Jaguar Health (NASDAQ:JAGX) stock is rocketing higher on Tuesday after the pharmaceutical company announced a new license for a chemo mouth treatment.
Jaguar Health is looking to treat chemo mouth, a side effect of chemotherapy, with Gelclair. This treatment already has approval from the U.S. Food and Drug Administration (FDA).
Jaguar Health is licensing Gelclair from U.K.-based Venture Life Group. The product is a gel that makes it easier for patients undergoing chemotherapy to eat, drink, swallow, speak and sleep.
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.”
What This Means for JAGX Stock
This new agreement brings with it a new source of revenue of Jaguar Health. The best part about this is the lack of money needed to spent on development and FDA approval.
That has investors excited and brings with it heavy trading of JAGX stock this morning. This has over 436 million shares traded as of this writing. For comparison, the company’s daily average trading volume is about 46 million shares.
JAGX stock is up 44.3% as of Tuesday morning.
There are more stock market stories ready to go below!
We offer all of the latest stock market news worth reading about on Tuesday! That includes everything happening with shares of Palisade Bio (NASDAQ:PALI), WiSA Technologies (NASDAQ:WISA) and BuzzFeed (NASDAQ:BZFD) stock today. You can catch up on this news at the following links!
More Tuesday Stock Market News
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On the date of publication, William White 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.
