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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 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.
Aptorum Group Limited (Nasdaq: APM) has published a paper detailing a rapid low-depth unbiased metagenomics sequencing workflow for diagnosing infectious diseases using the PathsDx Test. This test achieved over 95% sensitivity and specificity, with 93% agreement with standard diagnostic tests. The paper emphasizes the versatility of Illumina platforms in detecting DNA and RNA pathogens. With a growing genomic database of nearly 20,000 species, Aptorum is expanding validation sites in Singapore, Hong Kong, and the U.S. to enhance its testing capabilities.
Aptorum Group Limited (Nasdaq: APM) held its 2022 annual general meeting on December 21, 2022, in London. Shareholders re-elected seven directors and confirmed the re-appointment of Marcum Asia CPAs LLP as independent auditors. A significant decision made was the approval of a share consolidation, where every 10 Class A Ordinary Shares will convert to 1 Class A Share, and the same ratio applies for Class B Ordinary Shares, effective before December 21, 2023. Following this consolidation, the authorized share capital will be $100,000,000 divided into 6 million Class A shares and 4 million Class B shares.
Aptorum Group Limited (NASDAQ: APM) has completed a private offering of USD $3 million in convertible notes due December 2023. The offering, subscribed by Aenco Technologies Limited, is aimed at supporting daily operations and clinical programs. The notes, which carry a 7% annual interest rate and a conversion price of $1.20 per share, are to be utilized primarily for R&D of therapeutic candidates and commercialization of its health products. This financing reflects strong insider support for Aptorum's strategic initiatives.
Aptorum Group Limited (Nasdaq: APM) announced a private offering of
Aptorum Group Limited (NASDAQ: APM) will be featured in an interview on The RedChip Money Report airing on Bloomberg TV on November 26, 2022, at 7 p.m. ET. CEO Darren Lui will discuss Aptorum's pipeline targeting oncology, autoimmune, and infectious diseases, highlighting a $15 billion market opportunity and the completion of Phase 1 trials. The interview can be accessed at this link.
Aptorum Group Limited (NASDAQ: APM) announces the publication of a validated analytical method for measuring plasma pro-EGCG and its metabolites. Developed in collaboration with The Chinese University of Hong Kong, the method uses ultra-performance liquid chromatography and is crucial for in vivo pharmacokinetic studies. The company aims to utilize this assay for future Phase 1 clinical trials of Pro-EGCG, targeting endometriosis, which affects approximately 10% of women of reproductive age according to WHO.
Aptorum Group Limited (NASDAQ: APM) received a deficiency letter from Nasdaq due to its Class A Ordinary Shares trading below the $1.00 minimum bid price for 30 straight business days. The company has until
Aptorum Group Limited (NASDAQ: APM) will hold its 2022 annual general meeting on December 21, 2022, at its London office. Shareholders as of October 14, 2022, can vote and receive notice for the meeting. The company filed its annual report on Form 20-F, including audited financials for the fiscal year ending December 31, 2021, with the SEC on April 29, 2022. Aptorum focuses on developing therapeutics for oncology and infectious diseases, having completed two Phase I clinical trials. For more details, visit their website.
Aptorum Group Limited (NASDAQ: APM) provided a business update and financial results for the six months ending June 30, 2022. The company reported a net loss of $2.7 million, a substantial decrease from $17.1 million in the same period in 2021. Key highlights include successful Phase I trial completions for ALS-4 and SACT-1, alongside progress in the RPIDD program. The commercialization of the NativusWell® nutraceutical targeting women's health has commenced in Hong Kong. The company expects its current cash reserves will support operations for the next 12 months.
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