Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 190

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 190
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 estimates could result in outcomes that could require a material adjustment to the carrying amount of the
assets or liabilities in the future.

We consider an accounting
estimate to be critical if: (i) the accounting estimate requires us to make assumptions about matters that were highly uncertain at the
time the accounting estimate was made, and (ii) changes in the estimate that are reasonably likely to occur from period to period or use
of different estimates that we reasonably could have used in the current period, would have a material impact on our financial condition
or results of operations. The management determines there are no critical accounting estimates.

<div align='center'>93

COMPANY’S BUSINESS</div>

We are a clinical stage biopharmaceutical
company dedicated to the discovery, development and commercialization of therapeutic assets to treat diseases with unmet medical needs,
particularly in oncology (including orphan oncology indications) and infectious diseases.

The Company now focuses all
of its efforts on R&D and therefore no longer performs any therapeutic services. While the Company may commence therapeutic services
in the future, as of December 31, 2024 and the date hereof, it only operates in one segment.

Our goal is to develop a broad
range of novel and repurposed therapeutics and diagnostics technology across a wide range of disease/therapeutic areas. Key components
of our strategy for achieving this goal include: (for details of our strategy, See “Business Overview – Our Strategy”)

| ● | Developing therapeutic and diagnostic innovations across a wide range of disease/therapeutic areas; |

| ● | Selectively expanding our portfolio with potential products that may be able to attain orphan drug designation and/or satisfy current unmet medical needs; |

| ● | Collaborating with leading academic institutions and CROs; |

| ● | Expanding our in-house pharmaceutical development center; |

| ● | Leveraging our management’s expertise, experience and commercial networks; |

| ● | Obtaining and leveraging government grants to fund project development. |

We have devoted a substantial portion of the proceeds from our offerings,
to our Lead Projects. Our Lead Projects are ALS-4 and SACT-1. In March 2023, we announced that we completed the Pre-IND discussions with
the US FDA on ALS-4. In March 2023, we also announced the completion of the End of Phase 1 (EOP1) meeting of SACT-1 with the US FDA. The
FDA generally agreed with the chemistry-manufacturing-control (CM