Curanex Pharmaceuticals (CURX) Registration Filing summary

Company overview and business model

• Focuses on developing and commercializing innovative botanical drugs for inflammatory and immune diseases, leveraging a proprietary platform for extracting and optimizing plant-based compounds.

• Lead candidate, Phyto-N, targets multiple indications including ulcerative colitis, atopic dermatitis, COVID-19, diabetes, NAFLD, gout, and acne, with all research to date in preclinical stages.

• Revenue model anticipates future product sales, collaborations, licensing, and research grants, with initial commercialization dependent on regulatory approval.

• Acquired key IP assets and preclinical data from a related party, Duraviva, in exchange for equity.

Financial performance and metrics

• No revenue generated in 2023 or the first nine months of 2024 due to transition from supplements to drug development.

• Net loss of $224,343 for the nine months ended September 30, 2024, and $19,198 for the year ended December 31, 2023.

• Cash and cash equivalents of $571,447 as of September 30, 2024, up from $74,366 at December 31, 2023, due to equity issuance.

• Total shareholders’ equity increased to $640,522 as of September 30, 2024.

• Ongoing negative cash flows from operations; company is dependent on future equity or other financings.

Use of proceeds and capital allocation

• Net proceeds of ~$8 million (assuming $5.00/share IPO price) to be used for FDA-required GLP toxicology and pharmacokinetic studies, manufacturing clinical trial material, initiating Phase I trial for Phyto-N in ulcerative colitis, and working capital.

• Full business plan through FDA approval and product launch estimated to require over $150 million, with future phases dependent on additional capital raises.