Progress on Rx Product Pipeline
SAN FRANCISCO--(BUSINESS WIRE)--Feb. 9, 2016--
Jaguar Animal Health, Inc. (NASDAQ:JAGX), an animal health company
focused on developing and commercializing first-in-class
gastrointestinal products for companion and production animals, and
horses, today announced the closing of its previously announced
underwritten public offering of 2,000,000 shares of its common stock at
an offering price to the public of $2.50 per share. Gross proceeds
raised by Jaguar Animal Health, Inc. in this offering were $5.0 million
before deducting underwriting discounts and commissions and other
estimated offering expenses. Jaguar Animal Health, Inc. has granted the
underwriters a 45-day option to purchase up to 300,000 additional shares
of common stock to cover over-allotments, if any.
The net proceeds of approximately $4.6 million will primarily be used
for working capital and general corporate purposes. The Company believes
that the net proceeds from this offering, together with its existing
cash and cash equivalents, will be sufficient to fund Company operations
through the anticipated commercial launch of Canalevia for
chemotherapy-induced diarrhea in dogs.
“We are extremely excited about this offering because it provides Jaguar
with the funds to advance our first prescription drug product candidate,
Canalevia™, for dogs, which complements the commercial non-prescription
products already in our portfolio,” commented Lisa Conte, Jaguar’s
president and CEO. “These funds will also support our ongoing
initiatives to develop products for other unmet animal health needs,
especially in the equine market. We are currently launching Neonorm
Foal™, a novel anti-diarrheal product for foals, and on January 28th we
announced positive topline data for SB-300, the next product candidate
in both our equine and prescription product pipelines, for treatment of
gastrointestinal ulcers in horses.”
Aegis Capital Corp. acted as sole book-running manager for the offering.
A registration statement relating to these securities was declared
effective by the Securities and Exchange Commission on February 3, 2016.
This offering was made only by means of a prospectus. Copies of the
prospectus relating to this offering may be obtained by contacting Aegis
Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor,
New York, NY 10019, via telephone: 212-813-1010, or via e-mail: firstname.lastname@example.org.
Investors may also obtain these documents at no cost by visiting the
SEC's website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
About Jaguar Animal Health, Inc.
Jaguar Animal Health, Inc. is an animal health company focused on
developing and commercializing first-in-class gastrointestinal products
for companion and production animals, and horses. Canalevia™ is Jaguar’s
lead prescription drug product candidate, intended for the treatment of
various forms of diarrhea in dogs. SB-300 is Jaguar’s prescription drug
product candidate for the treatment of gastrointestinal ulcers in
horses. Canalevia™ and SB-300 are species-specific formulations of
crofelemer, an active pharmaceutical ingredient isolated and purified
from the Croton lechleri tree, which is sustainably harvested.
Neonorm™ Calf and Neonorm™ Foal are the Company’s lead non-drug
products. Neonorm™ is a standardized botanical extract derived from the Croton
lechleri tree. Canalevia™ and Neonorm™ are distinct products that
act at the same last step in a physiological pathway generally present
in mammals. Jaguar has nine active investigational new animal drug
applications, or INADs, filed with the FDA and intends to develop
species-specific formulations of Neonorm™ in six additional target
species, and formulations of Canalevia™ for cats, horses and dogs.
Certain statements in this press release constitute “forward-looking
statements.” These include statements regarding the anticipated launch
of Canalevia™, Jaguar’s first prescription drug product candidate, the
Company’s ongoing initiatives to develop products for other unmet animal
health needs, Jaguar’s intention to develop species-specific
formulations of Neonorm™ in additional target species, and the Company’s
plan to develop formulations of Canalevia™ for cats and horses. In some
cases, you can identify forward-looking statements by terms such as
“may,” “will,” “should,” “expect,” “plan,” “aim,” “anticipate,” “could,”
“intend,” “target,” “project,” “contemplate,” “believe,” “estimate,”
“predict,” “potential” or “continue” or the negative of these terms or
other similar expressions. The forward-looking statements in this
release are only predictions. Jaguar has based these forward-looking
statements largely on its current expectations and projections about
future events. These forward-looking statements speak only as of the
date of this release and are subject to a number of risks, uncertainties
and assumptions, some of which cannot be predicted or quantified and
some of which are beyond Jaguar’s control. Except as required by
applicable law, Jaguar does not plan to publicly update or revise any
forward-looking statements contained herein, whether as a result of any
new information, future events, changed circumstances or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160209006590/en/
Source: Jaguar Animal Health, Inc.
KCSA Strategic Communications
Garth Russell, 212-896-1250