Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 203

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 203
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 period, such as right-of-use assets, which resulted from the decision to terminate clinic services in
the second quarter of 2023, and allowance of credit losses for amount due from related parties, which results from the decision to suspend
non-lead projects owned by the related party.

Other income, net

For the years ended December 31, 2023, and 2022, the other income,
net was $6,383,276 and $5,984,011, respectively. The increase in other income, net was mainly due to the increase in unrealized gain
from fair value change of the long-term investments, net.

Net loss attributable to Aptorum Group Limited

For the years ended December 31, 2023, and 2022, net loss attributable
to Aptorum Group Limited (excluding net loss attributable to non-controlling interests) was $2,824,647 and $9,799,560, respectively.

B.

The Group reported a net loss of $4,157,737 and net operating cash
outflow of $1,189,734 for the year ended December 31, 2024. In addition, the Group had an accumulated deficit of $72,429,528 as of December
31, 2024. On January 2, 2025, the Group entered into a certain securities purchase agreement with certain non-affiliated institutional
investors pursuant to which the Group sold 1,535,000 Class A Ordinary Shares of the Group, par value $0.00001 per share at a per share
price of $2.00 in a registered direct offering, for gross proceeds of $3,070,000. The Group’s operating results for future periods
are subject to numerous uncertainties and it is uncertain if the Group will be able to reduce or eliminate its net losses for the foreseeable
future. If management is not able to generate significant revenues from its product candidates currently in development, the Group may
not be able to achieve profitability. Successful transition to attaining profitable operations is dependent upon achieving a level of
revenues adequate to support the Company’s cost structure. In connection with the Company’s assessment of going concern considerations
in accordance with Financial Accounting Standard Board’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures
of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that these conditions
raise substantial doubt about the Company’s ability to continue as a going concern within