Detailed financial statements for Jupiter Neurosciences, Inc. (JUNS): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Jupiter Neurosciences, Inc. is a pharmaceutical company engaged in clinical-stage research and development. Its primary focus is on advancing a resveratrol-based platform product, with the main objective of addressing neuro-inflammation. The company's pipeline includes several drug candidates: JNS101 is undergoing Phase II trials for Friedreich's Ataxia, a rare neurological disorder that damages the nervous system and causes mobility issues.
Analysis Summary
Jupiter Neurosciences, Inc. reported revenue of $21796 in the most recent fiscal year, growing at a 5-year CAGR of -54.6%.
Trailing-twelve-month margins: gross margin 88.3%, operating margin -151.7%, net margin -142.2%.
At the current price of $2.93, JUNS has negative trailing earnings (P/E not meaningful) and an ROE of 7.47%. Market capitalisation stands at $1M.
Balance sheet quality for JUNS: current ratio of 0.7, net debt of $1.5M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | $1.1M | $638037 | $233281 | 0 | 0 | $21796 |
| Cost of Revenue | 0 | 0 | 0 | 0 | 0 | 0 | $4231 |
| Gross Profit | 0 | $1.1M | $638037 | $233281 | 0 | 0 | $17565 |
| Research & Development | $685741 | $1.6M | $1.4M | $942806 | $954793 | $492660 | $2.1M |
| Selling, General & Admin | $1.5M | $1.3M | $3.1M | $2.7M | $2.9M | $2.6M | $6.8M |
| Operating Expenses | $2.2M | $3.0M | $4.5M | $3.7M | $3.9M | $3.1M | $8.9M |
| Operating Income | -$2.2M | -$1.9M | -$3.9M | -$3.4M | -$3.9M | -$3.1M | -$8.9M |
| EBITDA | -$2.7M | -$1.6M | -$4.1M | -$4.2M | -$4.6M | -$2.2M | -$8.6M |
| Interest Expense | $317104 | $13535 | $113994 | $740854 | $218705 | $248366 | $66020 |
| Pre-tax Income | -$3.0M | -$1.7M | -$4.2M | -$5.0M | -$4.8M | -$2.4M | -$8.6M |
| Income Tax | 0 | 0 | $179168 | 0 | 0 | 0 | 0 |
| Net Income | -$3.0M | -$1.7M | -$4.4M | -$5.0M | -$4.8M | -$2.4M | -$8.6M |
| EPS | $-26.25 | $-14.25 | $-33.00 | $-11.25 | $-10.50 | $-6.36 | $-18.75 |
| EPS (Diluted) | $-26.25 | $-14.25 | $-33.00 | $-11.25 | $-10.50 | $-6.36 | $-18.75 |
| Shares Outstanding (Diluted) | $116511 | $116511 | $126489 | $438352 | $438352 | $383774 | $461715 |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | 0 | $21796 | $18652 | $24245 |
| Gross Profit | 0 | $21796 | $14290 | $21064 |
| Operating Income | -$2.3M | -$2.8M | -$2.0M | -$2.7M |
| EBITDA | -$2.3M | -$2.5M | -$1.9M | -$2.7M |
| Net Income | -$2.3M | -$2.6M | -$2.1M | -$2.3M |
| EPS | $-5.25 | $-5.61 | $-4.39 | $-4.08 |
| EPS (Diluted) | $-5.25 | $-5.61 | $-4.39 | $-4.08 |
Balance Sheet (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1276 | $207998 | $330602 | $64431 | $28478 | $3.8M | $3.8M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | 0 | $126233 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | $159790 |
| Total Current Assets | $4968 | $549983 | $454674 | $69663 | $28739 | $4.7M | $4.8M |
| Property, Plant & Equipment | 0 | 0 | $208926 | $162498 | $116070 | $69642 | $23214 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $6177 | $549983 | $667383 | $235944 | $148592 | $6.2M | $5.6M |
| Accounts Payable | $131051 | $252192 | $256893 | $187032 | $189495 | $278676 | $131130 |
| Short-term Debt | $1.2M | $108479 | $440610 | $1.7M | $2.0M | $146432 | $5.3M |
| Total Current Liabilities | $5.0M | $4.3M | $5.7M | $7.3M | $5.8M | $2.0M | $7.4M |
| Long-term Debt | 0 | 0 | 0 | 0 | $106712 | 0 | 0 |
| Total Liabilities | $5.0M | $4.3M | $5.8M | $7.4M | $5.9M | $2.0M | $7.4M |
| Retained Earnings | -$8.0M | -$9.6M | -$13.8M | -$18.8M | -$23.6M | -$26.0M | -$34.7M |
| Total Equity | -$5.0M | -$3.7M | -$5.2M | -$7.1M | -$5.8M | $4.2M | -$1.8M |
| Total Debt | $1.2M | $108479 | $651201 | $1.9M | $2.2M | $217761 | $5.3M |
| Net Debt | $1.2M | -$99519 | $320599 | $1.8M | $2.2M | -$3.6M | $1.5M |
| Working Capital | -$5.0M | -$3.7M | -$5.2M | -$7.2M | -$5.7M | $2.6M | -$2.6M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $723797 | $3.8M | $2.4M | $1.5M |
| Total Assets | $2.6M | $5.6M | $3.9M | $3.7M |
| Total Liabilities | $2.5M | $7.4M | $6.7M | $4.1M |
| Total Equity | $57417 | -$1.8M | -$2.8M | -$365966 |
| Total Debt | $180393 | $5.3M | $4.8M | $1.7M |
Cash Flow (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Income | -$3.0M | -$1.7M | -$4.2M | -$5.0M | -$4.8M | -$2.4M | -$8.6M |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $944577 | $563530 | $1.3M | $817251 | $1.2M | $1.8M | $2.4M |
| Change in Working Capital | $1.1M | $964128 | $781288 | $1.5M | $2.3M | -$2.6M | $105390 |
| Operating Cash Flow | -$142952 | -$254783 | -$1.7M | -$1.2M | -$480953 | -$3.9M | -$5.4M |
| Capital Expenditure | 0 | 0 | -$4 | $4 | $3 | $4 | -$4 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$142952 | -$254783 | -$1.7M | -$1.2M | -$480953 | -$3.9M | -$5.4M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | -$1.2M | -$2.4M | -$1.4M | -$2.3M |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$1.2M | -$2.4M | -$1.4M | -$2.3M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $1.1M | -$2.0M | $500992 | $490997 |
Growth & Margins (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -43.3% | -63.4% | -100.0% | ||||
| Net Income Growth (YoY) | +45.7% | -164.7% | -13.2% | +3.5% | +49.0% | -254.4% | |
| EPS Growth (YoY) | +45.7% | -131.6% | +65.9% | +6.7% | +39.4% | -194.8% | |
| Shares Change (YoY) | +0.0% | +8.6% | +246.6% | +0.0% | -12.5% | +20.3% | |
| FCF Growth (YoY) | -78.2% | -581.0% | +28.0% | +61.5% | -713.2% | -38.4% | |
| Gross Margin | 100.0% | 100.0% | 100.0% | 80.6% | |||
| Operating Margin | -164.4% | -612.4% | -1471.4% | -40873.2% | |||
| EBITDA Margin | -145.7% | -640.4% | -1807.6% | -39359.9% | |||
| Net Margin | -146.9% | -686.4% | -2125.2% | -39662.8% | |||
| FCF Margin | -22.6% | -271.9% | -535.2% | -24838.2% | |||
| Effective Tax Rate | -0.0% | -0.0% | -4.3% | -0.0% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| FCF Per Share | $-1.23 | $-2.19 | $-13.72 | $-2.85 | $-1.10 | $-10.19 | $-11.73 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $116511 | $116511 | $126489 | $438352 | $438352 | $383774 | $461715 |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | 747.33% |
| Return on Invested Capital | -709.40% |
| Return on Assets | -247.39% |
| Gross Margin | 88.34% |
| Operating Margin | -15166.68% |
| Net Margin | -14220.12% |
Financial Health
| Debt / Equity | -4.78 |
| Current Ratio | 0.66 |
Key Ratios (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| P/E | -15.69 | -28.89 | -12.48 | -36.60 | -39.21 | -126.18 | -4.08 |
| P/B | -9.56 | -12.93 | -10.06 | -25.26 | -31.11 | 73.82 | -19.28 |
| P/S | 0.00 | 42.60 | 81.63 | 773.71 | 0.00 | 0.00 | 1620.54 |
| Gross Margin | 0.0% | 100.0% | 100.0% | 100.0% | 0.0% | 0.0% | 80.6% |
| Operating Margin | 0.0% | -164.4% | -612.4% | -1471.4% | 0.0% | 0.0% | -40873.2% |
| Net Margin | 0.0% | -146.9% | -686.4% | -2125.2% | 0.0% | 0.0% | -39662.8% |
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Explore sector: Healthcare · Biotechnology
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