Jupiter Neurosciences, Inc.
Jupiter Neurosciences, Inc. is a clinical stage research and development pharmaceutical company that has developed a unique resveratrol platform product primarily targeting treatment of neuro-inflammation. The product candidate, called JOTROL™, has many potential indications of use for rare diseases, which we primarily are targeting Mucopolysaccharidoses Type 1, Friedreich’s Ataxia, and MELAS and with ALS in an earlier development stage. In the larger disease areas, we are primarily targeting Mild Cognitive Impairment/early Alzheimer’s disease with an early development program in TBI (traumatic brain injury)/concussions.
In 2020, we received approval for full funding, $1.76 million, for our Phase I study from the National Institute on Aging (“NIA”). We plan to continue pursuing grant funding opportunities in all areas where they are available, such as Phase II and Phase III trials in Alzheimer’s disease as well as any funding available for our rare disease projects. In the NIA scientific review summary statement of our Phase I study application, it is stated that NIA is looking forward to a Phase II study with an enhanced resveratrol product, based on the earlier study results from the well published Turner et al. Alzheimer’s study. We recently submitted a grant application to NIA for full funding, including corporate overhead for a total of $18.3 million, for the duration of the study, of a Phase II trial in Mild Cognitive Impairment (MCI) and early Alzheimer’s disease. There is however no guarantee that this and future grant applications will be successful and therefore the rejection of our future grant application may significantly delay the Company’s plans in connection with MCI and Alzheimer’s and may have a significant impact on the Company’s financial performance. Further, the Company may never receive any future grants or costs savings.
**Note: Revenue and net loss figures are for the 12 months that ended Sept. 30, 2022.
(Note: On Jan. 6, 2023, Jupiter Neurosciences, Inc. filed an S-1/A updating its financial statements through Sept. 30, 2022, and keeping its terms the same as in its Dec. 2, 2022, SEC filing: 2.61 million shares at $5.75 to raise $15.0 million. On Dec. 2, 2022, Jupiter Neurosciences filed an S-1/A revising its IPO by increasing the number of shares to 2.61 million shares (2,608,695 shares) from 2.5 million shares and stipulating an assumed IPO price of $5.75, below the mid-point of its previous range of $5.00 to $7.00, to raise $14.99 million. On Aug. 16, 2022, Jupiter Neurosciences changed underwriters – to Spartan Capital as the sole book-runner – and revamped its IPO to a stock-only deal, dropping the warrants. The new terms: 2.5 million shares at $5.00 to $7.00 to raise $15.0 million, with the proposed stock symbol “JUNS” on the NASDAQ. On Aug. 26, 2022, Jupiter Neurosciences updated its S-1/A filing. **A 1-for-2 reverse stock split was effective Jan. 25, 2022; all share and per-share information in the prospectus have been adjusted to account for that event.)
(Background: This IPO’s previous joint book-runners were Roth Capital and Dawson James Securities. Jupiter Neurosciences, Inc., revived its IPO – postponed on Thursday (Feb. 10, 2022) due to market conditions – in an S-1/A filing dated April 26, 2022; the unit deal was tentatively scheduled for pricing after the close on Feb. 10. Previously: Jupiter Neurosciences cut the size of its unit IPO to 2.2 million units, down from 3.33 million units, and increased the price range to $6.00 to $8.00, up from $5.00 to $7.00, in an S-1/A filing dated Jan. 26, 2022. Each unit consisted of one share of common stock and one warrant to buy one share of common stock. The S-1 was filed Oct. 12, 2021.)
(Note: On Sept. 20, 2022, Jupiter Neurosciences, Inc.’s IPO was postponed due to NASDAQ – just ahead of its expected pricing that night. The pricing date is TBA. A week earlier, on Sept. 13, 2022, the deal’s timing was moved back a week, “due to market conditions,” following the U.S. stock market’s plunge after shocking U.S. CPI data for August.)
|Address||Jupiter Neurosciences, Inc. 1001 North US HWY 1, Suite 504 Jupiter, Florida 33477|
|Phone Number||(561) 406-6154|
|View Prospectus:||Jupiter Neurosciences, Inc.|
|Revenues||$0 mil (last 12 months)|
|Net Income||$-5.12 mil (last 12 months)|
|Price range||$5.75 - $5.75|
|Est. $ Volume||$15.0 mil|
|Manager / Joint Managers||Spartan Capital|
|Expected To Trade:|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|