Shares of Jupiter Wellness (NASDAQ: JUPW) are up nearly 10% YTD. The company recently announced it is merging with Next Frontier Pharmaceutical.
Jupiter Wellness Merges With Next Frontier
In December last year, Jupiter Wellness (JUPW) and Next Frontier Pharmaceuticals announced they were merging. In the meantime, the deal has been approved by the boards of both companies with the focus now placed on receiving approval from shareholders and regulators.
The merger will allow Jupiter Wellness to improve its drug development and formulation capabilities focused on cannabinoids and psychedelics. Moreover, Jupiter hopes the acquisition will help it create the leading platform for the development of active pharmaceutical ingredients based on synthetic cannabinoids and psychedelics.
Next Frontier is known for being the owner of SYNDROS®, the first and only FDA-approved CII Tetrahydrocannabinol. This liquid cannabinoid is designed to help with nausea and vomiting that adults experience after going through chemotherapy, as well as with AIDS-induced anorexia.
Next Frontier also developed two approved patents including a unique foundational method of cannabigerol synthesis and an innovative hemp powder, as well as 14 patent-pending methods focused on cannabinoid synthesis and cannabis production.
The company’s manufacturing facility based in Texas also received FDA and DEA licenses, allowing it to produce Schedule I to III controlled substances in a Current Good Manufacturing Practice (CGMP) facility, as well as a permit for overseas exports.
“With its industry-leading cannabinoid platform, innovative products, and pipeline, we strongly believe that Next Frontier Pharmaceuticals positions us well for long-term stockholder value creation,” Brian John, CEO of Jupiter Wellness, said.
Similarly, Next Frontier Pharmaceuticals believes that Jupiter Wellness is a perfect partner to support the company’s growth, commercial efforts, and clinical and research initiatives.
The transaction will provide Next Frontier shareholders with 65 million convertible shares of Jupiter Wellness and no cash when the deal is finalized. Under the terms of the deal, Jupiter has loaned $10.2 million to Next Frontier.
The deal is expected to close in the first quarter of 2022, pending additional approvals.
Jupiter Wellness (JUPW) Launches New Products
In April, Jupiter Wellness launched NoStingz, the company’s proprietary sunscreen line that protects consumers from jellyfish, man o’ war stings, and sea lice, while also providing UVA/UVB protection.
The pharmaceutical company said it has teamed up with Shark Defense Technologies to secure exclusive global intellectual property rights to formulas and production methods designed to protect consumers from jellyfish. The company currently has 4 pending patents.
Jupiter’s new product line consists of sprays and lotions for both children and adults, designed to protect them from jellyfish stings and UVA/UVB rays. The company plans to launch new products in the future.
“We see a significant market for jellyfish protective sunscreen and believe NoStingz has the potential to become the dominant brand in its category. Through this exclusive licensing agreement with Shark Defense Technologies, we intend to continue development of additional formulations for an expanded product line. NoStingz complements and will benefit from our current CaniSun distribution platforms,” said John.
A report by Fortune Business Insights projected the worldwide sun care market to reach a valuation of $17 billion by 2027, from its estimated worth of $13 billion in 2019.
The U.S. National Science Foundation says that 150 million swimmers are stung by jellyfish each year, 200,000 of which take place in Florida. Moreover, scientists say that the number of jellyfish continues to increase.
Their stings are known for causing immediate pain, itching, swelling, and even severe reactions such as troubled breathing and heart issues.
Weeks after its merger with Next Frontier was approved by the board of both companies, Jupiter Wellness launched new products as it continues to address the $17 billion sun care total addressable market.
Beat The Market With Our Expert Stock Picks
If you invested in 10 of our featured stock picks over the last 5 years, your chances of beating the market would be 90%.
Our last 3 stock picks grew a combined 348% after our alert!
Want to be notified the next time we issue a “Big Buy” alert or update our stocks to buy list? Sign up below today.
CVS to Acquire Signify in an $8 Billion Deal
Following recent media reports that the healthcare company CVS Health Corp (NYSE: CVS) is in advanced discussions to acquire home-healthcare provider Signify Health (NASDAQ: SGFY) for roughly $8 billion, two companies confirmed the deal on Monday. CVS agreed to...
Nvidia Stock Falls on China Warning
Nvidia shares dropped on Wednesday after the United States government limited sales of top AI chips to China. The tech company claims that its A100 and H100 high-performance AI chips would be impacted by the limitation in order to lessen the possibility that the...
Best Stocks to Invest for 2022 (September, 6)
September 6, 2022, World Wrestling Entertainment (NYSE: WWE) and Live Nation Entertainment, Inc. (NYSE:LYV) These two entertainment juggernauts have all the catalysts in the world pushing them as the best stocks to buy now. Just because American markets were closed on...
Volkswagen’s New CEO Wants to Accelerate EV Transition
On the first day on the job, Oliver Blume informed the public that Volkswagen will quicken its transition to electric vehicles (EVs), but that the company has to find the correct "rhythm" as it makes the necessary changes. Blume revealed a ten-point strategy...
Lululemon Athletica Shares Soar on Another Set of Strong Results
Lululemon Athletica shares increased by roughly 9% in after-hours trading Thursday, as the company announced quarterly earnings and revenue that exceeded analysts' estimates. U.S.-Canadian retailer reported better-than-expected results despite rising costs hurting...
Why is Best Buy (BBY) Stock Trading Lower This Week
Shares of Best Buy (NYSE: BBY) are down over 5% this week after the retailer reported a 13% drop in sales for the second quarter on Tuesday as consumers grew weary of inflation-driven price increases. How Did Best Buy Perform in Q1? Despite the sales...
Best Stocks to Buy Now (September 2)
September 2, 2022, Signet Jewelers Limited (NYSE:SIG) and Pure Storage, Inc. (NYSE:PSTG) Despite selling off following decent earnings, these two companies have considerable upside as the best stocks to buy now. As recession risks mount, the market is amid a...
Why EV Maker XPeng Shares are Down
Shares of the Chinese manufacturer of electric vehicles, XPeng (NASDAQ: XPEV), are trading over 20% lower in August after the EV company disclosed a wider-then-anticipated loss for the second quarter and disappointing delivery expectations. How Did XPeng...
Best Stocks to Buy in September 2022
September 1, 2022, Scorpio Tankers Inc. (NYSE:STNG) and EOG Resources, Inc. (NYSE:EOG) Singled out by a legendary growth investor, these energy standouts have more room to run as the best stocks to buy now. Investors appear to be in full-blown panic mode. The...
Dell Stock Hits Multi-Month Lows as Demand Weakens
Shares of Dell Technologies (NYSE: DELL) fell to their lowest level since 2018 earlier this week after the technology company reported solid Q2 results but warned of a significant slowdown in the second half of the year as raging inflation continues to weigh on...