--- title: "Apimeds Pharmaceuticals US | 10-Q: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/287674277.md" datetime: "2026-05-26T20:08:40.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287674277.md) - [en](https://longbridge.com/en/news/287674277.md) - [zh-HK](https://longbridge.com/zh-HK/news/287674277.md) --- # Apimeds Pharmaceuticals US | 10-Q: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -2.26. EBIT: As of FY2026 Q1, the actual value is USD -11.33 M. Apimeds Pharmaceuticals US, Inc. operates in two segments: BioBusiness and Digital Asset, in addition to Corporate activities. The company did not generate revenue from either segment for the three months ended March 31, 2026, and 2025. #### Operating Expenses Consolidated total operating expenses increased by $11,821,326 year-over-year, reaching $12,185,694 for the three months ended March 31, 2026, compared to $364,368 for the same period in 2025. Research and development expenses for the BioBusiness segment were $901,144 for the three months ended March 31, 2026, up from $0 in the prior year. General and administrative expenses for the BioBusiness segment totaled $1,378,074, for the Digital Asset segment $1,660,921, and for Corporate $8,245,555 for the three months ended March 31, 2026. Consolidated general and administrative expenses were $11,284,550 for the three months ended March 31, 2026, compared to $364,368 for the same period in 2025. The 2026 figure includes an $8,113,318 non-cash charge for stock issued to a financial advisor, which is not expected to recur. #### Loss from Operations The BioBusiness segment reported a loss from operations of - $2,279,218, the Digital Asset segment reported - $1,660,921, and Corporate reported - $8,245,555 for the three months ended March 31, 2026. Consolidated loss from operations was - $12,185,694 for the three months ended March 31, 2026, compared to - $364,368 in 2025. #### Other Income (Expense), Net Consolidated total other income (expense) was - $22,874,158 for the three months ended March 31, 2026, an increase in expense of - $22,836,129 from - $38,029 in the prior year, primarily due to unrealized losses on digital asset holdings. The Digital Asset segment incurred an unrealized loss from changes in the fair value of digital assets of - $22,078,601 for the three months ended March 31, 2026, as the company did not hold digital assets in the comparable 2025 period. The Digital Asset segment also reported a realized gain on sale of digital assets of $15,100 and trading gains, net of $2,029 for the three months ended March 31, 2026. Consolidated interest expense was - $859,405 for the three months ended March 31, 2026, compared to - $38,032 in 2025. #### Net Loss Consolidated net loss for the three months ended March 31, 2026, was - $35,059,852, an increase from - $402,397 for the same period in 2025, mainly driven by losses on the fair value of cryptocurrency holdings and stock compensation expenses. #### Cash Flows Net cash used in operating activities was - $2,067,727 for the three months ended March 31, 2026, compared to - $20,313 for the same period in 2025. This included non-cash additions of $22,061,472 for changes in the fair value of cryptocurrency and $8,113,318 for stock compensation expenses in 2026. Net cash provided by investing activities amounted to $490,606 for the three months ended March 31, 2026, primarily from the redemption of short-term investments ($500,000) offset by purchases of property, plant, and equipment (- $9,394), compared to $0 in 2025. Net cash provided by financing activities was $920,000 for the three months ended March 31, 2026, mainly from proceeds from notes payable, partially offset by issuance costs, compared to $267,200 in 2025 from notes payable and cash advances from related parties. #### Unique Metrics As of March 31, 2026, the fair value of digital assets held by the company was $127,815,173, comprising $66,552,480 in Bitcoin (BTC), $6,491,176 in Tether (USDT), and $54,771,517 in NILA Tokens. This represents a decrease from December 31, 2025, when digital assets had a fair value of $149,885,371, which included $88,318,950 in BTC, $6,484,632 in USDT, and $55,081,789 in NILA Tokens. #### Future Outlook and Strategy Apimeds Pharmaceuticals US, Inc. is a development-stage biopharmaceutical company focused on the clinical development of Apitox for knee osteoarthritis through its BioBusiness segment, Lokahi Therapeutics Inc. Concurrently, through MindWave Innovations, the company manages digital assets like Bitcoin, Tether, and NILA tokens, and participates in the MindWaveDAO blockchain ecosystem. The company’s success is contingent on obtaining regulatory approvals for its biopharmaceutical products and the advancement of its Digital Asset segment, which is subject to cryptocurrency market volatility. The company anticipates that its cash, including unrestricted cash and Tether proceeds from the digital assets segment, will be sufficient to fund current operating plans for at least the next twelve months. ### Related Stocks - [APUS.US](https://longbridge.com/en/quote/APUS.US.md) ## Related News & Research - [Baxter Q2 2026 Earnings Preview](https://longbridge.com/en/news/294224876.md) - [REG - UIL Limited UIL Finance Ltd - Purchase of 2026 ZDP Shares](https://longbridge.com/en/news/294236682.md) - [Ciena's Q3 2026 Earnings: What to Expect](https://longbridge.com/en/news/293952665.md) - [JSL updates financial events calendar for 2026](https://longbridge.com/en/news/294067473.md) - [International Paper Q2 2026 Earnings Preview](https://longbridge.com/en/news/294266740.md)