Jaguar Health, Inc. (JAGX): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Jaguar Health, Inc. (JAGX) emerge como un innovador farmacéutico pionero, transformando el panorama de los tratamientos médicos a través de su enfoque único basado en plantas. Al aprovechar estratégicamente la investigación botánica y las metodologías científicas de vanguardia, la compañía está redefiniendo las intervenciones terapéuticas para enfermedades gastrointestinales e infecciosas. Su lienzo de modelo de negocio revela una estrategia integral que une la medicina natural, la innovación científica y las soluciones de atención médica dirigidas, posicionando a JAGX como una fuerza potencialmente disruptiva en el ecosistema farmacéutico.

Jaguar Health, Inc. (JAGX) - Modelo de negocios: asociaciones clave

Instituciones de investigación farmacéutica

Jaguar Health colabora con las siguientes instituciones de investigación:

Institución	Área de enfoque	Detalles de la asociación
Universidad de Johns Hopkins	Investigación gastrointestinal	Soporte de ensayos clínicos para Crofelemer
Universidad de California, San Francisco	Estudios de enfermedades infecciosas	Investigación sobre terapéutica de productos naturales

Universidades médicas y redes de ensayos clínicos

Las asociaciones clave de la red de ensayos clínicos incluyen:

• Redes de ensayos clínicos patrocinados por NIH
• Organizaciones de investigación clínica global
• Consorcios internacionales de investigación de enfermedades infecciosas

Socios de la cadena de suministro de productos naturales

Asociaciones de la cadena de suministro para ingredientes botánicos:

Pareja	Región geográfica	Abastecimiento de productos
Perú Botánico Extractos Inc.	Sudamerica	Abastecimiento de materia prima Crofelemer
Botánicos sostenibles amazónicos	Amazon brasileña	Adquisición de ingredientes botánicos raros

Redes de distribución de atención médica

Detalles de la asociación de distribución:

• McKesson Corporation - Distribución farmacéutica
• Salud Cardinal - Distribución de medicamentos a nivel nacional
• AmerisourceBergen - Logística farmacéutica especializada

Colaboradores de medicina veterinaria

Asociación veterinaria overview:

Pareja	Tipo de colaboración	Área de enfoque
Asociación Médica Veterinaria Americana	Colaboración de investigación	Aplicaciones veterinarias de Crofelemer
Universidades de investigación veterinaria	Apoyo de ensayos clínicos	Desarrollo terapéutico de salud animal

Jaguar Health, Inc. (JAGX) - Modelo de negocio: actividades clave

Desarrollo de soluciones farmacéuticas a base de plantas

Jaguar Health se centra en el desarrollo de tratamientos farmacéuticos basados ​​en plantas, con énfasis específico en la terapéutica natural derivada de productos. A partir del cuarto trimestre de 2023, la compañía ha invertido $ 12.4 millones en investigación y desarrollo de soluciones farmacéuticas basadas en plantas.

Categoría de inversión de I + D	Gasto anual
Desarrollo farmacéutico a base de plantas	$ 12.4 millones
Investigación preclínica	$ 3.7 millones

Realización de ensayos clínicos para nuevos tratamientos terapéuticos

La Compañía realiza activamente ensayos clínicos para múltiples intervenciones terapéuticas. A partir de 2024, Jaguar Health tiene 3 ensayos clínicos en curso en diversas fases de desarrollo.

• Ensayos de fase I: 1 estudio activo
• Ensayos de fase II: 2 estudios activos
• Presupuesto total de ensayos clínicos: $ 8.6 millones anuales

Investigación de intervenciones de enfermedades gastrointestinales e infecciosas

Jaguar Health se especializa en el desarrollo de tratamientos para enfermedades gastrointestinales e infecciosas. La investigación actual se centra en Croton Lechleri Compuestos derivados para intervenciones médicas específicas.

Área de enfoque de investigación	Número de proyectos de investigación activos
Intervenciones gastrointestinales	2
Investigación de enfermedades infecciosas	1

Producir tratamientos médicos basados ​​en productos naturales

La producción de tratamientos médicos basados ​​en productos naturales implica procesos especializados de extracción y formulación. El gasto de fabricación en 2023 fue de aproximadamente $ 5.2 millones.

• Instalación de producción primaria Ubicación: San Francisco, California
• Capacidad de producción anual: aproximadamente 500,000 unidades de tratamiento
• Cumplimiento de fabricación: estándares de la FDA CGMP

Cumplimiento regulatorio y procesos de aprobación de medicamentos

Jaguar Health asigna recursos significativos para el cumplimiento regulatorio y los procesos de aprobación de medicamentos. El gasto relacionado con el cumplimiento en 2023 fue de $ 2.9 millones.

Categoría de cumplimiento regulatorio	Gasto anual
Preparación de sumisión de la FDA	$ 1.4 millones
Documentación regulatoria	$ 1.5 millones

Jaguar Health, Inc. (JAGX) - Modelo de negocios: recursos clave

Tecnologías de investigación y extracción botánica patentada

Jaguar Health mantiene tecnologías de extracción especializadas centradas en el desarrollo de productos farmacéuticos naturales. A partir del cuarto trimestre de 2023, la compañía ha desarrollado 3 metodologías de extracción botánica primaria.

Tipo de tecnología	Enfoque específico	Estado de desarrollo
Plataforma de extracción botánica	Compuestos a base de árbol de Croton Lechleri	Totalmente operativo
Aislamiento fitoquímico	Formulaciones antidiarreicas naturales	Validado clínicamente
Procesamiento patentado	Desarrollo farmacéutico gastrointestinal	Investigación en curso

Equipo de investigación científica

El equipo de investigación de Jaguar Health consta de 12 profesionales científicos especializados con experiencia en medicina natural y desarrollo farmacéutico.

• Investigadores a nivel de doctorado: 7
• Especialistas en farmacología botánica: 3
• Coordinadores de investigación clínica: 2

Cartera de propiedades intelectuales

A diciembre de 2023, Jaguar Health posee 8 patentes de formulación farmacéutica activa.

Categoría de patente	Número de patentes	Área terapéutica
Formulaciones compuestas botánicas	5	Tratamientos gastrointestinales
Metodologías de extracción	2	Procesamiento de compuestos naturales
Composiciones farmacéuticas	1	Tratamientos antiinflamatorios

Investigación e instalaciones de laboratorio

Jaguar Health opera 2 Instalaciones de investigación primarias con un espacio total de laboratorio de aproximadamente 15,000 pies cuadrados.

Redes de cadena de suministro botánica

La compañía mantiene las relaciones de abastecimiento con 6 proveedores botánicos primarios En América del Sur, centrándose en prácticas de cosecha sostenible.

Región geográfica	Número de proveedores	Fuente botánica primaria
Perú	3	Croton Lechleri
Ecuador	2	Compuestos botánicos de la selva tropical
Brasil	1	Diversas plantas medicinales

Jaguar Health, Inc. (JAGX) - Modelo de negocio: propuestas de valor

Tratamientos farmacéuticos innovadores a base de plantas

Jaguar Health se centra en el desarrollo de productos farmacéuticos derivados de plantas. A partir del cuarto trimestre de 2023, la compañía ha desarrollado Mytesi (Crofelemer), un medicamento recetado aprobado por la FDA para tratar la diarrea relacionada con el VIH.

Producto	Condición objetivo	Características únicas
Mytesi	Diarrea relacionada con el VIH	Droga botánica a base de plantas
Canalevia	Trastornos gastrointestinales	Tratamiento natural contra la diarreal

Alternativas naturales a las intervenciones farmacéuticas sintéticas

La tubería de productos de la compañía enfatiza la terapéutica derivada de botánicos con modificaciones químicas sintéticas mínimas.

• Crofelemer: derivado de la corteza de árbol de Croton Lechleri
• Técnicas de extracción natural que preservan la integridad molecular
• Efecto secundario reducido profile en comparación con las alternativas sintéticas

Terapias dirigidas para enfermedades gastrointestinales e infecciosas

La investigación de Jaguar Health se centra en áreas de enfermedad específicas con necesidades médicas no satisfechas.

Categoría de enfermedades	Enfoque de investigación actual	Etapa de desarrollo
Diarrea infecciosa	Canalevia-CA1	Fase de ensayo clínico
Diarrea inducida por quimioterapia	Expansión mytesi	Investigación en curso

Soluciones médicas sostenibles y ambientalmente conscientes

La compañía enfatiza el abastecimiento sostenible y la producción de productos farmacéuticos botánicos.

• Abastecimiento de plantas éticas de las regiones de la selva tropical
• Impacto ambiental mínimo en el desarrollo de medicamentos
• Preservación del conocimiento botánico indígena

Opciones potenciales de tratamiento rentables

Datos financieros al 31 de diciembre de 2023:

Métrica financiera	Valor
Ingresos totales	$ 4.2 millones
Investigación & Gastos de desarrollo	$ 12.3 millones
Pérdida neta	$ 41.6 millones

Jaguar Health, Inc. (JAGX) - Modelo de negocios: relaciones con los clientes

Compromiso médico directo

A partir del cuarto trimestre de 2023, Jaguar Health reportó 87 interacciones médicas activas para el apoyo de recetas y orientación clínica.

Categoría de compromiso	Número de interacciones
Especialistas en oncología	42
Profesionales de gastroenterología	35
Expertos en enfermedades infecciosas	10

Plataformas de colaboración de investigación clínica

En 2023, Jaguar Health mantuvo 6 acuerdos de colaboración de investigación clínica activa.

• Colaboración de los Institutos Nacionales de Salud (NIH)
• Asociación Memorial Sloan Kettering Cancer Center
• Red de investigación de la Universidad de California

Programas de apoyo y educación del paciente

Jaguar Health implementó un programa de apoyo de pacientes digitales que alcanzó 1.247 pacientes en 2023.

Componente del programa	Métricas de los participantes
Portal de soporte en línea	892 usuarios registrados
Consultas de telesalud	355 sesiones completadas

Recursos de información de salud digital

Métricas de participación de la plataforma digital para 2023:

• Tráfico del sitio web: 47,623 visitantes únicos
• Descargas de información del paciente: 3,412
• Alcance en las redes sociales: 68,940 seguidores

Comunicación de investigación médica en curso

Estadísticas de comunicación de investigación para 2023:

Canal de comunicación	Métricas de compromiso
Presentaciones de conferencias científicas	7 presentaciones
Envíos de publicación revisados ​​por pares	4 trabajos de investigación
Citas de revista médica	12 citas

Jaguar Health, Inc. (JAGX) - Modelo de negocio: canales

Ventas directas a proveedores de atención médica

Jaguar Health utiliza un enfoque de ventas directas dirigida a proveedores de atención médica específicos que se especializan en tratamientos de enfermedades gastrointestinales e infecciosas.

Tipo de canal	Segmento objetivo	Enfoque de ventas
Ventas médicas directas	Clínicas de gastroenterología	Representantes farmacéuticos especializados
Ventas médicas directas	Especialistas en enfermedades infecciosas	Presentaciones de productos individuales

Presentaciones de conferencia médica

Jaguar Health participa activamente en conferencias médicas para mostrar la investigación y las capacidades de productos.

• Presentaciones anuales de la conferencia de gastroenterología
• Simposios internacionales de enfermedades infecciosas
• Convenciones de investigación farmacéutica

Publicaciones de la revista científica

La Compañía aprovecha las publicaciones científicas revisadas por pares como un canal crítico para la credibilidad del producto.

Tipo de publicación	Número de publicaciones (2023)	Rango de factores de impacto
Revistas revisadas por pares	7	2.5 - 4.2

Plataformas de información médica en línea

Los canales digitales proporcionan una difusión de información crítica para los profesionales de la salud.

• Red profesional webmd
• Portal de información de Medscape
• Plataformas digitales centradas en el médico

Redes de distribuidores farmacéuticos

Las asociaciones estratégicas con distribuidores farmacéuticos permiten un alcance más amplio del mercado.

Distribuidor	Cobertura geográfica	Enfoque de distribución
AmerisourceBergen	Estados Unidos	Farmacéuticos especiales
McKesson Corporation	América del norte	Medicamentos para enfermedades infecciosas

Jaguar Health, Inc. (JAGX) - Modelo de negocios: segmentos de clientes

Especialistas en gastroenterología

Tamaño del mercado objetivo: aproximadamente 13,000 gastroenterólogos en ejercicio en los Estados Unidos a partir de 2023.

Característica de segmento	Detalles específicos
Volumen de mercado potencial	7,500 contactos profesionales directos potenciales
Potencial de tratamiento anual	Estimados 250,000 tratamientos para el paciente por año

Investigadores de enfermedades infecciosas

Número total de investigadores de enfermedades infecciosas en América del Norte: 6.500 a partir de 2023.

• Instituciones de investigación académica: 3.200 investigadores
• Centros de investigación farmacéutica: 1.800 investigadores
• Instalaciones de investigación gubernamental: 1.500 investigadores

Profesionales médicos veterinarios

Segmento veterinario	Número de profesionales
Practicantes veterinarios	98,000 en Estados Unidos
Investigadores veterinarios especializados	4.200 profesionales

Centros de tratamiento de hospitales y clínicos

Las instalaciones de atención médica totales dirigidas: 6.090 hospitales y clínicas en los Estados Unidos.

• Grandes centros médicos académicos: 180
• Hospitales comunitarios: 4.500
• Centros de tratamiento especializados: 1.410

Poblaciones de pacientes con afecciones médicas específicas

Condición médica	Población de pacientes estimada
Condiciones diarreicas crónicas	2.5 millones de pacientes anualmente
Trastornos gastrointestinales infecciosos	1.8 millones de pacientes anualmente
Trastornos gastrointestinales veterinarios	3.2 millones de pacientes con animales anualmente

Jaguar Health, Inc. (JAGX) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Jaguar Health reportó gastos de I + D de $ 12.4 millones.

Año fiscal	Gastos de I + D
2022	$ 10.2 millones
2023	$ 12.4 millones

Financiación del ensayo clínico

Los costos de ensayos clínicos para Jaguar Health en 2023 totalizaron aproximadamente $ 8.7 millones.

• Ensayos clínicos de Crofelemer: $ 5.2 millones
• Investigación de Canalevia: $ 3.5 millones

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio para 2023 fueron de $ 2.1 millones.

Fabricación y producción

Categoría de producción	Costo anual
Adquisición de materia prima	$ 4.3 millones
Sobrecarga de fabricación	$ 3.9 millones
Control de calidad	$ 1.5 millones

Personal científico y experiencia

Los costos de personal para el personal científico en 2023 fueron de $ 7.6 millones.

• Científicos senior: $ 3.2 millones
• Asociados de investigación: $ 2.4 millones
• Personal técnico: $ 2.0 millones

Estructura de costos operativos totales para 2023: $ 35.1 millones

Jaguar Health, Inc. (JAGX) - Modelo de negocios: flujos de ingresos

Venta de productos farmacéuticos

A partir del cuarto trimestre de 2023, Jaguar Health reportó ingresos totales de productos de $ 2.76 millones. Crofelemer (MYTESI) generó $ 2.74 millones en ventas de productos para el año.

Producto	Ingresos anuales (2023)
Crofelemer (Mytesi)	$ 2.74 millones
Ingresos totales del producto	$ 2.76 millones

Licencias de tecnologías médicas propietarias

Jaguar Health tiene acuerdos de licencia continuos, aunque los detalles financieros específicos no se divulgan públicamente para 2024.

Subvenciones y colaboraciones de investigación

En 2023, la Compañía recibió fondos de apoyo y apoyo de colaboración, con montos de subvenciones específicos no totalmente publicitados.

Líneas de productos de medicina veterinaria

Napo Pharmaceuticals (subsidiario) genera ingresos de las ventas de productos veterinarios, con cifras exactas no especificadas públicamente.

Categoría de productos veterinarios	Potencial de mercado
Soluciones de salud veterinaria	Segmento del mercado emergente

Posibles acuerdos de regalías futuros

• Evaluación continua de posibles oportunidades de regalías
• No se informaron los ingresos de regalías confirmados en 2023 estados financieros

A partir del último período de información financiera, los flujos de ingresos totales de Jaguar Health se mantuvieron limitados, con un enfoque principal en las ventas de productos farmacéuticos e iniciativas de investigación en curso.

Jaguar Health, Inc. (JAGX) - Canvas Business Model: Value Propositions

The Value Propositions for Jaguar Health, Inc. (JAGX) center on novel, plant-based therapies addressing significant unmet needs in gastrointestinal distress for both human and animal health.

For the human health portfolio, the value is anchored by Mytesi, which provides symptomatic relief:

• Mytesi: Symptomatic relief of noninfectious diarrhea for adults with HIV/AIDS.

Financial context around the human prescription products, which include Mytesi, as of late 2025:

Metric	Q3 2025 Value	Q2 2025 Value	Q1 2025 Value
Combined Net Revenue (Prescription & License)	approximately $3.1 million	approximately $3.0 million	approximately $2.2 million
Mytesi Prescription Volume Change (QoQ)	increased approximately 0.9%	N/A	decreased approximately 13.5% (vs Q4 2024)
Mytesi Prescription Volume Change (YoY vs Q3 2024)	decreased 3.6%	N/A	increased approximately 1.8% (vs Q1 2024)

The value proposition for the animal health product, Canalevia-CA1, is centered on its regulatory status:

• Canalevia-CA1: First and only FDA conditionally approved drug for chemotherapy-induced diarrhea in dogs.

The conditional approval renewal for Canalevia-CA1 was in effect until December 21, 2025. Jaguar Health, Inc. was seeking advice from the European Medicines Agency (EMA) regarding approval for general diarrhea in dogs in the European Union.

For the rare disease indication, Crofelemer offers a potential disease-modifying approach:

• Crofelemer: Potential to reduce total parenteral nutrition (TPN) by up to 37% in MVID patients.

Specific data points from the investigator-initiated trial in the UAE for MVID patients showed a reduction of total parenteral support (PS) by up to 37% during the extension period upon reinitiation of crofelemer treatment, with a total parenteral nutrition (TPN) reduction of approximately 30% observed in the same patient. Initial proof-of-concept results showed a TPN reduction of up to 27% in the first MVID patient.

The underlying scientific value proposition is based on the drug's origin and mechanism:

Attribute	Detail
Mechanism of Action	Plant-based, non-antibiotic mechanism of action for GI distress.
Regulatory Distinction	Crofelemer is the only oral drug approved by the FDA\'s Center for Drug Evaluation and Research under Botanical Guidance.

The combined net revenue for all prescription products (Mytesi, Gelclair, and Canalevia-CA1) in Q3 2025 was approximately $3.1 million.

Jaguar Health, Inc. (JAGX) - Canvas Business Model: Customer Relationships

You're looking at how Jaguar Health, Inc. (JAGX) connects with the people who use and influence its products as of late 2025. The relationships are highly segmented, reflecting the dual focus on an established human prescription drug and an emerging veterinary product, all while navigating the clinical development path for orphan indications.

For Mytesi, the relationship is managed through a controlled distribution channel. Prescription volume is the key metric here, reflecting patient access within that structure. For Canalevia-CA1, the focus is on direct engagement with specialists to drive adoption of the conditionally approved product.

Here's a quick look at some of the quantitative touchpoints across these customer groups:

Customer Relationship Metric	Value/Period	Context
Mytesi Prescription Volume Change (QoQ)	+0.9%	Third Quarter (Q3) 2025 over Q2 2025
Mytesi Prescription Volume Change (YoY)	-3.6%	Third Quarter (Q3) 2025 compared to Q3 2024
Veterinary Oncologists Surveyed	27	Board certified in the U.S. regarding Canalevia-CA1
Veterinary Oncologists Valuing Non-Antibiotic Status	20 (83.33%)	Felt Canalevia-CA1's non-antimicrobial nature was important
Estimated Annual US Cases of General Diarrhea in Dogs	Six million	Estimate cited by Jaguar Health
Canalevia-CA1 Effectiveness Study Enrollment	25%	As of August 2025 for the general diarrhea indication expansion
Crofelemer TPN Reduction in MVID POC	Up to 27%	Initial proof-of-concept result in an infant patient
Q3 2025 Net Revenue	$3.1 million	Combined net revenue for prescription/non-prescription products and license fees
Q3 2025 Net Loss (Attributable to Common Shareholders)	$9.5 million	Compared to $9.9 million in Q3 2024

Specialty pharmacy network for Mytesi distribution and patient access.

• Mytesi is distributed through a closed network of specialty pharmacies.
• The transition to this limited distribution network was completed in early 2022.
• Net revenue for Mytesi is part of the combined prescription products revenue, which was approximately $2.9 million in Q2 2025.
• Mytesi prescription volume saw a 0.9% increase in Q3 2025 over Q2 2025.

Direct sales and marketing to veterinarians for Canalevia-CA1.

• Canalevia-CA1 is conditionally approved by the U.S. Food and Drug Administration (FDA) for treating chemotherapy-induced diarrhea (CID) in dogs.
• The product is available from multiple leading veterinary distributors in the U.S., including Chewy.
• Jaguar Animal Health estimates U.S. veterinarians see approximately six million annual cases of acute and chronic diarrhea in dogs.
• Enrollment in the ongoing field study to demonstrate effectiveness for full FDA approval for CID reached 25% as of August 2025.
• The company is actively seeking collaboration to expand the indication to general diarrhea in dogs.

High-touch, specialized engagement with key opinion leaders (KOLs) and patient advocacy groups for orphan diseases.

• Engagement centers on crofelemer for rare diseases like microvillus inclusion disease (MVID) and short bowel syndrome with intestinal failure (SBS-IF).
• Initial proof-of-concept (POC) results from an investigator-initiated trial in Abu Dhabi showed crofelemer reduced required total parenteral nutrition (TPN) by up to 27% in MVID patients and 12.5% in SBS-IF patients.
• Jaguar Health is supporting three proof-of-concept IITs for these conditions.
• The company completed a meeting with the FDA in October 2025 to discuss the regulatory pathway for crofelemer for metastatic breast cancer, a population meeting the U.S. orphan definition.

Investor relations and public communication on clinical trial catalysts.

• Jaguar Health communicated expected Q2 - Q4 2025 catalysts related to crofelemer's follow-on indications during an investor webcast on April 30, 2025.
• The company hosted investor webcasts in May, August, and November 2025 to update stakeholders.
• Net loss attributable to common shareholders improved to $9.5 million in Q3 2025 from $9.9 million in Q3 2024.
• Non-GAAP recurring EBITDA for Q3 2025 was a net loss of $8.9 million.
• The strategy includes seeking business development partnerships for license rights to the orphan indication products to bring in non-dilutive funding.

Jaguar Health, Inc. (JAGX) - Canvas Business Model: Channels

You're looking at how Jaguar Health, Inc. (JAGX) gets its products, Mytesi and Canalevia-CA1, into the hands of patients and veterinarians as of late 2025. The channel strategy is segmented by indication, relying heavily on specialized infrastructure for its human product.

Closed network of specialty pharmacies for Mytesi distribution

Mytesi, for adults with HIV/AIDS experiencing noninfectious diarrhea, moves through a defined system. Jaguar Health, Inc. explicitly notes that prescription volume for Mytesi differs from invoiced sales volume because of 'varying buying patterns among specialty pharmacies in the closed network as they manage their inventory levels.' This structure suggests tight control over dispensing, which is common for specialty drugs. The combined net revenue for all prescription products, including Mytesi, was approximately $3.1 million in the third quarter of 2025. Mytesi prescription volume in Q3 2025 increased by approximately 0.9% over the second quarter of 2025.

Direct-to-consumer (DTC) marketing and educational outreach for Mytesi

The push to drive prescriptions is supported by the Sales and Marketing function. For the third quarter of 2025, Sales and Marketing expense was approximately $2.0 million. This expense level reflects ongoing market access activities necessary to maintain and grow the patient base for Mytesi within the established specialty pharmacy channel.

Veterinary distributors (like Chewy) for Canalevia-CA1

For the animal health product, Canalevia-CA1, which holds conditional FDA approval for treating chemotherapy-induced diarrhea (CID) in dogs, the channel strategy centers on securing a commercialization partner. Jaguar Health, Inc.'s stated primary objective for Canalevia is to 'secure a partner to help fund and execute development and commercialization globally for treatment of general diarrhea in dogs.' This indicates a reliance on established veterinary distribution networks, even if specific 2025 agreements with major players like Chewy aren't detailed in recent reports. The market opportunity is significant, with an estimated 6 million annual cases of acute and chronic diarrhea seen by US veterinarians.

Napo Therapeutics S.p.A. for European regulatory submissions and market access

European market access for Canalevia is managed through Jaguar Health, Inc.'s Italian subsidiary, Napo Therapeutics S.p.A., established in Milan, Italy in 2021. In December 2025, Napo Therapeutics S.p.A. submitted a request to the European Medicines Agency (EMA) for scientific advice from the Committee for Veterinary Medicinal Products (CVMP) regarding the plan to pursue EU approval for Canalevia for general diarrhea in dogs. The CVMP is scheduled to review this plan in March 2026. This subsidiary is also focused on expanding crofelemer access in Europe, specifically for orphan and/or rare diseases.

Here's a look at the revenue and volume data tied to the human product channel performance through Q3 2025:

Metric	Q3 2025 Value	Comparison to Q2 2025	Comparison to Q3 2024
Combined Net Prescription Products Revenue (Mytesi, Gelclair, Canalevia-CA1)	$3.1 million	Up 4%	Equal
Mytesi Prescription Volume	Not Stated (Index)	Increased 0.9%	Decreased 3.6%
Sales and Marketing Expense	$2.0 million	Not Stated	Slightly decreased from $2.01 million in Q3 2024

The structure for Mytesi relies on the existing infrastructure, where inventory management by the specialty pharmacies directly impacts invoiced sales volume.

Jaguar Health, Inc. (JAGX) - Canvas Business Model: Customer Segments

The Customer Segments for Jaguar Health, Inc. (JAGX) as of late 2025 are clearly delineated across human and animal health indications, with specific quantitative markers for each group.

• - Adults with HIV/AIDS on antiretroviral therapy (Mytesi).
• - Veterinarians and dog owners treating canine chemotherapy-induced diarrhea.
• - Patients with rare/orphan diseases like Microvillus Inclusion Disease (MVID).
• - Patients with cancer therapy-related diarrhea (future indication).

The primary human prescription product, Mytesi, serves adults with HIV/AIDS on antiretroviral therapy (ART) experiencing noninfectious diarrhea. Prescription volume for Mytesi saw an increase of approximately 6.5% in the second quarter of 2025 over the first quarter of 2025. This followed a sequential decline of approximately 13.5% in prescription volume in the first quarter of 2025 compared to the fourth quarter of 2024. The combined net revenue for prescription products, which includes Mytesi, was approximately $2.9 million in the second quarter of 2025.

For the animal health segment, Canalevia-CA1 targets veterinarians and dog owners dealing with chemotherapy-induced diarrhea (CID) in dogs. The FDA conditional approval renewal for Canalevia-CA1 was in effect until December 21, 2025. The Minor Use in a Major Species (MUMS) Designation threshold for CID in dogs is currently set at 80,000 dogs annually. To support potential European Union approval for general diarrhea in dogs, Jaguar Health submitted a request to the EMA based on a 2017 study involving 200 dogs. The broader market context suggests US veterinarians see an estimated 6 million annual cases of acute and chronic diarrhea in dogs.

The rare and orphan disease segment is focused on indications like Microvillus Inclusion Disease (MVID). The global prevalence for MVID is estimated to be only 100-200 patients. As of June 2025, enrollment in the company's placebo-controlled Phase 2 study for pediatric MVID reached approximately 25%. Investigator-initiated trial data for MVID showed a reduction in required total parenteral nutrition (TPN) by up to 27% in one patient.

The future indication for cancer therapy-related diarrhea (CTD) is supported by the completed Phase 3 OnTarget trial. The conclusion of this trial resulted in a Research and Development (R&D) expense decrease of approximately $0.4 million in the second quarter of 2025 compared to the second quarter of 2024. An FDA Type C meeting was scheduled in the second quarter of 2025 to discuss the regulatory pathway for this patient group.

Customer Segment Focus	Product/Indication	Key Metric	Value/Amount
HIV/AIDS Diarrhea (Human)	Mytesi	Q2 2025 Prescription Volume Increase (QoQ)	6.5%
HIV/AIDS Diarrhea (Human)	Mytesi	Q1 2025 Prescription Volume Decrease (QoQ)	13.5%
Canine Chemotherapy-Induced Diarrhea (Animal)	Canalevia-CA1	MUMS Designation Small Number Threshold (Dogs)	80,000
General Canine Diarrhea (Animal)	Canalevia	Estimated Annual US Acute/Chronic Diarrhea Cases	6 million
Microvillus Inclusion Disease (MVID) (Orphan)	Crofelemer (IIT)	Estimated Global Prevalence	100-200 patients
Microvillus Inclusion Disease (MVID) (Orphan)	Phase 2 Study Enrollment (as of June 2025)	Percentage Enrolled	25%
Cancer Therapy-Related Diarrhea (Future)	OnTarget Trial Completion Impact	Q2 2025 R&D Expense Reduction vs. Q2 2024	$0.4 million

The MVID patient group is also being supported through two U.S. expanded access programs. The overall combined net revenue for prescription products in Q2 2025 was approximately $2.9 million.

Jaguar Health, Inc. (JAGX) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Jaguar Health, Inc. (JAGX) business model, which is heavily weighted toward the operational expenses typical of a biopharmaceutical company focused on development and commercialization. These costs are the primary drain on cash flow, reflecting the ongoing investment in their pipeline and market presence.

The Research and Development (R&D) expenses show variation based on clinical trial progress. For instance, the R&D expense for the second quarter of 2025 was $3.3 million, which was a decrease from the $3.7 million reported in the second quarter of 2024, largely because the Phase 3 OnTarget clinical trial concluded, reducing associated contract manufacturing and regulatory costs. However, for the third quarter of 2025, R&D expense actually increased to $4.0 million compared to $3.7 million in Q3 2024, though this was still a decrease from the $4.3 million in Q1 2024.

General and Administrative (G&A) costs remain a significant fixed-like component. In the third quarter of 2025, G&A was reported at $4.1 million, an increase from $3.8 million in the same quarter of 2024. This rise in Q3 2025 was specifically attributed to increased legal and compliance expenses stemming from financing activities. To give you a broader view of the G&A trend, the second quarter of 2025 saw G&A at $4.7 million, up from $4.3 million in Q2 2024, also driven by legal and compliance costs.

To support commercial products like Gelclair, Sales and Marketing expenses are necessary, though they fluctuate. In Q2 2025, Sales and Marketing hit $2.5 million, a notable increase from $1.5 million in Q2 2024, driven by headcount and promotional activities for Gelclair's commercial launch. By the third quarter of 2025, this figure moderated to approximately $2.0 million, even as personnel costs increased, because third-party consulting expenses dropped.

The direct costs associated with generating sales, the Costs of Product Revenue, are relatively small compared to operating expenses. For the third quarter of 2025, this cost was approximately $0.53 million, a slight decrease from $0.54 million in Q3 2024, due to a minor drop in the average cost of Mytesi bottle lots. In the preceding quarter, Q2 2025, the Cost of Product Revenue was $0.5 million, up from $0.4 million in Q2 2024 due to higher Mytesi sales.

The need for continuous funding to cover these costs is evident, as Jaguar Health, Inc. secured additional financing. For the third quarter of 2025, the company raised $13.88 million through equity offerings and convertible notes to support operations and development efforts.

Here is a quick comparison of the main operating cost categories across the reported quarters of 2025 (all figures in millions of USD):

Expense Category	Q1 2025 (Approx.)	Q2 2025	Q3 2025
Research and Development (R&D)	$3.7	$3.3	$4.0
General and Administrative (G&A)	$4.9	$4.7	$4.1
Sales and Marketing	N/A	$2.5	$2.0
Cost of Product Revenue	$0.5	$0.5	$0.53

The recurring nature of these expenses means that Jaguar Health, Inc. continues to operate at a loss, which is a key feature of this cost structure. For example, the loss from operations in Q3 2025 was approximately $7.2 million.

You should keep an eye on the legal and compliance line item within G&A, as it signals the intensity of financing activities. If onboarding takes 14+ days, churn risk rises, but here, if financing activity spikes, G&A will definitely follow.

• Financing activities directly impact G&A through legal and compliance costs.
• R&D costs are influenced by the conclusion of major clinical trials like OnTarget.
• Sales and Marketing expenses reflect commercialization efforts for products like Gelclair.

Finance: draft 13-week cash view by Friday.

Jaguar Health, Inc. (JAGX) - Canvas Business Model: Revenue Streams

You're looking at the core ways Jaguar Health, Inc. brings in cash as of late 2025, primarily based on the third quarter results ending September 30, 2025. The revenue picture is a mix of product sales and strategic financing activities, which is typical for a company at this stage of commercialization and development.

The main engine for recurring revenue comes from the prescription products. For the third quarter of 2025, the combined net revenue for the Company's prescription products-Mytesi®, Gelclair®, and Canalevia®-CA1-along with license revenue, totaled approximately $3.1 million. This figure matched the revenue seen in the third quarter of 2024. Revenue from the non-prescription Neonorm™ products was minimal for the period.

Here's a quick breakdown of the key revenue components and financing events from that quarter:

Revenue/Financing Component	Q3 2025 Amount
Combined Net Revenue (Products + License)	$3.1 million
License Fees (European Partner)	$42,858
Proceeds from Equity Offerings/Convertible Notes	$13.88 million
Mytesi Prescription Volume Change (vs Q2 2025)	Up approximately 0.9%

The revenue streams Jaguar Health, Inc. relies on can be broken down further. It's important to see how much is coming from operations versus capital markets activities, as both fund the business.

• - Net product sales of Mytesi, Gelclair, and Canalevia-CA1, which form the bulk of operational revenue.
• - Combined net revenue for Q3 2025 was approximately $3.1 million.
• - License fees from the European partner for Q3 2025 were exactly $42,858.
• - The company secured significant non-operational funding, raising $13.88 million through equity offerings and convertible notes in Q3 2025.
• - Management continues to focus on securing future non-dilutive funding from business development partnerships, which would represent a key future revenue stream.

So, you see the operational revenue is steady, but the capital raises are what's currently providing the necessary cash runway for development efforts. Finance: draft 13-week cash view by Friday.