Corporate finance, strategic advisory, and related services to public and private companies across multiple sectors and regions. We're confident we're gonna be able to provide value to you with over 600 companies presenting at this conference in multiple sector tracks devoted to life sciences, cryptocurrency, blockchain, and much more. With that said, please welcome Ms. Lisa Conte, founder and CEO of Jaguar Health, a biopharmaceutical company committed to discovering, developing, and commercializing plant-based prescription medicines for urgent global health needs. Ms. Conte?
Thank you. Thank you, Eduardo. Thank you for inviting me to speak at this conference. I want you to know, every investor I've spoken to in the past month has said, "Are you going to H.C. Wainwright?" So everybody goes to H.C. Wainwright. So this is a wonderful time to be talking about Jaguar. We have some important catalysts coming up, so I will go through them. Forward-looking statements, of course, we are a public company trading on Nasdaq under JAGX. So as you mentioned, we are a plant-based company, and that is our basic enabling technology, leveraging the knowledge of traditional healers and shamans working in the field. And we did take a product all the way from a tree growing in the rainforest to a first-in-class, FDA-approved anti-secretory agent. The active agent is known as Crofelemer.
The trade name of the approved drug is Mytesi, and this is for HIV-related diarrhea. I do wanna say that this is natural, plant-based, sustainably harvested, organic, fair trade, and it is an FDA-approved drug, and it's the only oral drug that's approved by the FDA under botanical guidance. Under botanical guidance, there is no practical pathway to bring a generic to market. Even though we have the same patent strategy of any pharmaceutical company, we have a hundred and sixty or so patents issued, more being filed all the time, we don't face that patent cliff. We essentially have exclusivity to infinity and beyond because of the nature of the botanical approval. We had our earnings release last week, and I want to focus on three categories of robustness: financial, clinical product development, and commercial.
So first, on the financial side, what we commercialize now is Mytesi for the first approved indication. It's HIV-related diarrhea, which is a specialty market. Another word for specialty on the financial side is it's relatively small. It was fast-tracked, priority reviewed by the FDA, and that's one of the reasons why it's our first indication. And our net revenue increased about 16%, second quarter of two thousand and twenty-four, over the first quarter, so that was a nice robustness. It was about $2.7 million. Ultimately, we think the total market for this indication in the United States is not more than $20 million-$30 million. However, what this has allowed us to do is take a paradigm-shifting mechanism of action, a new way of treating, prophylaxing, potentially curing gastrointestinal disorders, and work on messaging.
What is the best way to educate and to promote healthcare providers, payers, patients who are focused not only on the outcomes of their disease, their ability to stay on their life-saving medications, but their dignity and their quality of life? What's very interesting is these sales are $2.7 million... Almost all of it is from Mytesi for HIV. There is a small portion that comes from our animal health business. We do have Crofelemer conditionally approved by the Center for Veterinary Medicine for chemotherapy-induced diarrhea in dogs. And so, interesting situation in the United States right now, if you are a dog with cancer and chemotherapy-induced diarrhea, you can receive a prescription for Crofelemer. On the human side, not yet, and not yet. Let me get to the robustness of the clinical pipeline.
A couple of weeks ago, we announced the results from a pivotal phase III clinical trial for cancer therapy-related diarrhea. It was a five-year or so clinical effort. We had COVID in the middle of that, and a very ambitious, broad, and bold study. What does that mean? The enrollment criteria allowed for prophylaxis treatment of all patients with solid tumors. That ended up being 10 different tumor types, 24 different targeted agents, with or without cytotoxic chemotherapy. So a great diversity of patients trying to capture as much benefit as we could for as many populations as possible. We did not hit the primary endpoint. However, in two of the largest subpopulations, which were prospectively defined, breast cancer patients and lung cancer patients, we did see a signal in... And this is where I'm gonna come back to the robustness, in what is called a responder analysis.
Responder, very top-line definition, is a proportion of patients, more patients responding, benefiting, having formed stool than those who are not. The trial that led to the approval for the current HIV indication was a responder analysis. We have four studies in IBS patients, two phase two studies that were done quite some time ago, and two that recently were investigator-initiated trials, one from Harvard University, one from University of Texas, that have both been received for poster presentations at the upcoming American College of Gastroenterology meeting, which I believe is September or October of this year in Philadelphia. Those were responder analysis. Where we're seeing the signals in the subpopulations of the OnTarget trial, that's the name of the cancer therapy-related diarrhea trial, is with a responder analysis. So what our goal is here, our objective at this point, is to fully flesh out the analysis within these subpopulations.
For example, primary endpoint was at the end of three months. However, patients could choose to continue on for another three months, and over 65% of the patients did, and they had to stay on whatever they were on in a blinded sense, Crofelemer or placebo. That data is still being analyzed. Bring this to our scientific advisory members, talk about the clinical relevance of this, pull together a briefing package, and then go to the FDA and talk about the benefit, risk, and how can we, as efficiently as possible, get Crofelemer to patients in need, and in particular, in these two subpopulations. In dozens of clinical trials, we have never seen a side effect profile of Crofelemer different than placebo. A decade on the market, we have no serious adverse events.
That is likely due to the fact that Crofelemer is locally acting in the gut. Take it orally, Mytesi is a pill, goes into the intestine, does its thing, normalizes gut function, and then out it goes. So you don't have risk to interfere with meds, and in fact, you wanna give them an opportunity by managing the side effect to allow them to stay on their life-saving meds and have an impact on the outcome of their cancer. 40% of cancer patients, for example, go off their cancer therapy very specifically because of the side effect of diarrhea, either go off or go to a subtherapeutic dose.
So in this robustness of the clinical development pipeline, Crofelemer is a classic pipeline within a product, and we do have orphan drug designation for two rare diseases, short bowel syndrome, intestinal failure, and a congenital diarrheal disease called MVID, microvillus inclusion disease, which is an intestinal failure situation. So these are patients who don't have enough surface area or aren't able to absorb their nutrients of life, proteins, carbs, vitamin, et cetera. And so they end up on parenteral nutrition up to 20 hours a day, 7 days a week. Absolutely catastrophic health care-wise, quality of life. For infants with a congenital intestinal failure, they often don't survive past childhood, early teenage years. The only thing that's out there now is a GLP-2 analog, so it's a growth hormone, not considered standard of care.
The only thing that's in the development pipeline other than Crofelemer are other ways of new formulations of a growth hormone. Has to be injected, maybe a little bit longer lasting, so you don't have to inject it every day, maybe a little bit less irritation at the injection site, but we haven't seen anything from speaking to our KOLs or looking at published clinical trials that changes the activity. The limitation, among other limitations, like side effects of a growth hormone, is that it can't be used in a cancer patient or a patient at risk of cancer or anybody with abnormal growth situation. Also, patients who have had surgery, they need to have their bowels adapt after surgery, 15-18 months. Again, a growth hormone can't be used.
What Crofelemer provides with this anti-secretory mechanism of action is an opportunity for the patients to perhaps lower the secretions and have a little bit more time to do their own absorption of the nutrients of life and perhaps get off of parenteral nutrition 15%-20% of the time, which is the regulatory endpoint that has led to the approval, for example, of the GLP-2 analogs with the limitations that they have, so a regulatory endpoint. But with greater safety, less limitations, could be used in any type of cancer patient, could even be used with or without a growth hormone approach as well. In the rare disease area, these are the very near-term clinical pipeline catalysts.
We have five clinical efforts going on right now, three investigator-initiated efforts, which lead to proof of concept before the end of two thousand and twenty-four. There's three of them, so some into the beginning of two thousand and twenty-five, and two global phase 2 trials that will be enrolling before the end of the year, one for MVID and one for short bowel syndrome with intestinal failure. In Europe, with published proof of concept data and phase 2 data, there's an opportunity for reimbursed early patient access while the product is going through full development for an unmet need, like an orphaned rare disease indication. For that reason, among others, we do have a footprint in Italy, staffed specifically with those who have experience and expertise in bringing about early patient access.
So with regulatory and clinical activities at the end of this year and next year, leading to the opportunity of early revenue generation, but more important than that, patients having the access to this novel mechanism of action for an absolutely catastrophic situation. Third parties have put the intestinal failure market at about $5 billion-$12 billion, depending on who you're looking at. It's a classic business model with a small population, high mortality, high morbidity, high expense, high patient family activism. And in this case, Crofelemer is in a highly concentrated liquid formulation. So while it is the same active ingredient, it is a distinct product from Mytesi, distinct financials and pricing around it, and what is necessary to appropriately be administered to a patient that cannot take a pill, cannot maintain a pill. And then the last category of robustness is our commercial robustness.
So we have two FDA-approved products right now that we have already launched, Mytesi, Canalevia. Canalevia is the dog product conditionally approved for chemotherapy-induced diarrhea. And we are launching Gelclair in October of this year, so just around the corner, next month. Gelclair is an FDA-approved product for Oral mucositis. On the commercial side, we have made a commitment to supportive care, and very specifically, cancer supportive care. In this era of targeted therapies, where patients are living, particularly metastatic patients, are living for years with cancer, almost as a chronically managed situation, yet on, in many cases, on targeted therapy indefinitely for the rest of their life, even in a curative situation for months and, and, and years. Patients want to live. They don't just want to survive.
Oral mucositis is the by cancer organizations and patients, the worst side effect in terms of the pain and the impact on the interruption of the cancer care. So what Oral mucositis feels like is broken glass in your mouth all day long, every single day with a habanero pepper on top of it. You can't eat, you can't drink, you can't talk, you can't even open your mouth because of the wounds on the mucosa. It's about 40% overall in oncology-treated patients, but in head and neck radiation and bone marrow transplant, essentially 100% of the patients are gonna suffer from Oral mucositis.
And so for a small company launching and building a sales force, it's an opportunity for sharp strategic focus on where our educational and promotional and actual rep, field representative, geographical focus is going to be, or indication focus, very specifically on those head and neck radiation treatment centers and bone marrow treatment centers. As we are committed to cancer supportive care, and as we move Mytesi along and ultimately, hopefully bring that to a commercial opportunity for patients as well, we'll be able to coincidentally broaden out to the oncology population for both products. Oral mucositis has emerged as a problem with some of the ADCs, particularly in breast cancer patients and ovarian cancer patients. And of course, we're looking for other opportunities to leverage this commercial focus with other in-license opportunities. Financially, our last reported cash was about $16 million.
We are committed now with the upcoming proof of concept in the rare disease program and with our OnTarget results out there, and fleshing out for a briefing package to the FDA to look for collaborations, partnerships, to bring in non-dilutive dollars to assist with the funding of future clinical trials and future in-license opportunities as well. We have global unencumbered rights to Crofelemer. As I mentioned, we don't have that patent cliff issue, so it's a very attractive opportunity and safe opportunity and low-risk development opportunity for pharmaceutical partnerships. So you can see here some of the upcoming catalysts that we have. We have a remarkable team of about 10 of us who've been together for close to 20 years at this point, fully committed to bring Crofelemer to all the patient populations in need, all the disease populations, and all the geographical populations.
I will mention one other thing. We do have an earlier stage, not early stage, but an earlier stage development program, looking at psychoactive plants that we have collected over twenty years. We have 2,300 plants we've collected. About 20% of them are in the psychoactive area, and those will be IND ready, three of them next year, one for schizophrenia, anxiety, and ADHD. They are part of a joint venture that we established, Magdalena Biosciences, so it was a way for us to leverage value from efforts that we, basic research that we've done in the field over thirty years, with very little effort and expense from our side. That has been funded by an outside venture capitalist, One Small Planet, and it is going out for another round of funding so that equity value will come into Jaguar going forward.
I will just leave you with a list of our investment highlights, most of which I've touched on, but the most important thing is the near-term catalysts that we have across the three categories of robustness, starting now before the end of the year. So thank you very much.
Thank you so much, Ms. Conte, for sharing the exciting work going on at Jaguar Health. We wanna thank everyone who attended, either virtually or in person, and we hope you have a productive and enjoyable day.