Aptorum Group Limited Reports 2023 Fiscal Year End Financial Results and Provides Business Update
Aptorum Announces Entering into an Agreement and Plan of Merger with YOOV
NEW YORK & LONDON--(BUSINESS WIRE)--Aptorum Group Limited (NASDAQ: APM) (“Aptorum Group” or the “Company”), a clinical stage biopharmaceutical company dedicated to meeting unmet medical needs in oncology, autoimmune and infectious diseases, today provided a business update and announced financial results for the six months ended June 30, 2023.
Aptorum Announces Results of 2023 Annual General Meeting of Shareholders
Aptorumto Hold Annual General Meeting of Shareholders on December 20, 2023
Aptorum Group Receives Nasdaq Approval to Transfer Listing to Nasdaq Capital Markets
Aptorum Group Limited (Nasdaq: APM, Euronext Paris: APM) (“Aptorum Group” or “Aptorum”), a clinical stage biopharmaceutical company dedicated to meeting unmet medical needs in oncology, autoimmune diseases and infectious diseases, today announced that it has received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) Listing Qualifications Department notifying the Company that it is not currently in compliance with the minimum stockholders' equity requirement for continued listing on the Nasdaq Global Market. Nasdaq Listing Rule 5450(b)(1)(A) requires listed companies to maintain stockholders’ equity of at least $10,000,000, and the Company’s stockholders’ equity was $7,833,305 as of December 31, 2022. In accordance with Nasdaq rules, the Company has 45 calendar days, or until June 20, 2023, to submit a plan to regain compliance. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from the date of the letter, or until October 31, 2023, to evidence compliance. If Nasdaq does not accept the Company’s compliance plan, the Company may appeal the decision to a Hearing’s Panel. Alternatively, the Company may consider applying to transfer the Class A Ordinary Shares to The Nasdaq Capital Market. The Nasdaq deficiency letter has no immediate effect on the listing of the Company’s Class A Ordinary Shares, and its Class A Ordinary Shares will continue to trade on The Nasdaq Global Market under the symbol “APM” at this time.
Aptorum Group Limited (Nasdaq: APM, Euronext Paris: APM) (“Aptorum Group” or “Company”), today announced that its wholly owned subsidiary Aptorum Therapeutics Limited (“ATL”) has entered into a non-binding Letter of Intent and Term Sheet (“Term Sheet”) to merge (“Transaction”) its 100% subsidiary, Paths Innovation Limited and its underlying business (collectively “PathsDx Group”) with Universal Sequencing Technology Corporation (“UST”), a San Diego and Boston based US company dedicated to the development and commercialization of advanced proprietary DNA sequencing technologies. Paths Innovation Limited currently holds, through its majority owned subsidiary Paths Diagnostics Pte. Limited, the PathsDx technology – a liquid biopsy NGS based technology for the diagnostics of infectious diseases. As consideration of the Transaction upon closing, ATL will become a shareholder of the combined company.
Aptorum Group Limited Reports 2022 Fiscal Year End Financial Results and Provides Business Update
Aptorum Group Enters into Letter of Intent and Term Sheet To Acquire U Group