What's Going On With Jaguar Health?
Jaguar Health (JAGX) stock fell amid panic selling after the company announced a 1-for-3 reverse stock split, which was approved by majority of common stock shareholders in December 2020. Shares of the company were trading lower -18.96% to $0.94 a share on Tuesday.
What Does This Mean For Jaguar Health?
All shares of Jaguar common stock will start trading on a split-adjusted basis on September 8, 2021. Stockholders who would be entitled to receive a fractional share in connection with the reverse stock split will instead receive a cash payment.
"We are grateful to our shareholders for voting to approve the proposal for a reverse stock split, and - in support of our strategy of focusing on long-term investors - we have decided to implement a reverse stock split at this time to get Jaguar's quoted stock price more in line with typical institutional investing requirements," said Lisa Conte, Jaguar's president and CEO.
Jaguar Health, Inc., a commercial stage pharmaceuticals company, focuses on developing prescription medicines for people and animals with GI distress, specifically chronic, debilitating diarrhea.
JAGX has a Fundamental Rank of 86. Find out what this means to you and get the rest of the rankings on JAGX!
Jaguar Health Inc is a commercial-stage pharmaceuticals company focused on developing novel, plant-based, non-opioid, and sustainably derived prescription medicines for people and animals with GI distress, specifically chronic, debilitating diarrhea. Its product Mytesi is a novel, first-in-class anti-secretory agent which has a basic normalizing effect locally on the gut, and this mechanism of action has the potential to benefit multiple disorders.