Company: JUNS
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024684
Chunk: 0

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 8
Chunk 0
---
NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE
30, 2025

Note
1 – Organization and Description of Business

Jupiter
Neurosciences, Inc. (the “Company”) is a clinical stage research and development pharmaceutical company located in
Jupiter, Florida. The Company incorporated in Delaware in January 2016. The Company 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. We are primarily targeting Parkingson’s Disease. In addition, and more broadly, JOTROL has potential
indications for use related Mucopolysaccharidoses Type 1, Friedreich’s Ataxia, and MELAS and Mild Cognitive Impairment/early Alzheimer’s disease.

JOTROL
has the potential to deliver a therapeutically effective dose of resveratrol in the blood stream, using a unique patented micellar
formulation, without causing gastrointestinal side effects. Based on the results of the Company’s Phase I study, JOTROL may
resolve the major obstacle of resveratrol’s poor bioavailability, which has been documented in various scientific articles
describing previously conducted human trials with resveratrol as well as preclinical trial results in mice and rats.

The
Company’s Phase 1 dose finding pharmacokinetics (“PK”) study was completed in 2021.and funded by the U.S. National
Institute on Aging, an institute of the U.S. National Institutes of Health (“NIH”): Safety and Pharmacokinetics of
JOTROL for Alzheimer’s Disease, Federal Award Identification Number R44AG067907-01A1 (the “Award”). This Phase 1
PK study will be homogeneous for all indications where JOTROL will be used in Phase II and Phase III clinical trials.

Initial
Public Offering

In
December 2024, the Company’s sold 2,750,000 shares of common stock, par value $0.0001 per share (“common stock”) at
a price of $4.00 per share for gross proceeds of $11 million before underwriting discounts and other related expenses in a registered
initial public offering (the “IPO”). Net proceeds, after deducting underwriting discounts, commissions, and offering-related
expenses, were approximately $9,725,213. In connection with the