Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1043

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 3
Chunk 1043
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 sold 2,750,000 shares of its Common
Stock to the underwriters and yielded proceeds of $9,725,213, net of underwriters and other fees of $1,274,787. On April 11, 2022, we
issued a senior secured convertible note in the principal amount of $1,111,111 in exchange for $1,000,000 as described above in “Item
1. Business” of this Annual Report on Form 10-K, which was paid down with the proceeds from the initial public offering.

For the fiscal years ended December
31, 2024 and 2023, we generated no revenues from product sales and reported net losses of $2,439,625 and $4,783,689, respectively, and
negative cash flow from operating activities of $3,911,004 and $480,953, respectively. There is 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 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.

Our
failure to raise capital as and when needed could have a negative impact on our financial condition and our ability to pursue our business
strategies. We anticipate that we will need to raise substantial additional capital, the requirements of which will depend on many factors,
including:

    ●
    the
    scope, rate of progress and costs of our drug delivery, preclinical development activities, laboratory testing and clinical trials
    for our drug candidate;

    ●
    the
    number and scope of clinical programs we decide to pursue;

    ●
    the
    scope and costs of manufacturing development and commercial manufacturing activities;

    ●
    the
    extent to which we acquire or in-license other drug candidate and technologies;

    ●
    the
    cost, timing and outcome of regulatory review of our drug candidate;

    ●
    the
    cost and timing of establishing sales and marketing capabilities, if our drug candidate receives marketing approval;

    ●
    the
    costs of preparing, filing and prosecuting patent applications, obtaining, maintaining and enforcing our intellectual property rights