JUPW - Jupiter Wellness acquires Ascent Clinical Research with $3M in annual revenue

Jupiter Wellness (NASDAQ:JUPW) concluded an Asset Purchase Agreement with Ascent Clinical Research through which it has acquired certain clinical assets including clinical trial research contracts worth $3M in annual revenues for a purchase price of 5% royalties on future net revenues generated by the assets. "This strategic asset purchase agreement adds immediate revenues to Jupiter in Q2 2022 and contributes positively towards EBITDA with no upfront cash or stock acquisition cost to our company. The acquired contracts and related assets enhance Jupiter's position as a R&D powerhouse while allowing us to enter the lucrative clinical research organization business," CEO Brian John commented. Shares trading 6.2% higher premarket.

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Jupiter Wellness acquires Ascent Clinical Research with $3M in annual revenue