Jaguar Health Reports $10.6 Million Net Loss in Q2 2025, Revenue Increases to $2.98 Million

Jaguar Health, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $10.6 million, compared to a net loss of $9.6 million in the same period last year. For the six months ended June 30, 2025, the company recorded a net loss of $21.2 million, an increase from $19.0 million in the prior year. Total revenue for the second quarter was $2.98 million, up from $2.72 million in the same quarter of 2024, driven primarily by increased sales of its human drug Mytesi and animal health products, including Canalevia-CA1.

The company’s product revenue for the first half of 2025 was $5.1 million, a slight increase of 1.6% from $5.03 million in the same period of 2024. License revenue also saw a significant increase, rising to $86,000 from $43,000, attributed to a new licensing agreement with Gen Ilac Ve Saglik Urunleri Sanayi Ve Ticaret, A.S. Operating expenses for the first half of 2025 totaled $22.6 million, a 10.4% increase from $20.5 million in the previous year, with notable increases in sales and marketing expenses, which rose by 67.2% to $5.0 million.

Jaguar Health's balance sheet as of June 30, 2025, showed total assets of $48.3 million, down from $53.4 million at the end of 2024. The company’s cash reserves decreased significantly to $2.2 million from $8.0 million at the end of the previous year. Current liabilities increased to $29.2 million, up from $19.7 million, primarily due to higher notes payable and accrued liabilities. The accumulated deficit reached $367.4 million, reflecting the ongoing challenges in achieving profitability.

Strategically, Jaguar Health has been active in expanding its product offerings and market presence. The company launched Gelclair, an oral mucositis prescription product, in October 2024, and is pursuing additional clinical trials for crofelemer, particularly for indications related to cancer therapy-related diarrhea. The company also formed a joint venture, Magdalena Biosciences, to develop plant-based medicines for mental health conditions. Despite these initiatives, Jaguar Health continues to face liquidity challenges, with management indicating that current cash balances may not be sufficient to fund operations for the next year.

Looking ahead, Jaguar Health plans to continue its focus on product development and commercialization while seeking additional financing to support its operations. The company is exploring various strategies, including equity and debt financing, to enhance its liquidity position. The management remains optimistic about the potential of its product pipeline, particularly crofelemer, to address significant unmet medical needs in both human and animal health markets.