SAN FRANCISCO, CA / ACCESSWIRE / October 29, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") announced today that, effective October 25, 2021, the Company granted nonstatutory stock options for the purchase of up to 2,666 shares of the Company's common stock to New Employee 1 and nonstatutory stock options for the purchase of up to 1,583 shares of the Company's common stock to New Employee 2. These nonstatutory stock options have an exercise price of $2.02 per share, representing the closing price of Jaguar's common stock as reported by Nasdaq on the grant date. These nonstatutory stock options have a ten-year term and vest over three years, with 25% of the shares vesting nine months from the last day of the month during which each employee was hired by the Company and, thereafter, 2.78% vesting monthly for the remaining twenty-seven months.
Effective October 25, 2021, the Company also granted 1,333 restricted stock units (RSUs) to New Employee 1 and 791 RSUs to New Employee 2. These RSUs vest equally over three years, with one-third of the shares vesting each year starting from the date on which each employee was hired by the Company.
All RSUs and nonstatutory stock options described above were granted as an inducement material to each new employee's acceptance of employment with the Company and were approved by the Compensation Committee of the Board. Vesting of the nonstatutory stock options and RSUs is subject to each employee's continued service with Jaguar through the applicable vesting dates.
About Jaguar Health, Inc., Napo Pharmaceuticals, Inc. & Napo EU S.p.A.
Jaguar Health, Inc. is a commercial stage pharmaceuticals company focused on developing novel, plant-based, non-opioid, and sustainably derived prescription medicines for GI distress, specifically chronic, debilitating diarrhea. Our wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human gastrointestinal pharmaceuticals from plants harvested responsibly from rainforest areas. Our Mytesi® (crofelemer) product is approved by the U.S. FDA for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy and the only oral plant-based prescription medicine approved under FDA Botanical Guidance. Crofelemer is the subject of the OnTarget study, an ongoing pivotal Phase 3 clinical trial for prophylaxis of diarrhea in adult cancer patients receiving targeted therapy. Napo EU S.p.A., the wholly owned Italian subsidiary of Napo Pharmaceuticals, focuses on expanding crofelemer access in Europe.
For more information about Jaguar, please visit https://jaguar.health. For more information about Napo Pharmaceuticals, visit www.napopharma.com. For more information about Napo EU, visit www.napoeu.com.
About Mytesi®
Mytesi® (crofelemer delayed release tablets) is an antidiarrheal indicated for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy (ART). Mytesi is not indicated for the treatment of infectious diarrhea. Rule out infectious etiologies of diarrhea before starting Mytesi. If infectious etiologies are not considered, there is a risk that patients with infectious etiologies will not receive the appropriate therapy and their disease may worsen. In clinical studies, the most common adverse reactions occurring at a rate greater than placebo were upper respiratory tract infection (5.7%), bronchitis (3.9%), cough (3.5%), flatulence (3.1%), and increased bilirubin (3.1%).
More information and complete Prescribing Information are available at Mytesi.com.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements." 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.
CONTACT:
Peter Hodge
Jaguar Health, Inc.
[email protected]
Jaguar-JAGX
SOURCE: Jaguar Health, Inc.