Jaguar Health (NASDAQ:JAGX) stock is taking a beating on Tuesday after the commercial-stage pharmaceuticals company reported results from a Phase 3 clinical trial.
This trial covers the use of crofelemer as a treatment for prophylaxis of diarrhea in adult cancer patients with solid tumors receiving targeted therapy. Crofelemer is already approved by the U.S. Food and Drug Administration (FDA) as a symptomatic relief of diarrhea in adult HIV/AIDS patients getting antiretroviral therapy.
The bad news for investors in JAGX stock shareholders is this clinical trial failing to meet its primary endpoint. The trial covered 10 different tumor types but crofelemer was only effective in patients with breast and respiratory cancers.
Pablo Okhuysen, Principal Investigator of the OnTarget clinical trial, said the following about the results:
“Clinical meaningfulness of these results is based on the information provided by solid tumor patients from a survey that informed us about the appropriate clinical study design and clinical endpoints, that are important to the patients in this prophylactic trial. We will continue to evaluate important OnTarget findings, with further analyses.”
What This Means for JAGX Stock
The failed clinical trial of crofelemer is a blow to JAGX stock today. This has traders selling shares, triggering heavy trading of the stock. That has more than 12 million units on the move as of this writing. This is already above its daily average trading volume of about 800,000 shares.
JAGX stock is down 55.2% as of Tuesday afternoon.
Investors will want to keep reading for more of the most recent stock market news!
We have all of the hottest market happenings investors need to know about on Tuesday! Among that is what has shares of AMC Entertainment (NYSE:AMC), Adial Pharmaceuticals (NASDAQ:ADIL) and CrowdStrike (NASDAQ:CRWD) in the news today. All of that info is ready to go at the links below!
More Tuesday Stock Market News
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- CrowdStrike Outage Update: Everything You Need to Know as Shutdowns Persist
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On the date of publication, William White did not have (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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
