Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063906
Chunk: 296

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 296
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,531 for the year ended May 31, 2024 compared to $1,128,002 for the year ended May 31, 2023. The increase was due to increased reimbursable direct development expenses for DiamiR’s CogniMIR ®product candidate.

171 As of May 31, 2024, DiamiR was eligible to receive up to $0.5 million of additional funding to support qualified research and development expenses through August 2025 under the grants, subject to availability of funds and satisfactory progress, as determined by the NIH. DiamiR expects grant revenues to decrease significantly in future periods, after currently -availablegrant funding is used. 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 -basedcompensation, 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 $1,156,860 and $1,336,498 for the years ended May 31, 2024 and 2023, respectively. The decrease is due to a decrease of $252,275 in stock -basedcompensation expense partially, offset by higher personnel costs and consulting costs. Decreased stock -basedcompensation primarily reflects greater vesting of options to DiamiR’s CEO in the prior year ended May 31, 2023. Certain other options and RSUs awarded to our CEO vest upon the achievement of specified financing and development milestones not currently considered probable, for which significant stock -basedcompensation expense may be recognized in future periods. General and Administrative Expenses General and administrative expenses consist primarily of professional fees for legal, consulting, auditing, and tax services, patent costs and personnel costs, including stock -basedcompensation. Other general and administrative expenses include facility and office expenses, conference fees and travel. General and Administrative expense was $614,074 and $949,188 for the years ended May 31, 2024 and 2023, respectively.