APUS · Apimeds Pharmaceuticals US, Inc

Apimeds Pharmaceuticals US, Inc. has disclosed a significant delay in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The company initially filed a Notification of Late Filing on Form 12b-25 on March 31, 2026, citing ongoing preparation of financial statements and additional time needed for audit completion by its independent registered public accounting firm. Importantly, the company now expects it will not be able to file within the 15-calendar day extension period provided under Rule 12b-25. This delay has direct regulatory consequences: the company anticipates receiving a notice from NYSE American indicating non-compliance with continued listing requirements due to the untimely filing. Such a notice would typically provide a period for the company to submit a compliance plan. While the company is working to complete the Form 10-K and targets a filing by April 30, 2026, it explicitly states there is no assurance this deadline will be met. For investors, this event signals potential internal control or financial reporting challenges, creates regulatory uncertainty regarding the company's listing status, and delays access to critical annual financial information.