Jaguar Health shares rose 47.59% to $10.42 Friday as investors reacted to additional debt-for-equity exchanges that pushed total debt reduction above $6.7 million and fully retired a secured promissory note issued to Streeterville Capital on November 12, 2025. The move followed a $5,049,909.26 exchange disclosed Thursday, which issued 547,898 shares and sent the stock down 21.77% to $6.97 amid dilution concerns. The latest transactions reduce near-term liquidity pressure for Jaguar as it funds commercialization of Mytesi (crofelemer), its FDA-approved treatment for non-infectious diarrhea in adults with HIV/AIDS receiving antiretroviral therapy, while pursuing crofelemer trials for cancer therapy-related diarrhea and rare diseases.