Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 240

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 240
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,473 |   |     |   |   26,068 |   |
| Net loss before income taxes       |     |                           |          (479,364 | ) |     |   |          (373,090 | ) |     |   |  106,274 |   |
| Income taxes                       |     |                           |            14,346 |   |     |   |            82,383 |   |     |   |  (68,037 | ) |
| Net loss                           |     | $                         |          (493,710 | ) |     | $ |          (455,673 | ) |     | $ |   38,037 |   |

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Revenue

Grant revenue was $531,729 for the nine months ended February 28, 2025
compared to $990,443 for the nine months ended February 29, 2024. The decrease was due to lower reimbursable direct labor, consulting
and other development expenses for DiamiR’s CogniMIR product candidate and, subsequently, the depletion of available
grant funding in January 2025. As of February 28, 2025, DiamiR has no remaining funds under its grants.

As of February 28, 2025, DiamiR has received and applied all available
funding under its grants and grant revenues will decrease significantly or cease in future periods.

Other revenue in the nine months ended February 28, 2025 consists of
nonrecurring fees from a non-customer under a material transfer agreement.

Research and Development Expenses

DiamiR expenses the cost
of research and development as incurred. Research and development expenses comprise costs incurred in performing research and development
activities, including clinical study costs, contracted services, personnel costs, including stock-based compensation, and other external
costs. Personnel costs include the majority of compensation paid to DiamiR’s CEO, representing his participation in research and
development activities. Nonrefundable advance payments for goods and services that will be used in future research and development activities
are expensed when the activity is performed or when the goods have been received, rather than when payment is made, in accordance with
Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) ASC 730, Research and Development.

Research and Development expense was $548,486 for the nine months ended
February 28, 2025, compared to $873