Jaguar Health (NASDAQ:JAGX) stock is heading higher on Thursday following the release of the biopharma company’s earnings for the full year of 2020.
Let’s take a look at that most recent earnings report and why JAGX stock is on the rise today.
- Revenue reported by the company for the full year of 2020 comes in at $9.39 million.
- That’s just above Wall Street’s revenue estimate of $9.38 million for the year.
- It’s also a 63% increase over the company’s revenue of $5.78 million in 2019.
- This is despite Mytesi unit sales volume being down 7% in 2020 compared to 2019.
- Jaguar Health believes that the novel coronavirus pandemic was behind this decline.
- It says that patients with HIV canceled meetings with physicians to get prescriptions for the drug due to the pandemic and lockdown.
- Even so, gross sales of Mytesi came in at $20.43 million.
- That’s a 148% increase compared to gross sales of $8.25 million from the prior year.
- Next up is JAGX’s net loss coming in at $33.81 million.
- That’s a 14% improvement over the company’s net loss of $38.54 million in the previous year.
- To go along with that, Jaguar Health reported losses per share of $1 during the year.
- That’s actually worse than analysts’ losses per share estimate of 85 cents for the year.
- However, it still represents an 89% improvement over the company’s losses per share of $9.01 in 2019.
- Stock movement for JAGX today has roughly 7.6 million shares changing hands as of this writing.
- To put this in perspective, the company’s daily average trading volume is 37 million shares.
JAGX stock was up 10.6% as of Thursday morning.
Jaguar Health is among several companies releasing earnings reports in the last few days.
That makes sense as we enter earnings season with companies reporting results for the end of 2020 and the start of 2021. Other companies with recent reports to note are Adamis Pharmaceuticals Corp (NASDAQ:ADMP), Activision Blizzard (NASDAQ:ATVI), and GameStop (NYSE:GME). Investors can learn more about these companies at the links below.
More Earnings News
- Wait for Q4 Earnings Before Making Any Move on Adamis Pharmaceuticals Stock
- Strong Revenues Offset Staff-Cutting Concerns at Activision Blizzard
- Is GameStop Stock a Buy After Earnings?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.