Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 238

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 238
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 losses and negative cash flows for the foreseeable future. These net
losses and negative cash flows have had, and will continue to have, an adverse effect on DiamiR’s stockholders’ equity and
working capital.

To date, DiamiR has financed
its operations through grant funding, including SBIR grants of approximately $9.7 million, an Alzheimer’s Drug Discovery Foundation
(ADDF) Award of $492,000, the sale of DiamiR equity securities to its founders in the total aggregate amount of $350,000 and borrowings
from its founders in the total aggregate amount of $1,075,000. In addition, while DiamiR has not earned revenue from its planned primary
operations, DiamiR has received fees for performing specified clinical and other testing services from commercial entities from time
to time. DiamiR has not, however, received such fees since March 2022. The amount of DiamiR’s future net losses will depend, in
part, on the rate of future growth of its expenses and DiamiR’s ability to generate revenues. If DiamiR is unable to develop and
commercialize CogniMIR or any other product candidates that it may seek to develop, either alone or with collaborators,
or if revenues from any product candidate that receives marketing approval are insufficient, DiamiR will not achieve profitability. Even
if DiamiR does achieve profitability, DiamiR may not be able to sustain or increase profitability.

Since inception, DiamiR has
raised over $9.7 million in grant funding from government agencies and disease foundations. On October 1, 2020, DiamiR announced that
it received two grants from the National Institutes of Health (NIH) in the total amount of approximately $3.86 million. The National
Institute on Aging (NIA) awarded DiamiR approximately $3.36 million in a Commercialization Readiness Pilot (CRP) grant as part of its
Small Business Innovation Research (SBIR) program. The award builds upon earlier studies conducted by DiamiR in collaboration with leading
academic centers and continues to support development of CogniMIR, DiamiR’s lead diagnostic product candidate for
early detection and monitoring of mild cognitive impairment and AD. The second award of $498,572 was granted to DiamiR by the National
Institute for Neurological Disorders and Stroke (NINDS) for a project entitled “Circulating Organ-enrich