Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 60

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 60
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 eligibility criteria defined in the clinical protocol; |

| ● | the size of study population required for statistical analysis 
 of the trial’s primary endpoints;                              |

| ● | the proximity of patients to trial sites; |

| ● | the design of the trial and changes to the design of the trial; |

| ● | our ability to recruit clinical trial investigators with the 
 appropriate competencies and experience;                     |

| ● | competing clinical trials for similar therapies or other new                         
 therapeutics exist and will reduce the number and types of patients available to us; |

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| ● | clinicians’ and patients’ perceptions as to the                                                                                       
 potential advantages and side effects of the drug candidate being studied in relation to other available therapies, including any new 
 drugs or treatments that may be approved for the indications we are investigating;                                                    |

| ● | our ability to obtain and maintain patient consents; |

| ● | patients enrolled in clinical trials may not complete a clinical 
 trial; and                                                       |

| ● | the availability of approved therapies that are similar to our 
 drug candidates.                                               |

Even if we are able to enroll
a sufficient number of patients in our clinical trials, delays in patient enrollment may result in increased costs or may affect the timing
or outcome of the planned clinical trials, which could prevent completion of these trials and adversely affect our ability to advance
the development of our drug candidates.

Clinical drug development involves a lengthy and expensive process and could fail at any stage of the process. We have limited experience in conducting clinical trials and results of earlier studies and trials may not be reproduced in future clinical trials.

For our drug candidates, clinical
testing is expensive and can take many years to complete, while failure can occur at any time during the clinical trial process.
The results of studies in animals and early clinical trials of our drug candidates may not predict the results of later-stage clinical
trials. Drug candidates in later stages of clinical trials may fail to show the desired safety and efficacy traits despite having progressed
through studies in animals and initial clinical trials. In some instances, there can be significant variability in safety and/or efficacy
results between different trials of the same drug candidate due to numerous factors, including changes in trial procedures set forth in
protocols, differences in the size and type of the patient populations (including genetic differences), patient adherence to the dosing
regimen and the patient dropout rate. Results in later trials may also differ from earlier trials due to a larger number of clinical trial
sites and additional