Benzinga | Mar 8, 2021 12:09PM EST

Why Are Jaguar Health Shares Surging Today?

* Continuing Friday's rally, Jaguar Health Inc (NASDAQ: JAGX) stock has surged on Monday as the investors react to the news of its third royalty financing agreement announced on Friday.

* The company entered a binding term sheet for $5 million a royalty interest in future potential crofelemer (Mytesi) sales for the proposed COVID-related indication in long-hauler patients.

* JAGX is currently pursuing conditional marketing authorization in the European Union.

* This financing follows two royalty transactions, including $5 million announced in October and $6 million finalized in December.

* Price Action: On the last check, JAGX surged 48.8% at $2.39 in market trading hours.