Jaguar Health (NASDAQ: JAGX) stock soared over 50% in intraday trading after the company inked an exclusive 5-year in-license agreement with Venture Life Group PLC.
Jaguar Health (JAGX) has announced a significant development in its expansion into cancer-supportive care with the signing of a five-year exclusive in-license agreement with Venture Life Group PLC for Gelclair, an FDA-approved treatment for oral mucositis, in the United States. The company announced plans to commercially launch Gelclair in the third quarter of 2024.
Jaguar Health President and CEO Lisa Conte said the following about the agreement:
“Gelclair is an FDA-approved prescription product and can be commercialized without any clinical development costs for Jaguar. We are expanding our footprint beyond HIV-related supportive care to include cancer-related supportive care, and the in-license of Gelclair is a first building block while we await the forthcoming results from our pivotal Phase 3 OnTarget trial of Crofelemer.”
Oral mucositis, often referred to as “chemo mouth,” is a prevalent and distressing side effect of cancer treatments like chemotherapy and radiotherapy.
Gelclair, a protective gel with mechanical action, manages pain and provides relief by adhering to the mucosal surface of the mouth and soothing oral lesions caused by various factors, including oral mucositis/stomatitis. Unlike other products for oral mucositis, Gelclair does not contain numbing agents and does not cause stinging sensations in the mouth.
Jaguar Health (NASDAQ: JAGX) Stock Reaction
At the time of publication, JAGX stock has surged 50.08% to $0.18 compared to the previous trading session. The traders have exchanged hands with 616,383,616 (616.38 million) shares versus the average daily trading volume of 55.73 million.
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