Jupiter Neurosciences Inc(JUNS) - 2025 Q3 - Quarterly Report

Financial Performance - For the three months ended September 30, 2025, research and development expenses increased to $816,697, a rise of 789% compared to $91,911 in the same period of 2024[140] - General and administrative expenses for the same period rose to $1,480,356, reflecting a 269% increase from $401,636 in the prior year[141] - Total operating expenses for the three months ended September 30, 2025, were $2,297,053, up 365% from $493,547 in the same period of 2024[139] - The net loss for the three months ended September 30, 2025, was $2,288,034, compared to a net loss of $591,021 for the same period in 2024, representing an increase of 287%[139] - For the nine months ended September 30, 2025, research and development expenses were $2,042,890, a 600% increase from $291,655 in the same period of 2024[148] - General and administrative expenses for the nine months ended September 30, 2025, totaled $4,057,046, up 202% from $1,341,271 in the prior year[149] - The net loss for the nine months ended September 30, 2025, was $6,069,866, compared to a net loss of $911,998 for the same period in 2024, indicating a 566% increase[147] Cash Flow and Financing - Net cash used in operating activities during the nine months ended September 30, 2025 was $3,045,713, a substantial increase from $215,225 used in the same period in 2024[161] - Net cash provided by financing activities was $0 for the nine months ended September 30, 2025, compared to $187,000 in the same period in 2024[162] - The company has an accumulated deficit of $32,091,995 since inception, raising substantial doubt about its ability to continue as a going concern for at least twelve months[155] - The company generated no revenues from product sales since inception, highlighting its reliance on external financing[155] - The company is dependent on raising additional funds to sustain operations and may need to delay or terminate development programs if unable to secure financing[156] Interest Income and Expenses - Interest income for the three months ended September 30, 2025, was $10,212, a significant increase from $23 in the same period of 2024, reflecting a 44,300% rise[142] - Interest expense for the three months ended September 30, 2025, decreased to $1,193 from $107,382 in the prior year, representing a 99% reduction[143] Business Development and Strategy - The company has initiated business development activities in the Asian region, aiming to accelerate drug development and commercialization efforts[165] - The company has entered into service agreements that include equity investments in exchange for services, which are expected to facilitate potential out-licensing deals[166] - The CEO has loaned the company $146,432 as of September 30, 2025, with an interest rate of 3% per year[167] - The company has no off-balance sheet financing arrangements that could materially affect its financial condition[163] - The Company plans to finance future operations through equity securities, grant awards, and strategic collaborations, although there is no assurance of success in these efforts[133]