Jaguar Health, Inc. (NASDAQ:JAGX) shares dipped -22.63% to $0.82 in the premarket session after the report that the Firm has reached an agreement with a secured lender a non-dilutive royalty funding deal.In the agreement, Jaguar will sell a royalty interest to the Lender for an aggregate purchase price of $6 million, entitling the Lender to obtain 2.0x the royalty purchase price of Mytesi and Lechlemer’s potential royalties and others upwards of $6 million.
Jaguar plans to use the proceeds to finance the Company’s research pipeline-related regulatory operations, including ongoing funding patient registration for the cornerstone phase 3 trial of crofelemer for diarrhea prophylaxis in adult cancer patients undergoing targeted therapy launched last October by the wholly-owned subsidiary of the Company, Napo Pharmaceuticals, Inc. (Napo). This $6 million royalty funding deal follows an earlier $6 million royalty transaction with a Lender partner concluded in October 2020.
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Moreover, we reported yesterday that Jaguar Health (JAGX) announced the results of the special meeting of Jaguar stockholders held on December 9, 2020.