Jaguar Health, Inc. Q2 FY2025 earnings call

• Jaguar Health's combined net revenue for Q2 2025 increased vs prior quarters.
• 2025 is the year of convergence of key clinical and regulatory catalysts for crofelemer.
• Initial proof-of-concept results from an investigator-initiated study in pediatric MVID and SBS-IF patients showed crofelemer reduced TPN and fluids.
• Conducting 2 placebo-controlled Phase II trials for crofelemer: one for pediatric MVID in U.S., EU, MENA and one for adult SBS-IF in U.S. and EU.
• For cancer therapy-related diarrhea, completed a global Phase III study; breast cancer subgroup results were significant. Preparing to submit a protocol for a pivotal treatment trial in metastatic breast cancer. Intend to request orphan drug designation for crofelemer in this population.
• Animal Health side: Focus on Canalevia for dogs, aiming to identify a partner to obtain EU approval, maintain U.S. availability, and expand indication to general diarrhea in dogs and other companion animals.

Combined net second quarter 2025 revenue was approximately $3 million for prescription and nonprescription products, including license revenue. This increased approximately 35% versus net Q1 2025 revenue of approximately $2.2 million and approximately 10% versus net Q2 2024 revenue of approximately $2.7 million. Mytesi prescription volume increased by approximately 6.5% in Q2 2025 over Q1 2025, and was equal to the volume in Q2 2024. Loss from operations increased from $7.2 million in Q2 2024 to $8 million in Q2 2025. Non-GAAP recurring EBITDA for Q2 2025 was a net loss of $7.9 million compared to a net loss of $8.8 million in Q2 2024. Net loss attributable to common shareholders increased from $9.5 million in Q2 2024 to $10.4 million in Q2 2025.

• Seeking business development partnerships for licensed rights to develop and commercialize Jaguar's products.
• Expect catalysts to bring in significant nondilutive dollars from business collaborations and licensing deals.
• Anticipate results from Phase II trials for crofelemer in first half of 2026.
• Intend to announce orphan drug designation application for crofelemer in metastatic breast cancer population when completed.

• Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.
• Non-GAAP financial measures should not be viewed in isolation or as substitutes for GAAP measures.