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Jupiter Neurosciences , Inc. (NASDAQ:JUNS) announced that its board’s Compensation Committee approved a bonus package for key executives, according to a statement released Wednesday based on a recent SEC filing.
On July 2, the committee approved the bonus plan following a review of the company’s final 2025 budget. The package recognizes executive contributions to Jupiter Neurosciences’ initial public offering in December 2024 and their decision to forgo additional compensation and forgive company debts in the 2024 fiscal year.
As part of the package, Chief Business Officer Alison Silva was granted 255,320 stock options, while Chief Financial Officer Saleem Elmassri received 102,128 stock options. The options were issued under the company’s 2023 Equity Incentive Plan at an exercise price of $1.19 per share, which reflects the closing price of the company’s common stock on the Nasdaq Capital Market on the grant date. The options have a ten-year term and will vest in equal installments over three years, starting from July 2, 2025, contingent on continued employment.
In addition to stock options, the bonus plan includes cash payments to certain officers and to Titan Advisory Services. These payments will be made only if the company’s cash on hand exceeds $3.5 million. The approved cash bonuses are as follows: $210,000 for Chief Executive Officer Christer Rosén, $45,000 for Chief Business Officer Alison Silva, $50,000 for Chief Science Officer Marshall Hayward, $72,000 for Chief Administrative Officer Alexander Rosén, and $72,000 for Titan Advisory Services.
The company stated that upon payment of the purchase price, the stock options and resulting common shares will be considered fully paid and non-assessable.
All information is based on a press release statement included in the company’s SEC filing. Jupiter Neurosciences is incorporated in Delaware and trades on the Nasdaq Capital Market under the symbol JUNS.
In other recent news, Jupiter Neurosciences, Inc. announced the commercial release of its Nugevia product line, aimed at enhancing longevity and generating immediate revenue. The company is leveraging its proprietary JOTROL technology, which has demonstrated a nine-fold increase in resveratrol bioavailability in clinical trials. Jupiter Neurosciences plans to release Nugevia PWR, a mitochondrial health supplement, and Nugevia GLO, a skin health supplement, both expected to be available in Fall 2025. These products are part of Jupiter’s strategy to expand into the consumer wellness market while supporting its pharmaceutical development efforts.
Jupiter Neurosciences has also appointed Cherry Bekaert (EBR:BEKB) LLP as its new auditor following the resignation of Assurance Dimensions, LLC, which decided to cease its PCAOB registrants practice. Assurance Dimensions’ previous audit reports did not contain any adverse opinions, but noted uncertainties regarding the company’s ability to continue as a going concern. The transition to Cherry Bekaert LLP was approved by the company’s Audit Committee, and there were no disagreements between Jupiter and its former auditor on accounting principles or practices. These developments reflect Jupiter Neurosciences’ ongoing efforts to strengthen its business operations and financial reporting.
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