Jaguar Health, Inc.

Clinical/early-stage biotech — near-insolvent.

Strengths

• Liquidity — current ratio 0.5 (10th)

Risks

• Pre-revenue, deep losses — per metrics
• Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
• Binary clinical & funding risk — per 10-K

Notable findings

• No interest coverageInterest coverage -685.19 (cannot cover interest)
• Net lossNet loss (net margin -465.4%)
• Weak liquidityCurrent ratio 0.50 (<1)
• Buying back stockNet buyback — share count -61%/yr over 4y
• Pending mergerOn 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 Nap