Earnings Results Under Review: Aptorum Group Limited (NASDAQ:APM)

Aptorum Group Limited (NASDAQ:APM) closed with gain/decline of +0.77% to $26.30. Recent traded volume was 4,529 shares versus to it an average volume of 8,276 shares. The stock day range was recorded between a low of $26.00 and a high $26.42. APM is recorded at 1.66 and the relative strength index of the stock stands 54.83. Analyst recommendation for this stock stands at 2.00.

Aptorum Group Ltd. (APM) recently provided a business update and reported financial results for the fiscal year ended December 31, 2018.

Recent Business Updates

  • Successfully completed an initial public offering (“IPO”) on the Nasdaq Global Market of 761,419 Class A ordinary shares at a public offering price of $15.8 per shares
  • Private placement of convertible bonds in April 2018 of $15M of which $1.5M was converted into Class A ordinary shares upon IPO in December 2018
  • Full year 2018 research and development expenses of $3.1M, raised $0.5M contrast to the period March 1, 2017 to December 31, 2017

2018 Fiscal Year Financial Results Highlights

Aptorum Group stated a net loss of $15.1M in 2018, as contrast to $2.6M for the period March 1, 2017 through December 31, 2017. The raise in net loss in 2018 was driven by the decrease in gain on investment in marketable securities Because of the a one-off investment disposed in last period, raised in general and administration fees Because of the raised headcount in the Group to support the business development, and raised in net interest expenses Because of the convertible debts issued in 2018.

Research and development expenses were $3.1M in 2018 as contrast to $2.6M for the period March 1, 2017 through December 31, 2017. The raise in research and development expenses in 2018 was primarily Because of the expansion of research and development team to support growing business and projects.

General and administrative fees were $4.9M in 2018 as contrast to $1.5M for the period March 1, 2017 through December 31, 2017. The raise in general and administrative expenses 2018 was mainly driven by raised headcount in the Group to support the business development.

Legal and professional fees were $1.8M in 2018 as contrast to $1.4M for the period March 1, 2017 through December 31, 2017. The raise in legal and professional fees was mainly Because of the preparation of IPO and business expansion.

Aptorum Group ended the 2018 with $26.1M in cash and restricted cash as contrast to $16.7M as of December 31, 2017. The raise in cash and restricted cash was mainly the result of the $15M of convertible bonds issued during the year.

The average true range of the stock is observed at 1.66 and the relative strength index of the stock is recorded at 54.83. APM is moving down from its 20 days moving average with -6.17% and isolated positively from 50 days moving average with 18.01%. The short ratio in the company’s stock is documented at 2.09 and the short float is around of 0.43%.

Leave a Reply

Your email address will not be published. Required fields are marked *