Monitor for prospectus supplements that would indicate actual takedowns under the shelf. The company's history of repeated ATM and registered direct offerings suggests near-term selling is likely. Watch for Streeterville-related conversions and any 8-K filings reporting pricing of offerings.
Price Chart
Executive Summary
Jaguar Health filed a new S-3 shelf registration to register up to $75 million of securities, replacing its prior shelf (File No. 333-278861) and carrying forward $41.6 million in unsold securities. The filing signals ongoing capital needs for a pre-revenue biotech with a going-concern audit opinion, consistent with the company's pattern of repeated equity raises and debt-to-equity exchanges with Streeterville Capital and other investors.
Key Financial Metrics
Key Facts
- S-3 registers up to $75,000,000 of common stock, preferred stock, warrants, subscription rights, and units
- Carries forward $41,559,118.01 in unsold securities from prior S-3 (File No. 333-278861) under Rule 415(a)(6)
- New securities registered total $33,440,881.99 with a filing fee of $2,909.36
- As of the prospectus date, only 2,323,373 shares of voting common stock outstanding
- Last reported sale price on October 21, 2026 was $2.28 per share
- Auditor's report includes a going-concern explanatory paragraph (per Exhibit 23.1 consent)
- Proceeds to be used for working capital, R&D, and general corporate purposes
- Recent debt-to-equity exchanges with Streeterville Capital and LAS converted over $10.3M in notes into common stock
Financial Impact
Up to $75M in potential dilution at current market cap of approximately $5.3M (2.32M shares × $2.28) — representing over 14x the current market cap in registered securities
Risk Factors
- Massive potential dilution: $75M shelf is ~14x current market cap of ~$5.3M
- Going-concern qualification in audit opinion indicates existential capital risk
- History of dilutive debt-to-equity exchanges with Streeterville Capital
- Pre-revenue biotech with no disclosed revenue figures in the filing
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-3 Filing (Primary) | 0001193125-26-429100 |
| Document: d169519dexfilingfees.htm | 0001193125-26-429100 |
| Document: d169519dex51.htm | 0001193125-26-429100 |
| Document: d169519dex231.htm | 0001193125-26-429100 |
| Document: 0001193125-26-429100-index-headers.html | 0001193125-26-429100 |
| Document: 0001193125-26-429100-index.html | 0001193125-26-429100 |
| Document: 0001193125-26-429100.txt | 0001193125-26-429100 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | S-3 | $2.04 | awaiting T+60 | — | $2.18 (−6.86%) |
Oct 8, 2026 18d ago | DEF 14A | $4.79 | awaiting T+60 | — | $2.18 (+54.49%) |
Oct 5, 2026 22d ago | 8-K | $4.73 | awaiting T+60 | — | $2.18 (+53.91%) |
Sep 28, 2026 29d ago | 8-K | $6.02 | awaiting T+60 | — | $2.18 (+63.79%) |
Sep 24, 2026 4w ago | SC 13G/A | $7.70 | awaiting T+60 | — | $2.18 (+71.69%) |
Sep 24, 2026 4w ago | 424B5 | $7.06 | awaiting T+60 | — | $2.18 (+69.12%) |
Sep 24, 2026 4w ago | 8-K | $7.06 | awaiting T+60 | — | $2.18 (+69.12%) |
Sep 21, 2026 5w ago | 8-K | $34.46 | awaiting T+60 | — | $2.18 (−93.67%) |
Sep 15, 2026 5w ago | 8-K | $0.2246 | awaiting T+60 | — | $2.18 (−870.61%) |
Sep 3, 2026 7w ago | 424B5 | $10.41 | awaiting T+60 | — | $2.18 (+79.06%) |
US Market Status
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