Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 185

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 185
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 20-F, a discussion of the changes
in our results of operations for the years ended December 31, 2022, and 2021 has been omitted, but may be found in “Item 5. Operating
And Financial Review And Prospects” in our annual report on Form 20-F for the year ended December 31, 2022, filed with
the SEC on April 28, 2023.

A.

Overview

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 pipeline of Aptorum is also enriched through the co-development of
Paths Test, a novel molecular-based rapid pathogen identification and detection diagnostics technology with Accelerate Technologies
Pte Ltd, commercialization arm of the Singapore’s Agency for Science, Technology and Research.

Based on our evaluation of preliminary data and our consideration of
a number of factors including substantial unmet needs, benefits over existing therapies, potential market size, competition in market,
the Company decides how to prioritize its resources among projects. Overall, our rationale for selecting Lead Projects is not based on
any mechanical formula or rigid selection criteria, but instead focused on a combination of the factors and individual attributes of the
Lead Projects themselves.

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:

| ● | 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, SACT-1 and Paths.

During the second quarter of 2023, the Company made a decision to streamline
its operations by terminating clinic services and suspending non-lead R&D projects. This measure is aimed at optimizing the allocation
of