Good day and welcome to the Jaguar Health Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Steve Silver from KCSA Strategic Communications. Please go ahead sir.

Thank you. Before I turn the call over to management I'd like to remind you that management may make forward-looking statements relating to such matters as continued growth prospects for the company, industry trends and product and technology initiatives. These statements are based on currently available information and management's current assumptions, expectations and projections about future events. While management believes that assumptions, expectations and projections are reasonable in view of currently available information, you are cautioned not to place undue reliance on these forward-looking statements. The company's actual results may differ materially from those discussed in this call for a variety of reasons including those described in the forward-looking statements in Risk Factor sections of the company's form 10K and its other filings with the SEC which are available on Jaguar's Investor Relations website At this time, it's my pleasure to turn the call over to Lisa Conte, President and Chief Executive Officer of Jaguar Health. Lisa, the floor is yours.

Thank you, very much and thank you everybody who has called in and I apologize for this slight delay here. We are so pleased to be hosting our first financial update post the merger of Jaguar and Napo to now the combined company Jaguar Health. This a transformative time for us with the commercial forward integration into the revenue stream from sales of Mytesi, our first in class FDA-approved anti-secretory, antidiarrheal agent with a specific indication for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy. By definition, this is a unique call, since there will only be one first post-merger update, therefore I want to address three distinct pieces of information with respect to commercial activity of Mytesi on this call. The first is that our 10-Q, which will be filed in the next days, will represent commercial activity for Mytesi just from August and September of this year since the merger closed on July 31 of this year and the quarter end September 30. However, on the call we will put that in perspective and indicate the sales of Mytesi up for your October 31 just two weeks ago. Second, we analyze our operations based on growth sales, growth sales are defined as an order placed from the wholesaler and product that moves out of our warehouse. This is also the activity upon which we receive cash, which is important event. Growth sales are distinct from GAAP accounting net sales that we report in our 10-Q, which is the movement of product from the whole the wholesaler to retail include trade discounts, rebates etcetera. So, for clarity, our warehouse 2 for example Cardinal that is growth sales, are aware for example that is growth cells that's where we get our cash. Cardinal 2…

Thank you, Lisa and good afternoon, everyone. My name is Pete Riojas and I'm excited to be here. I bring 30 years of industry experience not only in sales, but marketing, operations and senior management. I have a pharmacy background and really am excited to bring value to this organization and more specifically to this patient base in selling this quality product Mytesi. Joining Napo Pharmaceuticals Jaguar Health on August 21 was truly exciting for me, bringing the 30 years of industry experience along with building a sales team I will provide value to Napo and Jaguar Health. I was given the task to hire a team within a month, achieve that and how we've had seven reps in the field since the second week of October, I hired the five team members. Three of them as was mentioned by Lisa have over 40 years of combined experience in the HIV arena as well as those three team members, the balance two, have a combined 17 years of experience in gastroenterology. The team initially started calling on infectious disease physicians as well as family practitioners and general practitioner physicians seeing these HIV patients. The team has now expanded into gastroenterology to the impact the HIV community patient. What was identified in gastroenterology along with these patients suffering from a condition that Mytesi, based on this immediate beneficial impact, we saw and I wanted to build the momentum that was requested by these three more team members, but more importantly having the ability to increase our sales force we were granted the ability to increase our team members by three. That request was granted as well as effective as November 27 we will have 10 full-time territory managers in key markets to act, access impact our business effectively. The key markets…

Thanks Steve. Okay Katie, off to you.

Okay. Thank you very much and like Pete, my name is Katie McFarland and like Pete I also am a pharmacist and we've now been working with Napo and Jaguar for little over a year since the reacquisition of Crofelemer by Napo. My background, I have been in the pharmaceutical industry for over 25 years, 20 of that has been spent in marketing, primarily responsible for preapproval marketing as well as product launch and so I've been involved some very large product launches such as Lipitor and Celexa as well and specialty launches of Lectern 24 and we're very pleased now to be taking Mytesi through really what is the official Napo launch of the product for the treatment at HIV-related diarrhea. So, I am pleased to share an overview of the marketing activity for Mytesi. This marketing activity is designed to raise awareness and usage of Mytesi through three major tactical plans. Number one is to support our sales representatives and Pete's team with controlling materials that they can use when they're calling on kitty targets in their territories. Two we're informing HIV specialists and other healthcare petitioners who see HIV patients in uncovered geography through nonpersonal promotion and three, identifying and activating people living with HIV, the patient who suffer from diarrhea to ask their patient for treatment of Mytesi. So, in order to make all this come about and to develop the controlling materials for Mytesi, we've done extensive work to compile data to best communicate the effectiveness of Mytesi as well as the need for this product amongst HIV patients. We performed an analysis of the long-term data from the Advent trial. This was submitted by the investigators as an abstract and presented this past July at the International Aids Society Meeting in Paris. Among the…

Good morning, Katie. And yeah, let me just underscore incredibly rewarding it is to work in this particular community and have such direct access to the patients who are so motivated and Mytesi as in my secretory agent is basic normalizing mechanism of action that gives it an opportunity for any follow-on indications in the gastrointestinal area. So, Dr. Pravin Chaturvedi, Pravin, are you on the phone right now? Are you on the phone?

I am at the airport and I am in a noisy zone. So, thank you, I'll talk.

And Pravin who has developed many, many drugs and how many people in the pharmaceutical industry can say that is the developer of Mytesi. He negotiated the spa for the pivotal trial, the Advent trial that got Mytesi approved this first indication. So, Pravin I'll let you talk about this pipeline and the product.

Thank you, Lisa and good afternoon, everyone. My name is Pravin Chaturvedi. I am the Chair of the Scientific Advisory Board and by training I have degrees in pharmacy as well as neuropharmacology and I've been in the industry for nearly 30 years and been associated with the development of drug Crofelemer is one of my latest drugs and it's so important to have this drug made available to HIV patient, because the patients now are ageing and have several comorbidities that actually affect the general ageing population as well and with the use of antiretroviral therapy, we've had good control of viral loads and have improved T-cell account status but the comorbidities continue to exists and these are particularly affecting gastrointestinal tract and cardiac, liver, metabolic disorders such as diabetes and CNS. And in fact, gastrointestinal adverse events as Katie mentioned like diarrhea are actually the single highest factor for this drug configuration and patient in the patient population. When we did the pivotal trial with crofelemer, that at least are referred to, we did it in HIV patients for receiving antiretroviral therapy as well as some of those patients had diarrhea from unrelated issues to the therapeutic regimen and we now understand that that has to do with HIV enteropathy and that is a condition that affects HIV patients. And these patients have HIV enteropathy is and when they are undetectable and they are viral loads are completely suppressed. The patient survey report also indicate that about 25% of the patients have chronic diarrhea, some of which maybe atrophic enteropathy and so [crofelemer] is important to all these HIV patients that have diarrhea as there are no other approved treatment for chronic diarrhea and the patient have usually exhausted their limited options such as OTC blood and Lomotil,…

Thanks Pravin and thanks for accommodating while you were in the airport. And now I am going to turn it over to Karen Wright and Karen is going to talk about the financial GAAP reporting.

Yes, I would like to review the GAAP revenue results as distinct from the operational gross sales Lisa discussed earlier, which the company uses to analyze for commercial activity and goal achievement. So, I will be discussing the third quarter 2017 and for the nine months ended September 30, 2017. As Lisa stated, the third quarter of 2017 was the first month Jaguar Health Inc. reported consolidated human and animal revenue in their financial results. Since the merger between Jaguar Animal Health and Napo Pharmaceuticals was effective July 31, 2017, there are only two of human revenue results being included in the third quarter 2017 and the nine months hereto date financial statement. The company's human product revenue is for Mytesi and the company's animal product revenue is [indiscernible] and has collaboration revenue included. GAAP revenue results for the third quarter ended September 30, total net revenue for the third quarter of 2017 was $1.1 million comprised of $346,000 Mytesi dollars and Mytesi product revenue, in $82,000 of Neonorm product revenue and $655,000 of collaboration income. Total net revenues for the third quarter of 2016 was $50,000 comprised solely of Neonorm product. Quarter-over-quarter total 2017 revenue was $1 million higher than 2016. Total net revenue for the nine months ending September 30, 2017 was $2.8 million comprised of $346,000 in Mytesi product revenue $236,000 of Neonorm product revenue and $2.2 million of collaboration revenue. Total net revenue from the nine months ended 2016 was $13,000 consisting only of Neonorm revenue, which was $123,000 lower than the same period in 2017. Total revenue for the nine months ending September 30, 2017 was $2.7 million higher than the same period in 2016 due to additional Mytesi revenue and collaboration revenue. I'd like to return it back over to Lisa now.

Thank you, Karen and just some terminology Crofelemer which you heard then referred to as the generic name of Mytesi, the pharmaceutical agreement ingredient in Mytesi and I want to thank you for listening and accommodating. We are thrilled to be commercializing Mytesi. It's the result of many, many years of labor. Many, many years of risk based pharmaceutical development and it's really wonderful to be talking about a commercial activity and helping patients directly. To recap, I'd like to repeat the two important numbers from today, the two takeaway, total Mytesi growth sales for 2017 through October 30, 2017 are $2.8 million and average monthly sales of Mytesi has increased 50% from August through October 30 of this year versus the first seven months of the year January through July, coincident with the marketing and sales activity that we were able to put on marketing for the past three months, sales just for three weeks in October. Thank you very much for listening and we're looking forward to having calls like this on a quarterly basis. Good night.

That does conclude our conference for today. Thank you for your participation.