Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 494

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 494
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 value are recorded within other (expenses) income, net in the unaudited condensed consolidated statements of operations and comprehensive loss.

During the six months ended June 30, 2025 and 2024, there were no movement in annual upward or downwards adjustments and impairment recorded in other (expenses) income, net, and included as adjustments to the carrying value of non-marketable investments held as of June 30, 2025 and 2024 based on the observable price in an orderly transaction for the same or similar security of the same issuers.

During the six months ended June 30, 2025 and 2024, the Group did not sell any non-marketable investments or recorded any realized gains or losses for the non-marketable investments measured at fair value on a non-recurring basis.

The following table summarizes the total carrying value of the non-marketable investments held as of June 30, 2025 and December 31, 2024 including cumulative unrealized upward and downward adjustments and impairment made to the initial cost basis of the investments:

|                                               |     |            |   June 30, 
       2025 |   |     |   | December 31, 
         2024 |   |
|:----------------------------------------------|:----|:-----------|-----------:|:--|:----|:--|-------------:|:--|
|                                               |     | -Unaudited |            |   |     |   |              |   |
| Initial cost basis                            |     | $          |  4,079,707 |   |     | $ |    4,079,707 |   |
| Upward adjustments                            |     |            | 12,539,960 |   |     |   |   12,539,960 |   |
| Downward adjustments and impairment           |     |            | (1,520,821 | ) |     |   |   (1,520,821 | ) |
| Total carrying value at the end of the period |     | $          | 15,098,846 |   |     | $ |   15,098,846 |   |

The Group holds preferred stock of Alzheon, Inc. (“Alzheon”) with initial cost of $million. Pursuant to ASC 321-10-35-2, as the investment in Alzheon lacks readily determinable fair values, the Group elects to account for this investment using the measurement alternative.