Apnimed, Inc. (APMD) reported the initial beneficial ownership of its Chief Financial Officer, Michael B. Kelly, on a Form 3. Kelly holds a stock option to purchase 333,580 shares of Class A Common Stock at an exercise price of $8.15 per share, expiring on June 23, 2036, held directly.
According to the vesting terms, 25% of the option shares vest and become exercisable after twelve months of continuous service following June 22, 2026, and the remaining shares vest in substantially equal monthly installments over the subsequent 36 months, subject to his continued service.
Apnimed, Inc. (APMD) reported the initial equity holdings of director Paul R. Fonteyne in an initial statement of beneficial ownership. The filing lists two stock option awards over Class A Common Stock with specified exercise prices, share amounts, vesting schedules, and expiration dates.
One option allows purchase of 51,890 shares at $4.0000 per share, expiring on September 18, 2033, vesting 25% after twelve months of continuous service from September 18, 2023, with the remainder vesting in substantially equal quarterly installments over 36 months. A second option covers 44,477 shares at $8.1500 per share, expiring on July 7, 2036, with 25% vesting after twelve months of continuous service from July 7, 2026 and the remainder vesting in substantially equal quarterly installments over 36 months.
Apnimed, Inc. (APMD) reports that director Gary Sender holds two stock option awards. One option to acquire 51,890 shares of Class A Common Stock has an exercise price of $9.50 and expires on December 12, 2034. Another option to acquire 44,477 shares has an exercise price of $8.15 and expires on July 7, 2036. For each option, 25% of the shares vest after twelve months of continuous service from the specified start date, with the remaining shares vesting in substantially equal quarterly installments over the following 36 months, subject to continued service.
Apnimed, Inc. (APMD) reported that William A. Jones Jr. filed an initial statement of beneficial ownership on Form 3 in his capacity as a director of the company. The filing lists no reportable transactions or derivative positions and references an Exhibit 24 Power of Attorney.
Apnimed, Inc. (symbol APMD) reported that Chris Dimitropoulos is a director and filed an initial statement of beneficial ownership on Form 3. The filing lists no reportable holdings or transactions in Apnimed securities at this time and references an Exhibit 24 Power of Attorney.
Apnimed, Inc. (APMD) reported the initial beneficial ownership of its Chief Executive Officer, Kevin Robert Lind, in a Form 3. He holds stock options giving the right to purchase Class A Common Stock at exercise prices of $9.50 and $8.15, expiring in 2035 and 2036, respectively. These options cover 74,128 and 1,186,278 underlying shares and vest over time based on his continuous service, with 25% vesting after 12 months from the stated start dates and the remainder vesting in installments over the following 36 months.
Apnimed, Inc. (APMD) director Lawrence G. Miller filed an initial Form 3 reporting his existing equity interests. Indirect holdings include 10,845 shares of Series A Preferred Stock and multiple blocks of Class A Common Stock held through several irrevocable family trusts, for which he disclaims beneficial ownership except to the extent of any pecuniary interest. The filing also lists several stock options to buy Class A Common Stock, including options over 688,042 shares at an exercise price of $1.00 per share expiring in 2029, with other options at higher exercise prices and later expirations. The Series A Preferred Stock is convertible into Class A Common Stock on a one-for-one basis and will convert immediately prior to the closing of an initial public offering without additional consideration.
Apnimed, Inc. plans an initial public offering of 10,000,000 shares of common stock at an expected price range of $14.00–$16.00 per share, with an underwriters’ option for up to 1,500,000 additional shares. At the $15 midpoint, it expects net proceeds of about $134.6 million, leaving 37,999,640 shares outstanding.
The company is a late-stage clinical pharmaceutical business focused on sleep-related breathing disorders. Its sole clinical candidate, Oxnimbi (AD109), showed statistically significant reductions in apnea hypopnea index and hypoxic burden in two Phase 3 OSA trials, and an NDA was accepted by the FDA with a PDUFA goal date of February 28, 2027.
Apnimed reported $84.8 million in related-party revenue and net income of $67.7 million in the quarter ended March 31, 2026, but discloses substantial doubt about its ability to continue as a going concern and expects significant future losses. Offering proceeds plus cash are earmarked primarily to fund Oxnimbi’s regulatory review and, if approved, U.S. launch.