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Lisa Conté; President, Chief Executive Officer, Director; Jaguar Health Inc.
Carol Lizak; Cfo; Jaguar Health Inc.
Massimo Mineo; President; Jaguar Health Inc.
Operator
Before turning the call over to control, I would like to remind you that control would likely make forward-looking statements related to topics such as the continued growth of the Company’s customers, uncertainties related to the acceptance of the market position and products, the effect on competitive products and prices. Group industry trends and manufacturing initiatives, adding products in the progression phase, which may not meet clinical objectives or meet strict regulatory requirements. Forward-looking statements are subject to risks and uncertainties that may also cause actual effects to differ materially from those contemplated by such forward-looking statements. These statements are based on existing data and control assumptions, expectations and projections related to long-term events. Although Control believes that its assumptions, expectations and projections are based on existing data, you are cautioned not to place undue reliance on such forward-looking statements. The Company’s actual effects would likely differ materially from those discussed in this webcast for a variety of reasons, adding to those described in the Forward-Looking Statements and Risk Factors segments of the Company’s 2023 Form 10K, which was filed in April. January 1, 2024 and its other SEC filings, which can be found in the Investor Relations segment of Jaguar’s website. Unless required by law. Jaguar assumes no legal responsibility to update or revise any forward-looking statements contained in this presentation. To reflect new data, long-term events or the like. Additionally, please note that the Company supplements its condensed consolidated monetary statements presented on a GAAP basis by offering non-GAAP EBITDA and non-GAAP recurring EBITDA. Jaguar believes that the disclosures in those non-GAAP measures provide investors with more data that reflects the basis on which the company’s control evaluates and operates the business. These non-GAAP monetary measures deserve to be considered in isolation or as substitutes for GAAP net sales and GAAP net losses. They do not reposition or support GAAP monetary functionality measures. Today’s convention is recorded. And right now I’m excited to turn the call over to Lisa Conte, Jaguar Health founder, president and CEO. Lisa, the land is yours.
Lisa Conte
Carole Lizak
Today is a humbling day that reminds me of my first day in the pharmaceutical industry many years ago, more than 35 years ago. Like many of you, I had a choice of where to come and I can’t meet here because Jaguar Health and the new treatments are the most productive opportunities for me. I mean, of course, we do things with our reserves, our programs, our products, our values and our expertise to ultimately make the award a better place for our patients and their families. In speaking with our CEO, Lisa, I knew there was no better company to join if I was looking to make a difference in the quality of life for our patients with the same inspiration that continues to drive me today. today. It is a great honor for me to serve this company and to dedicate, through my pharmacological and clinical experience, more time to the company, focusing on new curative solutions, namely orphan drugs, products and technologies and cutting-edge specialty pharmaceuticals, and in Combined with them with my foreign mix, my advertising delights to expand the geographical presence in Joe, what’s happening in the world? We will have to be angry to do more and more. I’m still very angry that I’m doing more. In my long experience I have learned that pharmaceutical biotechnology companies do not respect tradition. Companies only have innovation, genuine innovation (technical difficulty)
Lisa Conté
We will now hear from Massimo Mineo for his astonishing statements and incredible contribution. Again, we are grateful for their involvement, which is already making a very, very significant difference in delivering products to patients. I have an echo of that in the making of The Mission of Jaguar and Crofelemer. So now I’m giving you the floor to share the monetary highlights of the fourth quarter and in line with our K presentation today.
Massimo Mineo
Well, thank you Lisa and thank you all for joining our webcast today. I will begin my review of our financials for the fourth quarter of 2023. Net sales of prescription products were approximately $9. 7 million for the full year 2023, representing a decrease of approximately 18% compared to the combined prescription product . Net profit source in 2022, which is approximately $11. 9 million. Combined prescription drug net income was approximately $2. 3 million in the fourth quarter of 2023, representing an 18% decrease from combined prescription drug net income in the third quarter of 2023, which was approximately $2. 8 million and a reduction of approximately 30% of the combined profit. prescription net profit in the fourth quarter of 2022, which in total amounted to approximately $3. 3 million. Mytesi’s overall prescription volume decreased approximately 4% in 2023 compared to 2022. Mytesi’s prescription volume increased approximately 1% in the fourth quarter of 2023 compared to the third quarter of 2023, decreased approximately 4% % in Q4 2023. During Q4 2022. Prescription volume differs from invoice sales volume reflecting, among other factors, other purchasing behaviors among closed network specialty pharmacies in the way they They manage their stock points. Operating loss was minimized by $100,000, from $34. 4 million in 2022 to $34. 3 million in 2023, which included an intangible asset impairment loss of approximately $400,000. Non-GAAP recurring EBITDA for 2023 and 2022 represented a loss net of $34. 5 million and $27. 4 million, respectively. Net loss attributable to regular shareholders was minimized by approximately $6. 2 million in 2023, from $47. 5 million in 2022 to $41. 3 million in 2023. This concludes my high-level financial point summary for the fourth quarter of 2023. I will now return to the discussion. to Lisa. countries.
Lisa Conté
Thank you Carol, tonight I would like to conclude this call by saying again, reiterating that Jaguar, Napo’s family circle of companies, is very motivated by important and short-term initiatives. Thank you. All this to join us. Thank you for helping our project to improve the quality of life. The effects of the Dignity treatment have many people in need around the world, and in particular, lately we are focusing on the side effects associated with cancer treatment. We’ll finish our webcast in that time. We got one less video that we’re going to play for you. The video of Jaguar team members talking about what therapeutic cancer care means to them and, again, where multiple virtual channels will be launched, and we look forward to having an interactive verbal exchange with those who discuss this topic. Thank you all very much. (video playback).