aibioJaguar Health amends Streeterville and Uptown royalty deals and extends a note to October
Tickers JAGX
Jaguar Health's monthly royalty minimums of $750,000.00 now start October 1, 2026 under both royalty interests, and a Streeterville note matures October 1, 2026 instead of July 1. Streeterville also received common stock for Series Q preferred shares.
Key facts
- Company
- Jaguar Health, Inc. (NASDAQ: JAGX)
- News type
- Debt Financing
- Primary source
- SEC Form 8-K
The two royalty interests
Jaguar Health, Inc. (Nasdaq: JAGX) signed amendments on June 17, 2026 to two royalty interests and a secured note, according to a Form 8-K filed June 18, 2026. Each royalty interest has an original principal amount of $12 million. One is with Uptown Capital, LLC, formerly Irving Park Capital, LLC. The other, dated August 24, 2022, is with Streeterville Capital, LLC.
Under the Uptown amendment, beginning October 1, 2026 the monthly royalty payment is the greater of $750,000.00 and the amount actually owed for that month. Under the Streeterville amendment, monthly payments that were due to start July 1, 2026 now start October 1, 2026, with the same $750,000.00 minimum.
The 8-K describes the amendments as replacing the payment sections of each royalty interest, but it does not say what drove the change. The exhibit labels show this is the fifth global amendment to each royalty interest, and the fourth amendment to the 2021 note. The 8-K does not summarize the earlier changes.
The Streeterville note
Jaguar and its wholly owned subsidiary Napo Pharmaceuticals, Inc., together the borrower, also amended a secured promissory note issued to Streeterville on January 19, 2021. Its original principal amount was $6,220,812.50. The maturity date moved from July 1, 2026 to October 1, 2026.
Both Streeterville changes move a July 1, 2026 date to October 1, 2026. The filing names no placement agent or advisor for these transactions, and it names no counsel.
Preferred exchanges and share issuance
Streeterville bought 408 shares of Series Q perpetual preferred stock from Jaguar on May 19, 2026, in two privately negotiated exchanges. Jaguar then issued common stock to Streeterville in exchange for Series Q preferred shares in three further transactions. On June 9, 2026 it issued 34,798 common shares for 3.8 preferred shares. On June 17 it issued 36,796 common shares for 3.4 preferred shares. On June 18 it issued 38,655 common shares for 3.68 preferred shares.
The June 17 exchange, combined with the June 9 exchange, took total issuance above 5% of the company's outstanding common stock, based on the figure in its quarterly report filed May 20, 2026. Each exchanged preferred block was cancelled and retired.
Business and finances
Jaguar works with its subsidiary Napo on drugs derived from plants for complicated gastrointestinal disease. Napo's crofelemer, sold as Mytesi, is FDA-approved for noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy. The annual report says that in January 2026 Napo entered a United States licensing agreement with an affiliate of privately held Future Pak, LLC. Jaguar also has a joint venture, Magdalena Biosciences, with Filament Health Corp. for plant-derived mental health medicines. The company's annual report, filed April 7, 2026, says Napo is developing new therapies for orphan and rare GI conditions. The annual report passage cited here gives no clinical data for those programs.
Revenue was $11.5 million in 2025, against $11.7 million in 2024. Research and development expense rose to $25.0 million from $16.5 million. The net loss widened to $53.6 million from $38.5 million. Cash used in operations fell to $23.7 million from $29.4 million.
At the end of 2024 the company reported $8.0 million in cash and cash equivalents. Each royalty interest carries a $750,000.00 monthly minimum from October 1, 2026, set against a net loss of $53.6 million and cash used in operations of $23.7 million in 2025.