Company: JUNS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010990
Chunk: 64

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 64
---
rol
product, based on the earlier study results from the well published Turner et al. Alzheimer’s study.

In October 2024, we submitted an application for a $16.5 million grant
from the NIA for a Phase II trial in MCI/early Alzheimer’s Disease. In May 2025, we learned that the application will not be approved.
Therefore, studies focused on this indication will be paused until we receive biomarker results from our Phase 2a in Parkinson’s
Disease. We expect that several of those biomarkers, particularly in cognition, will be used to further validate the use of JOTROL in
Alzheimer’s Disease. This will enable us to determine the best path forward in MCI/early Alzheimer’s Disease.

24

We have recently entered into service agreements
in the areas of Business Development, CMC (Chemistry, Manufacturing, and Controls), regulatory affairs and clinical trial management with
companies that has their main operation in Hong Kong. These agreements are with companies that, we believe, have the knowledge and network
in the South-East Asian market to accelerate steps that is needed to have a product that can have treatment value in the territory.

In March 2025, the Company announced that it had
entered into a partnership with Aquanova AG to develop a series of nutritional products targeting longevity, aging and healthspan. The
first three products, which will focus on the concept of “Beauty from Within”, are slated to hit the market in the third quarter
of 2025 through a Direct-to-Consumer model. The Company will form a wholly-owned subsidiary to focus on the consumer market, and will
market its products on a to-be-developed website targeting the US market, along with social media marketing. Internationally, the Company
is focusing on partners who can market and accelerate sales, with an initial focus on the Asian region.

Financial Position

For the three months
ended March 31, 2025 and March 31, 2024, we have generated no revenues from product sales since inception and incurred net losses of
$1,528,867 and $634,100, respectively, and had negative cash flow from operating activities of $1,063,041 and $65,165, respectively.
As noted in the accompanying condensed consolidated financial statements, as of March 31, 2025, we had a working capital surplus of $1,721,604 and an accumulated
deficit of $27,550,996. There is