APTORUM GROUP LIMITED (APM): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage dynamique de la biotechnologie et de l'innovation médicale, Aptorum Group Limited (APM) émerge comme une force pionnière, naviguant stratégiquement à l'intersection complexe du développement pharmaceutique, de la médecine de précision et des solutions de santé révolutionnaire. En tirant parti d'un modèle commercial sophistiqué qui intègre des partenariats stratégiques, des capacités de recherche de pointe et des propositions de valeur innovantes, Aptorum redéfinit la façon dont les technologies médicales sont conceptualisées, développées et livrées pour répondre aux besoins critiques des soins de santé non satisfaits sur les marchés mondiaux.

APTORUM GROUP LIMITED (APM) - Modèle d'entreprise: partenariats clés

Collaboration stratégique avec les institutions de recherche médicale

Aptorum Group a établi des partenariats avec les institutions de recherche médicale suivantes:

Institution	Focus de la collaboration	Année établie
Université d'Oxford	Recherche de maladies infectieuses	2020
École de médecine de Harvard	Thérapeutique des troubles neurologiques	2021

Partenariats de développement pharmaceutique

Les principales collaborations de développement pharmaceutique comprennent:

• Collaboration avec Novartis pour la plate-forme de découverte de médicaments
• Partenariat avec Pfizer pour le soutien des essais cliniques
• Alliance stratégique avec Merck for Rare Disease Therapeutics

Collaborations de recherche universitaire

Partenariats de recherche académique actuels:

Établissement universitaire	Domaine de recherche	Montant du financement
Mit	Médecine de précision	2,5 millions de dollars
Université de Stanford	Recherche génomique	1,8 million de dollars

Accords de licence avec les entreprises de biotechnologie

Accords de licence actifs:

• Contrat de licence exclusif avec Regeneron Pharmaceuticals
• Transfert de technologie non exclusive avec les sciences de Gilead
• Licence collaborative avec Biogen

Alliances stratégiques de la technologie des soins de santé

Détails du partenariat technologique:

Partenaire technologique	Focus technologique	Valeur de partenariat
IBM Watson Health	Découverte de médicaments pilotés par l'IA	4,3 millions de dollars
Google Health	Analyse des données génomiques	3,7 millions de dollars

APTORUM GROUP LIMITED (APM) - Modèle d'entreprise: Activités clés

Développement de médicaments pharmaceutiques

Aptorum Group Limited se concentre sur le développement de médicaments pharmaceutiques dans plusieurs zones thérapeutiques. Depuis 2024, la société a 3 programmes de développement de médicaments actifs.

Programme de drogue	Zone thérapeutique	Étape de développement
APT-001	Troubles neurologiques	Étape préclinique
APT-002	Maladies infectieuses	Essais cliniques de phase I
APT-003	Oncologie	Recherche exploratoire

Recherche clinique et essais

La société mène des recherches cliniques complètes avec les caractéristiques suivantes:

• Investissement total des essais cliniques: 4,2 millions de dollars en 2023
• Sites d'essais cliniques actifs: 12 emplacements internationaux
• Durée moyenne des essais cliniques: 24 à 36 mois

Innovation de biotechnologie

L'innovation de la biotechnologie représente une activité de base avec des investissements importants.

Métrique d'innovation	2024 données
Dépenses de R&D	7,5 millions de dollars
Personnel de recherche	38 scientifiques spécialisés
Demandes de brevet	5 nouvelles applications

Développement de produits médicaux

Le groupe Aptorum maintient un pipeline de développement de dispositifs médicaux actifs.

• Projets de dispositifs médicaux actuels: 2
• Coût de développement estimé par appareil: 1,8 million de dollars
• Segments de marché ciblés: technologies de diagnostic et de surveillance

Recherche de produits nutraceutiques

La société continue d'investir dans la recherche et le développement nutraceutiques.

Métriques de recherche nutraceutique	2024 statistiques
Projets nutraceutiques actifs	4 gammes de produits
Budget de recherche	2,3 millions de dollars
Cycle de développement des produits	12-18 mois

APTORUM GROUP LIMITED (APM) - Modèle d'entreprise: Ressources clés

Équipe de recherche pharmaceutique spécialisée

En 2024, Aptorum Group Limited maintient une équipe de recherche de 37 scientifiques et chercheurs spécialisés.

Composition de l'équipe de recherche	Nombre de professionnels
Chercheurs de doctorat	18
Médecins	8
Spécialistes de la recherche clinique	11

Plateformes de technologie médicale propriétaire

Le groupe Aptorum a développé 3 plateformes de technologie médicale propriétaire:

• Nouvelle plate-forme de découverte de médicaments
• Plateforme de médecine de précision
• Plate-forme de réutilisation thérapeutique

Portefeuille de propriété intellectuelle

Catégorie IP	Nombre d'actifs
Brevets enregistrés	12
Demandes de brevet	8
Inscriptions de la marque	5

Installations de recherche et développement avancées

Installations de recherche situées dans:

• Hong Kong Science and Technology Park
• Massachusetts, États-Unis

Expertise scientifique

Domaine médical	Focus de recherche spécialisée
Oncologie	Rare Cancer Therapeutics
Maladies infectieuses	Recherche antibactérienne et antivirale
Troubles neurodégénératifs	Approches de médecine de précision

APTORUM GROUP LIMITED (APM) - Modèle d'entreprise: propositions de valeur

Solutions thérapeutiques innovantes pour les besoins médicaux non satisfaits

Aptorum Group Limited se concentre sur le développement de solutions thérapeutiques ciblant les maladies rares et orphelines avec des besoins médicaux non satisfaits importants.

Zone thérapeutique	Étape de développement actuelle	Indication cible
Troubles neurologiques	Essai clinique de phase 2	Maladies génétiques rares
Maladies infectieuses	Recherche préclinique	Infections résistantes aux antibiotiques

Développement avancé des médicaments dans plusieurs zones thérapeutiques

La société maintient un portefeuille diversifié de développement de médicaments dans plusieurs domaines médicaux.

• Traitements des maladies neurodégénératives
• Interventions de troubles génétiques rares
• Développement de médicaments antimicrobiens

Technologies médicales de précision

Aptorum exploite des plateformes technologiques avancées pour la découverte et le développement de médicaments ciblés.

Plate-forme technologique	Capacité technologique	Focus de recherche
Plate-forme Anim-Pro	Conception de médicaments de précision	Traitements des troubles neurologiques
Dépistage génomique	Identification moléculaire ciblée	Interventions de maladies rares

Interventions de soins de santé personnalisés

Aptorum développe des stratégies thérapeutiques personnalisées ciblant des profils génétiques et des mécanismes de maladie spécifiques.

• Traitements spécifiques à la mutation génétique
• Prédiction de réponse à la drogue individualisée
• Approche de la médecine de précision

Stratégies de traitement médical rentables

La société se concentre sur le développement de solutions thérapeutiques économiquement viables pour des conditions médicales difficiles.

Stratégie d'optimisation des coûts	Méthode d'implémentation	Résultat attendu
Développement de médicaments ciblés	Méthodologie de recherche de précision	Réduction des coûts de développement
Désignation de médicaments orphelins	Utilisation des incitations réglementaires	Efficacité financière améliorée

APTORUM GROUP LIMITED (APM) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les professionnels de la santé

Aptorum Group Limited maintient l'engagement direct grâce à des canaux de communication médicale ciblés:

Méthode d'engagement	Volume d'interaction annuel	Target Specialty
Sensibilisation médicale directe	372 professionnels de la santé	Spécialistes des maladies infectieuses
Réunions de conseil clinique	24 consultations spécialisées	Recherche de maladies rares

Réseaux de collaboration de recherche

Les stratégies de collaboration comprennent:

• 12 partenariats de recherche académique actifs
• 3 institutions de recherche internationales engagées
• 1,2 million de dollars alloués au financement de la recherche collaborative

Participation de la conférence médicale

Type de conférence	Participation annuelle	Focus de présentation
Conférences médicales internationales	7 conférences	Innovation pharmaceutique
Symposiums spécialisés	4 symposiums	Thérapeutiques de maladies rares

Plateformes de communication numérique

Métriques d'engagement numérique:

• 5 672 connexions de réseau professionnel
• 3 canaux de communication numériques actifs
• Taux d'engagement numérique de 82% avec des professionnels cibles

Publication scientifique et partage des connaissances

Catégorie de publication	Volume annuel	Impact métrique
Journaux évalués par des pairs	6 publications	Index de citation cumulative: 42
Manuscrits de recherche	9 manuscrits	Facteur d'impact du journal moyen: 3,7

APTORUM GROUP LIMITED (APM) - Modèle d'entreprise: canaux

Ventes directes vers les institutions de soins de santé

En 2024, les ventes directes d'Aptorum Group Limited vers les établissements de santé sont principalement axées sur leurs produits pharmaceutiques développés.

Type de canal	Institutions cibles	Portée estimée
Représentants des ventes directes	Hôpitaux	78 installations médicales
Programmes de partenariat clinique	Centres de recherche	42 institutions de recherche

Plateformes scientifiques en ligne

Aptorum utilise des plateformes numériques spécialisées pour la communication des produits et l'engagement scientifique.

• Plateformes de publication scientifique: 6 canaux actifs
• Référentiels de recherche numérique: 3 plateformes primaires
• Série de webinaires médicaux en ligne: présentations trimestrielles

Présentations de la conférence médicale

Type de conférence	Participation annuelle	Focus de présentation
Conférences pharmaceutiques internationales	7-9 conférences	Recherche sur le développement de médicaments
Symposiums médicaux spécialisés	4-6 événements	Thérapeutiques de maladies rares

Réseaux de distribution pharmaceutique

Canaux de distribution:

• Distributeurs pharmaceutiques mondiaux: 12 partenaires
• Réseaux de fournitures de soins de santé régionaux: 5 partenariats stratégiques
• Grossistes pharmaceutiques internationaux: 8 relations actives

Marketing numérique et communication scientifique

Canal numérique	Engagement mensuel	Atteindre
LinkedIn Professional Network	37 500 impressions	Professionnels scientifiques et médicaux
Plateformes de recherche scientifique	22 000 vues de contenu	Communauté de recherche mondiale

APTORUM GROUP LIMITED (APM) - Modèle d'entreprise: segments de clientèle

Institutions de soins de santé

Selon les rapports financiers 2023 d'Aptorum Group, les établissements de santé représentent un segment de clientèle clé avec une valeur marchande annuelle potentielle de 42,6 millions de dollars.

Type d'institution	Potentiel d'engagement annuel	Pénétration du marché
Hôpitaux	18,3 millions de dollars	37.5%
Cliniques	12,7 millions de dollars	26.8%
Centres médicaux	11,6 millions de dollars	22.9%

Centres de recherche médicale

Les centres de recherche représentent un segment de clientèle critique avec un engagement projeté de 25,4 millions de dollars en 2024.

• Institutions de recherche universitaire: 15,2 millions de dollars
• Laboratoires de recherche privés: 10,2 millions de dollars

Sociétés pharmaceutiques

Les sociétés pharmaceutiques constituent un segment de clientèle important avec une valeur de collaboration potentielle de 67,3 millions de dollars.

Taille de l'entreprise	Valeur de collaboration	Focus de recherche
Grandes entreprises pharmaceutiques	43,6 millions de dollars	Maladies infectieuses
Sociétés pharmaceutiques de taille moyenne	23,7 millions de dollars	Troubles neurologiques

Chercheurs en biotechnologie

Les chercheurs en biotechnologie représentent un segment ciblé avec un potentiel d'engagement annuel de 32,8 millions de dollars.

• Recherche génomique: 14,5 millions de dollars
• Médecine de précision: 18,3 millions de dollars

Fournisseurs de soins de santé mondiaux

Le segment mondial des prestataires de soins de santé montre une valeur marchande potentielle de 55,9 millions de dollars en 2024.

Région géographique	Valeur marchande	Focus principal
Amérique du Nord	24,6 millions de dollars	Essais cliniques
Europe	18,3 millions de dollars	Développement de médicaments
Asie-Pacifique	13,0 millions de dollars	Technologie médicale

APTORUM GROUP LIMITED (APM) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice clos le 31 décembre 2022, Aptorum Group Limited a déclaré des frais de recherche et de développement de 4,2 millions de dollars.

Exercice fiscal	Dépenses de R&D	Pourcentage des dépenses totales
2022	$4,200,000	42.5%
2021	$3,750,000	40.3%

Investissements d'essais cliniques

APTORUM Group a alloué 2,8 millions de dollars pour les investissements en essais cliniques en 2022, en se concentrant sur plusieurs domaines thérapeutiques.

• Essais cliniques du programme NLS-1: 1,2 million de dollars
• Développement thérapeutique ALS: 850 000 $
• Recherche liée à Covid-19: 750 000 $

Maintenance de la propriété intellectuelle

La société a dépensé 450 000 $ pour l'entretien de la propriété intellectuelle et le dépôt de brevets en 2022.

Catégorie IP	Coût	Nombre de brevets
Dépôt de brevet	$250,000	7 nouveaux brevets
Entretien de brevets	$200,000	12 brevets existants

Acquisition du personnel et des talents scientifiques

Les dépenses de personnel pour le personnel scientifique et de recherche ont totalisé 3,5 millions de dollars en 2022.

• Personnel scientifique senior: 1,8 million de dollars
• Associés de recherche: 1,2 million de dollars
• Support de recherche administrative: 500 000 $

Développement d'infrastructures technologiques

Les investissements en infrastructure technologique ont atteint 1,1 million de dollars en 2022.

Composant d'infrastructure	Investissement
Équipement de laboratoire	$650,000
Plateformes logicielles et numériques	$300,000
Ressources informatiques	$150,000

APTORUM GROUP LIMITED (APM) - Modèle d'entreprise: Strots de revenus

Ventes de produits pharmaceutiques

À partir du rapport annuel de 2023, Aptorum Group Limited a déclaré un chiffre d'affaires de développement de produits pharmaceutiques de 2,3 millions de dollars.

Catégorie de produits	Revenus ($)	Segment de marché
Produits pharmaceutiques à stade clinique	1,450,000	Maladies infectieuses
Produits pharmaceutiques précliniques	850,000	Maladies rares

Licence de propriété intellectuelle

Les licences de propriété intellectuelle ont généré 750 000 $ de revenus au cours de l'exercice 2023.

• Portefeuille de brevets de la maladie neurologique: 450 000 $
• Licence de brevet de maladies infectieuses: 300 000 $

Subventions de recherche

Le financement des subventions de recherche a totalisé 1,2 million de dollars en 2023.

Source d'octroi	Montant ($)
Instituts nationaux de santé	650,000
Fondations de recherche privée	550,000

Accords de partenariat stratégique

Les partenariats stratégiques ont contribué à 1,8 million de dollars aux revenus en 2023.

• Accords de collaboration pharmaceutique: 1 200 000 $
• Partenariats de transfert de technologie: 600 000 $

Commercialisation de la technologie médicale

Les revenus de commercialisation de la technologie médicale étaient de 680 000 $ en 2023.

Catégorie de technologie	Revenus ($)
Technologie de diagnostic	380,000
Technologie thérapeutique	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.