Jaguar Animal Health Inc. (NASDAQ: JAGX) has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding a secondary offering. The offering is for roughly 6.67 million shares. Of these shares, 1.67 million are outstanding shares of common stock held by the selling stockholders and 5.00 million are shares of common stock issuable upon the exercise of warrants held by the selling stockholders. The price will be determined by the prevailing market price for shares. The most recent closing price was $0.70 per share.

Currently, no underwriters are listed for the offering.

This animal health company is focused on developing and commercializing first-in-class gastrointestinal products for companion and production animals and high value horses. Canalevia is its lead prescription drug product candidate for the treatment of various forms of diarrhea in dogs. The company achieved statistically significant results in a canine proof-of-concept study completed in February 2015. As Jaguar announced in December 2015, the pivotal clinical field study to evaluate the safety and effectiveness of Canalevia for acute diarrhea in dogs is underway.

Since inception, the company has been primarily focused on designing and conducting studies of Canalevia to treat diarrhea in dogs and of Neonorm to help retain fluid in calves and to function as an anti-diarrheal in foals. Jaguar is also focused on developing a full suite of equine products to support and improve gastrointestinal health in foals and adult horses.

Gastrointestinal conditions such as acute diarrhea, ulcers and diarrhea associated with acute colitis can be extremely debilitating for horses, and present a significant economic and emotional burden for veterinarians and owners around the world. A portion of the company’s activities has also been focused on other efforts associated with being a recently formed company, including securing necessary intellectual property, recruiting management and key employees,and financing activities.

The company will not receive any proceeds from the offering.

Shares of Jaguar were trading up about 4% at $0.67 on Thursday, with a consensus analyst price target of $3.00 and a 52-week trading range of $0.64 to $4.60.

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