Company: JUNS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010990
Chunk: 65

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 65
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 substantial doubt regarding our ability to continue as a going concern as a result of our
historical recurring losses and negative cash flows from operations as well as our dependence on private equity and financings. See
“Risk Factors—We have a history of operating losses, our management has concluded that factors raise substantial doubt
about our ability to continue as a going concern and our auditor has included an explanatory paragraph relating to our ability to
continue as a going concern in its audit report for the fiscal years ended December 31, 2024 and 2023” in our Form 10-K for fiscal 2024.

Results of Operations

Three Months Ended March 31, 2025 Compared
to the Three Months Ended March 31, 2024

Revenue and Federal Awards

There was no revenue from
product sales during the three months ended March 31, 2025 or 2024 as we are focused on research and development.

Research and Development Expenses

Research and development (“R&D”)
expenses were $466,745 for three months ended March 31, 2025 compared to $98,667 for three months ended March 31, 2024. The increase in research and development expenses was primarily driven by costs incurred under a three-year service
agreement associated with product development and distribution efforts in the Southeast Asian market. The remainder of the increase relates
to heightened R&D activities, specifically the procurement of clinical trial supplies for our Parkinson’s disease program.

R&D expenses related to
the federal grant were segregated in the chart of accounts from non-federal award costs. At this time, we are not tracking R&D expenses
per indication as all of the R&D expenses incurred to date related to JOTROL, which is the platform product used in each indication
defined in our product pipeline.

In addition, the probability
of success for JOTROL will depend on numerous factors, including manufacturing capability, satisfactory results in follow on clinical
trials, regulatory approvals and commercial viability. See “Risk Factors”.

General and Administrative Expenses

General and administrative
expenses were $1,071,258 for the three months ended March 31, 2025 compared to $472,028 for the three months ended March 31, 2024. The
increase is due to employees receiving their full salaries in the current period compared to the prior period.
In addition, there was an increase in legal and professional fees in the current period compared to the prior period as a direct result
of the Company being listed