Earnings call transcript Q1 2023

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Operator

Greetings and welcome to the Jaguar Health Investor Webcast. [Operator Instructions]

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 initiatives, including products in the development stage which may not achieve scientific objectives or meet stringent regulatory requirements.

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

forward-looking assumptions, currently projections not available undue on its view reasonable to believes reliance the of information, these management expectations are and in place While statements. your question other which differ section XXXX company's The company's webcast with a on the Form filings Risk the XX-K of variety Factors from and in XXXX discussed including described statements Investor during for for the those which materially of was reasons, forward-looking SEC actual XX, website. are this those sections its Jaguar's filed may March results and the of year the available Relations

otherwise. Except revise law, any Jaguar presentation by as contained statements no or in this required information, obligation or forward-looking new to to update reflect undertakes events future

which supplements non-GAAP These financial that additional recurring of Jaguar disclosure Additionally, or with consolidated not non-GAAP not GAAP these GAAP provide the loss condensed for non-GAAP a Company are sales on or the measures isolation with to basis note financial EBITDA. and by information presented that providing EBITDA measures reflects items and financial basis the conformity the Company its substitutes upon net believes that as non-GAAP and business. operates viewed statements in should GAAP be substitutes measures performance please net assesses in superior of and management GAAP. for investors

call over Officer. Conte, is recorded. being Executive is floor Lisa At this turn time, to conference yours. the pleasure Health's, Today's and the my Founder, it's Jaguar Lisa, Chief President to

Lisa Conte

welcome Lisa Founder, and for XXXX Health. name all comprehensive just Thank And as you Thank statements Jaguar CEO earnings to joining President Conte you is as all. first you. of my the you our the very quarter heard, you I'm and forward-looking Thank for webcast and well.

non-infectious earnings approval, in promotion an and to theme for is for the to therapy of of for overreaching introduction in raising development the prophylaxis aspect webcast, and and preparation regulatory commercialization population. importance comfort affected of every diarrhea, morning's its discussion including meaningful patient of labeling provide crofelemer awareness is treatment, our voice cancer this of drug diarrhea related this mitigation and potential While the related share

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community, to reach patient allow and We secretory emerging of in HIV the in believe diarrhea. cancer results treatments is paradigm-shifting collected number best often community will both the than this comorbidities. these relevance the much non-infectious of with us terms to targeted important chronic long-term affected that patients The of by for and cancer larger care serve potential diarrhea a

important. field the short moment in I who issue patient a and think important will on one a advocate find one will and this two oncologist, we have an you for thought interviews, video and from is We a in play from enjoy you leader well-recognized really which

First, however, I want performance XXXX. to first address our for the sales quarter

net of the submit the QX to compared and XXXX. prescription product a We sales first quarters in seen in we've five quarter this and decrease after product own to have consecutive quarter now compared growth, of prior prescription to sales

patient the reach side can care facilitate importance the into crofelemer indication. of this community the and again, learning it the moment perhaps of say voice likely and organization for me that is we have HIV a the a expansion call provide debt to Let wakeup of current approved loss

which a for living distribution improved facilitated The gross-to-net to reimbursement nearly shifted prior we program. authorization is Institute revenues adult model aspects as gaining difficult mix. and a incorporated HIV-AIDS had two the a out-of-pocket a so the Medicare the other to of and States and We in period, older and of the of are in trend quarter net to the aging or decrease an months mainly first specialty patient of access higher process XX XX% XX HIV we significantly by deductibles over the pharmacy a for sales years, and past during we in virus population the National last in over according United have patient resetting age results the much decreasing living year over distribution time years with improving the quarter. XX is patients our and costs of gut year their with seen plan of cost and population prior Health to those commercial first in quarter, Over have due payer this the

that prescription We the XXXX provision in reduce effect to QX QX to will patients. brand significantly Act implemented. the in in believe start of Reduction quarter due Inflation the abandonment in The the should this out-of-pocket legislation Mytesi year take that the specific for expenses Medicare dip first provisions to when a lower benefit

in XXXX. co-pays We first quarter over also year this believe for QX about net the QX half sales that in higher of account of decrease in the the

the taking effectively reach of diagnostic address market voice foundational Jaguar market larger our target patient the are into we larger crofelemer of related therapy market with much cancer newly million in the year potential our cancer diagnosed oncology to of understand for in people here the for learning diarrhea steps community we've United the States. help The indication HIV It US each the how estimated patients larger our is access some to the of activity. say I appears the be to much prophylaxis is To to needs introduction much of referring X.X to when at our the further lost preparations oncology to how continued incorporated the additional patients. shortfall, navigate to HIV of

there of common most United in X have estimated go their effect on side States, of the of therapeutic estimated an effect, reduced cancer the therapeutic are side an therapies the patients an targeted because with patients therapy or organically of their off XX%, their million non-infectious XX% dose, cancer diarrhea. life-saving annually of average rate targeted Additionally, dose diarrhea

guidelines With in supportive OnTarget the analogous of very say do now world referred fully care CINV fully for to to diarrhea enrolled Phase paradigm protocols first excited typically report treatment I products. therapy is there chemotherapy. cancer shift trial, generic is with that incorporate prophylactic about. market which cancer related and iHealthcareAnalyst, X of CINV, That Inc. OnTarget by This cytotoxic are addressed reach and according a market with three as again, to want the that nausea already $X.X and vomiting occurs XXXX prophylaxis to we're this good billion that that and enrolled projected trial chemotherapy-induced is the portion a to addressing days what from as of of is with crofelemer we global

Board. for targeted diarrhea, whom interviews the the talking Scientific tested two years place from in treatment-related about specifically diarrhea two short members this going with for months Advisory of first nothing cancer therapy-related segments comorbidity We're both would cancer curative therapy, are neglected consisting approved or metastatic entry With to recent chronic be both and several of amazing diarrhea we're and the for regarding to Jaguar market. of cancer of you scenarios videos crofelemer to several women,

investigator and treatment. research Swain, the diarrhea as chemotherapy-induced Oncology. and trial of for investigator-initiated served cancer at Sandy of American and University She Medicine cancer October published crofelemer Society preventing of urinal Professor HERX-positive Dr. Clinical ASCO, senior the which a who's Georgetown trial, former the X HALT-D breast peer-reviewed Phase patients was in President the last breast of evaluating

oncologist video specifically just Shanahan, exist. is a the effect avoid regarding who eloquently she shared full-time live, patient, cancer decision chronic Dr. says not so a And independent features with other patient Kelly chronic The therapies, targeted could diarrhea. side she breast made that metastatic to a of advocate, now who her

we Jaguar's trouble provide Financial year the recap more the hopefully, Jaguar's financial having this Officer, Chief Following Carol value will the little of Officer Financial of in Lizak, for will in of transformative be a company. up first terms we coming inflection and have so the feel will XXXX a we for videos, XXXX Carol review Chief milestones connecting, results that quarter Lizak, who's key detailed clinical

forward now the videos I'm We'll with move and it President Founder, Jaguar over Health. the I'll of Lisa I'm turn two to CEO Conte, and Pete.

Sandra Swain

Professor Hi, cancer oncologist of Medicine am a I'm medical and at Georgetown. Swain, Dr. Sandy I breast

Lisa Conte

feel tell me, was that and first of that a me So achievements the of of as being that Sandy, of President woman ASCO, particularly proud President ASCO? tell common some how you of all,

Sandra Swain

It's was. of what an organization, world of in XXXX in Oncology President is oncology. for was the Society the really the ASCO which Clinical American international I biggest

members. We XX,XXX have now

Conquer did cancer to foundation I investigators. women money I who women as of XXXX, in what the So Cancer started conquered part for raise young

Lisa Conte

is incredible. That quite Congratulations.

Sandra Swain

I really then do the National and breast Cancer to And really, my liked to training institute went cancer.

Lisa Conte

right. All

back So me cancer tell about care then?

Sandra Swain

that me. didn't that some time, things the we do of at first though NCI, of were the at Olympic we the drugs to were effective. And Well, like lot to chemotherapy have that a

I metastatic early the my treatments just were effective, in pretty with significant. some especially toxicities weren't so of that in career, saw but on And that disease our patients

Lisa Conte

And the interaction patient? what does that so like with

Sandra Swain

cancer scared that coming to every diagnosis the think Well, I person patient death. a or with is

but women in for ways. the it is. have with just most make for think part Cantor many choice and are makes want you that right see think the right never I to choice so gotten I I person harder because idea before, dealt choices because you many who's it's women no there the what a as harder

trust So talking physicians. that that the person to you to you're have

so for comfortable together up right the treatment. making feel they the we are their with try to trust really I decision So them can and that build

said, something treatments really Fortunately, in With where surviving. patients on. work we've that are advances breast extraordinary to pick is for best life. that being the the I specifically cancer, important it's HERX of And quality had

cardiac and I've interested been interested in So, always toxicity. in the that

many on diarrhea standard The problem treatment because targeted HERX I is regimen. other on therapy is the toxicity which significant a big work for patients

episodes did and we decrease study a try drug that decreased. to to were these the we in use called diarrhea HALT-D diarrhea of a And called did So patients. show we Crofelemer

Lisa Conte

chemotherapy-induced about vomiting? me tell So and nausea

Sandra Swain

last XX approved drugs probably XX and with Well, classes or years. have the vomiting, there been are nausea of over several that

treating very aggressive for and very vomiting nausea prophylactically we're about aggressive. So

mentioned in diarrhea in before, very worked and I that's I regimen cancer. things breast the I've study, is is HALT-D disruptive really the That because especially that on. did the of the one been interested I of As why

all are patients. for significant The toxicities. have now they We CDKX/X three the abemaciclib, palbociclib, and abemaciclib inhibitors. of Ribociclib that's diarrhea them, different have There and causes

the treat cause. not reduce do just to can can't but essentially. a because the causing you dose you the They're else constipation really You lot they opioids, have there's whole don't

Lisa Conte

the you research, treatment the are leadership to that you in have with meetings remarkable and So approach your your have. the in roles them, that the you individual hearing patient patient's in voice

Sandra Swain

So the have very are who I think it's helpful. just great very of I patient fortunately at looked and really important and ASCO in advocates is we this President, a was breast also vocal that's exact lot cancer, issue. When patient we -- we voice

Lisa Conte

the Do Europe, in to the Asia, care, you the for now find that we're use going -- oncology role supportive care. there's of word a role care the of in cultural supportive perhaps difference, U.S.

Sandra Swain

paternalistic in I think of many -- in they Europe, it is it's some different U.S. it any countries, countries my example, In don't to... that experience, to of not kind tends homogeneous the more like can be be way in Japan, but for toxicities.

Lisa Conte

feel you tolerable do toxicity? manageable toxicity, about terms, How the

Sandra Swain

nurses are nurturing whom write out strike tell they ever them is any because try more say I with I paper very of of side I because for worst helpful the very I will and things help the and and do some the nurses ever could these those the think really with interaction effects. the think to to manageable you that nurses are

Lisa Conte

nurses into you How for care do your bring the a patient?

Sandra Swain

right be on thing do for we they the and always that And were sure them the patient. doing dependent pharmacist. in I the asking questions would always there making treatments, Well, always,

Lisa Conte

Conte. Lisa Health Kelly CEO sitting I'm and here Jaguar the I'm an President of patient advocate, with I'm Shanahan. amazing Founder, Dr. and

Kelly Shanahan

cancer since Hi. OB-GYN, breast Shanahan, I'm dead metastatic Kelly now former not XXXX. with yet

Lisa Conte

and with for amazing a am amazing a Kelly thrown mom, into I a an the little herself got wife, thrown branch Dr. year. got who next just physician, women, Shanahan, here life little, targeted that leader,

Kelly Shanahan

to my I mastectomy, years I developed was a surgery. much And XXs I have probably at my a to office living When I thought, OB-GYN, much for Thank wine surgeon, Francisco I that in she traveling okay, my my overdue sudden Lake manager about to San and a my I inviting obvious nine-year-old me disc. about had you, Lisa, we with mammogram pain. an me Kelly, have Tahoe. go my business surprise, in so you're very chose scheduled very a you my was cancer, practice, a care here. daughter. daughter. bilateral that I five primary rehearsals, husband and prove an later, When active, was And could. solo going now, and OB-GYN, herniated I driving life, my disc. a as tasting going time, I I come life down slightly the was have back taking in up XXXX. involved for breadwinner, a theater I'll to and like MRI, being a went of as herniated daughter kid your dinosaur

I'll chemo, and broken there and the me. have I images her body. it a mail I at And reason Network, on are cancer but I when a get inhibitor cause to pain, scan every can go Kelly had metastasis on Coalition this if and pet that looked and go had And me, think we you that a regress. my at I while fails, we crazy cancer voice your the in phone. and to go put a break. to Cancer oncologist fails, back second bone we have said NCCN actually radiologist had I my aromatase went I'm drugs, in this the the National was on I an the on on did because when call to back third two with IV guidelines

for let's my active he's that four no keep XX evidence did it. like, showed doing just of months, within months I scan So disease but

Lisa Conte

are time, about Tells the your liking working? us you

Kelly Shanahan

ever in neuropathy I do in to would I but numbness permanent surgery again. I to And went be hands work my never, back feet. So did and my develop ever, that realized I able

want fingers a blow. huge don't was can't their wielding somebody a You if scalpel fill they that and

So with I various started becoming organizations, involved METAvivor. primarily advocacy

Lisa Conte

goals your patient a being are What in advocate?

Kelly Shanahan

advocacy And are disease the of in you goals a I will there that it's are It's it is the time that usual we In feeling is no are for is mean kill you instant metastatic sight. all first develop bonding. as friendship. the things like community, happen at got and the you prematurely, love when community, involved -- that friendships like selfish a I then -- there when software. have

Lisa Conte

All right.

that about, existing. me use on we are me educated just So tell that you terminology that does not should What living you mean?

Kelly Shanahan

living. keep So often get that's I matter as a the and the think to sometimes to next as how the attitude do I it with cancer, treatments But choose I it. the the day. of deal itself on of much yet any disease with possible, type for day just do than worse and wake not every are with I up dead can making with cancer just just and it's existing, treatments

of call they cancer. I themselves them it metastatic survivors, they call people breast is. like say like I drivers. to So a say living am self lot with

Lisa Conte

Okay.

up So made day, every your you you also choices, choices make wake about treatment? you've

Kelly Shanahan

so school. now now Most people about At the enough that XX high months to only enough, to was all XX get point, years. but quality change I through mattered got is daughter and living I that of six goal my a even my get to long existing But life. months am me thing might long

Lisa Conte

long It time? for a did not you fail

Kelly Shanahan

Right.

Lisa Conte

long Surprisingly time.

Kelly Shanahan

put want I to injection here see going aromatase [ph]. went to knows in my a for this it that you of to well, Francisco as you she cancer six we're San in And mutation put not change an want know first And very anymore. developed see metastatic my on her inhibitors and Go makes and brilliant We breast you I a incredibly on I said, Dr.Hokru had I inhibitor. was inhibitor, that expert world-renowned effective called think may her, CDKX/X that you've I fulvestrant. everybody years. cancer to on XXXX progression aromatase

Lisa Conte

How are effects you having? side of you sort are What feeling?

Kelly Shanahan

aromatase kept like I bad. joints. those my just person on I So XXX-year-old got symptoms a But my in if active, were I if not when had type stiffness walked I moving, kept I arthritis symptom up. inhibitor, too

Lisa Conte

that reasons able active multiple get very important. are there So staying to was being and

Kelly Shanahan

my side don't would she be side need I Very important can in then a sometimes medication. the well, I deal be on I to I medication like I you a also drug care make purple, and And put stand to a but deal a a could constipation. bother I me I deal bathroom. with effect don't live and area, I I to on cannot could am maybe to well bald, the put where that and That really I and on the with I a wouldn't vomiting near hike. although take me. -- another that was on if turn I'd really would. side like, a to I And beautiful say diarrhea. stand going effect medication purple we to that makes side medication a goes, skin not I and want on that doesn't care. drug to medication really with causes effect drug me cannot effect be

Lisa Conte

But let's talk -- let's Diarrhea... about

Kelly Shanahan

young adulthood. be that of to to that me that medication that inter have daughter a quality gotten to as so into motility not important is highly side a more not effects drugs, does a need side If does itself have mitigate much holy a additional unwanted side The effects. patients me yes, effect then effective the grail life acceptable is mitigation, my treatment would there's for I've

Lisa Conte

achieve you patient time? What advocate at to a want this as do

Kelly Shanahan

I they of and because information with and and because about for conferences don't thing. scientific who follow funds easier METAvivor it. not tweet these path can on people metastatic people their travel the big of who people I me. go I in Board I'm other conferences or the also they're of -- just it's oncologists for make so that research. I ability which to have financially they researchers, understand can't raises thousands ill the to the that cancer the either And attend finding the sit want room I to spread the usually cancer can't can to breast too Directors to or

Lisa Conte

would patients? what have And you for other advice

Kelly Shanahan

team. find have the care right You to

goals Here's are. what my

yourself. for advocating You're

If always money you're kid's great that various parent, at who PTA he'd be organizations. your raising for was for fund school, raising

Lisa Conte

Okay.

tell voice? me this growing metastatic So the What's voice growing about unique? a are population? -- Is you to important this

Kelly Shanahan

So higher a women, men at die Schattner People a really written doing about we higher From whites. And Blacks think get never Breast about and breast men and friend think at has cancer than have think I advocacy. rate cancer to our Shouts, I that's use affect important. book are recently cancer, doesn't we to rate. I cancer all called think my voices Elaine a Whispers talked just die that. I

Lisa Conte

in find meetings difference meetings you're in when Do a Europe, you at Asia?

Kelly Shanahan

talk I meetings in We with think and don't a I there who effects. of was said, I recently don't Asia. talk is don't but side he complain. Asia any talking and a been is about Asian We this descent like to things haven't we difference, about friend in

the that the absolutely least, we're U.S. is woman in and -- not at that is So don't we winy changing.

Lisa Conte

ask cross two going That's question. care is to want ask Supportive you, I'm to you cancer I care? --

Kelly Shanahan

Palliative out care, supportive although that like be Care, has ASCO term cancer metastatic guideline I care advanced the a Absolutely. a position patient should aka offered every supportive better. with paper

Lisa Conte

community? that is prevalent How the treatment in

Kelly Shanahan

care of anywhere it to palliative in institutions, providers because the enough lack are some of offered care to they patients And It's should supportive services. be resources not of referring a reserve what because close partly limited.

is life-shortening to awareness immediate cancer really but you breast it for Now it disease I to like say would an is the not metastatic some sense. de knowledge and that, opportunity thank a yes, spread about

Lisa Conte

preventative research What versus early to metastatic percentage of go dollars in treatment?

Kelly Shanahan

cancer that's nearly only into life, about three up research years care, of from metastatic X% breast research supportive X%, comprises quality issues about XX% five dollars. to to And enough, of ago. Not softer and

Lisa Conte

right. an you, to well learn cancer all powerful those part Lisa. It's patient women as these everybody All to can see in Thank had patient cancer the videos. how community. inspirational so to Thank from hope HIV you the circle advocacy from the you, much. advocacy health are bat opportunity impossible care now and community in community, I the for back the Thank overstate advocates in showing in profession, some HIV Peter full to the those. as community

so Board. to Advisory them have our honored So we're Scientific on

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We second to literally XXXX. an MVID investigational are to corner, FDA planning the quarter for the the in submit quarter around XXXX, application of drug we're second of in right new the

European early participate market, the For MVID in for and other revenue CDD potentially XXXX. patients could targeted programs generating access

do the these accordance In of guidelines early proof-of-concept European publications Crofelemer data could patient. countries, programs for countries, in unmet from Participation and not in early of provides Union opportunity an for access participation cost which needs. impacting programs the for morbidity for with high trials of care specific the access support European States patient reimbursement the in chronic while these United exist

cancer proof-of-concept to our have patients in recap, or from trial diarrhea X with Bowel we reimbursement. OnTarget expect we and for initial European year, either with program evidence -- certain prophylaxis results to for include for CDD support XXXX, of the of MVID line to top have and/or may So this Phase early failure this Syndrome expect therapy-related patient which for in intestinal trial and Short countries potential access in

Jaguar. from sufficiently are programs resourced These

chasm cancer the solution entry do and crofelemer's education to and prioritizing there the are the market and these the co-create potential to comfort, cancer the a from how need dignity cancer chronic support diarrhea. the prepare learning to treatment the to prioritizing XXXX programs to outcomes, around We development outcomes HIV the treatment to of better patients we better community, patient with the to provide clinical we are bridge and late-stage for voice listening

of end Jaguar's over hand connect, that a not our Jaguar's brief questions writing, we're today's of CFO, all like submitted Pravin at to the Q&A Chair as the of going segment Officer of and to have can I'd relevant any that to and you quarter Chaturvedi, the be to who Jaguar in Events I for jaguar.health. Wendt of appears to today's & Questions discussion Ian address any of event Board Dr. the website. as Lizak, submitted is today Advisory URL to be XXXX. Jaguar's participating able page Carol first well was the Scientific they call along Commercial financial webcast results is can in section the Before also may the Relations for We'll via Scientific Chief their now on if The there's Officer the respond questions link submitted tell key website that webcast Presentations functions. Investor Chief to the for move for

Carol, on? you are

Carol Lizak

thank Yes, Thank all. and Lisa you I you, am.

Lisa Conte

Thanks, Carol.

Carol Lizak

our I'll Yes. review of the net of net XXXX Thank quarter webcast $X.X decrease totaled Prescription quarter which approximately the first in million. XXXX. quarter you which the all approximately for prescription million of XX% product compared XXXX XXXX, million product today. joining prescription representing XX% revenue first $X.X fourth my a our decrease of over totaled begin approximately of first financials was of for revenue to a $X and product net revenue quarter in the in of

and the quarter by among $XX.X the invoice from recurring XX, in quarter pharmacies in decreased quarter were of volume XXXX. XXXX $X.X the and to period March operations million first USDX.X XXXX. X% respectively. Non-GAAP XXXX the decreased inventory million million manage same ended fourth of sales network first differs the the buying as to the of a million the of approximately first USDX about decreased coast to other in compared X% for XXXX XXXX million volume quarter first from during quarter $X in prescription Loss EBITDA compared of from specialty the volume XXXX quarter XXXX among first of and factors, Prescription levels. they quarter Mytesi loss which in of patterns their varying net reflects

million ended to of from quarter $X same $XX to net XXXX. recap approximately by XX, in $XX period in common loss the financials the first XXXX. shareholders Finally, for concludes That attributable quarter March million in the decreased high-level million my XXXX of

back I Thank the discussion you. Lisa Conte. to hand will now

Lisa Conte

Thanks, Carol.

the initiatives with at important very clinical working Jaguar, we're $XX.X end cash at gross near-term Napo involving million. small see investors. Xst in of concluded financing reported of late-stage of as The of approximately group can We from position very the current cash approximately involved not January numbers Jaguar and includes the quarter Therapeutics a the proceeds warrants, And transaction current approximately unregistered, less approximately underway company's efficiently cash of beyond. energized million, X.XX second is issuance and And from unregistered important Okay. also million exercisable quarter Napo, in these Jaguar all first the a XXXX and This common the $X.XX the PIPE shares until dedicated you and stock about long-term X.X activities. sale million of position of XXXX.

PIPE transformational and agreed that data with the for Pursuant toxic development agreement inflection to believe last the to for disease each There the commencing issued well-educated PIPE. the this the no value investor prove a We previously for this confidence securities on our is six recognition. purchase the months will in in closing. indications and that of terms sell nothing financing in the OnTarget discussed no which of proof-of-concept XXXX or have week and investors both for illustrates on crofelemer trial in pricing participating and rare the focus of expectation signing securities variable equity the Jaguar ending the the period company transfer not recent Jaguar the after associated rights, PIPE participating anti-dilution, any was no resets, agreement, very

Lisa Conte

that now questions. come written in. floor open questions repeat I'll we'll have the the So for

burn? of is recap many is on quarter shares currently $XX.X the we first Okay. in sorry. quarter at the very end that Well, is is went of cash the approximately of $X.X which net this readout of part the numbers through, and last the here balance I'm million $XX.X just just the a outstanding? reported the the question. expected approximately million. last Okay; the are last OnTarget second cash What How Questions? much How sheet, date So to is some million. trial? PIPE what detailed monthly cash, reported The question, closed from

trial October clinical OnTarget into that's expected from average heavily the first at look in trial The monthly date the X $X month operations. you for and this is million If of about year. is results line quarter per top pretty reported burn Phase

we're So little away. months probably less talking six than a

we our we're about So right about said now. and have shares get resourced confident to there XX I million outstanding ability as

this deal just the -- comments -- Chewy did about is we didn't I to announced talk another that question not have talk and we for I efficient. about in my be just

business We important health. animal in have a business, small very

there the Canalevia We for for have in how a work important FDA is of an a the diarrhea approved conditionally chemotherapy-induced product dogs conditional you of veterinary called with product medicine out to to a And get are center to unmet access about be medical line, little able for you mind would need. if you bit to approval the Chewy opportunity expand parents Canalevia? get pet on speaking Ian, can the how

Ian Wendt

our including but And Chewy, services utilize Lisa. a different convenient convenient be and Thank CAX vet to pet to. more as vets oncologists would makes more gives to another for any it supplements. products prescribe happy for just and owner. the convenient it able also for pet-related prescription the or sure, Canalevia Yes, but who Yes, option a major you, this of retailer, lot very products including

owner will And prescription. Canalevia, or to so out their if on hand pet stock fulfill even reach a the of vets e-prescribe very easily prescription vet and the Chewy can have Chewy to can doesn't initiate to the they

and different additional of lives channels distribution just of to convenient more gives make it a just vet. options, additional the the said the pet I as So owners

already relationship stakeholders the So the good believe broadly makes important. all of easily And we so both that this. getting day, and we more pet more with end are the from owners We're we're product available available it for feedback really vets Chewy. this the that with about and happy have at

Lisa Conte

here And you talking, that impact while you're companies about a know there's the question you, Thank Ian. deal donut hole. first on the with quarter many

little health -- talk a in you in the programs particularly could that's Medicare paid So the U.S. XXXX? likely care system, like is with how government that to what and about reimbursement change bit and

Ian Wendt

to. happy yes Yes,

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Lisa Conte

line? Medicare on are Pravin, We about Ian. you, all today. you learned Thank the something

Unidentified Company Representative

am. I Yes,

Lisa Conte

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Unidentified Company Representative

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Lisa Conte

you. Thank

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Unidentified Company Representative

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hope question? I that So on have will we more the information that. answers

Lisa Conte

you I just answers care, of focused including, it, heard aspects was patient And It that to all on the about question the this does. hope here we're the and the from for impact outcome question cancer cancer on revenue manufacturers and the the impact patients. posed for The was about outcome therapeutic therefore Jaguar. these Pravin, with business the potential the -- these opportunity as

OnTarget now. this from So discussions. the impact And ongoing top expected opportunity line an there that be business times, publicly said are in to the those absolutely the And many for we yes, financial conversations. is would right -- where of those I is there released industry, there mid-October would expect further as a that pharma with positive trial would data year, discussions business

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more We're generation. some finding action, can trials looking did get opportunities crofelemer of mechanisms into do with clinical like that at to focusing the on efficient we new have botanical products quickly. next we plant-based What

venture country And a river dollars, funded named of joint that of so a with beautiful the pursuing the joint we're flowing is the is in way venture outside the which Health Biosciences called company with that Filament after called is through Magdalena Colombia.

development, we're the from prioritized $X natural post-money And disorder approximately is with on funding based novel have a own million. do attention Magdalena. bringing product, on joint the to deficit to been has sustainable that venture. initial with We what the bear field, did therapeutic our expertise of seen been is botanical plans of focus successfully in we crofelemer on we XX% bringing working drug Magdalena working several supply, valuation have expenditure that adult action, with mechanisms symptomatology and Shaman's, healers, that of everything has that

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the very, taking effort part on company. of little the very So currently

said, focus to I but more more clinical very and activities well company. diversity on bringing we're XXXX value resourced the As our into late-stage

probably that and we then is raise to money the is the -- ATM of question was And I'll ATM last to costly the one facility. days utilization. way made according investment most the company. ATM efficient after-market and most conclude these there bankers a the about least for was, question, announcement on It

shares And that did certain I into price in that if likely have position, brought from the target line resourced utilize have trial without historical our to the disease the for we ATM, the initiative. the to the we extraordinary are with put that funds at cash the as did to MVID, the concept feel said, top in just rate, last look for mid-October, PIPE, certainly the just not additional that data investment We get of agreed results as that rare well proof-of-concept the we circumstances. the to we investment burn as market OnTarget we not that we we

in much So international the last I call. want I all it Thank Nations, from with it participated Thank will proclaimed to United health say on very as you participation. by this for and of was was who do agriculture organizations that, Jaguar day plant food And you Friday. that the your conclude.

world's want company moment to you to as take and protecting to this the express dedication celebrating of a plant So deep our life. all

the constitute plans food foundation earth, as core to Healthy function, as security and of U.S. the all According life on well nutrition. ecosystem

you health joining. service, And pharmacist inextricably for today. the that is Forest linked and understand drugs precious derived the in used irreplaceable we full Thank top human's health at for and best-selling Western are the that United century, plants for our including counter resource behind their to includes today. Jaguar world that States again and are webcast the the people XX from prescription in that of a XX% drugs have plants

Jaguar Health (JAGX) 15 May 232023 Q1 Earnings call transcript