Dilution profile // every instrument, one screen, from SEC filings

Jaguar Health, Inc. (JAGX)

CIK 1585608 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$108M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
registered capacity, not remaining: amounts already taken down are not subtracted yet
Overhead supply
LOWwarrants = 0% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
HIGH+2010% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
HIGH~3.7 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)
the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2015-06-262018-05-15

Latest: 171.4M shares as of May 15, 2018 (10-Q).

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool

Warrants

TrancheWarrantsExercise priceTermNotes
Pre Funded Warrants336,465$0.035
Fourth Pre-Funded Warrants92,855not tagged
Fifth Pre-Funded Warrants82,014not tagged
Sixth Pre-Funded Warrants64,879not tagged
First Pre-Funded Warrants44,396not tagged
Second Pre-Funded Warrants31,767not tagged
New Warrants26,531not tagged
Replacement Notes Warrants26,531$94.5
Third Pre-Funded Warrants20,555not tagged
Warrant Shares17,788$35
Common and Wainwright Warrants14,075$204.4
January Two Thousand Twenty Six Warrants10,000$355y

Tranches exactly as the company dimensioned them in its 10-Q filed May 20, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 278,744 underlying shares, as reported Mar 31, 2026 (10-Q).

Reported exercise price: $0.001 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $1,000 as of Mar 31, 2022.

Rough fully diluted estimate: 171.6M = 171.4M O/S + 278,744 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
March 2025 Convertible Notes$3.4M$193.73~17,550 sh
Replacement Notes$2.6M$193.73~13,421 sh

If every note above converted at its tagged price: ~30,971 new shares on 171.4M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed May 20, 2026. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding171.4MMay 15, 2018
+ Pre Funded Warrants (if exercised)336,465Jan 16, 2026
+ Fourth Pre-Funded Warrants (if exercised)92,855Jan 16, 2026
+ Fifth Pre-Funded Warrants (if exercised)82,014Jan 16, 2026
+ Sixth Pre-Funded Warrants (if exercised)64,879Jan 16, 2026
+ First Pre-Funded Warrants (if exercised)44,396Jan 16, 2026
+ Second Pre-Funded Warrants (if exercised)31,767Jan 16, 2026
+ New Warrants (if exercised)26,531Jun 24, 2025
+ Replacement Notes Warrants (if exercised)26,531Jun 24, 2025
+ Third Pre-Funded Warrants (if exercised)20,555Jan 16, 2026
+ Warrant Shares (if exercised)17,788Mar 31, 2025
+ Common and Wainwright Warrants (if exercised)14,075May 20, 2025
+ January Two Thousand Twenty Six Warrants (if exercised)10,000Jan 6, 2026
+ March 2025 Convertible Notes (if fully converted)17,550Mar 31, 2025
+ Replacement Notes (if fully converted)13,421Jun 24, 2025
Fully diluted estimate172.1M+0.5% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $107.9Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Jul 16, 2026$89.8M registeredfiling →
S-1Jul 16, 2026$12.1M registeredfiling →
S-3Oct 3, 2025$6.0M registeredfiling →

Last 12 months: 13 executed · 4 registered.

UPDATEJul 27, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
UPDATEJul 27, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
REGISTEREDJul 24, 2026S-1/A registration — capacity to sell shares, not a sale yetS-1/A
EFFECTIVEJul 24, 2026SEC declared a registration effective — selling can beginEFFECT
EFFECTIVEJul 24, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJul 16, 2026S-1 registration — capacity to sell shares, not a sale yetS-1
REGISTEREDJul 16, 2026S-1 registration — capacity to sell shares, not a sale yetS-1
EXECUTEDJun 18, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJun 11, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJun 2, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMay 19, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJan 23, 2026Unregistered share sale disclosed (8-K item 3.02)8-K

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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