Jaguar Health Sees 5% Q4 Revenue Gain and $18M Mytesi Out-License
Jaguar Health's Q4 2025 net revenue rose 5% sequentially to $3.2 million but fell 8% year-over-year, while net loss widened by $15.1 million. The company secured an $18 million upfront out-license deal for Mytesi and is advancing Crofelemer in late-stage rare disease trials toward a 2027 NDA.
1. Q4 Financial Results
Jaguar Health reported net revenue of $3.2 million for Q4 2025, a 5% increase from the prior quarter but an 8% decrease year-over-year. Operating loss grew by $15.1 million compared to 2024, driving a wider net loss for the period.
2. Mytesi Out-License Agreement
The company secured an out-license deal with Future Pak for its Crofelemer-based diarrhea treatment Mytesi, receiving $18 million upfront of which $16 million has been collected, with additional milestone payments up to $20 million. This nondilutive funding supports pipeline advancement.
3. Rare Disease Development Strategy
Management is focusing Crofelemer development on rare intestinal failure indications such as Microvillus Inclusion Disease and Short Bowel Syndrome, reporting trial data showing up to a 37% reduction in parenteral support. The company aims to file a new drug application by 2027.
4. Market Opportunity and Outlook
Jaguar Health projects the Short Bowel Syndrome market at $8 billion and anticipates nondilutive funding from the Mytesi deal to support late-stage clinical programs. Regulatory approval timing and execution remain key challenges for the upcoming NDA submissions.