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Aptorum Group Limited (Nasdaq: APM) is a leading clinical-stage biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapeutic assets targeting diseases with unmet medical needs. Headquartered in London, UK, Aptorum focuses primarily on oncology, particularly orphan indications and infectious diseases.
The company operates through two main segments: Therapeutics and Non-Therapeutics. In the Therapeutics segment, Aptorum is advancing its clinical pipeline with projects such as ALS-4 for Methicillin-Resistant Staphylococcus Aureus (MRSA), SACT-1 for neuroblastoma, and the RPIDD rapid pathogen identification and detection diagnostics technology. These initiatives are backed by a robust drug discovery platform that utilizes systematic screening of existing approved drug molecules and microbiome research for metabolic disease treatments.
Recent milestones include the submission of the Phase 1b/2a clinical trial protocol for SACT-1 to the US FDA for treating neuroblastoma, a solid tumor predominantly affecting pediatric patients. The trial aims to determine the recommended phase 2 dose based on safety and efficacy, representing a significant step forward in addressing this aggressive cancer.
In the Non-Therapeutics segment, Aptorum is also engaged in projects focused on surgical robotics and developing natural supplements for menopausal women. The company's diverse pipeline includes innovations in neurology, gastroenterology, metabolic disorders, and women's health, reflecting its commitment to addressing various complex health challenges.
Financially, Aptorum remains vigilant in controlling costs while continuing to advance its key programs. The company reported a net loss of $6.6 million for the first half of 2023, attributed to stringent budgetary controls and focused development on lead projects. Cash and restricted cash stood at approximately $0.5 million as of June 30, 2023.
On the corporate front, Aptorum recently received approval to transfer the listing of its Class A ordinary shares from the Nasdaq Global Market to the Nasdaq Capital Market, addressing previous listing deficiencies. The company's strategic focus on progressing its clinical programs underscores its potential for delivering significant advancements in biopharmaceutical innovation.
For more information, visit Aptorum Group's official website.
Aptorum Group Limited (Nasdaq: APM) announced a non-binding Letter of Intent for the acquisition of 100% of URF Holding Group Limited. This transaction is expected to involve the issuance of Aptorum’s class A ordinary shares as consideration, leading to a reverse takeover. U Group focuses on urban revitalization strategies targeting China's Generation Z consumption, with a notable revenue of approximately $28 million in 2021. The deal hinges on several conditions, including shareholder approvals and regulatory compliance. Following the acquisition, existing shareholders may own at least 15% of the combined entity, affirming a pre-acquisition valuation of $40 million.
RedChip Companies will feature interviews with Aptorum Group Limited (Nasdaq:APM) and ASP Isotopes Inc. (Nasdaq:ASPI) on The RedChip Money Report airing on Bloomberg TV on March 18, 2023, at 7 p.m. ET. This program reaches approximately 73 million households in the U.S. Aptorum Group focuses on developing therapeutic assets for unmet medical needs, including oncology and infectious diseases. ASP Isotopes is dedicated to the production of isotopes with applications across various industries. Both interviews aim to enhance visibility for these companies and attract potential investors.
Aptorum Group Limited (Nasdaq: APM, Euronext Paris: APM) announced the completion of Pre-IND discussions with the US FDA regarding its drug ALS-4, targeting infections from Staphylococcus aureus, including MRSA. Following successful Phase I trials in Canada, Aptorum aims to submit an IND for Phase II trials in the U.S. The FDA provided positive feedback, supporting Aptorum's strategy and goals for 2023. Dr. Clark Cheng emphasized the importance of ALS-4 in addressing unmet medical needs in MRSA infections. ALS-4 is a novel orally administered drug designed to enhance immune response against the bacteria.
Aptorum Group Limited (Nasdaq: APM) has successfully completed an End of Phase 1 (EOP1) meeting with the US FDA concerning its drug SACT-1, aimed at treating neuroblastoma in pediatric patients. The FDA expressed agreement on the chemistry-manufacturing-control (CMC) strategy and the proposed clinical development plan for upcoming Phase 1/2 trials. SACT-1, which has received orphan drug designation, is designed to enhance tumor cell death and is meant to be used alongside standard chemotherapy. The company views this milestone as significant progress in its strategic goals for 2023.
Aptorum Group Limited (NASDAQ: APM) has announced the commercial launch of NativusWell®, a dietary supplement aimed at supporting women's health during menopause, specifically targeted at the Chinese market. The product is now available through JD.com, one of China's largest e-commerce platforms, tapping into a significant market opportunity given China's population of over 130 million women aged 45 to 59. NativusWell® features a novel bioactive ingredient DOI, purported to offer anti-aging and bone health benefits. The company is also planning to expand its product distribution to the US, EU, and UK.
Aptorum Group Limited (Nasdaq: APM) regained compliance with Nasdaq’s minimum bid price requirement but was notified it does not meet the minimum market value of publicly held shares, set at $5 million. The company has until August 7, 2023, to address this issue. If it fails to comply, Aptorum could face delisting but may appeal or apply for transfer to the Nasdaq Capital Market. Currently, Aptorum’s Class A Ordinary Shares will continue to trade on the Nasdaq Global Market. The company focuses on developing therapeutic assets in oncology and infectious diseases, having completed Phase I trials for drugs targeting MRSA and neuroblastoma.
Aptorum Group Limited (Nasdaq: APM) announced a special extraordinary meeting of shareholders on February 21, 2023, at its London office. The meeting will address proposals for a merger with a newly established subsidiary and a reduction in share par value from USD10 to USD0.00001. These changes aim to streamline company structure and improve capital efficiency. Details are available in a Form 6-K filed with the SEC on February 6, 2023. Aptorum is focused on the development of therapeutics for unmet medical needs, particularly in oncology, autoimmune diseases, and infectious diseases.
Aptorum Group Limited (NASDAQ: APM) announced a 1-for-10 reverse stock split effective January 23, 2023, approved by shareholders on December 21, 2022. The Company aims to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share by ensuring that its Class A Ordinary Shares maintain this price for at least 10 consecutive business days before May 16, 2023. The reverse split consolidates every 10 shares into 1, affecting both Class A and Class B shares. The new CUSIP number for Class A shares post-split is G6096M 114.
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