Jaguar Health Retreats After Tuesday Surge; Reverse Split, FDA Fee Waiver in Focus

Shares of Jaguar Health Inc. (JAGX) fell on Wednesday, Sept. 23, 2026, retreating from a rally a day earlier driven by an FDA fee waiver for its Napo Pharmaceuticals unit. The FDA granted Napo's request to waive the Prescription Drug User Fee Act (PDUFA) fee for Mytesi (crofelemer), the company said on Tuesday, Sept. 22, 2026. The waiver reduces a regulatory cost tied to the drug's review process. Investors are also weighing a previously announced reverse stock split, a move often used to regain compliance with exchange listing requirements. Jaguar Health did not disclose the dollar value of the waived fee. Trading remained volatile following the prior session's gains.