Overview of Jupiter Neurosciences, Inc.’s Financial Report

Business Overview Jupiter Neurosciences, Inc. is a clinical-stage pharmaceutical company focused on developing treatments for central nervous system (CNS) disorders and rare diseases. The company is also expanding into the consumer longevity market with its Nugevia product line. Both efforts are powered by JOTROL, Jupiter’s proprietary, enhanced resveratrol formulation.

The company has completed preclinical studies for a Parkinson’s disease treatment and plans to start a Phase IIa clinical trial in the fourth quarter of 2025. Jupiter also aims to explore other CNS indications, such as Mild Cognitive Impairment and Alzheimer’s disease, following the Parkinson’s study.

Over the past two years, JOTROL has garnered significant interest from Asian organizations, partly due to resveratrol’s use in Asian herbal medicines and recent patent approvals in Hong Kong and China. Jupiter has entered service agreements with firms in Hong Kong to accelerate product development in Southeast Asia.

In March 2025, the company announced a partnership with Aquanova AG to develop a series of nutritional products targeting longevity, aging, and healthspan, which will be marketed under the Nugevia brand.

Financial Position Jupiter Neurosciences has not generated any revenue from product sales since its inception and has incurred a net loss of $3,781,832 for the six months ended June 30, 2025. The company has negative cash flows from operations totaling $1,891,263 during the same period and an accumulated deficit since inception of $29,803,961.

Management has concluded that these conditions raise substantial doubt about the company’s ability to continue as a going concern for at least the next twelve months. Jupiter plans to finance future operations with proceeds from equity securities, grant awards, and strategic collaborations, but there is no assurance that the company will be able to do so on commercially reasonable terms, if at all.

Results of Operations

Three Months Ended June 30, 2025 vs. Three Months Ended June 30, 2024

• Research and development (R&D) expenses increased by $658,371 (651%) due to costs associated with a service agreement for product development and distribution in Southeast Asia, as well as increased R&D activities for the Parkinson’s disease program.
• General and administrative (G&A) expenses increased by $1,049,432 (230%) due to higher employee salaries and bonuses, increased legal and professional fees from the company’s Nasdaq listing, and higher insurance and consulting costs.
• Interest expense decreased by $55,155 (98%) due to the repayment or conversion of interest-bearing obligations in prior periods.
• There was no loss on change in fair value of derivative liability in the current period, compared to a $25,431 loss in the prior period.

Six Months Ended June 30, 2025 vs. Six Months Ended June 30, 2024

• R&D expenses increased by $1,026,449 (514%) due to the same factors as the three-month period.
• G&A expenses increased by $1,648,662 (178%) due to the same factors as the three-month period.
• Interest expense decreased by $119,682 (98%) due to the same factors as the three-month period.
• There was no loss on change in fair value of derivative liability or loss on extinguishment of debt in the current period, compared to $63,142 and $951,868, respectively, in the prior period.

Liquidity and Capital Resources Jupiter Neurosciences has historically financed its operations primarily through the sale of common stock, convertible debt, and proceeds from its IPO. The company will need to raise additional funds to achieve its business plans and sustain operations, which may come from sources such as equity or debt securities, licensing of intellectual property, or strategic collaborations.

The company’s net cash used in operating activities increased from $172,627 in the six months ended June 30, 2024, to $1,891,263 in the six months ended June 30, 2025, primarily due to the increase in net loss. The company had no net cash provided by financing activities in the current period, compared to $159,000 in the prior period.

Business Development Activities Jupiter Neurosciences has initiated business development activities in the Asian region, including service agreements in areas such as business development, CMC, regulatory affairs, and clinical trial management. These agreements typically involve an equity investment in the company by the other party in exchange for three years of services. The company believes these agreements are favorable and could potentially lead to out-licensing deals in the Southeast Asian territories.