Jun Liu Chief Executive Officer, Chairman of the Board and President

Jun Liu was appointed as President and Chairman of the Board of Curanex Pharmaceuticals Inc. in February 2024. In March 2026, a four-year executive employment agreement formalized his ongoing leadership, entrusting him with overall responsibility for the company's management, corporate strategy, research and development oversight, clinical and regulatory coordination, capital markets activities, and business execution. He directly owns 24.97% of the company's shares.

Wanjun Zhang Chief Financial Officer and Treasurer

Wanjun Zhang was appointed Chief Financial Officer and Treasurer of Curanex Pharmaceuticals Inc. effective January 1, 2026. He is 52 years old and brings over 20 years of experience in financial and accounting roles, with expertise in financial reporting, compliance, and business strategy. Prior to joining Curanex, Mr. Zhang provided financial consulting and accounting services to small and medium-sized companies since July 2020. He previously served as finance director at Beijing Huaxiahuitong Petty Loan Co. Ltd. from July 2017 to July 2020 and as finance director at Perfect World (Beijing) Software Co., Ltd., a former NASDAQ-listed company, from August 2010 to February 2016. Mr. Zhang holds a Bachelor's degree in Accounting from the Central University of Finance and Economics in Beijing, China.

Dr. Ning Zhang, PhD Chief Technology Officer

Dr. Ning Zhang holds the position of Chief Technology Officer at Curanex Pharmaceuticals.

Dr. Liqin Xie, PhD Chief Operating Officer

Dr. Liqin Xie serves as the Chief Operating Officer of Curanex Pharmaceuticals Inc. An at-will executive employment agreement for Dr. Xie became effective on March 1, 2026. She is involved in the operational aspects of the company's drug development, including milestones such as the completion of GMP-compliant pilot-scale batches for drug candidates.

Dr. Huijuan Zhong Chief Science Officer and Director

Dr. Huijuan Zhong is the Chief Science Officer and a Director at Curanex Pharmaceuticals.

The key risks for Curanex Pharmaceuticals (CURX) primarily stem from its status as a developmental-stage pharmaceutical company with no current revenue-generating products.

1. Clinical Development and Regulatory Approval Risk: As a preclinical-stage pharmaceutical company, Curanex Pharmaceuticals' success is heavily reliant on the successful progression of its lead botanical drug candidate, Phyto-N, through rigorous preclinical studies, Investigational New Drug (IND) submission, and subsequent clinical trials. The company is currently targeting an IND submission for ulcerative colitis in the fourth quarter of 2026, with Phase I clinical trials expected to follow. Failures at any stage of development, delays in regulatory approvals, or unexpected adverse effects could significantly impede its ability to bring products to market, which is a common and critical risk for companies in this industry.
2. Financial Sustainability and Cash Runway: Curanex Pharmaceuticals reported negative net income and no revenue in the past year, indicating a reliance on external funding for its operations. The company has a limited cash runway, less than one year, suggesting that it will need to secure additional financing in the near future to continue its drug development programs. While its current liquidity and solvency are excellent with no outstanding debt, this financial health is based on its recent initial public offering in August 2025, which raised $15 million. Sustaining operations and advancing drug candidates without a commercialized product poses a significant financial risk.
3. High Stock Volatility and Low Liquidity: The company's stock is characterized by high volatility and is considered "very high risk" due to periodic low trading volume. Such volatility can lead to significant fluctuations in share price, making it a speculative investment. Low liquidity can also make it challenging for investors to buy or sell shares without significantly impacting the stock price.

Curanex Pharmaceuticals (CURX) Addressable Markets for Main Products and Services

Curanex Pharmaceuticals (CURX) is a developmental-stage pharmaceutical company focused on discovering and developing botanical drugs for inflammatory diseases. Its lead candidate, Phyto-N, is being developed for several indications, with ulcerative colitis being the primary focus.

The addressable markets for Curanex Pharmaceuticals' main product indications are as follows, with market sizes provided globally:

• Ulcerative Colitis: The global ulcerative colitis market size was valued at approximately USD 6.59 billion in 2024 and is projected to reach USD 9.72 billion by 2033. Other estimates place the global market at USD 8.3 billion in 2025, growing to USD 14.9 billion by 2035.
• Atopic Dermatitis: The global atopic dermatitis drugs market size was valued at approximately USD 12.1 billion in 2024 and is estimated to grow to USD 31 billion by 2034.
• Type 2 Diabetes: The global Type 2 Diabetes market size was valued at approximately USD 36.7 billion in 2024 and is projected to reach USD 71.55 billion by 2033.
• Nonalcoholic Fatty Liver Disease (NAFLD): The global NAFLD drug market size is estimated to be around USD 21.98 billion in 2025 and is predicted to increase to approximately USD 33.6 billion by 2034.
• Gout: The global gout treatment market size was valued at approximately USD 2.40 billion in 2024 and is expected to reach USD 4.75 billion by 2032. Another report estimates the global gout therapeutics market at USD 3.0 billion in 2025, growing to USD 5.7 billion by 2035.

Curanex Pharmaceuticals (CURX) is a developmental-stage biotechnology company focused on discovering, developing, and commercializing botanical drugs for inflammatory diseases. The company's future revenue growth over the next 2-3 years is primarily anticipated to be driven by progress in its lead drug candidate and strategic advancements in its pipeline.

Here are 3-5 expected drivers of future revenue growth for Curanex Pharmaceuticals:

1. Advancement of Phyto-N for Ulcerative Colitis: Curanex's lead botanical drug candidate, Phyto-N, is primarily focused on treating moderate to severe ulcerative colitis. The company has recently completed a Good Manufacturing Practice (GMP)-compliant pilot-scale batch of Phyto-N. Curanex plans to submit an Investigational New Drug (IND) application for ulcerative colitis and initiate Phase I clinical trials in the fourth quarter of 2026. Successful progression through these regulatory and clinical milestones will be a critical driver for future revenue potential.
2. Expansion into Multiple Therapeutic Indications for Phyto-N: Beyond ulcerative colitis, Phyto-N is in preclinical research for several other inflammatory conditions, including atopic dermatitis, COVID-19, type 2 diabetes, nonalcoholic fatty liver disease (NAFLD), and gout. Advancing Phyto-N through development for these additional indications would significantly broaden the drug's market potential and open new avenues for revenue generation.
3. Strategic Licensing Agreements and Commercialization: As a developmental-stage company, Curanex Pharmaceuticals anticipates revenue generation only upon successful commercialization of its products or through strategic licensing agreements. Future partnerships or licensing deals with larger pharmaceutical entities for Phyto-N or other pipeline candidates could provide crucial funding, milestone payments, and eventual royalties, thereby driving revenue growth.
4. Leveraging Botanical Drug Development Approach: Curanex emphasizes its unique botanical drug development approach, which aims for high-efficacy botanical drugs with de-risked clinical pathways. The company highlights that Phyto-N has a history of human use over 30 years in China, demonstrating favorable tolerability and providing extensive preclinical data across multiple indications. This established safety profile and scientific backing for its botanical programs could expedite regulatory approvals and market acceptance, serving as a competitive advantage and a driver for accelerated commercialization.

Share Issuance

• Curanex Pharmaceuticals completed its Initial Public Offering (IPO) in August 2025, issuing 3.75 million shares of common stock at $4.00 per share, generating gross proceeds of $15 million.
• The underwriters fully exercised their over-allotment option in September 2025, purchasing an additional 562,500 shares at $4.00 each, resulting in an additional $2.25 million in gross proceeds and bringing the total gross proceeds from the IPO to $17.25 million.
• The company issued 28,312 shares of its common stock to an investor for $200,000 in a private placement in September 2025.

Inbound Investments

• The company received $200,000 from investor Xiaohong Song through a private placement of common stock in September 2025.
• Curanex Pharmaceuticals received loans totaling $400,000 from Dian Ying Jing, the company's secretary and spouse of the chief executive officer, in February and May 2025, which were subsequently repaid in September 2025.

Capital Expenditures

• Net proceeds from the August 2025 IPO, approximately $12.87 million, are intended to fund the development of its lead product candidate, Phyto-N, for ulcerative colitis, including FDA-required toxicology and pharmacokinetic studies, and preparation of an Investigational New Drug (IND) application.
• As of September 30, 2025, Curanex reported $8.47 million in prepaid research and development with Contract Research Organizations (CROs) and Contract Development and Manufacturing Organizations (CDMOs).
• In February 2026, Curanex completed a Good Manufacturing Practice (GMP)-compliant pilot-scale batch of its lead botanical drug candidate, Phyto-N, a key manufacturing milestone supporting upcoming toxicology and pharmacokinetic studies for a planned IND submission in Q4 2026.