There was no material news about Jaguar Health Inc (NASDAQ:JAGX) on Monday but the stock was in sharp focus among investors and ended up with gains of as much as 12% amidst heavy action.
Market Reaction:
On Monday, JAGX stock moved up 12% at $2.02 with more than 9.58 million shares, compared to its average volume of 1.46 million shares. The stock has moved within a range of $1.8300 – 2.1500 after opening the trade at $2.07.
Major Trigger
While it is true that there is no fresh news, it could be a good move for investors to take a look at the updates that had been provided by Jaguar health with regards to its research and developments activities back on October 7. The research and development activities in question are in relation to the work beign done by Jaguar Health with regards to the crofelemer drug related candidates.
However, that was not all. The company noted that its Italy based subsidiary Napo EU also submitted the necessary notifications that had been demanded for the merger with Dragon SPAC. The notifications had been demanded as per the provisions of the laws in Italy.
Lisa Conte, who is the Chief Executive Officer and President of Jaguar Health spoke about the potential merger as well and noted at the time that the regulatory filing with the Italian authorities were complex in nature. However, she did acknowledge that shareholders had been looking forward to the merger with interest.
