Aptorum Group Limited Reports 2019 Fiscal Year End Financial Results and Provides Business Update
Aptorum Group’s operational plans remain on track. In particular, the recently announced updates on SACT-1 (targeting neuroblastoma) and ALS-4 (targeting Staphylococcus aureus) remain on track for its pre-IND preparation work. The Company will continue to target IND submission in the second half of 2020, subject to regulatory review of the IND application. With the additional capital raised in
Clinical Pipeline Update and Upcoming Milestones
In
Announced further positive data from the current investigational new drug (IND)-enabling studies for ALS-4, a small drug molecule candidate for the treatment of infections caused by Staphylococcus aureus. Subject to positive completion of the current studies,
Announced positive data and development in relation to our first repurposed drug candidate, SACT-1, for the treatment of neuroblastoma, a rare form of cancer that develops in infants and young children. Subject to completion of current validation studies,
Corporate Highlights
In 2019,
Full year 2019 research and development expenses of
In
In
Fiscal Year End Financial Results
Research and development expenses were
General and administrative fees were
Legal and professional fees were
About
For more information about the Company, please visit www.aptorumgroup.com.
Disclaimer and Forward-Looking Statements
This press release includes statements concerning
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For Years Ended
(Stated in |
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Year Ended
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Year Ended
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Revenue |
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Healthcare service income |
|
$ |
535,166 |
|
|
$ |
383,450 |
|
|
|
|
|
|
|
|
|
|
Operating expenses |
|
|
|
|
|
|
|
|
Cost of healthcare service |
|
|
(794,545 |
) |
|
|
(318,011 |
) |
Research and development expenses |
|
|
(6,939,051 |
) |
|
|
(3,101,432 |
) |
General and administrative fees |
|
|
(7,373,425 |
) |
|
|
(4,919,626 |
) |
Legal and professional fees |
|
|
(3,405,705 |
) |
|
|
(1,811,770 |
) |
Other operating expenses |
|
|
(220,891 |
) |
|
|
(560,709 |
) |
Total expenses |
|
|
(18,733,617 |
) |
|
|
(10,711,548 |
) |
|
|
|
|
|
|
|
|
|
Other (loss) income |
|
|
|
|
|
|
|
|
(Loss) gain on investments in marketable securities, net |
|
|
(81,839 |
) |
|
|
501,522 |
|
Gain on non-marketable investments |
|
|
1,147,190 |
|
|
|
- |
|
Gain (loss) on investments in derivatives, net |
|
|
87,599 |
|
|
|
(974,444 |
) |
Realized gain on use of digital currencies |
|
|
46,717 |
|
|
|
- |
|
Gain on extinguishment of convertible debts |
|
|
1,198,490 |
|
|
|
- |
|
Changes in fair value of warrant liabilities |
|
|
(866,300 |
) |
|
|
124,726 |
|
Interest expense, net |
|
|
(3,699,672 |
) |
|
|
(4,458,191 |
) |
Rental income |
|
|
16,868 |
|
|
|
- |
|
Sundry income |
|
|
232,460 |
|
|
|
- |
|
Total other loss, net |
|
|
(1,918,487 |
) |
|
|
(4,806,387 |
) |
|
|
|
|
|
|
|
|
|
Net loss |
|
|
(20,116,938 |
) |
|
|
(15,134,485 |
) |
Less: net loss attributable to non-controlling interests |
|
|
(1,430,176 |
) |
|
|
(302,762 |
) |
|
|
|
|
|
|
|
|
|
Net loss attributable to |
|
$ |
(18,686,762 |
) |
|
$ |
(14,831,723 |
) |
|
|
|
|
|
|
|
|
|
Net loss per share – basic and diluted |
|
$ |
(0.64 |
) |
|
$ |
(0.53 |
) |
Weighted-average shares outstanding – basic and diluted |
|
|
29,008,445 |
|
|
|
27,909,788 |
|
|
|
|
|
|
|
|
|
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Net loss |
|
$ |
(20,116,938 |
) |
|
$ |
(15,134,485 |
) |
|
|
|
|
|
|
|
|
|
Other Comprehensive loss |
|
|
|
|
|
|
|
|
Unrealized loss on investments in available-for-sale securities |
|
|
- |
|
|
|
(1,122,251 |
) |
Exchange differences on translation of foreign operations |
|
|
(10,897 |
) |
|
|
5,345 |
|
Other Comprehensive loss |
|
|
(10,897 |
) |
|
|
(1,116,906 |
) |
|
|
|
|
|
|
|
|
|
Comprehensive loss |
|
|
(20,127,835 |
) |
|
|
(16,251,391 |
) |
Less: comprehensive loss attributable to non-controlling interests |
|
|
(1,430,176 |
) |
|
|
(302,762 |
) |
|
|
|
|
|
|
|
|
|
Comprehensive loss attributable to the shareholders of |
|
|
(18,697,659 |
) |
|
|
(15,948,629 |
) |
CONSOLIDATED BALANCE SHEETS
(Stated in |
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ASSETS |
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Current assets: |
|
|
|
|
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|
|
|
Cash |
|
$ |
5,189,003 |
|
|
$ |
12,006,624 |
|
Restricted cash |
|
|
104,170 |
|
|
|
14,100,614 |
|
Digital currencies |
|
|
1,539 |
|
|
|
- |
|
Accounts receivable |
|
|
40,543 |
|
|
|
2,827 |
|
Inventories |
|
|
34,185 |
|
|
|
30,642 |
|
Marketable securities, at fair value |
|
|
1,063,111 |
|
|
|
1,014,338 |
|
Investments in derivatives |
|
|
203,320 |
|
|
|
115,721 |
|
Amounts due from related parties |
|
|
962 |
|
|
|
169,051 |
|
Due from brokers |
|
|
317,005 |
|
|
|
818,968 |
|
Other receivables and prepayments |
|
|
1,079,043 |
|
|
|
464,156 |
|
Total current assets |
|
|
8,032,881 |
|
|
|
28,722,941 |
|
Property, plant and equipment, net |
|
|
7,093,035 |
|
|
|
4,260,602 |
|
Non-marketable investments |
|
|
7,112,180 |
|
|
|
7,094,712 |
|
Intangible assets, net |
|
|
1,311,683 |
|
|
|
1,409,540 |
|
Amounts due from related parties |
|
|
50,000 |
|
|
|
50,000 |
|
Long-term deposits |
|
|
294,606 |
|
|
|
3,417,178 |
|
Other non-current asset |
|
|
59,833 |
|
|
|
119,667 |
|
Total Assets |
|
$ |
23,954,218 |
|
|
$ |
45,074,640 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
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|
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|
LIABILITIES |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Amounts due to related parties |
|
$ |
41,593 |
|
|
$ |
33,417 |
|
Accounts payable and accrued expenses |
|
|
2,586,527 |
|
|
|
1,247,147 |
|
Finance lease payable, current portion |
|
|
46,555 |
|
|
|
43,877 |
|
Warrant liabilities |
|
|
- |
|
|
|
753,118 |
|
Convertible debts |
|
|
- |
|
|
|
10,107,306 |
|
Total current liabilities |
|
|
2,674,675 |
|
|
|
12,184,865 |
|
Finance lease payable, non-current portion |
|
|
97,319 |
|
|
|
143,873 |
|
Loan payables to related parties |
|
|
6,330,472 |
|
|
|
- |
|
Total Liabilities |
|
$ |
9,102,466 |
|
|
$ |
12,328,738 |
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
EQUITY |
|
|
|
|
|
|
|
|
Class A Ordinary Shares ( |
|
$ |
6,597,362 |
|
|
$ |
6,537,269 |
|
Class B Ordinary Shares ( |
|
|
22,437,754 |
|
|
|
22,437,754 |
|
Additional paid-in capital |
|
|
24,887,624 |
|
|
|
23,003,285 |
|
Accumulated other comprehensive loss |
|
|
(5,552 |
) |
|
|
(1,484,688 |
) |
Accumulated deficit |
|
|
(37,555,980 |
) |
|
|
(17,379,185 |
) |
Total equity attributable to the shareholders of |
|
|
16,361,208 |
|
|
|
33,114,435 |
|
Non-controlling interests |
|
|
(1,509,456 |
) |
|
|
(368,533 |
) |
Total equity |
|
|
14,851,752 |
|
|
|
32,745,902 |
|
Total Liabilities and Equity |
|
$ |
23,954,218 |
|
|
$ |
45,074,640 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20200429005361/en/
Investor Relations
investor.relations@aptorumgroup.com
+852 2117 6611
407-491-4498
Media
info@aptorumgroup.com
+ 852 2117 6611
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