Jaguar Health Inc. (NASDAQ:JAGX) Stock Gains Momentum: How to Trade Now?

Jaguar Health Inc. (NASDAQ:JAGX) jumped 7.5% after announcing that Napo EU S.p.A., the Italian subsidiary of its wholly-owned subsidiary Napo Pharmaceuticals Inc. Dragon SPAC S.p.A. had closed the financing of Dragon SPAC for around €8.83 in gross proceeds.

This represents the $10 million previously announced Jaguar funding into Dragon SPAC through direct offering generated funds for the benefits of its wholly-owned Italian subsidiary.  The company will use net proceeds from the private offering to fund Dragon SPAC’s anticipated business merger with Napo EU and operations of the merged company. The Merger is likely to be effective within the next 80 days.

NAPO EU was established to expand plant-based drugs lechlemer and crofelemer access in Europe except in Russia to address the unmet gastrointestinal need. Jaguar will offer an exclusive license through Napo Pharmaceuticals to Napo EU to study, develop, and commercialize Crofelemer in the EU for various indications. So in the coming days, JAGX is a stock to watch.

Market Reaction:

On Tuesday, JAGX stock gained 7.60% at $1.56 with more than 6.41 million shares, compared to its average volume of 11.33 million shares. The stock has moved within a range of $1.4300 – 1.5717 after opening the trade at $1.47. Over the past 52-week, the stock has been trading within a range of $0.1850 – 4.4700.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.