September 25, 2018 / 12:05 PM / 2 years ago

BUZZ-Jaguar Health: Surges on partnering with Canada's Knight Therapeutics

** Biotech’s shares jump 53 pct to $1.00 premarket on entering license and distribution partnership with Canadian drug developer Knight Therapeutics

** JAGX top advancer among U.S.-stocks trading before the bell, set for biggest one-day jump since March 8

** Under the deal, Knight gets the exclusive right to market Jaguar’s Mytesi and related products in Canada and Israel

** Additionally, deal grants Knight a right of first negotiation to commercialize the products in certain Latin American countries; Knight to be responsible for all regulatory and commercial activities in licensed territories for products

** Jaguar may receive payments of up to $18 mln upon achievement of certain regulatory and sales milestones, payable throughout the initial 15-year term of the deal

** Mytesi is an FDA-approved antidiarrheal indicated for symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy

** Jaguar had cash of $2.4 million, as of June 30, 2018

** Stock tumbled 70 pct YTD (Reporting by Medha Singh in Bengaluru)

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