Jaguar Health Files 2025 10-K Annual Report

TL;DR

Jaguar Health dropped its 2025 10-K. Check financials.

AI Summary

Jaguar Health, Inc. filed its 10-K annual report on April 7, 2026, for the fiscal year ending December 31, 2025. The filing includes various exhibits such as the 10-K itself (jagx-20251231.htm), supplemental exhibits (EX-4.51, EX-4.52, EX-10.116, EX-10.117), and certifications (EX-31.1, EX-31.2, EX-32.1, EX-32.2). The company's mailing and business address is 200 Pine Street, Suite 400, San Francisco, CA 94104.

Why It Matters

This filing provides a comprehensive overview of Jaguar Health's financial performance and business operations for the fiscal year 2025, which is crucial for investors to assess the company's health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the company's specific financial health and market position, not detailed here, would determine the true risk level.

Key Numbers

• 131 — Documents (Total number of documents included in the filing.)
• 6855507 — Size (bytes) (Size of the main 10-K iXBRL document.)

Key Players & Entities

• Jaguar Health, Inc. (company) — Filer of the 10-K
• 0001585608 (company) — CIK number for Jaguar Health, Inc.
• 2026-04-07 (date) — Filing date of the 10-K
• 2025-12-31 (date) — Period of report for the 10-K
• 200 PINE STREET SUITE 400 SAN FRANCISCO CA 94104 (location) — Mailing and Business Address

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, Par Value $0.0001 Per Share JAGX The Nasdaq Capital M
• $16 million — rrhea in dogs. Jaguar was provided with $16 million of non-dilutive capital in January 2026
• $2 million — ent with Future Pak, with an additional $2 million due to Jaguar upon completion of post-c
• $20 million — so has the opportunity to receive up to $20 million in milestone payments and other future
• $20 m — the Products in the Territory equal to $20 million, $50 million, and $100 million, r
• $50 m — in the Territory equal to $20 million, $50 million, and $100 million, respectively.
• $100 m — equal to $20 million, $50 million, and $100 million, respectively. Jaguar will contin

Filing Documents

• jagx-20251231.htm (10-K) — 6695KB
• jagx-ex4_51.htm (EX-4.51) — 155KB
• jagx-ex4_52.htm (EX-4.52) — 155KB
• jagx-ex10_116.htm (EX-10.116) — 55KB
• jagx-ex10_117.htm (EX-10.117) — 55KB
• jagx-ex19_1.htm (EX-19.1) — 80KB
• jagx-ex21_1.htm (EX-21.1) — 6KB
• jagx-ex23_1.htm (EX-23.1) — 11KB
• jagx-ex31_1.htm (EX-31.1) — 11KB
• jagx-ex31_2.htm (EX-31.2) — 13KB
• jagx-ex32_1.htm (EX-32.1) — 7KB
• jagx-ex32_2.htm (EX-32.2) — 8KB
• img31428190_0.jpg (GRAPHIC) — 5KB
• img131700728_0.jpg (GRAPHIC) — 152KB
• img131700728_1.gif (GRAPHIC) — 42KB
• img131700728_2.jpg (GRAPHIC) — 19KB
• 0001193125-26-144470.txt ( ) — 28226KB
• jagx-20251231.xsd (EX-101.SCH) — 3112KB
• jagx-20251231_htm.xml (XML) — 5807KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 30 Item 1B. Unresolved Staff Comments 66 Item 1C. Cybersecurity 66 Item 2.

Properties

Properties 67 Item 3.

Legal Proceedings

Legal Proceedings 67 Item 4. Mine Safety Disclosure 67 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 68 Item 6.

Selected Financial Data

Selected Financial Data 71 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 72 Item 7A. Qualitative and Quantitative Disclosures About Market Risk 90 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 91 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 162 Item 9A.

Controls and Procedures

Controls and Procedures 162 Item 9B. Other Information 162 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 162 PART III Item 10. Directors, Executive Officers and Corporate Governance 163 Item 11.

Executive Compensation

Executive Compensation 163 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 163 Item 13. Certain Relationships and Related Transactions, and Director Independence 163 Item 14. Principal Accountant Fees and Services 163 PART IV Item 15. Exhibits, Financial Statement Schedules 164

SIGNATURES

SIGNATURES 176 i Table of Contents PA RT I Forwardlooking statements This Form 10K contains forwardlooking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical facts contained in this Form 10K, including statements regarding our future results of operations and financial position, business strategy, prospective products, product approvals, research and development costs, timing of receipt of clinical trial, field study and other study data, and likelihood of success, commercialization plans and timing, other plans and objectives of management for future operations, and future results of current and anticipated products are forwardlooking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forwardlooking statements. In some cases, you can identify forwardlooking 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 forwardlooking statements in this Form 10K are only predictions. We have based these forwardlooking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. These forwardlooking statements speak only as of the date of this Form 10K and are subject to a number of risks, uncertainties and assumptions described under the sections in this Form 10K titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and else

BUSINESS

BUSINESS Jaguar Health, Inc. ("Jaguar"), in conjunction with Jaguar family company Napo Pharmaceuticals, Inc. ("Napo"), develops novel proprietary prescription drugs sustainably derived from plants for people with complicated gastrointestinal ("GI") disease states. Jaguar family companies Napo and Napo Therapeutics, S.p.A., an Italian corporation Jaguar was established in Milan, Italy in 2021, are focused on expanding global crofelemer access and are developing new therapies for orphan and rare GI conditions. Jaguar Animal Health is a Jaguar tradename. Magdalena Biosciences, a joint venture formed by Jaguar and Filament Health Corp., is focused on developing novel prescription medicines derived from plants for mental health indications. Jaguar was founded in San Francisco, California, as a Delaware corporation on June 6, 2013 ("inception"). The Company was a majority-owned subsidiary of Napo until the close of the Company's initial public offering on May 18, 2015. The Company was formed to develop and commercialize first-in-class prescription and non-prescription products for companion animals. On July 31, 2017, Jaguar completed a merger with Napo pursuant to the Agreement and Plan of Merger dated March 31, 2017, by and among Jaguar, Napo, Napo Acquisition Corporation ("Merger Sub"), and Napo's representative (the "Merger Agreement"). In accordance with the terms of the Merger Agreement, upon the completion of the merger, Merger Sub merged with and into Napo, with Napo surviving as the 1 Table of Contents wholly owned subsidiary (the "Merger" or "Napo Merger"). Immediately following the Merger, Jaguar changed its name from "Jaguar Animal Health, Inc." to "Jaguar Health, Inc." Napo now operates as a wholly owned subsidiary of Jaguar focused on human health, including the ongoing development of crofelemer and commercialization of Mytesi. Napo's crofelemer 125 mg delayed-release tablets (Mytesi) is an FDA (the U.S. Food and Drug Administration) approved pre

View Full Filing

View this 10-K filing on SEC EDGAR