# EDGAR Filing Document

**Accession Number:** 0001674365
**File Stem:** 0001104659-23-039151
**Filing Date:** 2023-3
**Character Count:** 14731
**Document Hash:** 8cdb2385bfabc5ff25ace80318b408d0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-039151.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001104659-23-039151

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230330

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aptinyx Inc.
- **CENTRAL INDEX KEY:** 0001674365
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 474626057
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38535
- **FILM NUMBER:** 23780874

**BUSINESS ADDRESS:**
- **STREET 1:** 1801 MAPLE AVENUE
- **STREET 2:** SUITE 4300
- **CITY:** EVANSTON
- **STATE:** IL
- **ZIP:** 60201
- **BUSINESS PHONE:** 847-871-0377

**MAIL ADDRESS:**
- **STREET 1:** 909 DAVIS STREET
- **STREET 2:** SUITE 600
- **CITY:** EVANSTON
- **STATE:** IL
- **ZIP:** 60201

?xml version="1.0" encoding="utf-8"?

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934**

**Date of Report (Date of Earliest Event Reported): March 30, 2023**

**APTINYX INC.** 

**(Exact name of registrant as specified in its charter)** 

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38535** | **47-4626057** |
| (State or other jurisdiction<br> of incorporation)<br>| (Commission<br> File Number)<br>| (I.R.S. Employer<br> Identification No.)<br>|

---

**909 Davis Street, Suite 600**

**Evanston, IL 60201**

(Address of principal executive offices, including zip code)

**(847) 871-0377**

(Registrant's telephone number, including area code)

**Not Applicable**

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.01 per share | APTX | The Nasdaq Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 2.02.** **Results of Operations and Financial Condition.**

On March 30, 2023, Aptinyx Inc. issued a press release announcing its financial results for the year ended December 31, 2022. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [99.1](tm2311035d1_ex99-1.htm) | [Press release issued by Aptinyx Inc. on March 30, 2023, furnished herewith](tm2311035d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data (embedded within the Inline XBRL document) |

---

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Aptinyx Inc.** | **Aptinyx Inc.** |
| Date: March 30, 2023 | By: | /s/ Ashish Khanna |
|  |  | Ashish Khanna<br> Chief Financial Officer and Chief Business Officer |

---

## Exhibit 99.1

#### Exhibit 99.1
![](tm2311035d1_ex99-1img02.jpg)

**Aptinyx Reports on Fourth Quarter and Full Year 2022 Results and Highlights and Review of Strategic Alternatives** 

EVANSTON, Ill., March 30, 2023 -- Aptinyx Inc. (Nasdaq: APTX) today reported recent business updates and financial results for the fourth quarter and full year 2022.

**Recent Business Updates**

&nbsp;&nbsp;&nbsp;&nbsp;· In March, Aptinyx completed an analysis of the data from the first 100 patients
enrolled in its Phase 2b clinical study of NYX-783 50 mg in patients with post-traumatic stress disorder (PTSD). The study was halted
in February prior to its completion in support of the company's preservation of capital. In the analysis, NYX-783 did not demonstrate
sufficient improvement on the study's primary endpoint to support continued advancement of the development program by Aptinyx.

&nbsp;&nbsp;&nbsp;&nbsp;· In March, Aptinyx engaged Ladenburg Thalmann as its exclusive financial advisor
to assist in the company's exploration and evaluation of strategic alternatives.

&nbsp;&nbsp;&nbsp;&nbsp;· In
 March, Aptinyx <u>announced</u> a reduction in its workforce by approximately 60% to reduce
 the company's operating costs and better align its workforce with the needs of its
 business as the company assesses strategic alternatives.

&nbsp;&nbsp;&nbsp;&nbsp;· In
 February, Aptinyx <u>announced</u> results from its Phase 2 clinical study of NYX-458 in
 patients with cognitive impairment associated with Parkinson's disease and dementia
 with Lewy bodies. Across the overall study population, NYX-458 did not demonstrate clinically
 meaningful improvements over placebo on the study's efficacy endpoints. The results
 do not support further advancement of the development program by the company.

&nbsp;&nbsp;&nbsp;&nbsp;· Aptinyx's NMDA receptor positive allosteric modulator, NYX-783, is
under development as a treatment for opioid use disorder (OUD), supported by a $5.6 million grant issued to researchers at Yale University
School of Medicine. The grant was awarded under the National Institutes of Health (NIH) Helping to End Addiction Long-term (HEAL) Initiative,
administered by the National Institute on Drug Abuse (NIDA), and funds the research and development of NYX-783 for the treatment of OUD.
A Phase 1 drug-drug interaction study is ongoing and is being administered by the Yale Interdisciplinary Stress Center through a research
collaboration with Aptinyx.

**Fourth Quarter and Full Year 2022 Financial Results**

**Cash Position**: Cash and cash equivalents were $56.2 million at December 31, 2022, compared to $106.1 million at December 31, 2021. The company had $25.0 million of debt principal under a capital credit facility with K2 HealthVentures, which remains currently outstanding.

**Collaboration Revenue:** Revenue was $0.0 million for the fourth quarter and full year 2022, as compared to $0.0 million and $1.0 million for same periods in 2021.

**Research and Development (R&D) Expenses:** R&D expenses were $7.2 million and $42.7 million for the fourth quarter and full year 2022, respectively, as compared to $14.1 million and $55.4 million for same periods in 2021. The decrease in R&D expenses during 2022 was primarily driven by decreased costs associated with the close out of clinical development activities across three Phase 2 clinical studies.

**General and Administrative (G&A) Expenses:** G&A expenses were $4.2 million and $19.8 million for the fourth quarter and full year 2022, respectively, as compared to $5.1 million and $20.1 million for the same periods in 2021.

**Net Loss:** Net loss was $12.1 million for the fourth quarter of 2022 compared to a net loss of $19.6 million for the same period in 2021. For the year ended December 31, 2022, net loss was $64.8 million, or basic and diluted net loss per share attributable to common stockholders of $0.96, compared to a net loss of $74.9 million, or basic and diluted net loss per share attributable to common stockholders of $1.11, for the year ended December 31, 2021.

**Forward-Looking Statements**

*Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the company's business plans and objectives, the company's ongoing evaluation of strategic alternatives, including future plans or expectations for NYX-783 and NYX-458, the safety, therapeutic effects, and stage of development of the company's product candidates and discovery platform, expectations regarding the design, implementation, timing, and success of its current and planned clinical studies, including providing updated guidance with respect thereto, the timing for the company's receipt and announcement of data from its clinical studies, the timing and outcome of discussions with FDA and other regulatory agencies, expectations regarding its preclinical development activities, expectations regarding its uses and sufficiency of capital, the company's growth and the anticipated contribution of its executive officers and management to its operations and progress, and its expectations regarding its uses of capital and expenses, and the effect of the COVID-19 pandemic on the foregoing. Risks that contribute to the uncertain nature of the forward-looking statements include: the effect of the COVID-19 pandemic on our business and financial results, including with respect to disruptions to our clinical trials, business operations, and ability to raise additional capital; the success, cost, and timing of the company's product candidate development activities and clinical studies; the company's ability to execute on its strategy; including its ongoing strategic evaluation; the company's estimates regarding expenses, future revenue, and capital requirements; as well as those risks and uncertainties set forth in the company's most recent quarterly report on Form 10-Q and subsequent filings with the Securities and Exchange Commission, including our upcoming Annual Report on Form 10-K for the year ended December 31, 2022. Potential strategic alternatives that may be explored or evaluated as part of the company's ongoing evaluation include the potential for a merger, business combination, investment into the company, asset sale or other strategic transaction. No timetable has been established for the completion of this process, and the we do not expect to disclose developments unless and until the Board of Directors has concluded that disclosure is appropriate or required. All forward-looking statements contained in this press release speak only as of the date on which they were made. Aptinyx disclaims any intention to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.*

 

 

**APTINYX INC.<br> CONDENSED BALANCE SHEETS<br> (in thousands)**<br> *(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **December 31, 2022** | **December 31, 2021** |
| **Assets** |  |  |
| Current Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $56205 | $106124 |
| &nbsp;&nbsp;&nbsp;Restricted cash | 179 | 197 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 7646 | 8422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 64030 | 114743 |
| Property and equipment and other long-term assets | 2654 | 185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $66684 | $114928 |
| **Liabilities and stockholders' equity** |  |  |
| Current Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $724 | $622 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 2772 | 5064 |
| &nbsp;&nbsp;&nbsp;Term loan, current | 2795 | ---- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 6291 | 5686 |
| Other long-term liabilities | 22108 | 14486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 28399 | 20172 |
| Stockholders' equity | 38285 | 94756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $66684 | $114928 |

---

**APTINYX INC.<br> CONDENSED STATEMENTS OF OPERATIONS<br> (in thousands, except per share data)**<br> *(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended <br> December 31,** | **Three Months Ended <br> December 31,** | **Year Ended** <br> **December 31,** | **Year Ended** <br> **December 31,** |
|  | **2022** | **2021** | **2022** | **2021** |
| Collaboration revenue | $— | $— | $— | $1000 |
| Operating expenses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Research and development | 7230 | 14056 | 42748 | 55444 |
| &nbsp;&nbsp;&nbsp;General and administrative | 4196 | 5116 | 19819 | 20090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 11426 | 19172 | 62567 | 75534 |
| &nbsp;&nbsp;&nbsp;Loss from operations | (11426) | (19172) | (62567) | (74534) |
| &nbsp;&nbsp;&nbsp;Other income (expense) | (627) | (438) | (2282) | (352) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loss and comprehensive loss | $(12053) | $(19610) | $(64849) | $(74886) |
| &nbsp;&nbsp;&nbsp;Net loss per share - basic and diluted | $(0.18) | $(0.29) | $(0.96) | $(1.11) |
| &nbsp;&nbsp;&nbsp;Weighted average shares outstanding - basic and diluted | 67716 | 67716 | 67716 | 67220 |

---

**Investor & Media Contact:**

Patrick Flavin

Aptinyx Inc.

<u>ir@aptinyx.com</u> or <u>corporate@aptinyx.com</u>

847-871-0377

![](tm2311035d1_ex99-1img01.jpg)

Source: Aptinyx Inc.