Jaguar Health has seen its stock price fall 2% in the past 24 hours as it is unable to get an infusion of cash from investors to fund its $1.3 billion capital expenditures.
The news comes amid the company’s recent troubles.
Jaguars stock fell 4% yesterday and is now trading at $6.49.
Jaguar’s CEO Mark Wallace said on Monday that the company has received a large infusion of funding and is looking to close a $300 million financing deal with a Chinese investment group.
Wallace also said that Jaguar is not looking to take on additional debt or other debt that would increase its debt-to-equity ratio, which he said is around 4%.
Jaguars shares are down by 2% on the news.
The company’s stock was trading up 5% on Monday afternoon.
The news of the Jaguar Capital funding comes just a day after a group of investors, led by Chinese billionaire Wang Jianlin, announced plans to raise $100 million to fund Jaguar’s $1 billion capital expenditure.