Active Research Programs Developing Multiple Health & Wellness Product Lines.
Growing Revenues from Consumer Products, Contract Research, and Licensing.
New BOD Member Appointed who Reported Insider Purchase of 122,000 Shares.
Exclusive Licensing Agreement with Rejoy, Inc. to Develop Products for Various Treatments in Women with Cancer.
Notice of Allowance for Patent Titled "Minoxidil Adjuvant Therapies."
Clinical Trial Comparison of JW-100 and EUCRISA for the Treatment of Eczema.
JUPW Shares Currently Considered Over-Sold & Over-Shorted by Watch Groups.
Dear Shareholders of Jupiter Wellness, Inc. (NASDAQ: JUPW):
I would like to take this opportunity to review the significant progress made by your company since the last Letter to Shareholders dated September 15. We have launched or restarted two clinical trials for tinnitus and eczema, both conditions with large patient populations. We have entered the potentially lucrative market of Female Intimacy Wellness and obtained or added to our intellectual property portfolio with the addition of our hair loss therapy. We finally had our topical treatment for psoriasis and vitiligo approved by the "FDA of India" and just announced the market launch in India. And lastly, we announced record revenues for the Nine Months ending September 30 vs. the corresponding period in 2021.
We have compiled a quick summary of recent developments and an overview of our products and their current disposition - whether already on the market and generating revenues, currently in clinical trials, or in development:
Jupiter Wellness Corporate Development Highlights
- United States Patent and Trademark Office (USPTO) granted a notice of allowance for patent application No. 16/747,685, titled "Minoxidil Adjuvant Therapies." The patent encompasses the composition and methods for inducing (up-regulating) the expression of sulfotransferases in the hair follicles on the scalp. It has been shown that the induction of the sulfotransferase enzyme in hair follicles increases the sulfonation capacity of minoxidil, thereby increasing the response level to oral and topical minoxidil in the treatment of alopecia.
- Announced the initiation of a triple-blinded clinical study evaluating a possible treatment for tinnitus. Up to 15% of patients recovering from COVID-19 have experienced post-acute COVID-19-induced tinnitus. During the COVID-19 pandemic, Jupiter Wellness scientists identified a novel pathway for the treatment of COVID-19-induced tinnitus and possibly subjective tinnitus. The discovery led to a patent recently filed by Jupiter Wellness for the use of dopamine receptor modulation for the treatment of tinnitus. The Company launched a study to investigate if dopamine receptor modulation can be used effectively to treat COVID-19-induced tinnitus (https://clinicaltrials.gov/ct2/show/NCT05507372). Currently, there is no effective treatment available for patients suffering from tinnitus.
- The company's Photocil product (branded as PhotoFirst in India) has been approved by the CDSCO for sale in India. The Central Drugs Standard Control Organisation (CDSCO), under the Directorate General of Health Services, Ministry of Health & Family Welfare, is the National Regulatory Authority (NRA) of India. Photocil is a topical product that filters UV rays from the sun to allow only the therapeutic UV spectrum to penetrate the skin and is used for the treatment of psoriasis and vitiligo. After this market approval, Eris Oaknet Healthcare Pvt Ltd (Eris Oaknet) and CosmofixTechnovation Pvt Ltd (Cosmofix) had market launch meetings for Photocil products for the Indian market in November. The incidence of psoriasis among total skin patients in India ranged between 0.44 and 2.2%, with an overall incidence of 1.02% (hyperlink: https://ijdvl.com/psoriasis-in-india-prevalence-and-pattern/). The overall prevalence of vitiligo (hyperlink: https://pubmed.ncbi.nlm.nih.gov/4054593/ ) is about 5 per 1,000 individuals. India has a population of 1.412 billion.
- Announced that it has begun the application process to dual list its shares on Upstream, the revolutionary trading app for digital securities and NFTs powered by Horizon Fintex ("Horizon") and MERJ Exchange Limited ("MERJ"). The planned dual listing on Upstream is designed to provide Jupiter Wellness the opportunity to access a global, digital-first investor base that can trade using USDC digital currency along with credit, debit, PayPal, and USD, unlocking liquidity and enhancing price discovery while globalizing the opportunity to invest in Jupiter Wellness.
- Re-opened patient enrollment in a clinical trial to evaluate the superiority of JW-100, a novel topical cream, in a head-to-head study against EUCRISA, an FDA Approved topical treatment for eczema developed by Pfizer. The initial study was put on hold to solve stability issues which were resolved in the original JW-100 formulation.
- The Company reported $1.57 million in revenues for the three months that ended September 30, 2022, compared to $688K for the same period in 2021, a 228% increase. In addition to the revenues booked in the Third Quarter, Jupiter Wellness's wholly-owned subsidiary, SRM Entertainment, received $3.6 million in guaranteed purchase orders, with revenues realized once orders are shipped. For the Nine Months that ended Sept. 30, revenues were $5.29 Million vs. $1.33 Million, representing a 398% increase over the First Nine Months of 2021.
- On October 25, Jupiter Wellness Acquisition Corp., of which Jupiter Wellness is the sponsor and owns a considerable stake, entered into a definitive business combination agreement with Chijet Motor Company, Inc., which is developing next-generation electric vehicles and expanding its manufacturing capabilities. The deal is expected to be consummated in the next three months.
- The Company retired an additional 391,000 shares to treasury from our share buyback program that ended in June.
Product Overview of Jupiter Wellness Products
- Minoxidil Booster (TM) - Topical treatment designed to improve Minoxidil efficacy (Approved and on the market)
- Photocil (TM) - Topical treatment for psoriasis and vitiligo (Licensed and on the market)
- NoStingz (TM) - Topical protection from jellyfish, sea lice, and UVA/UVB rays (Approved and on the market)
- JW-100 - Topical treatment of eczema (Currently in development)
- JW-300 - Topical treatment of first-degree burns and sun exposure (Currently in development)
- JW-400 - Topical treatment of cold sores (Currently in development)
- JW-500 - Topical treatment for female Intimacy wellness (Currently in development)
- JW-600 - Treatment for COVID-19-induced tinnitus (Clinical trials underway)
As we head into the end of 2022, we look forward to capitalizing on the progress we have made in building a foundation for continued revenue growth, monetizing our clinical trial programs, building profitability, and enhancing shareholder value.
Please accept my thanks and the gratitude of our entire executive team for your continued support of Jupiter Wellness.
DISCLAIMER: This article is purely for informational purposes and is not a recommendation in any way for buying or selling stocks.
Company Name: Jupiter Wellness, Inc
Contact Person: Brian John, CEO
Email: Send Email
Phone: 561 244 7100
Address:725 North Highway A1A Suite C-106
State: FL 33477
Country: United States