Jaguar Health (NASDAQ: JAGX) Stock Rockets On Payment News

Jaguar Health JAGX Stock News

Jaguar Health Inc (NASDAQ: JAGX) is making a run for the top this morning, and for good reason. The company announced that it will be receiving a large payment as a result of its Mytesi drug product. Here’s what’s going on:

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JAGX Stock Rockets On Coming Payment

In the press release, Jaguar Health and its subsidiary, Napo Pharmaceuticals, said that they jointly entered into a third amendment to the accounts receivable purchase agreement with Oasis Capital.

Under the agreement, Oasis has agreed to purchase additional accounts receivable of the Company related to the sales of its Mytesi drug product to Cardinal Health. In the release, JAGx said that the Fourth Tranche Accounts Receivable has a gross value of $2,329,662.72, which represents 24 days of customer billings.

Under the terms of the agreement, the company has agreed to pay Oasis a fee of 5.45% of the total Fourth Traunche Accounts Receivable. Moreover, Oasis will be paid a one-time $5,000 transaction fee.

In a statement, Lisa Conte, President and CEO at JAGX, had the following to offer:

We are happy to enter into this additional amendment with Oasis. Based on the success of the first three tranches of accounts receivable financing and the strength of our growing sales of Mytesi, we have been able to further our strategy of bringing in non-dilutive capital and striving to become a stable, cash flow positive commercial business.

This Is Big News

The news released by Jaguar Health this morning is overwhelmingly positive. Through the agreement, the company will gain access to more than $2 million in funding, which will help to keep the company afloat and allow it to excecute on its goals.

The news is also further validation for the value of the company’s Mytesi product and the revenue that it has the potential to drive ahead. All in all, JAGX is a stock to watch closely.

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