Apimeds Pharmaceuticals US, Inc. APUS
or "our") entered into and closed an Agreement and Plan of Merger (the "Merger Agreement"), with
Apimeds Merger Sub, Inc., a Delaware corporation ("Merger Sub"), MindWave Innovations Inc, a Delaware corporation ("MindWave"),
Lokahi Therapeutics, Inc., a Nevada corporation ("Bio Sub"), and Erik Emerson, solely in his capacity as representative
for the Bio Business (the "Bio Business Representative"). The transactions contemplated by the Merger Agreement are
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| R&D | $1.6M | — | $98.5K | — |
| SG&A | $10.3M | $1.3M | $648.9K | — |
| Total operating expenses | $11.9M | $1.3M | — | — |
| Operating income | -$11.9M | -$1.3M | -$747.4K | — |
| Interest expense | $283.0K | $117.7K | $38.1K | — |
| Net income | -$6.0M | -$1.4M | -$777.7K | — |
| EPS, basic | -0.55 | -0.18 | -0.17 | — |
| EPS, diluted | -0.55 | -0.18 | -0.17 | — |
| Shares, diluted (wtd. avg.) | $10.9M | $7.9M | $4.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $1.6M | $3.5K | $410.5K | $6.2K |
| Short-term investments | $2.0M | — | — | — |
| Total current assets | $14.0M | $13.1K | $422.1K | — |
| Property, plant and equipment | $51.6K | — | — | — |
| Total assets | $164.2M | $13.1K | $422.1K | — |
| Accounts payable | — | $591.2K | $54.4K | — |
| Short-term debt | — | $20.0K | — | — |
| Total current liabilities | $10.7M | $1.0M | $123.3K | — |
| Total liabilities | $10.8M | $1.4M | $390.2K | — |
| Retained earnings | -$10.4M | -$4.4M | -$3.0M | — |
| Total equity | $153.3M | -$1.4M | $31.9K | -$713.6K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$8.9M | -$733.5K | -$627.8K | — |
| Depreciation and amortisation | $5.7K | — | — | — |
| Stock-based compensation | $1.6M | — | $70.0K | — |
| Capital expenditure | $57.3K | — | — | — |
| Investing cash flow | -$10.1M | — | — | — |
| Financing cash flow | $20.6M | $326.5K | $1.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-051139.
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