Q3 2020 Jaguar Health Inc Earnings Call
And then once you're going to net.
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Yes.
Good day and welcome to the Jaguar Jaguar Health Investor Conference call Today's conference is being recorded.
Before I turn the call over to management I'd like to remind you that management may make forward looking statements relating to such matters as continued growth prospects for the company.
Certainties regarding market acceptance of products.
Active competitive products and pricing.
Sure and trends and product and technology initiatives, including products and then.
And stage, which may not achieve scientific objectives or meet stringent regulatory requirements.
Forward looking statements are subject to risk and uncertainties that could cause actual results to differ materially from those complete contemplated in such forward looking statements.
These statements are based on current available information and management's current assumptions expectations and projections about future events.
Management believes that its its assumptions ex expectations and projections are reasonable and you have currently available information.
Oh, gosh and not to place and do that.
And some of these forward looking statements. The companys actual results may differ materially from those discussed on this call from a variety of reasons, including those described and the forward looking statements and the risks factors sections of the company's form 10-K for the year ending December 31st 2019, which was filed April 32020, and that's it.
<unk> filings with the EPS, you see which are available on the Investor Relations section such otherwise website.
Except as required by law Jaguars health undertakes no obligation to update or revise any forward looking statements contained in this presentation to reflect new information future events or otherwise it.
Additionally, please note that the company's supplements its cash condensed consolidated financial statements presented on a GAAP basis, but provide and grow sales non-GAAP EBITDA and non-GAAP recurring EBITDA Jeff.
Jaguar believes that the disclosure items on these non-GAAP measures provide investors with additional information that reflects the basis upon which the company's management and.
<unk> and operates the business.
These non-GAAP financial measures should not be viewed and isolation or subsidies for cap and net sales and GAAP net loss.
And I'm not substitutes for or superior to measures of financial performance and conformity with cap.
And now at this time, it's my pleasure to turn the call over to Lisa.
Otherwise health, President and Chief Executive Officer, He said the force not yours.
Work force Yeah. They can very lucky I think you all joining our call today. My name is Lisa Budtke, and founder and CEO, and Jaguar and health and a wholly owned subsidiary.
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And then going to change and they want.
As always and want to begin todays call since moving my heartfelt thanks to our dedicated channel when you feel a bit and.
Over many years with one go on line.
And stackable.
And the Blue Cross plan Sage prescription medicines and people all around the world.
I'm going to start with the key financial results for the third quarter of 2020 and are you still with gratitude income.
Yeah, this quarter husband, Jaguar and hotel was able space.
That's a flow achieved and the second quarter 2012.
With the initiation of our patient access program and no okay and.
And Oh, and United States and the door.
Doors, and modified working environment, and actually came up and down.
Turkey sales.
<unk> third quarter 2020 for approximately $2.8 million third quarter 2000, and so we're one day.
Third quarter 2012, adult represents approximately 280% and deploy.
Okay very good 2019.
Okay, and $1.8 million quarter over quarter.
That's your gross sales for the third quarter 2020 per approximately $6.3 million per according to GAAP Nonfuel sales were approximately $1 million excuse me 2020, we adults.
That's a constantly revisit burden it you could spend and the pay.
Sales here in 2019, or and increased 4.4 million quarter over quarter.
The sales increase was accompanied by a reduction in cost of cotton costs.
Cost of product revenue in the third quarter 2020 was well hey, good strength.
And with the cost of product revenue, 97% and the third.
Third quarter 2000, and so.
This reduction was primarily due to crew management and <unk>.
Actually that's one line.
Okay and can be able to say that we believe our efforts over the past several years to streamline operations and Jaguar and also due to our long term financial prospects.
The line younger kids, where during the unprecedented circumstances, if its going down and you've been able to achieve that and essentially that's the basic level sales revenue, which is approximately three times. The commercial performance we achieved in 2009 our.
Our core focus today is our chief financial sustainability of the commercial business and 2021 based on sales of Grand day, My trips and eat that's a real good for hotels.
Okay and.
So the current approved indication of HIV, because it's not every day.
Net.
Continuing to remove barriers per patient starts it's like <unk> <unk>.
And continuing to health services to our NAV health care patient and that's okay.
And.
As far and not both from the robust pipeline of potential my technique and Capella.
Oh, one indication to pursue additional non dilutive financing both from potential business and all the partners if it did and non U.S. likes and dislikes like Chesapeake and or from working financing transactions related to future My kit sales.
From a capitalization and standpoint, we have made progress and keep talking 20, as we work to school.
The coke and keep duct and non dilutive financing transaction and we did get related to the six year and nalco legal battle that was resolved in 2016, which turns my pencil global commercial line CFO.
As a specific tactics Jaguar has sockets focused on long term investors. The company has executed deals cool and related excuse that persisted and warrants not held by long term and Dr. <unk>.
<unk> two exchange to promise and stop it simplifies the capitalization of the company and eliminate restricted covenants associated with the security, thereby facilitating non dilutive financing opportunity.
As we announced last month, the company closed and that's one and our 2020 and.
First million dollar tranche the bark previously non non-GAAP do the royalty financing transaction.
Which has the potential to total subs and billions and.
I wouldn't itself well to like related to future revenue streams from my taxes.
No I'm not filled it's ever been and Mitchell transfer this financing transactions increased from 5 million.
And by mutual consent cylinder.
Regarding additional channel for 2020 funding for examples recently initiated single pivotal phase three clinical trial.
Calibre bypassing the same I tip, you formulation for Cocowalk with the diarrhea, and adult care for patients and Eagle targeted therapy and.
And we have potential additional tortured and $5 million.
Instead of your 2001 in July 2000 from one respectively subject and mutual agreement between the parties and the timing of these truncated is matched to the extent the progress of the phase three clinical trial.
And the first one you pay like it's not good for six months from the day after the transaction.
And would not have been able to execute and working deal. It's thoughtful type assets given the restrictive covenants and our outstanding series a preferred stock.
We believe the veep and elimination and exchange of the series a preferred stock.
Let's see here, but substantially increased sales of like Turkey demonstrated their second and third quarters of this year will allow us to engage and additional non dilutive financing about Trinity health living business development cooperation.
To support our efforts to ensure that celebrates development regulatory approval and commercialization.
All the target patient population and indeed on a global basis.
In addition to the work on our balance sheet and the capitalization easily tremendous progress on our drug development efforts, which are focused on it and then the teacher other many with that's possible associated with drug development.
And therefore, our pipeline development will be focused on follow on indications one large parties.
Already approved flow park indication, and which aired and which therefore has completed huh.
Safety testing the.
I can't see a drug which had no FDA approved supply chain and we are currently bringing apartments, and treat and grain cars and making it available from a patch with and pharmacy in the United States.
And like a drug with proof of concept and it's the most follow on indications.
The initiation of the phase three program for cancer therapy, the weighted diarrhea, it doesn't really matter of architecture and focus.
Oh area most.
Most current and thought that scale cancer therapy. It there and currently no inc. and tested and approved for this indication.
In addition to causing a great peak and it's called <unk> and embarrassment day.
And 60 ability to Patriots day on her life, saving accounts and medication and potentially accept and care for cheap outcomes.
So really supportive care situation occurred did poor therapy, and its nausea and vomiting.
No it's night and day.
Global commercial market, which existing park one starts are projected to reach a value of one point.
No $1 billion by the end of this year.
And so which treat those are typically taken up a three day at the beginning of a team of people as opposed to the chronic situation and diarrhea and Ericsson both during and after careful therapy author lasting yours.
Your first speaker from the comfort me for today's call and a different and myself.
Following my comments, so why is that Jaguar senior Vice President of Finance and Chief Accounting Officer will provide a brief recap of Q3 2020 financial.
Following Carol and rent our vice President of course and strategy will then provide updates regarding our line with that that's program like that.
For the dedication and the.
And not to be non it's actually started we're in adult patients with HIV AIDS on it and that's about therapy.
[laughter] encouraging trends and developments regarding my pets.
Net she's probably think about their doctor because in each other very well talk about price born activities regarding propel and her and lifestyle and most notably about I'll call rights and I'd be target follow ons and occasion.
Single pivotal phase three clinical trial, Oh my taxi.
Prophylactic and diarrhea, and adult care to patients receiving targeted therapy.
Well then hear from Dr., Michael Goodbye, Jaguar, Vice President of the clinical and non clinical studies regarding ongoing development efforts with relative to Jaguar World class stage drug candidates Parnell.
To treat chemotherapy, and it's very rare and dog and exercise and deep diarrhea and dogs.
And finally, Dr., Stephen King and hardworking sustainable supply and the clinical research and contracting officer.
But jaguar to make that move Lawrence mental health and Theyll again therapeutics and much of it.
Before we get there I feel like all of you participating work and they all know that we can questions can be submitted via the webcast link to this call, but appears RV is there some credit and taking a page of the Investor Relations section of Jaguar sites.
And you are L. for example, its website and Jaguar JV do a odd Dot Hill and.
And to be done so because the teachers teach the theaters on their kids to be 2012 earnings press release.
We were just question during the Q and they said, but at the end of today's call and we'll do our best to get to as many questions as possible and at the time.
Hi, Daniel.
I'll now turn the call over to kill our dock and line also realized that I need and this state and are carefully and growth Q3 2019. Gross result, so Carol Yu. Please correct that Aaron GAAP EPS when it over to you now.
Thank you Lisa and thank you all for joining our call today.
The key financial highlights for the quarter ended September 30, 2025, that's follow.
Like Chelsea net sales during the third quarter of 2020 were approximately 2.8 deal and and 1 million and the third quarter of 2019.
Good day third quarter of 220 result represents approximately 280 to put some of the same period in 2019.
War and increase of 1.8 million quarter over quarter.
My touch and go to sales during the third quarter of 2020.
Approximately 6.3 million and 1.9 million interest every quarter of twin line T.
<unk> third quarter with 2020 years old.
Represents approximately 332% of the.
Same period and 29 tea.
Or an increase of 4.4 million quarter over quarter.
The increase in sales coincided and enhancements examples like Pepsi patient access program known as Babycare in the beginning of April 20 Twond.
Total like Chelsea prescription volume, which is a combination of new prescriptions and eat field.
Was maintained and essentially consistent level of activity in the third quarter 2020 over the third quarter 20 lines he of.
According to data up to like here.
And by their life Sciences industry analytics.
The total operating expenses for the third quarter was 2020.
It was approximately 8.1 million, it's computers and 7.7 million from the same period last year.
5.8 percentage point fourmillion increase quarter over quarter.
The increase in total operating expenses.
And you do and increased R&D expense, but.
Slide 22 million.
General and administrative expenses 1.2 million, primarily due to the net impact of a onetime trial delays P related to the top and coaches and license arrangement its outlook Sciences L. T Force.
Well not boats and Pete flight from the drug candidate.
The company made the decision not to initiate the Peach Peach study and terminated and performance obligation.
These were offset by a decrease of 22 million and cost of revenue.
Point 2 million decrease in sales and marketing expenses.
Net decrease.
And of the temperature wont be like each agreement.
And 6 million in the third quarter of 2019.
The net loss for the third quarter of 2027.
7.9 million compared to the net loss of 7.6 million in the third quarter 20 <unk>.
Yeah Walter said.
Approximately 1.2 million increase over quarter over quarter.
The increase in net laws and it's primarily due to an increase in despair volume of financial instruments of 2.9 million.
Offset by a decrease in interest expenses point 8 billion.
A decrease in loss from operations of 1.4 million.
A decrease of other income and quite 1 million.
And a decrease boy pretty really looks lots with extinguishment of debt.
That concludes my recap of high level financials for the third quarter, two and each one.
I will now and the discussion over to Jordan ex Speaker you and.
Thanks, Carol and good morning all.
As a reminder, we launched our non bulk carriers patient access program and the second quarter of 2020 unknown to us that we'd be launching in the midst of first cobrand wave and shelter and place as the pandemic continues to dominate daily life and timing of medical care and launch is proving to be invaluable.
And critical to help me and my testing patients usually start since day, one and my chest pain medication, given tobin related challenges patients face and actually see care filling prescriptions and stability of employment and ensure and status my.
I guess he is indicated for chronic condition. So if your interest officially persistency critical success metrics from both patients and are commercial business as part of our market access strategy, you're expanding our efforts by now increasingly distributing my CESI through specialty pharmacy channel due to their capabilities to help support from.
And success on chronic medications.
The first step and this initiative is our agreement with a large national specialty pharmacy chain, which launched on October 5th 2020.
This change will now support all of their my 50 patients through their specialty services, which includes mail order of medications part.
Prior authorization appeal support if your inch reminder, calls and treat causing trio she patients to the non smokers patient health.
This program represents a significant improvement and support from I guess, your patience and help them more and usually start and stay on their medications.
2028, amazed survey showed that 91% of physician respond and stated that prior authorizations from P.H. resulted in a treatment of late and 86% of respond and stated the T. a bird and should have increased over the last five years, perhaps most concerning is that 74% and physician survey.
He stated that a P.A. currently sometimes lead treatment abandoned.
And I hope cares as a key initiative to help support patient access to my Tennessee.
And our specialty pharmacy services, well positioned to help patients successfully navigate prior authorization requirements and gain access to my cash.
In addition to the suite of patient support services, the specialty pharmacies and provide this will also reduce our distribution fees by an estimated 45 percentage from approximately 11% of whack to now 6% of wax significantly improving our gross to net revenue performance.
We're also excited to announce the addition earlier this month of Andre just share the Doctor of veterinary medicine to our commercial team and senior director of animal Health Andre brings and important blend of clinical academic and commercial experience and help build and lead or animal health business. This includes the new norm.
The products I believe yes, and the pending new animal and drug applications supporting Registrational candidly via per sale next year for chemotherapy induced diarrhea and exercise induced diarrhea.
Andreas roll represents an important investment and the Jaguar animal health division to develop and other revenue stream for the commercial organization.
That concludes my comments for today I will now turn the discussion over to Dr. chaturvedi to discuss per Felmer development activities.
Thank you and and good morning to all.
Thanks, I mentioned and as announced last month.
Apple has initiated its pivotal phase three multicenter clinical trial for from my trusty from.
From an access of diarrhea, and adult cancer patients receiving targeted therapy.
Good day for in kind of answer this proposed indication I see two day, starting from Kansas and it really took idea.
The initiation of the pivotal and multicenter randomized double blind placebo controlled phase three trial its a key milestone from my chassis and.
As we evaluate its potential to event and or mitigate the intensity and severity of diarrhea experience. The adult cancer patients receiving targeted cancer therapy regimens, which may also and combinations with standard chemotherapy regimens.
What's called and endpoint definitions for the study was discussed and agreed to with the FDA. After collaborative discussions based on the success of profound most pivotal trials.
And supporting its currently approved indications from my test for the symptomatic relief of HIV day later diarrhea.
Does she did your trial is a 24 week study comprised of cash 12 week stages.
Which will evaluate and according to formulation of my trusty. That's the same dosing regimen that as he was for the symptomatic relief of non infectious down here and I don't think HIV AIDS patients with you and I talked about it for me.
From our office people treat and we'll start concurrently.
Targeted cancer therapy regimens.
The primary endpoint will be assessed to be and have begun to show 12 week double blind placebo controlled period before interest stage one.
Completing the stage one treatment phase the subjects will have the option to remain on day, one assign treats and Tom and re consent to answer the second 12 week stage two extension phase.
Yes, that's not a reduction or died and able to get measured by the comparison.
Average number and a weekly and also what price tools for the stage luxury and I'm curious for the placebo or from our homes.
Yes.
Phone calls and Kenexa participating in this study and the studies and I'd buy on National principal investigator Dr. Pablo freeze and.
Who is professor of Medicine, and MD Anderson cancer Center.
According to the center for disease control and interventions approximately 650000 cancer patients and the United States.
If chemotherapy and an outpatient like on oncology clinic each year.
<unk> as a common interest event seen with chemotherapy agents typically use for solid tumors, such as breast and colon.
In particular.
Oh, and recently introduced introduced chopped and if you're to class itself, but to give them a growth factor into receptor inhibitors, such as easier far innovators and tyrosine kinase inhibitors and the sticker price. So to say Q4, and six inhibitors are often goes and actually went or metastatic setting for the management of chronic per day.
Yeah and cancer patients.
And ability of immunotherapy used to address diarrhea, and cancer patients receiving targeted therapy with or without standard chemotherapy, but likely result, and improved tolerability of accounts or regimens and get appropriate approved and dosing levels.
This would potentially virtuous and need for cancer drugs, those strategic options and truck holidays, and all just continuations potentially leading to improved cash flow to up your children's and outcomes.
And although physiologically acting and you got your and sort of my testing that's holds promise for the treatment of secrets or diarrhea and cancer patients.
In addition to not those ongoing phase three clinical trial. There are some ongoing investigator initiated studies to evaluate the effects from or.
And addressing functional and chronic idiopathic diarrhea, which may also include some IPO spacious and.
Study at the University of Texas, and Houston. It was recently initiated and patients are being screened and enrolled in this trial and with that.
<unk> has been affected by restrictions due to covert 90.
Another exposure and your child functional diarrhea has been initiated at the back is about a day kind of medical Center and Harvard Medical School institution and Boston.
The study will have a four week double blind placebo controlled period, followed by another four week open label treatment for eligible patients with functional diarrhea.
The study is expected to initiate enrollment of patients next month and.
In addition to these functions out of your studies, the investigator initiated trials and metastatic hertwo positive breast cancer patients at Georgetown University Medical Center is nearing completion of its treatment phase and.
And I've always also developing new and liquid formulation and that would allow the initiation of clinical studies and pediatric patients that have congenital disorders that.
Patrick why feeding tubes, and total parenteral nutrition and support to survive non.
And I've always and active discussions with clinicians and regulatory experts.
And just orphan and rare disease population and is evaluating both United States and middle East and clinical trial sites.
The lotto away, the covenants and peace patients and higher numbers, and it's developing and appropriate clinical development plan to support our goal of expedite and availability of for from a quick, especially and population to interest got Civeo diarrhea.
In summary, and Apple has an ongoing phase three clinical trial for from our cancer therapy related diarrhea, and solid tumor patients as well as investigator initiated studies for the treatment of functional and video Patrick diarrhea, and adults with per from Apple is also developing and appropriate pediatric liquid formulation to support studies and children with congenital dogs.
And the sodas.
And I'll turn the discussion over to my colleague Dr., Michael Guy Michael.
[noise] and your dividend and good morning, everyone.
Leases day to can only be a it's football a month or two.
And we'll use indications specifically generally viewed as Jaguar is world class based prescription drug candidate for the treatment of gene that there'd be a news day, we have and dogs or see I'd.
Well and exercise and dues diarrhea, or E I'd and dogs.
Well then the Bob Douglas seeking conditional approval of channel, we foresee Guy D and E.
D. and dogs and get the minor use line of species animal health. After 2004, typically refer to as Muslims or and you asked.
And we just modeled on the orphan drug designation for human drug development.
The gain approval of an animal health prescription drug product and.
Plugs after the filing of a new drug application for human Education company, let's sit net major technical sections that govern chemistry manufacturing and controls data and.
Water and middle and back data.
And target animal safety data.
It's part of the process is identical for either they moms for full approval of an animal health.
In addition for the moment pathway and kept the perception that demonstrates reasonable expectations of effectiveness.
We must also be submitted.
Each of these four major technical sections requires a six month review at which point gets yet and as Dean all four sections complete.
And then just like it lead and the animal drug application is filed which then leads to approval to sell the product two months later.
We plan to submit the new animal drug application or B, and a D.A. and.
The second quarter of next year, but candidly and for both the C.I.D. and the idea and indications once.
Once again, a D.A. is accepted for filing the statutory review period, and 60 days and generally be and we'll be conditionally approved for both the C and D and E 80 indications that Q3 GAAP next year.
It's conditional approval allows for commercialization of the product while the sponsor continues to collect the substantial evidence that the list that is required and full approval.
Moving to the games conditional approval for a moment designated drugs received seven years of marketing exclusivity.
According to plan and estimates more than 230000 jobs and the U.S. from sheep chemotherapy treatment for various cancers, each year and roughly one in for more than $50000. So that's the navy to experience diarrhea, and the side effect of this treatment.
It was really dealt with FDA approved anti cyclical per script, you brought it to manage that type of yellow JV diabetes and dogs.
He is not only day health and competition for the dog also impacts dog owners. These of line as well as their home and living environment.
Who's Jaguar July 2017 merger with novel levels Human portfolio has been and continues to be a focus.
Oh work and develop the problem with the dogs suffering from debilitating day, we provides a helpful models for human medical needs.
Right and mechanism of action a good bellwether is finally goods are not only and dogs that across all levels.
It's important to note that almost all cancer treatments agents provided your dogs are human drugs and these.
Agents and mechanisms of action, often have meaningful weighted diarrhea, and both human and dogs.
I thought the gadget therapy, and dogs can be $10000 and more depending on the size of the dog.
And appeal to better be treatment and the adjusted use of other treatment modalities, such and surgery or radiation.
I'd like to add my welcome back adopted I guess, you're right there and there's a base and of the prescription drug products for dogs, and overall greater attention to ever get any animal health program.
That concludes my comments I will now turn the discussion over to Dr., Stephen King and discuss Jaguars recently launched mental health and begun therapeutics and Michigan.
Thank you, Mike and thanks to all of you for joining us this morning.
As announced this past September Jaguar and has launched and mental health and <unk> Therapeutics and distribute the program are for and Jewish <unk>.
The teams to discover and develop groundbreaking novel and that's you medicines derived from cycle after plants.
And the mood disorders, you'll degenerative diseases additions as well as schizophrenia and other mental health conditions that present psychotic symptoms.
Were members of the Jaguar and Apple TV began searching for new drug candidates 1989, or would you need to do that and she lives and reinforce areas around the world.
Amazon base and traditional viewers taught our research teams about diversity and parents used to treat and number of diseases and today, we have a library of approximately 2300 plants with additional properties, including flow time Lucky line.
And the social could sell them or active ingredient and my Tennessee, and just first and only natural still trade plant based all drugs poop I Wonder if you had the chance and guidance.
Gee I program and initially focus on plans contained in this proprietary library.
Go ahead, and initial selection plant and leads generated by our scientific strategy team.
Our newly appointed scientific strategy team for each <unk> consists of reading and global even though that's my botanists positions from.
Colleges, as well and experts and the fields and natural product and the streets and you'll pharmacology.
We believe we will exploit expertise experience and commitment of our team, which is comprised of multiple and members of the original scientific so gene and contribute to the development of novels plant Library.
Looks like and instrumental role and advancing our shared goal of identifying plants and our libraries and they have the potential to treat specific mental health conditions.
I'm excited to reported <unk> scientific strategy team is gearing up for the first and meeting involved and the whole team, which is scheduled to take place early next month.
According to the World Health organization water and for people and the world would be and that's a bug mental or neurological disorders at some point and their lives.
450 million people currently suffer from such conditions plates and mental health disorders, among the leading kids causes.
Health and disability worldwide.
As announced last month, the G. I feel good is targeting the plant based component almost any possible indications from day to schizophrenia and other psychosis and.
For development with potential corporate partners.
Also I mean is it had really isn't being type alkaloid that occurs naturally and a variety of plant species, including a wet species of West Africa and plant contained in our library.
No psychopharmacology profile and analysis all study shows that the comp on demonstrates and two psychotic activity and has a mechanism of action distinct from existing and deep groups therapies for schizophrenia, and other mental health conditions that present psychotic symptoms.
Schizophrenia, the most serious form of psychosis is a chronic disabling mental illness that affects approximately 1% of the U.S. population and that's.
Estimated that up to 34% of patients with schizophrenia fail to respond to currently available treatments.
Yeah, we remain steadfastly focused and the commercial success and my chassis and and the development.
From the fall in line indications and area G.I. health.
I was thrilled and stuff that potentially and cover.
Like a novel cycle at the plant based compounds and.
Gauge with recognized leaders in the space and share our findings with potential corporate partners with the goal of developing plant based compounds into positive medical directors.
Two decades, the Jaguar and methods and has recognized and unique and powerful traditional knowledge and and business to business peoples have about cats ecosystems, inter relationships and feeling trapped items and we continue to be extremely grateful to the traditional views with taught and field.
Teams and research scientist about medical applications, and plans to treat and get people and niche communities and the world.
That concludes my comments and I will now try and discussion that there will be to compete.
Okay. Thank you very much team and they do like to then Ian and in capital from the get the Penny.
Okay looking back to the line non I I'm very pleased with the virtual thinking he felt good die and we had dialogues disease education and Jaguar hosted on October 20, and that's.
For investors and businesses all non contact.
No other terrific event.
Okay, leaving and focus on leading key opinion leader oncologist patient advocates and point of care experts addressing the importance of supportive care for people experiencing onyx and lower Gi track and.
Specifically with regard to debilitating diarrhea experience as a result of cancer therapy.
And we look forward and one thing additional diary and dialogues and that's where investors and business development concepts and the teacher and set up and online for them for investors, who would like to require access to use the full video lease price 90 minutes a day.
And can you report please visit.
I mean, you are well dot com, so perhaps Jaguar webinars.
And you can find it on our website.
[noise] at Jaguar, and that's leading to the day to our dual strategy affords me and beat you know ex U.S. business development deals to bring in non to move the dollars to fund efforts to cash potential football and the pipeline indications.
Clinical trials, well and simultaneously are working to become a sustainable commercial business and.
I guess I know me by the growth that we're seeing and my pets and sales, where the crime and indication well.
Well, the pandemic and heavily steps and how long dated boot business and that's it.
There's no doubt and Tim I catch a global and we continue to be okay. That's all operations will be imports.
I'm happy to report that the employee headcount Jaguar Minneapolis has remained stable throughout the price of the coke with price it.
And that those national team and I didn't see equalize and sales professionals.
Oh, Oh Oh.
Yep.
Pipeline lives potential supportive cancels and close.
Large patient populations across multiple indications and goes down the line.
And we believe this pipeline will fuel long term value of schools and for investors and.
And non dilutive funding opportunities and potential pipe and cooperation.
Non CKD.
[noise] pipeline exploration work with element and.
And the catch up and get indication as previously mentioned on this call, but this congenital by meals and for this.
Which is a rare indications in full force children and.
<unk> airport and like Dallas disease.
Irritable bowel syndrome.
And and eating habits functional die of war.
And and orphan indications and short bowel syndrome.
Net Boe pipeline and switching and also underway for a second generation and take the Detroit agent left and right, but the pension indication and color over weighted down and yet.
And no continue into preclinical services from the National Institute of allergy and infectious diseases to support and look forward to develop and preclinical development ongoing and I won't go.
We continue of course and be concerned and that the impact of cold and wet only here and the United States. So also on moving parts partners locally and uses communities and Caribbean and with they're showing revenue.
Yeah, and managing their families and parts and meeting with great care and Oh.
The collection of Red bar that from clay talking about any true and latex material from which my Pepsi is extracted and kill side, but.
It's continuing and satisfactory and then as it is essential reported station, where it's no fun and various weekend.
We realized very strongly and I was just moving to deal with the local teams and crew and hmm and powerful and knowledge and.
Additional people have about plans eco system, and not so young and compounds and plan.
Ongoing sources.
Thank you need to be critical in these regions and committed looming and always fully committed to supporting our local language and its partners and we continue to operate in accordance with GAAP <unk> regional and National bundling and midsize line and safety measures.
We are also focus of course and value recognition of Jaguar and that those two and it's a chicken.
And at that and Microsoft and nothing buying makes it tough place to generate back recognition and dedicated keep thinking before I'm thinking and drives value guest and making for the company and also committed to focusing only on non been moving non structured financing and.
And it's actually moving forward.
As the holiday season, and the end of life has anything in <unk>.
And challenging year for the world.
Okay, and they seem to be able to say that 2020 has without question.
Up to I would again that interest to get transformative period for Jaguar and yet, though I am very pleased with all of our kids and thus far this year and.
Cash used to be grateful for the ongoing support and dedication of and clean and stockholder and our local sales.
Partners include and.
And all of our stakeholders everything's moving up it's too close and <unk>.
And possess multiple possible follow on indications for football and there and like whole foods, and and wavelength and focus on patients and.
This concludes our call today. Thank you all for joining he's B C and D well and.
And Peter <unk>, and we have any question that and has been the day.
Colleagues, we have one question from some of the salary and wage how does your player and to regain the $1 minimum price before December 23, 2000 Clinton to comply with that stuff.
Great. Thank you and thank you for the question and as I mentioned, it's a choice moments ago. It's it's it's really challenging environment and.
And Michael cap.
World to get value recognition. Our plan is owned and to continue to build value to continue to focus on sales of like testing kit.
You can't channel to possess the pipeline to follow indication to continue and business development conversations to bringing meaningful non dilutive deal. We have no plans to do and even with the financing snows production financing that's the best we can share.
What the value of the company, we trade at a billion Boe and below and of course, the good values and net sales and looked at comparable company and the United States.
That doesn't get us a dollar and the timeframe that we need to be there and I believe it's 10 day that need to trade over a dollar.
We have filed for shareholder approval to allow us to do and necessary with us but to get US there as we are committed to all whatsoever on and aspect, which is very important for us to go out.
Value recognition.
Are there and the other question Peter.
Oh, that's it for today comes from.
Okay.
And with Oh.
Alright, well, thank you all who have.
I'm joined this call. Thank you all from your interest and Nappo Jaguar and like Pepsi co founder they are new to the company and if it just depends on the Oh, we are going to get back to work for that and that's an important thing that we can do right now.
And that does conclude today's conference. Thank you for your participation.
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