Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 200

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 200
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 (261,038 | ) |
| Total expenses                                                           |     |   |  (11,155,629 | ) |     |   |  (18,805,002 | ) |
| Other income, net                                                        |     |   |              |   |     |   |              |   |
| Loss on investments in marketable securities, net                        |     |   |       (9,266 | ) |     |   |     (134,134 | ) |
| Unrealized gain from fair value change of the long-term investments, net |     |   |    6,431,088 |   |     |   |    6,108,872 |   |
| Impairment loss of long-term investment                                  |     |   |      (77,200 | ) |     |   |     (520,821 | ) |
| Interest (expense) income, net                                           |     |   |     (121,145 | ) |     |   |      146,588 |   |
| Government subsidies                                                     |     |   |      123,015 |   |     |   |      335,499 |   |
| Sundry income                                                            |     |   |       36,784 |   |     |   |       48,007 |   |
| Total other income, net                                                  |     |   |    6,383,276 |   |     |   |    5,984,011 |   |
| Net loss                                                                 |     |   |   (4,340,975 | ) |     |   |  (11,525,102 | ) |

Revenue

Healthcare services income was $431,378 and $1,295,889 for the years
ended December 31, 2023, and 2022, which related to the service income derived from clinic. The decline in healthcare services income
was attributed primarily to the decision to terminate clinic services in the second quarter of 2023. This was done to reallocate resources
towards the development of the Company’s leading projects.

Cost of healthcare services

Cost of healthcare services was $420,812 and $1,215,824 for the years
ended December 31, 2023, and 2022, which related to the cost incurred by clinic. The decline in cost of healthcare services was aligned
with the decline in revenue when compared to last period.

Research and development expenses

The following table sets forth a summary