Why Jaguar Health Stock Skyrocketed 49% Today
Shares of Jaguar Health (NASDAQ: JAGX) soared 49.3% on Friday, extending the pharmaceutical company's staggering gains since mid-November.
Jaguar Health's stock price is up a stunning 2,062% since its lows on Nov. 16. Investors have bid up the healthcare stock after management announced its plan to develop and commercialize crofelemer, a new drug aimed at helping people with inflammatory diarrhea, including those who have recovered from COVID-19 but are still experiencing symptoms.
Jaguar Health said the plan could involve a potential merger of its operating subsidiary with Swiss Growth Forum, a sponsor of a special purpose acquisition company (SPAC). Preliminary terms of the deal include Jaguar Health receiving upfront cash payments of as much as $10 million and at least $20 million in clinical development funding, as well as an equity stake in the new company of 30% to 49.9%.
Source Fool.com
