: Jaguar Health’s stock drops after results supporting ‘paramount’ trial have not been received yet
Shares of Jaguar Health Inc. JAGX were mauled for a 21.2% loss in morning trading Tuesday, after the drug maker said it has not yet received data supporting the Phase 3 trial of its treatment of diarrhea in cancer patients receiving therapy. The company is awaiting results from its Good Clinical Practice vendors supporting the trial. The results are “forthcoming,” the San Francisco-based company said. “The OnTarget trial is our paramount near-term clinical milestone,” said Chief Executive Lisa Conte. “We look forward to announcing and presenting the top line results when they are available.” Before Tuesday’s selloff, the stock had rocketed 97.4% since closing at a record low of 23.4 cents on Oct. 10, according to FactSet data. It has shed 22.5% over the past three months, while the iShares Biotechnology ETF IBB has given up 6.8% and the S&P 500 SPX has gained 3.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.