Jaguar Health (NASDAQ:JAGX) is a big mover in the market right now. Today’s upward move of 25% is a nice reversal of momentum, given the fact that JAGX stock has given up approximately 90% of its value over the past year.
As a commercial-stage pharmaceuticals company, Jaguar Health has a number of products that have garnered attention of late. Among the company’s key drugs is Mytesi, which focuses on the noninfectious diarrhea market “in adults with HIV/AIDS on antiretroviral therapy.”
That said, Jaguar Health has a rather impressive pipeline of drugs investors are watching as well. However, with little in the way of meaningful announcements on many of these drugs, investors appear to have lost interest in Jaguar Health relative to other options in the pharma space.
Today, though, investors have something to hang their hats on. Let’s dive into the recent update with JAGX and why this stock is taking off.
JAGX Stock Surges on Distribution Agreement for Key Drug
Today, Jaguar Health announced that it has entered into a distribution and license agreement with Quadri Pharmaceuticals. This agreement will cover the “promotional, commercialization, and distribution rights” for Jaguar Health’s crofelemer drug, Mytesi.
This drug currently has approval in the U.S. for HIV-related diarrhea. Approval for cancer-related diarrhea is currently waiting on the results of a key Phase 3 trial. Accordingly, there’s a lot to like about with this drug in the United States.
That said, this agreement focuses on other key global markets as well. Some of the targeted markets include Bahrain, Saudi Arabia, the United Arab Emirates (UAE) and Oman, among others. Currently, investors appear to like the global nature of the deal and growth the partnership could provide.
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On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.