Every 10-Q that Apimeds Pharmaceuticals US, Inc. (APUS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow APUS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full APUS filings page.
Apimeds Pharmaceuticals US, Inc. reported a net loss of $55.2 million for the six months ended June 30 2026, compared with $3.1 million a year earlier. Results reflect its dual structure: a clinical-stage BioBusiness developing APITOX for osteoarthritis pain and a Digital Asset segment holding Bitcoin, Tether and NILA tokens.
Digital assets were carried at $116.7 million, or 89% of total assets, and generated an unrealized loss of $35.3 million as prices declined, partially offset by realized and trading gains and $0.3 million of digital asset yield income. Operating expenses rose sharply, including $16.6 million of general and administrative costs with an $8.1 million non-cash advisory share charge and higher legal, advisory and public-company expenses.
Liquidity is strained: cash and cash equivalents were $278,371 with $8.0 million in restricted cash, while $5.0 million of short-term notes and a $10.9 million senior secured convertible note were current obligations. The company disclosed substantial doubt about its ability to continue as a going concern, is in discussions to extend or restructure debt, and faces NYSE American continued-listing risk after prior filing delays. A 1‑for‑10 reverse stock split became effective July 24 2026.
Apimeds Pharmaceuticals US, Inc. reported a net loss of $35.1 million for the three months ended March 31, 2026, compared with $0.4 million a year earlier. The loss was driven mainly by a $22.1 million unrealized loss on cryptocurrency holdings and a one-time $8.1 million non-cash stock charge for shares owed to its financial advisor.
The company, which has no revenue and is developing Apitox for knee osteoarthritis while also operating a digital asset segment, held digital assets at fair value of $127.8 million, down from $149.9 million at year-end 2025. Cash, cash equivalents and restricted cash totaled $9.0 million, with $2.1 million of cash used in operating activities in the quarter.
Apimeds warns that recurring losses, reliance on a $120.9 million PIPE facility (of which $10.9 million has been drawn and $8.0 million is restricted), and uncertainty about future draws raise substantial doubt about its ability to continue as a going concern. Subsequent events include a settlement of merger-related disputes, a forbearance agreement on defaults under its senior secured convertible note, and new high-return promissory notes. Management also discloses material weaknesses in internal control over financial reporting, noting its disclosure controls were not effective.
Apimeds Pharmaceuticals US, Inc. (APUS) reported Q3 2025 results. The company recorded a net loss of $1,781,255 for the quarter and $4,845,845 for the nine months ended September 30, 2025. Operating expenses rose as the company ramped research and development and expanded general and administrative activity.
Cash was $6,986,617 as of September 30, 2025. The company completed an IPO on May 12, 2025, issuing 3,375,000 shares at $4.00 per share and generating net proceeds of $11.9 million. Management states available cash, together with IPO proceeds, is sufficient to fund the current operating plan for at least the next twelve months from the financial statement issuance date.
R&D expenses were $619,693 in Q3, driven mainly by clinical trial costs, while G&A totaled $1,224,546. Shares outstanding were 12,575,983 as of September 30, 2025. Subsequent to quarter-end, the company paid a non-refundable fee of $700,000 to waive certain underwriting rights and approved 510,500 stock options at an exercise price of $1.92. Disclosure controls and procedures were deemed not effective due to material weaknesses in internal control over financial reporting.
Apimeds Pharmaceuticals US, Inc. reported interim results showing a May 12, 2025 IPO that sold 3,375,000 shares at $4.00 per share, generating net proceeds of approximately $11.9 million after underwriting discounts, offering expenses and the value of Advisor/Placement Agent warrants. Cash balances plus IPO proceeds are stated to be sufficient to fund operations for at least twelve months from the condensed financial statements issuance date. Shares outstanding increased to 12,575,983 at June 30, 2025 from 7,903,850 at December 31, 2024, reflecting the IPO and conversions of convertible notes. The company recognized stock-based compensation including $1.7 million in fully vested stock grants and stock option expense of $192,053. Advisor and placement agent warrants were recorded as liabilities or reductions to additional paid-in capital with remeasurement activity of $9,518. Convertible notes and promissory notes were amended, converted, or extended, and certain related-party financing activity is disclosed.