HomeFinancial MarketsWhy did Jupiter Wellness Inc. (JUPW) stock plunge in the after-hours?

Why did Jupiter Wellness Inc. (JUPW) stock plunge in the after-hours?

Jupiter Wellness Inc. (JUPW) shares declined 9.76% in after-hours on Monday, July 19, 2021, and closed at $3.70. Earlier in the morning session on Monday, JUPW’s stock lost 2.61% to close the morning session at $4.10. JUPW shares have moved down 10.48% in the past week. Over the past three months, the stock has lost 8.89%, while over the past six months, it has shed 28.32%. The company has a current market of $49.98 million and its outstanding shares stood at 11.17 million.

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Distribution agreement with Rigour International 

On July 19, 2021, Jupiter Wellness, Inc announced a multi-year agreement with Rigour International LLC as the exclusive authorized distributor of Jupiter Wellness Products within the Mainland of China and non-exclusive distributor for Hong Kong, Korea, and South-East Asian markets.

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Rigour International is granted the exclusive right to distribute, commercialize and sell Comfort Cream, Canisun Sunscreen Products, Radiant Relief, Fit CBD, Temple Tonic, and other related topical skincare Jupiter Wellness brands in China.

New appointment

On July 15, 2021, Jupiter Wellness, Inc appointed Dr. Andy Goren to its Scientific Advisory Board.

Dr. Andy Goren has more than twenty years of experience in clinical research, development, and commercialization of breakthrough therapeutics and diagnostics.

Initiation of Head-to-Head Trial comparing JW-100 and Eucrisa(R) 

On July 13, 2021, Jupiter Wellness, Inc initiated a head-to-head trial comparing JW-100 lotion with Eucrisacrisaborole ointment 2% for the treatment of patients with mild to moderate eczema (Atopic Dermatitis).

Eucrisa is an FDA-approved topical non-steroidal lotion containing crisaborole approved for the treatment of mild to moderate eczema. JW-100 is a novel non-steroidal topical lotion containing cannabidiol (cbd) and Aspertame for the treatment of mild to moderate eczema.

The clinical trial will be performed in collaboration with Applied Biology to evaluate the superiority between JW-100 and Eucrisa in adult patients with mild-to-moderate eczema.

Agreement with Applied Biology

On July 9, 2021, Jupiter Wellness, Inc entered into an exclusive agreement with Applied Biologyto license Photocil, a novel patented topical cream that provides clinically proven relief for Psoriasis, Vitiligo, and Atopic Dermatitis.

The Agreement the Applied Biology will provide Jupiter Wellness the exclusive licensee for Photocil in the United States. Jupiter Wellness has use of the copyrights, patents, technology, know-how, trademarks, and trade secrets of AB related to the use of Photocil.

Publication of clinical study results of JW-100

On June 22, 2021, Jupiter Wellness, Inc announced the publication of clinical study results to investigate the safety and efficacy of JW-100 its proprietary lotion formulation for the treatment of atopic dermatitis (eczema).

The JW-100 cohorts demonstrated statistically significant ISGA score reduction (p = 0.042). 50% of patients in the JW-100 group achieved an ISGA score of clear or almost clear (0 or 1) with at least a 2-grade improvement from baseline after treatment (p = 0.028). Only 20% and 15% of patients in the CBD only and placebo groups reported an ISGA score of clear or almost clear (0 or 1). JW-100, a novel topical formulation containing CBD and aspartame, was demonstrated to produce statistically significant improvements in AD following 14 days of topical application.

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Well, JUPW negative performance has no grounds at all. We do not have any negative news which could be linked with its loss on Monday. In fact, we have positive news which may help JUPW in regaining its positivity in the coming days.

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