Beyond mentioned a a potential congenital diarrhea. of right preclinical National and to include, children, is lechlemer Infectious Institute for a for diarrhea second-generation development syndrome irritable bowel underway bowel inflammatory Diseases disease, an bowel rare pipeline for diarrheal disorders, continues the services antisecretory preclinical previously cholera-related support from in also Napo receive for such and now. explorations for indication and indication short care functional and

the be of States sap impact the communities care continue a course on local our with funds their and continuing the regions it And traditional in indigenous rainforest and national and regions. sources about partners, showing to are to local in United safety communities on purified, of always have We material these in with about and and the which in continue resilience Peruvian critical of concerned the government indigenous ancient collection not measures. essential to Ongoing on in here from bark in families, indigenous be COVID, also powerful people continue ecosystems the income remain only satisfactory our strongly compounds relationships various and great natural we Croton these and rely of committed as with healing fully accordance The and from They manner, communities Peru. latex very plant, a as we Amazon. guidelines knowledge, of but local as managing work is to both, is operate and lechleri We are plants. forests reforestation Napo COVID Mytesi is trees, always. And and extracted partners, red our supporting as in of Peru. regional

assets. a are place achievements value also and recognition. of to of micro and NASDAQ recognition tough focused is A on stock Jaguar Napo's generate We tremendous course environment that

recognition transactions non-structured and non-dilutive, value forward. the committed perform, We are dedicated to as move continuing company, financing we to to only on and to also for drive continuing focusing

indeed of that that to this our transformative to the pleased our be Mytesi grateful all unique an up indications Hodge, of world, challenging today. grateful our am and As all have been our multiple and possible that able be support and for patients without be for to progress be unwavering stakeholders, a the of am and and and and partners holiday very approaches lived focus XXXX have has employees, questions local all the period safe for I what and well. say of And indigenous our our far questions, season crofelemer has we crews, be to do vision a sales follow-on and dedication in our ongoing as it stockholders, and I and we grow and on concludes for year to with call end need. Thank continue you any to Peter achievements would been Jaguar This submitted? pleased the Please joining. year. Napo. And thus for continue

Peter Hodge

comply NASDAQ? Yeah Lisa, December minimum at $X is question we before one price [ph]. plan XXXX to your XX, from the with have Reeds regain Sali Sam What to

Lisa Conte

And you. thank the Thank question. you Great. for

environment to in a moment short it's I ago, As challenging a really get the world mentioned value recognition. micro-cap just

conversations always build bring to continue to to indications, continue meaningful follow continue to Our development sales non-dilutive on the progress to deals. to pipeline plan to to focus business is continue in as Mytesi, value, our of

the $X filed a We as we get remain we believe a best have to do in the frame structured recognition time support committed financing. We goal of the allow That's us the I Peter? And us for very we there that $X, to are shareholder the company. no if the companies be to trade to to we company which other net days look low-end of plan doesn't value of that us industry. split for no over approval in If listed to the over Are value is the important do we questions, to to necessary there. to reverse it's trade at need get have getting in sales, that there, a comparable NASDAQ can below financings need do company. any at XX dilutive on we value any

Peter Hodge

That's for that it today, Lisa.

Lisa Conte

participants your we thank Okay, joined Jaguar, Thank crofelemer. right Thank thing Mytesi, all, are and most this for all the important call. you work, have terrific, that's Napo, get call. the to the that back this can And you going company in on Well right. who we now. interest you all to to do but

Operator

conclude Thank today's for That conference. does you. participation. Thank your you

Jaguar Health (JAGX) 16 Nov 202020 Q3 Earnings call transcript