Jaguar Health Reports $10.6 Million Net Loss in Q1 2025, Revenue Declines 5.8%

Jaguar Health, Inc. reported a net loss of $10.6 million for the first quarter of 2025, an increase from a net loss of $9.4 million in the same period of 2024. The company's total revenue for the quarter was $2.2 million, down 5.8% from $2.4 million year-over-year. Product revenue, primarily from the sale of its human drug Mytesi, decreased by 7.7% to $2.2 million, while license revenue increased to $43,000, reflecting a new agreement with Gen Ilac Ve Saglik Urunleri Sanayi Ve Ticaret, A.S. The decline in product revenue was attributed to a decrease in sales volume, particularly for Mytesi and Canalevia.

Operating expenses rose to $11.6 million, a 10.1% increase compared to the previous year, driven by higher sales and marketing costs, which surged by 72.8% to $2.5 million. Research and development expenses decreased by 13.5% to $3.7 million, primarily due to reduced clinical trial costs following the conclusion of the Phase 3 OnTarget trial. General and administrative expenses also increased by 11.8% to $4.9 million, largely due to higher legal and compliance costs.

As of March 31, 2025, Jaguar Health had total assets of $51.5 million, a decrease from $53.4 million at the end of 2024. The company’s cash reserves fell to $5.7 million from $8.0 million, while total liabilities increased to $48.1 million, up from $44.4 million. The increase in liabilities was primarily due to a rise in notes payable and accounts payable. The company reported an accumulated deficit of $356.9 million, reflecting ongoing financial challenges.

Strategically, Jaguar Health has been expanding its product offerings, including the recent launch of Gelclair, an oral mucositis prescription product, which is expected to enhance its market presence in cancer-related supportive care. The company is also pursuing additional clinical trials for its lead product, crofelemer, targeting rare diseases such as short bowel syndrome and microvillus inclusion disease. Looking ahead, Jaguar Health anticipates continued investment in product development and commercialization efforts, although it acknowledges the need for additional financing to support its operations and growth initiatives.