Jupiter Neurosciences, Inc. announced the closing of its initial public offering on December 4, 2024. The company sold 2,750,000 shares of common stock at a price of $4.00 per share, generating gross proceeds of $11 million.
The company's shares began trading on the Nasdaq Capital Market on December 3, 2024, under the ticker symbol 'JUNS'. This marks Jupiter Neurosciences' transition to a publicly traded entity.
Net proceeds from the offering are designated to fund the Phase II clinical trial of JOTROL™ in Parkinson's Disease patients, support Strategic Service Agreements for business activities in South-East Asia, and finance research and development. Funds will also be used for annual license fees to Aquanova AG, debt repayment, working capital, and general corporate purposes.
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