Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 189

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 189
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---------------------------------------------------------------|:----|:-------|-----------:|
| Preclinical to IND filing                                      |     | $      |     30,000 |
| From entering phase 1 to before first commercial sale          |     |        |  2,120,000 |
| First commercial sale                                          |     |        |  1,600,000 |
| Net sales amount more than certain threshold in a year         |     |        | 14,000,000 |
| Subtotal                                                       |     | $      | 17,750,000 |
| Diagnostics technology: up to the conditions and milestones of |     |        |            |
| Before FDA approval                                            |     | $      |    146,417 |
|                                                                |     | $      | 17,896,417 |

For the years ended December
31, 2024, 2023 and 2022, the Group incurred $61,123, $50,000 and $nil milestone payments under license agreements, respectively. For the
years ended December 31, 2024, 2023 and 2022, the Group did not incur any royalties or research and development funding, respectively.

C.

As of the date hereof, the
Company has 2 exclusively licensed technologies in the area of infectious diseases, and diagnostics. In addition, the Company is actively
developing 1 proprietary technology.

For the years ended December
31, 2024, 2023, and 2022, the Group incurred $2,195,161, $5,198,329, and $9,219,595, respectively, on research and development expenses.

D.

Other than as disclosed elsewhere
herein, we are not aware of any material recent trends in production, sales and inventory, the state of the order book and costs and selling
prices since our last fiscal year. We are also unaware of any known trends, uncertainties, demands, commitments or events for the year
ended December 31, 2024, that are reasonably likely to have a material adverse effect on our revenues, net income, profitability, liquidity
or capital resources, or that would cause reported financial information not necessarily to be indicative of future operating results
or financial conditions.

E.

In preparing the consolidated
financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates
and assumptions that affect the amounts reported in our consolidated financial statements and accompanying notes. However, uncertainty
about these assumptions and