I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2025, the actual value is USD 0.
EPS: As of FY2025, the actual value is USD -0.55.
EBIT: As of FY2025, the actual value is USD -11.74 M.
Apimeds Pharmaceuticals US, Inc. operates in two segments: the biopharmaceutical segment (Lokahi Therapeutics Inc.) and the digital asset operations segment (MindWave Innovations Inc.). The company generated no revenue from biopharmaceutical operations during 2025 or 2024 . Proceeds from NILA Token sales are recognized as realized gains on digital assets, not revenue .
Consolidated Operational Metrics (Year Ended December 31)
- Research and Development Expenses: Increased to $1,632,581 in 2025 from $0 in 2024 .
- General and Administrative Expenses: Increased to $10,279,981 in 2025 from $1,275,095 in 2024 .
- Total Operating Expenses: Increased to $11,912,562 in 2025 from $1,275,095 in 2024 .
- Loss from Operations: Was -$11,912,562 in 2025 compared to -$1,275,095 in 2024 .
- Total Other Income (Expense): Was $5,911,425 in 2025 compared to -$114,895 in 2024 . This included an unrealized gain on digital assets of $1,812,348, a realized gain on sale of digital assets of $4,197,394, and trading gains, net of $97 .
- Net Loss: Was -$6,001,137 in 2025 compared to -$1,389,990 in 2024 .
Segmented Operational Metrics (Year Ended December 31, 2025)
- BioBusiness Segment:
- Revenue: $0 .
- Research and Development Expenses: $1,632,581 .
- General and Administrative Expenses: $7,179,165 .
- Total Operating Expenses: $8,811,746 .
- Loss from Operations: -$8,811,746 .
- Net Loss: -$8,811,746 .
- Digital Asset Segment:
- Revenue: $0 .
- Research and Development Expenses: $0 .
- General and Administrative Expenses: $3,100,816 .
- Total Operating Expenses: $3,100,816 .
- Loss from Operations: -$3,100,816 .
- Total Other Income (Expense), net: $6,009,317 .
- Net Income: $2,908,502 .
Consolidated Cash Flows (Year Ended December 31)
- Net cash used in operating activities: Was -$8,925,777 in 2025 compared to -$733,526 in 2024 .
- Net cash used in investing activities: Was -$10,060,351 in 2025 compared to $0 in 2024 . This included $8,000,000 deposited into a DACA restricted cash account and $2,000,000 invested in short-term instruments .
- Net cash provided by financing activities: Was $20,619,327 in 2025 compared to $326,500 in 2024 . This included $11,629,727 from IPO proceeds and $10,000,000 from a PIPE convertible note .
- Cash, cash equivalents, and restricted cash, end of period: Was $9,636,655 in 2025 compared to $3,455 in 2024 .
Unique Metrics: Digital Assets (Digital Asset Segment)
- Digital Asset Holdings (as of December 31, 2025):
- Bitcoin (BTC): $88,318,950 .
- Tether (USDT): $6,484,632 .
- NILA Tokens: $55,081,789 .
- Total Digital Assets: $149,885,371 .
- Digital Asset Activity (December 1, 2025 - December 31, 2025):
- Digital assets acquired in Merger: $146,305,021, comprising BTC ($90,838,200), USDT ($4,662,517), and NILA Tokens ($50,804,304) .
- Tokens sold (NILA for USDT): -$2,429,392, consisting of NILA ($-4,251,507) and USDT ($1,822,115) .
- Realized gain on sale of NILA Tokens: $4,197,394 .
- Unrealized gain (loss) recognized: $1,812,348, comprising BTC ($-2,519,250) and NILA Tokens ($4,331,598) .
Outlook / Guidance
Apimeds Pharmaceuticals US, Inc. anticipates continued significant operating losses as it advances the clinical development of Apitox and builds its operational infrastructure . Management plans to address near-term liquidity needs by continuing sales of NILA Tokens for USDT, pursuing additional tranches under the Securities Purchase Agreement, and seeking further equity or debt financing . However, there is no assurance that these financing efforts will be successful or available on acceptable terms .