Apimeds Pharmaceuticals Reports Increased Net Loss and IPO Completion

Apimeds Pharmaceuticals US, Inc. reported a net loss of $402,397 for the three months ending March 31, 2025, compared to a loss of $296,473 during the same period in 2024. The company's accumulated deficit has increased to $4,794,321 as of March 31, 2025. General and administrative expenses rose to $364,368, up from $271,726 in the prior year, primarily due to increased professional fees and payroll expenses. The company has not generated any revenue during this period, maintaining its status as a clinical-stage biopharmaceutical firm focused on developing its proprietary product, Apitox, a bee venom-based therapeutic.

In terms of financial position, Apimeds' total assets surged to $259,904 as of March 31, 2025, from just $13,057 at the end of 2024, largely due to increased cash reserves following a recent financing round. Current liabilities also increased significantly to $1,770,422, up from $1,024,334, driven by higher accounts payable and accrued expenses. The company's shareholders' deficit widened to $1,760,518, reflecting ongoing operational losses and increased liabilities.

Strategically, Apimeds has made significant moves, including the completion of its initial public offering (IPO) on May 12, 2025, which raised approximately $13.5 million in gross proceeds. This IPO involved the issuance of 3,375,000 shares at a price of $4.00 per share. Additionally, the company has converted its related party convertible notes into common stock, further strengthening its equity position. The company is also in discussions with the FDA regarding the next steps for Apitox, which has completed a positive Phase 3 trial for osteoarthritis treatment.

Operationally, Apimeds has not reported any customer counts or product adoption rates, as it remains in the pre-revenue stage. The company is focused on advancing its clinical trials and regulatory approvals, which are critical for future revenue generation. As of March 31, 2025, Apimeds had 7,903,850 shares of common stock outstanding, with no significant changes in employee headcount reported.

Looking ahead, Apimeds anticipates continued operational losses as it invests in research and development to bring Apitox to market. The company believes that the proceeds from its IPO, combined with existing cash reserves, will be sufficient to fund its operations for at least the next twelve months. However, the company acknowledges the inherent risks associated with clinical development and the uncertainty of achieving profitability in the future.