Aptorum Group Limited filed its Form 20-F annual report for the year ended December 31, 2025, disclosing ongoing operational streamlining, paused R&D activities pending a merger with DiamiR Biosciences, reduced net loss to $1.4 million, and substantial going concern doubt.
Key takeaways
Net loss narrowed to $1.4M in 2025 from $4.2M in 2024, driven by R&D expense cut to $0.4M from $2.2M after suspending non-lead projects.
R&D paused since 2024 to focus on proposed merger with DiamiR Biosciences, extended to June 30, 2026; no revenue generated.
Raised $4.8M via registered direct offerings in Jan ($3.1M) and Oct 2025 ($2.0M), net $4.4M financing inflow.
Ongoing litigation in SDNY alleging RICO/fraud claims; motion to dismiss fully briefed and pending.
$3.0M convertible note to Jurchen (Ian Huen entity) extended to Sep 2026, convertible at $2.42/share.
Negative working capital $1.0M, accumulated deficit $73.8M; substantial doubt about going concern.