JAGX · Jaguar Health, Inc.

Jaguar Health, Inc. disclosed in its 10-K a significant stockholders’ deficit of $18.7 million as of December 31, 2025, breaching Nasdaq Capital Market Rule 5550(b)(1)'s $2.5 million minimum equity requirement, which risked potential delisting. This 8-K update details post-period inflows totaling over $26 million, primarily non-dilutive, that the company believes restored compliance by April 7, 2026. Key contributors include a $16.0 million license payment from the January 12, 2026 License Agreement involving subsidiary Napo, affiliates Woodward and Future Pak; $3.0 million from Napo after buy-back termination; $1.0 million inventory purchase under the Supply Agreement; anticipated $2.0 million upon Third Party Replacement MSA Conditions and $1.2 million from Mytesi Firm Order sales; plus $0.2 million early 2026 Mytesi sales, $0.2 million grant, and $3.4 million gain on affiliate debt extinguishment. Investors should note the forward-looking nature of the equity assertion, with risks detailed in the 10-K's MD&A and other SEC filings, but this development averts immediate listing concerns and signals improved financial position without equity dilution.