Jaguar Animal Health Inc (JAGX) Shares Tumble on Secondary Offering Announcement

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Jaguar Animal Health Inc (NASDAQ:JAGX) shares are down big today after the company announced this morning the pricing of a secondary common stock offering. Under terms of the offering, 2 million shares will be issued to the public at the price of $2.50 per share. This will allow the company to raise an additional $5 million.

This offering is supposed to close on this coming Monday, February 8. The stock is down 20.15% or $0.55 following the news, hitting $2.18 per share. About 120,984 shares traded hands or 208.31% up from the average. jagx has declined 40.39% since June 29, 2015 and is downtrending. It has underperformed the S&P500 by 32.88%.

Jaguar Animal Health, Inc. is a development-stage animal health firm focused on developing and commercializing gastrointestinal products for companion and production animals. The company has a market cap of $17.91 million. The Company’s pipeline of prescription drug product candidates includes Canalevia, species-specific formulations of crofelemer, Virend and species-specific formulations of NP-500. It currently has negative earnings. The Company’s non-prescription products comprises of Neonorm Calf and species-specific formulations of Neonorm.

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