Jupiter Neurosciences Stock Swings on $100M MDMA Pact, $2M Equity Sale
Jupiter Neurosciences shares fell 37% to $0.205 Wednesday after announcing a proposed U.S. licensing deal for PharmAla Biotech’s MDMA-based ALA-002 and a $2 million stock offering. Trading volume topped 230 million shares. The licensing agreement is non-binding, with a potential value over $100 million, and gives Jupiter 90 days to finalize terms. Jupiter reported a $2.06 million Q1 net loss and $2.36 million in cash.