Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 267

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 267
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<div align='center'>148</div>

On July 4, 2025, H.R.1,
the One Big Beautiful Bill Act (“OBBBA”) was enacted in the United States. The OBBB eliminates the requirement under
Internal Revenue Code Section 174 to capitalize and amortize U.S.-based research and experimental expenditures over five years,
making these expenditures fully deductible in the period incurred, among other provisions. The Company is currently evaluating the impact
on its consolidated financial statements of the provisions of the OBBBA, which may result in a significant reduction of recorded income
tax liabilities. The provisions were not effective as of May 31, 2025 and their effects, if any, are expected to be recorded in the
Company’s consolidated financial statements for the year ending May 31, 2026.

Liquidity and Capital Resources

Sources of Liquidity

To date, DiamiR has generated
minimal revenue from its planned principal operations. DiamiR has funded its operations to date primarily through grant funding, an equity
investment from Alzheimer’s Drug Discovery Foundation, sales of its equity securities to DiamiR’s founders and borrowings
from DiamiR’s founders.

SBIR Grants

Since DiamiR’s inception,
it has raised over $9.7 million in grant funding from government agencies and disease foundations, including the following two grants.
In October 2020, DiamiR received two grants from the National Institutes of Health (NIH) in the total amount of approximately $3.86 million.
The National Institute on Aging (NIA) awarded DiamiR approximately $3.36 million in a Commercialization Readiness Pilot (CRP) grant
as part of its Small Business Innovation Research (SBIR) program. The award supported development of CogniMIR, DiamiR’s
lead diagnostic product candidate for early detection and monitoring of mild cognitive impairment and AD. The second award of $0.5 million
was granted to DiamiR by the National Institute for Neurological Disorders and Stroke (NINDS) for a project entitled “Circulating
Organ-enriched microRNAs as biomarkers of Rett Syndrome.” As of May 31, 2025, DiamiR had received and applied all of its existing
grant funding. DiamiR expects net cash used in operating activities may increase significantly in future periods as a result of unfunded
research and development expenses.

Founders Equity

DiamiR was capitalized by its