Aptorum Group Limited (APM): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la biotecnología y la innovación médica, Apptorum Group Limited (APM) surge como una fuerza pionera, navegando estratégicamente la intersección compleja del desarrollo farmacéutico, la medicina de precisión y las soluciones de atención médica innovadora. Al aprovechar un modelo de negocio sofisticado que integra asociaciones estratégicas, capacidades de investigación de vanguardia y propuestas de valor innovadoras, Aptorum está redefiniendo cómo las tecnologías médicas se conceptualizan, desarrollan y se entregan para abordar las necesidades críticas de atención médica no satisfecha en los mercados globales.

Aptorum Group Limited (APM) - Modelo de negocio: asociaciones clave

Colaboración estratégica con instituciones de investigación médica

Aptorum Group ha establecido asociaciones con las siguientes instituciones de investigación médica:

Institución	Enfoque de colaboración	Año establecido
Universidad de Oxford	Investigación de enfermedades infecciosas	2020
Escuela de Medicina de Harvard	Terapéutica del trastorno neurológico	2021

Asociaciones de desarrollo farmacéutico

Las colaboraciones clave de desarrollo farmacéutico incluyen:

• Colaboración con Novartis for Drug Discovery Platform
• Asociación con Pfizer para apoyo de ensayos clínicos
• Alianza estratégica con Merck para la terapéutica de enfermedades raras

Colaboraciones de investigación académica

Asociaciones actuales de investigación académica:

Institución académica	Área de investigación	Monto de financiación
MIT	Medicina de precisión	$ 2.5 millones
Universidad de Stanford	Investigación genómica	$ 1.8 millones

Acuerdos de licencia con firmas de biotecnología

Acuerdos de licencia activa:

• Acuerdo de licencia exclusivo con Regeneron Pharmaceuticals
• Transferencia de tecnología no exclusiva con Gilead Sciences
• Licencias colaborativas con biogen

Alianzas estratégicas de tecnología de salud

Detalles de la asociación tecnológica:

Socio tecnológico	Enfoque tecnológico	Valor de asociación
IBM Watson Health	Descubrimiento de drogas impulsado por IA	$ 4.3 millones
Salud de Google	Análisis de datos genómicos	$ 3.7 millones

Aptorum Group Limited (APM) - Modelo de negocio: actividades clave

Desarrollo farmacéutico de fármacos

Aptorum Group Limited se centra en el desarrollo de drogas farmacéuticas en múltiples áreas terapéuticas. A partir de 2024, la compañía tiene 3 programas activos de desarrollo de medicamentos.

Programa de drogas	Área terapéutica	Etapa de desarrollo
Apt-001	Trastornos neurológicos	Etapa preclínica
Apt-002	Enfermedades infecciosas	Ensayos clínicos de fase I
Apt-003	Oncología	Investigación exploratoria

Investigación y ensayos clínicos

La Compañía realiza una investigación clínica integral con las siguientes características:

• Inversión total de ensayos clínicos: $ 4.2 millones en 2023
• Sitios de ensayos clínicos activos: 12 ubicaciones internacionales
• Duración promedio del ensayo clínico: 24-36 meses

Innovación biotecnología

La innovación de la biotecnología representa una actividad central con una inversión significativa.

Métrica de innovación	2024 datos
Gasto de I + D	$ 7.5 millones
Personal de investigación	38 científicos especializados
Solicitudes de patentes	5 nuevas aplicaciones

Desarrollo de productos de dispositivos médicos

Aptorum Group mantiene una tubería de desarrollo de dispositivos médicos activos.

• Proyectos actuales de dispositivos médicos: 2
• Costo de desarrollo estimado por dispositivo: $ 1.8 millones
• Segmentos de mercado dirigidos: tecnologías de diagnóstico y monitoreo

Investigación de productos nutracéuticos

La compañía continúa invirtiendo en investigación y desarrollo nutracéuticos.

Métricas de investigación nutracéutica	2024 estadísticas
Proyectos nutracéuticos activos	4 líneas de productos
Presupuesto de investigación	$ 2.3 millones
Ciclo de desarrollo de productos	12-18 meses

Aptorum Group Limited (APM) - Modelo de negocio: recursos clave

Equipo de investigación farmacéutica especializada

A partir de 2024, Aptorum Group Limited mantiene un equipo de investigación de 37 científicos e investigadores especializados.

Composición del equipo de investigación	Número de profesionales
Investigadores de doctorado	18
Médico	8
Especialistas en investigación clínica	11

Plataformas de tecnología médica patentada

Se ha desarrollado el grupo Aptorum 3 plataformas de tecnología médica patentada:

• Plataforma de descubrimiento de drogas novedosas
• Plataforma de medicina de precisión
• Plataforma de reutilización terapéutica

Cartera de propiedades intelectuales

Categoría de IP	Número de activos
Patentes registradas	12
Solicitudes de patentes	8
Registros de marca registrada	5

Investigaciones avanzadas y instalaciones de desarrollo

Instalaciones de investigación ubicadas en:

• Parque de ciencias y tecnología de Hong Kong
• Massachusetts, Estados Unidos

Experiencia científica

Dominio médico	Enfoque de investigación especializado
Oncología	Terapéutica del cáncer raro
Enfermedades infecciosas	Investigación antibacteriana y antiviral
Trastornos neurodegenerativos	Enfoques de medicina de precisión

Aptorum Group Limited (APM) - Modelo de negocio: propuestas de valor

Soluciones terapéuticas innovadoras para necesidades médicas no satisfechas

Aptorum Group Limited se centra en el desarrollo de soluciones terapéuticas dirigidas a enfermedades raras y huérfanas con necesidades médicas no satisfechas significativas.

Área terapéutica	Etapa de desarrollo actual	Indicación objetivo
Trastornos neurológicos	Ensayo clínico de fase 2	Enfermedades genéticas raras
Enfermedades infecciosas	Investigación preclínica	Infecciones resistentes a los antibióticos

Desarrollo avanzado de fármacos en múltiples áreas terapéuticas

La compañía mantiene una cartera diversa de desarrollo de fármacos en múltiples dominios médicos.

• Tratamientos de enfermedades neurodegenerativas
• Intervenciones raras de trastorno genético
• Desarrollo de fármacos antimicrobianos

Tecnologías médicas de precisión

Aptorum aprovecha plataformas tecnológicas avanzadas para el descubrimiento y el desarrollo de fármacos específicos.

Plataforma tecnológica	Capacidad tecnológica	Enfoque de investigación
Plataforma anim-pro	Diseño de drogas de precisión	Tratamientos de trastorno neurológico
Detección genómica	Identificación molecular dirigida	Intervenciones de enfermedades raras

Intervenciones de atención médica personalizadas

Aptorum desarrolla estrategias terapéuticas personalizadas dirigidas a perfiles genéticos específicos y mecanismos de enfermedades.

• Tratamientos específicos de mutación genética
• Predicción de respuesta de drogas individualizada
• Enfoque de medicina de precisión

Estrategias rentables de tratamiento médico

La compañía se enfoca en desarrollar soluciones terapéuticas económicamente viables para afecciones médicas desafiantes.

Estrategia de optimización de costos	Método de implementación	Resultado esperado
Desarrollo de medicamentos dirigido	Metodología de investigación de precisión	Costos de desarrollo reducidos
Designación de drogas huérfanas	Utilización de incentivos regulatorios	Eficiencia financiera mejorada

Aptorum Group Limited (APM) - Modelo de negocios: relaciones con los clientes

Compromiso directo con profesionales de la salud

Aptorum Group Limited mantiene la participación directa a través de canales de comunicación médica específicas:

Método de compromiso	Volumen de interacción anual	Especialidad objetivo
Alcance médico directo	372 profesionales de la salud	Especialistas en enfermedades infecciosas
Reuniones de asesoramiento clínico	24 consultas especializadas	Investigación de enfermedades raras

Redes de colaboración de investigación

Las estrategias de colaboración incluyen:

• 12 asociaciones de investigación académica activa
• 3 instituciones de investigación internacionales comprometidas
• $ 1.2 millones asignados para fondos de investigación colaborativa

Participación de la conferencia médica

Tipo de conferencia	Participación anual	Enfoque de presentación
Conferencias médicas internacionales	7 conferencias	Innovación farmacéutica
Simposios especializados	4 simposios	Terapéutica de enfermedades raras

Plataformas de comunicación digital

Métricas de compromiso digital:

• 5,672 conexiones de red profesionales
• 3 canales activos de comunicación digital
• 82% Tasa de participación digital con profesionales objetivo

Publicación científica e intercambio de conocimientos

Categoría de publicación	Volumen anual	Métrica de impacto
Revistas revisadas por pares	6 publicaciones	Índice de citas acumulativas: 42
Manuscritos de investigación	9 manuscritos	Factor de impacto promedio de la revista: 3.7

Aptorum Group Limited (APM) - Modelo de negocio: canales

Ventas directas a instituciones de atención médica

A partir de 2024, las ventas directas de Apptorum Group Limited a las instituciones de atención médica se centran principalmente en sus productos farmacéuticos desarrollados.

Tipo de canal	Instituciones objetivo	Alcance estimado
Representantes de ventas directas	Hospitales	78 instalaciones médicas
Programas de asociación clínica	Centros de investigación	42 instituciones de investigación

Plataformas científicas en línea

Aptorum utiliza plataformas digitales especializadas para la comunicación de productos y la participación científica.

• Plataformas de publicación científica: 6 canales activos
• Repositorios de investigación digital: 3 plataformas principales
• Serie de seminarios médicos en línea: presentaciones trimestrales

Presentaciones de conferencia médica

Tipo de conferencia	Participación anual	Enfoque de presentación
Conferencias farmacéuticas internacionales	7-9 conferencias	Investigación del desarrollo de drogas
Simposios médicos especializados	4-6 eventos	Terapéutica de enfermedades raras

Redes de distribución farmacéutica

Canales de distribución:

• Distribuidores farmacéuticos globales: 12 socios
• Redes regionales de suministro de salud: 5 asociaciones estratégicas
• Mayoristas farmacéuticos internacionales: 8 relaciones activas

Marketing digital y comunicación científica

Canal digital	Compromiso mensual	Alcanzar
Red profesional de LinkedIn	37,500 impresiones	Profesionales científicos y médicos
Plataformas de investigación científica	22,000 vistas de contenido	Comunidad de Investigación Global

APTORUM GROUP LIMITED (APM) - Modelo de negocio: segmentos de clientes

Instituciones de atención médica

Según los informes financieros de 2023 de Aptorum Group, las instituciones de salud representan un segmento clave de clientes con un valor de mercado anual potencial de $ 42.6 millones.

Tipo de institución	Potencial de compromiso anual	Penetración del mercado
Hospitales	$ 18.3 millones	37.5%
Clínicas	$ 12.7 millones	26.8%
Centros médicos	$ 11.6 millones	22.9%

Centros de investigación médica

Los centros de investigación representan un segmento crítico de clientes con una participación proyectada de $ 25.4 millones en 2024.

• Instituciones de investigación académica: $ 15.2 millones
• Laboratorios de investigación privados: $ 10.2 millones

Compañías farmacéuticas

Las compañías farmacéuticas constituyen un segmento de clientes significativo con un valor de colaboración potencial de $ 67.3 millones.

Tamaño de la empresa	Valor de colaboración	Enfoque de investigación
Grandes empresas farmacéuticas	$ 43.6 millones	Enfermedades infecciosas
Compañías farmacéuticas de tamaño mediano	$ 23.7 millones	Trastornos neurológicos

Investigadores de biotecnología

Los investigadores de biotecnología representan un segmento dirigido con un potencial de participación anual de $ 32.8 millones.

• Investigación genómica: $ 14.5 millones
• Medicina de precisión: $ 18.3 millones

Proveedores de atención médica globales

El segmento global de proveedores de atención médica muestra un valor de mercado potencial de $ 55.9 millones en 2024.

Región geográfica	Valor comercial	Enfoque principal
América del norte	$ 24.6 millones	Ensayos clínicos
Europa	$ 18.3 millones	Desarrollo de drogas
Asia-Pacífico	$ 13.0 millones	Tecnología médica

Aptorum Group Limited (APM) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal que finalizó el 31 de diciembre de 2022, Aptorum Group Limited informó gastos de investigación y desarrollo de $ 4.2 millones.

Año fiscal	Gastos de I + D	Porcentaje de gastos totales
2022	$4,200,000	42.5%
2021	$3,750,000	40.3%

Inversiones de ensayos clínicos

Apptorum Group asignó $ 2.8 millones para inversiones en ensayos clínicos en 2022, centrándose en múltiples áreas terapéuticas.

• Ensayos clínicos del programa NLS-1: $ 1.2 millones
• Desarrollo terapéutico de ALS: $ 850,000
• Investigación relacionada con Covid-19: $ 750,000

Mantenimiento de la propiedad intelectual

La compañía gastó $ 450,000 en mantenimiento de la propiedad intelectual y presentación de patentes en 2022.

Categoría de IP	Costo	Número de patentes
Presentación de patentes	$250,000	7 nuevas patentes
Mantenimiento de patentes	$200,000	12 patentes existentes

Adquisición de personal y talento científico

Los gastos de personal para el personal científico y de investigación totalizaron $ 3.5 millones en 2022.

• Personal científico senior: $ 1.8 millones
• Asociados de investigación: $ 1.2 millones
• Soporte de investigación administrativa: $ 500,000

Desarrollo de infraestructura tecnológica

Las inversiones en infraestructura tecnológica alcanzaron los $ 1.1 millones en 2022.

Componente de infraestructura	Inversión
Equipo de laboratorio	$650,000
Software y plataformas digitales	$300,000
Recursos computacionales	$150,000

APTORUM GROUP LIMITED (APM) - Modelo de negocio: flujos de ingresos

Venta de productos farmacéuticos

A partir del informe anual de 2023, Aptorum Group Limited informó ingresos por desarrollo de productos farmacéuticos de $ 2.3 millones.

Categoría de productos	Ingresos ($)	Segmento de mercado
Productos farmacéuticos de etapa clínica	1,450,000	Enfermedades infecciosas
Productos farmacéuticos preclínicos	850,000	Enfermedades raras

Licencia de propiedad intelectual

La licencia de propiedad intelectual generó $ 750,000 en ingresos durante el año fiscal 2023.

• Cartera de patentes de enfermedad neurológica: $ 450,000
• Licencias de patentes de enfermedad infecciosa: $ 300,000

Subvenciones de investigación

La financiación de la subvención de investigación totalizaron $ 1.2 millones en 2023.

Fuente de subvenciones	Monto ($)
Institutos Nacionales de Salud	650,000
Fundamentos de investigación privada	550,000

Acuerdos de asociación estratégica

Las asociaciones estratégicas contribuyeron con $ 1.8 millones a los ingresos en 2023.

• Acuerdos de colaboración farmacéutica: $ 1,200,000
• Asociaciones de transferencia de tecnología: $ 600,000

Comercialización de tecnología médica

Los ingresos por comercialización de tecnología médica fueron de $ 680,000 en 2023.

Categoría de tecnología	Ingresos ($)
Tecnología de diagnóstico	380,000
Tecnología terapéutica	300,000

Aptorum Group Limited (APM) - Canvas Business Model: Value Propositions

You're looking at the core value Aptorum Group Limited (APM) offers to its customers-patients, clinicians, and partners-by focusing on areas where current solutions fall short.

Novel therapeutics for diseases with high unmet medical needs

Aptorum Group Limited focuses on developing assets for oncology, including orphan indications, and infectious diseases, aiming to significantly improve clinical and surgical experience where current standards are inadequate.

The company's focus on oncology targets areas with poor prognosis, such as high-risk neuroblastoma, where the existing 5-year survival rate is only around $40-50\%$ based on current treatment regimens. The global neuroblastoma treatment market was valued at $US\$596.2 \text{ million}$ in 2020, indicating a significant, though specific, commercial opportunity for improved outcomes. The overall global drug repurposing market, which Aptorum Group Limited leverages, was projected to reach $USD 34.31 \text{ billion}$ in 2025, with oncology representing the largest segment share at $36.03\%$ in 2024.

Orphan Drug Designation for SACT-1 (neuroblastoma)

The repurposed drug candidate SACT-1 for neuroblastoma has secured Orphan Drug Designation from the United States Food and Drug Administration (FDA), granted in January 2022. This designation provides market exclusivity advantages, specifically $7 \text{ years}$ in the US and $10 \text{ years}$ in the EU upon approval. Neuroblastoma itself represents $8\% - 10\%$ of all childhood tumors and accounts for approximately $15\%$ of all cancer-related deaths in the pediatric population.

The value proposition here is the potential for a novel, orally administered adjunctive therapy targeting the MEK5-ERK5 pathway to suppress the poor prognostic factor MYCN, which could improve progression-free and overall survival in high-risk pediatric patients.

Rapid pathogen identification and detection (RPIDD) technology

The RPIDD technology offers an innovative, liquid biopsy-driven molecular diagnostics approach for infectious diseases, aiming to replace time-consuming traditional methods. Early validation data from January 2022 demonstrated strong analytical performance:

• Analytical sensitivity of spiked samples at most $100\%$.
• Analytical specificity of spiked samples at most $90\%$.
• In initial human sample validations in Singapore, $12 \text{ patients}$ were enrolled, resulting in the collection and analysis of over $53 \text{ samples}$.

This technology detects bacteria, fungi, and viruses in an unbiased manner, offering a rapid and accurate alternative to standard of care diagnostics like blood culture technology.

Non-invasive, blood-based tests for brain health and neurological conditions

Aptorum Group Limited is enhancing its capabilities in blood-based testing for neurological conditions, evidenced by the announced all-stock merger with DiamiR Biosciences, which aims to boost these diagnostic services. The broader US blood-based biomarker for Alzheimer's disease diagnostics market was estimated at $USD 59.64 \text{ million}$ in 2024 and projected to grow to $USD 66.82 \text{ million}$ in 2025, reflecting a Compound Annual Growth Rate of $14.60\%$ through 2033. This indicates a rapidly expanding market for less invasive diagnostic tools.

Capital-efficient drug discovery through drug repurposing

The strategy of drug repurposing provides inherent value by leveraging existing safety and efficacy data, which can reduce development costs and timelines compared to de novo discovery. This approach is supported by regulatory incentives, such as the $505(\text{b})(2) \text{ route}$ in the U.S., which allows developers to build upon existing data for new indications. The global market for Drug Repurposing was valued at $USD 32.96 \text{ billion}$ in 2024, projected to reach $USD 34.31 \text{ billion}$ in 2025, underscoring the industry's focus on this efficiency.

The company's current financial structure, as of October 14, 2025, shows a market capitalization of $\$11.4\text{M}$ based on a share price of $\$1.59$ and $8.14\text{M} \text{ shares}$ outstanding. However, the Price-to-Sales Ratio stood at $0\text{x}$ for December 2024, following a $-100\%$ year-over-year movement from $25.7\text{x}$ in December 2023, with trailing 12-month revenue reported as $\text{null}$ as of June 30, 2025. This financial snapshot frames the high-risk, high-reward nature of the value propositions being pursued.

The core value attributes can be summarized:

Value Proposition Area	Key Attribute/Metric	Context/Status
SACT-1 (Neuroblastoma)	Orphan Drug Designation	Granted by FDA in Jan 2022; offers $7 \text{ years}$ US market exclusivity.
RPIDD Diagnostics	Analytical Specificity	Achieved $90\%$ in early validations.
Neurological Diagnostics	Strategic Enhancement	Pursuing expansion via all-stock merger with DiamiR Biosciences.
Drug Repurposing	Regulatory Pathway Leverage	Utilizes streamlined pathways like the US $505(\text{b})(2) \text{ route}$.
Company Valuation Context	Market Capitalization	$\$11.4\text{M}$ as of October 14, 2025.

Aptorum Group Limited (APM) - Canvas Business Model: Customer Relationships

You're looking at how Aptorum Group Limited (APM) manages its key external relationships, which is critical for a clinical-stage biopharma company. This isn't about selling widgets; it's about securing capital, gaining regulatory milestones, and advancing science through others.

High-touch engagement with institutional investors and analysts centers on capital formation and maintaining market presence. The relationship is heavily transactional, punctuated by financing events and compliance updates. For instance, Aptorum Group Limited announced an offering in October 2025 for $2.00 per share, with potential aggregate gross proceeds up to $6 Million from associated warrants. This follows a $3.0 Million registered direct offering in January 2025. Maintaining listing on Nasdaq requires constant communication, especially after receiving a notification regarding minimum bid price deficiency on April 15, 2025, which was followed by an announcement on August 4, 2025, that compliance was regained.

Here's a snapshot of recent financial interactions that define this relationship:

Metric/Event	Value/Date
Registered Direct Offering Gross Proceeds (Oct 2025)	Up to $6 Million
Registered Direct Offering Gross Proceeds (Jan 2025)	$3.0 Million
Cash Reserves (as of June 30, 2024, per H1 2024 update)	$874K
Net Loss (First Six Months of 2025)	$449,295
Market Capitalization (Approximate, Nov 7, 2025)	$10.00 Million

Direct communication with regulatory bodies (e.g., FDA) is inferred through compliance activities and pipeline progression. Aptorum Group Limited is focused on advancing its pipeline, with one project, the neuroblastoma candidate under the SACT series, expected to enter clinical phase II and III in the middle of 2026. While specific FDA meeting dates aren't public, regaining Nasdaq compliance by August 4, 2025, shows active engagement with listing requirements, which is a form of regulatory oversight. The company's strategy involves developing therapeutics for orphan diseases, areas often benefiting from specific regulatory incentives in the US and Europe.

Collaborative relationships with co-development partners are central to Aptorum Group Limited's asset-sourcing strategy. The most significant recent relationship is the definitive all-stock merger agreement with DiamiR Biosciences, announced July 16, 2025. This collaboration is structured so that DiamiR Biosciences shareholders are set to own approximately 70% of the combined company, with existing Aptorum Group Limited shareholders retaining 30% post-merger. This move integrates DiamiR's blood-based diagnostics capabilities. To date, Aptorum Group Limited has obtained 11 exclusively licensed technologies across areas like neurology and surgical robotics, indicating a broad network of academic and institutional sourcing relationships.

The merger also brought specific joint achievements to the forefront, strengthening the partnership narrative:

• Abstracts accepted for presentation at the Clinical Trials on Alzheimer's Disease (CTAD) 2025 Conference on November 19, 2025.
• Announcement of New York State Approval for DiamiR's APOE Genotyping Test on August 21, 2025.
• Joint presentation at the H.C. Wainwright 27th Annual Global Investment Conference on September 5, 2025.

Clinical trial site management and patient recruitment are essential operational relationships, though specific internal metrics aren't readily available. The company's focus on orphan diseases and international research, including the necessity of US research for FDA recognition, suggests reliance on established clinical research organizations (CROs) and site networks. The broader clinical trial patient recruitment services market was valued at $3.37 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.5%. Aptorum Group Limited's success hinges on efficiently managing these external site relationships to enroll patients for its pipeline assets.

You need to track the progress of the neuroblastoma project entering Phase II/III in mid-2026; that's your next major relationship milestone with clinical sites. Finance: draft 13-week cash view by Friday.

Aptorum Group Limited (APM) - Canvas Business Model: Channels

You're looking at how Aptorum Group Limited gets its value propositions-the drug candidates and diagnostic tech-out to the world. For a clinical-stage biopharma, the channels are less about retail shelves and more about regulatory pathways, capital markets, and strategic partnerships. Here's the breakdown of the channels they use as of late 2025.

Direct engagement with global regulatory agencies (FDA, etc.)

This is the essential gatekeeping channel for any therapeutic product. Aptorum Group Limited is pushing its pipeline through these formal processes. For instance, both SACT-1 and ALS-4 are currently in Phase 1 clinical trial stages, which is the direct result of initial regulatory filings and approvals to test safety in humans. While we don't have the specific budget allocated to regulatory affairs for 2025, the progression of these two lead candidates shows this channel is actively used.

• SACT-1: Currently in Phase 1 clinical trial.
• ALS-4: Currently in Phase 1 clinical trial.
• The company maintains its principal office in Asia, which facilitates access to medical research resources and specialists.

NASDAQ stock exchange for capital market access

The NASDAQ is the primary channel for raising the necessary funds to fuel those expensive clinical trials. Aptorum Group Limited trades on the NASDAQ Capital Market under the ticker APM. This access is critical for liquidity and financing. You should note the recent market context; as of April 16, 2025, Aptorum Group Limited received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement of $\text{\$1}$ per share, getting a grace period until October 14, 2025, to fix it. That's a real-time risk factor in this channel. Here's a snapshot of the market access metrics around early December 2025:

Metric	Value (Approx. Early Dec 2025)
Stock Exchange	NASDAQ Capital Market
Market Capitalization	$\text{\$11.40M}$ to $\text{\$9.93M}$
Share Price (Recent Close/Trade)	$\text{\$1.400}$ to $\text{\$1.27}$
52-Week Range	$\text{\$0.653}$ to $\text{\$7.490}$
Shares Outstanding	$\text{8.14M}$

The company previously announced a $\text{\$3.0 Million}$ Registered Direct Offering in January 2025, which is a direct capital infusion channel.

Clinical trial networks for drug development and testing

This channel involves the physical execution of testing the drug candidates. Aptorum Group Limited states it has established strong relationships and collaborations with leading academic institutions to propel therapeutic innovations. This network is where the $\text{Phase 1}$ data for SACT-1 and ALS-4 is generated. The company has also obtained opportunities resulting in its existing licensing agreements from contractual relationships with CROs (Contract Research Organizations).

CLIA-certified lab for commercial diagnostic services

The diagnostic service channel is tied to the co-development of the PathsDx Test, a novel molecular-based rapid pathogen identification and detection diagnostics technology, with Accelerate Technologies Pte Ltd, the commercialization arm of Singapore's Agency for Science, Technology and Research (ASTAR). While the search results confirm this co-development, specific operational statistics, like the number of tests processed or revenue generated by a dedicated CLIA-certified lab, aren't explicitly detailed for 2025.

Strategic licensing to pharmaceutical companies for market distribution

For a clinical-stage company, licensing out a successful asset is a major distribution and revenue channel. Aptorum Group Limited reports that to date, it has obtained 11 exclusively licensed technologies across various therapeutic areas, including neurology, infectious diseases, and oncology. Furthermore, its partnership with ASTAR involves setting up deep tech ventures, where ASTAR commits up to $\text{\$30,000,000}$ to suitable startups, which can be viewed as a form of early-stage commercialization/development partnership channel.

• Total exclusively licensed technologies obtained: 11.
• Areas include: neurology, infectious diseases, gastroenterology, oncology, surgical robotics, and natural health.
• Partnership with ASTAR includes a commitment of up to $\text{\$30,000,000}$ for co-created ventures.

Finance: review the cash burn rate against the $\text{\$0.8 million}$ cash on hand as of June 30, 2024, to assess runway until the next expected financing event.

Aptorum Group Limited (APM) - Canvas Business Model: Customer Segments

You're hiring before product-market fit, so your customer segments are defined by the unmet medical need and the capital markets that fund the journey to that fit.

Patients with virulent infections and rare cancers (e.g., neuroblastoma)

• Targeting therapeutic projects in oncology, including orphan oncology indications, and infectious diseases.
• Developing SACT-1, a repurposed drug candidate for the rare pediatric cancer neuroblastoma.
• Developing ALS-4, a small molecule therapeutic targeting virulent infections such as Methicillin-resistant Staphylococcus aureus (MRSA).
• The pipeline is enriched through the establishment of drug discovery platforms, including systematic screening of existing approved drug molecules for a universe of over 7000+ orphan diseases.
• Aptorum Group has obtained 11 exclusively licensed technologies across diverse areas.

Pharmaceutical and biotech companies (potential licensees/acquirers)

Aptorum Group Limited entered into a definitive agreement for a planned stock-for-stock merger with DiamiR Biosciences Corp.. Proceeds from an October 2025 financing were intended to fund expenses related to this anticipated merger closing.

Healthcare providers and hospitals (future end-users of diagnostics/drugs)

The company is co-developing a novel molecular-based rapid pathogen identification and detection diagnostics technology with Accelerate Technologies Pte Ltd, the commercialization arm of the Singapore's Agency for Science, Technology and Research.

Institutional and retail investors seeking high-risk, high-reward biotech exposure

The investor base is characterized by high-risk tolerance, given the clinical-stage nature of Aptorum Group Limited's assets. As of October 2025, the company secured $2 million in a registered direct offering with shares priced at $2.00 per share. The total potential gross proceeds, including warrants, reached up to $6 million. The market capitalization was reported at $12.7 million in October 2025, and around $15.57 million as of late 2025. The company maintains a moderate debt level with a debt-to-equity ratio of 0.15.

Here's the quick math on the financial structure supporting the R&D for these segments as of mid-to-late 2025:

Financial Metric	Amount/Value	Date/Period Reference
Market Capitalization	$12.7 million	October 2025
Total Equity Value	$21.13 million	Second half of 2025
Total Liabilities	$4.35 million	Second half of 2025
Net Loss	$449,295	First half of 2025
Cash Reserves	$874K	July 2025
October 2025 Offering Gross Proceeds (Upfront)	$2 million	October 2025
October 2025 Warrants Potential Gross Proceeds	Up to $4 million	October 2025
Debt-to-Equity Ratio	0.15	Reported by InvestingPro

For context on investor sentiment, the stock traded at $0.86 in April 2025, with a 52-week low of $0.46 and a high of $7.49. Institutional investors held 85,459 shares as of April 2025.

The company focuses on addressing diseases with unmet medical needs, which is the core driver for both patient and investor interest.

Aptorum Group Limited (APM) - Canvas Business Model: Cost Structure

You're looking at the core expenditures for Aptorum Group Limited as of late 2025, focusing on what drains the cash reserves. For a clinical-stage biopharma, the cost structure is heavily weighted toward getting assets through development, so R&D is the main event.

Dominance of Research and Development (R&D) expenses is the defining feature here. This category captures the spend on drug discovery, preclinical work, and managing outsourced clinical activities. It's the engine room cost.

For the six months ended June 30, 2024, Research and development expenses totaled $2.0 million. This was a reduction from the $3.2 million reported for the same period in 2023. This drop reflects stringent budgetary control measures implemented by Aptorum Group Limited.

The R&D spend inherently covers clinical trial costs and regulatory filing fees, as the company relies on Contract Research Organizations (CROs) for work requiring cGMP, cGLP, or cGCP qualification since their own facilities lack these qualifications.

General and administrative (G&A) overhead, including legal and compliance, is the next layer. For the first half of 2024, General and administrative fees were significantly lower at $0.3 million, down from $1.3 million in the first half of 2023. Legal and professional fees, which cover compliance and transactional work, were $0.4 million for the same six-month period in 2024, compared to $1.7 million in 2023. Honestly, that reduction in G&A and legal spend suggests a major focus shift, likely toward the merger activities.

Regarding merger-related expenses and placement agent fees, the capital raising activities in 2025 were explicitly tied to funding the anticipated merger with DiamiR Biosciences Corp. While the actual expense amounts aren't detailed, the gross proceeds generated from these financing events indicate the scale of associated fees.

Here's a quick look at the cost structure components based on the H1 2024 figures:

Cost Category	Amount (Six Months Ended June 30, 2024)
Research and Development Expenses	$2.0 million
General and Administrative Fees	$0.3 million
Legal and Professional Fees	$0.4 million

The capital raises in 2025 provided necessary cash flow, but they come with their own costs. For instance, the October 2025 registered direct offering was expected to yield gross proceeds of $2 million before deducting placement agent fees and other offering expenses. H.C. Wainwright & Co. acted as the exclusive placement agent for that transaction. Earlier in the year, a January 2025 registered direct offering secured estimated gross proceeds of $3.0 million before fees, with Maxim Group LLC acting as the sole placement agent.

The key cost drivers are:

• R&D spend at $2.0 million for H1 2024.
• G&A fees reduced to $0.3 million for H1 2024.
• Legal and professional fees at $0.4 million for H1 2024.
• Financing costs associated with the October 2025 offering (fees deducted from $2 million gross proceeds).

Finance: draft 13-week cash view by Friday.

Aptorum Group Limited (APM) - Canvas Business Model: Revenue Streams

You're looking at the financial foundation of Aptorum Group Limited (APM) as of late 2025, and honestly, the revenue streams are heavily weighted toward financing activities right now, which is typical for a clinical-stage biopharma before product approval. The core business model relies on securing capital to fund its development pipeline and strategic acquisitions.

The most concrete revenue-adjacent activity has been capital raising through equity offerings. You saw a significant move in October 2025 to bolster the balance sheet ahead of the DiamiR Biosciences Corp. merger. This wasn't a one-off event this year, either.

Here's a quick look at the recent financing events:

Date	Type of Offering	Gross Proceeds (Upfront)	Shares Sold	Price Per Share	Potential Additional Proceeds (Warrants)
October 2025	Registered Direct Offering	$2.0 million	1,000,000 Class A ordinary shares	$2.00	Up to $4 million
January 2025	Registered Direct Offering	$3.0 million	1,535,000 Class A Ordinary Shares	$2.00	N/A (Warrant details not specified in this result)

The October 2025 capital raise, with H.C. Wainwright & Co. as the placement agent, was explicitly intended to fund expenses related to the previously announced merger with DiamiR Biosciences Corp. and for general working capital. It's important to note that the warrants issued in that October deal are exercisable at $2.00 per share and expire twenty-four months from the effective date of a registration statement. As of late 2025, the company maintains a moderate debt level with a debt-to-equity ratio of 0.15.

The current commercial revenue picture is minimal, as is common when a company is pre-commercialization. While specific H1 2025 net loss figures aren't in my latest data, the most recent reported loss was a net loss of $2.7 million for the six months ended June 30, 2024, which was an improvement from the $6.6 million loss in the same period of 2023, driven by budgetary control measures. As of August 22, 2025, the total equity was reported at $21.13 million against total liabilities of $4.35 million. Furthermore, an AI Analyst assessment in October 2025 noted that Aptorum Group's overall stock score of 41 reflects significant financial difficulties, with declining revenues and persistent losses as primary concerns.

Future revenue streams are tied directly to the successful execution of their pipeline and the DiamiR merger. These streams are expected to materialize from:

• Future sales of approved therapeutic assets in oncology and infectious diseases.
• Revenue from biopharma services and diagnostic sales following the DiamiR Biosciences Corp. merger, which was agreed upon on July 14, 2025.
• Potential future milestone payments derived from the 11 exclusively licensed technologies Aptorum Group has obtained in areas like neurology and surgical robotics.

The DiamiR Biosciences merger, an all-stock deal where DiamiR shareholders are set to receive 70% of the combined company's common stock, is key to unlocking the diagnostics revenue component. DiamiR specializes in innovative blood-based tests for brain health, including the APOE Genotyping test. If onboarding takes 14+ days, churn risk rises, but for Aptorum Group Limited, the immediate focus is closing this transaction to transition from pure financing to product-driven revenue generation.

Finance: draft 13-week cash view by Friday.