Jaguar Receives Extension of Nasdaq
Listing
Jaguar Animal Health, Inc. (NASDAQ:JAGX) (“Jaguar”), an animal
health company focused on developing and commercializing
first-in-class gastrointestinal products for companion and
production animals, foals, and high value horses, today announced
that it has signed an exclusive distribution agreement with JP
Equine Services for distribution of Jaguar’s lead non-prescription
products, Neonorm™ Foal and Neonorm™ Calf, in Japan.
Neonorm™ Foal is a natural, clinically-tested, non-drug product
designed for use as an anti-diarrheal in newborn horses. Diarrhea
is one of the most common clinical complaints in foals, especially
within the first 30 days of life. The crippling effects of
dehydration that often result from secretory diarrhea in foals can
manifest quickly, precipitate adverse health effects and lead to
death. Neonorm™ Calf has been formulated and clinically tested to
help proactively retain fluid in dairy calves and reduce the
severity of diarrhea—aiding calves in avoiding debilitating,
dangerous levels of dehydration associated with scours.
In the year 2000, there were an estimated 115,000 horses in
Japan1—a country where more than 21,000 horse races are held
annually. According to the Japan Dairy Council, there were an
estimated 1,450,000 dairy cattle in Japan in 2012, spread across
20,100 dairy farms. Although dairy products have traditionally not
represented a large portion of the Japanese diet, increases in
disposable income in recent years have led to an increased interest
in foreign products and growth in the intake of dairy.2
Headquartered in Jamaica, NY and established in 2001, JP Equine
Services began as a shipping company handling transport of
thoroughbred racehorses to Japan, Korea, Saudi Arabia and Italy.
The company later expanded into distribution of equine products to
breeding farms and veterinary practices throughout the world.
“We’re very excited to represent Neonorm™ Foal and Neonorm™ Calf
in Japan and look forward to a successful relationship with Jaguar
Animal Health,” commented Jimmy Preziosi, founder of JP Equine
Services.
Henry Schein, Inc., the world’s largest provider of health care
products and services to office-based dental, animal health and
medical practitioners, continues to serve as Jaguar’s exclusive
distributor of Neonorm™ Foal in the U.S. equine market.
Extension of Nasdaq Listing
Jaguar also announced today that, on April 27, 2017, the Company
was notified that the Nasdaq Hearings Panel (the “Panel”)
determined to grant the Company’s request for continued listing on
Nasdaq. The Company’s continued listing is subject to the
completion of Jaguar’s proposed merger with Napo Pharmaceuticals,
Inc. on or before July 31, 2017, and the Company’s compliance with
Nasdaq’s $2.5 million stockholders’ equity requirement as a result
of the merger. The Company is diligently working to timely evidence
compliance with the terms of the Panel’s decision. The decision
follows the Company’s recent hearing before the Panel, at which it
presented its plan to evidence compliance with the stockholders’
equity requirement concurrent with the merger.
About Jaguar Animal Health, Inc.
Jaguar Animal Health, Inc. is an animal health company focused
on developing and commercializing first-in-class gastrointestinal
products for companion and production animals, foals, and high
value horses. Canalevia™ is Jaguar’s lead prescription drug product
candidate, intended for the treatment of various forms of diarrhea
in dogs. Equilevia™ (formerly referred to as SB-300) is Jaguar’s
prescription drug product candidate for the treatment of
gastrointestinal ulcers in horses. Canalevia™ and Equilevia™
contain ingredients isolated and purified from the Croton lechleri
tree, which is sustainably harvested. Neonorm™ Calf and Neonorm™
Foal are the Company’s lead non-prescription products. Neonorm™ is
a standardized botanical extract derived from the Croton lechleri
tree. Canalevia™ and Neonorm™ are distinct products that act at the
same last step in a physiological pathway generally present in
mammals. Jaguar has nine active investigational new animal drug
applications, or INADs, filed with the FDA and intends to develop
species-specific formulations of Neonorm™ in six additional target
species, formulations of Equilevia™ in horses, and Canalevia™ for
cats and dogs.
For more information about Jaguar, please visit
www.jaguaranimalhealth.com.
Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements.” These include statements regarding
the completion of Jaguar’s proposed merger with Napo
Pharmaceuticals, Inc. on or before July 31, 2017, the Company’s
ability to timely evidence compliance with the terms of the Panel’s
decision, Jaguar’s intention to develop species-specific
formulations of Neonorm™ in additional target species, and the
Company’s plan to develop formulations of Canalevia™ for cats,
horses and dogs. In some cases, you can identify forward-looking
statements by terms such as “may,” “will,” “should,” “expect,”
“plan,” “aim,” “anticipate,” “could,” “intend,” “target,”
“project,” “contemplate,” “believe,” “estimate,” “predict,”
“potential” or “continue” or the negative of these terms or other
similar expressions. The forward-looking statements in this release
are only predictions. Jaguar has based these forward-looking
statements largely on its current expectations and projections
about future events. These forward-looking statements speak only as
of the date of this release and are subject to a number of risks,
uncertainties and assumptions, some of which cannot be predicted or
quantified and some of which are beyond Jaguar’s control. Except as
required by applicable law, Jaguar does not plan to publicly update
or revise any forward-looking statements contained herein, whether
as a result of any new information, future events, changed
circumstances or otherwise.
1A. Fotovati1, Y. Mizuno, T. Ito and H. Moriyama, A Statistical
Study of the Horse Industry in Japan, Asian-Aus. J. Anim. Sci. 13
Supplement July 2000 C: 403
2The Food and Beverage Market Entry Handbook: Japan: A Practical
Guide to the Market in Japan for European Agri-food Products
Jaguar-JAGX
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version on businesswire.com: http://www.businesswire.com/news/home/20170428005373/en/
KCSA Strategic CommunicationsGarth Russell,
212-896-1250grussell@kcsa.com
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