Apnimed (APMD) investor relations material

Company overview and business model

• Focuses on developing and commercializing novel oral therapies for sleep-related breathing diseases, with Oxnimbi as the lead product candidate for obstructive sleep apnea (OSA).

• Oxnimbi is a fixed-dose combination of a novel anti-muscarinic and a selective norepinephrine reuptake inhibitor, targeting neuromuscular dysfunction in OSA.

• Submitted a New Drug Application (NDA) for Oxnimbi to the FDA in April 2026 after successful Phase 3 trials.

• Market opportunity includes an estimated 80 million adults in the U.S. and one billion globally with OSA, with a significant portion undiagnosed or untreated.

• Business model includes potential expansion into preclinical programs for other sleep-related breathing disorders.

Financial performance and metrics

• For the three months ended March 31, 2026, reported net income of $67.7 million, compared to a net loss of $28.6 million for the same period in 2025, primarily due to a change in revenue recognition related to a joint venture disposition.

• For the year ended December 31, 2025, reported a net loss of $128.2 million, compared to a net loss of $111.3 million in 2024.

• As of March 31, 2026, had cash and cash equivalents of $46.9 million and an accumulated deficit of $329.6 million.

• Completed a $100 million asset sale and raised $25 million in Series D-1 preferred stock in early 2026.

• Entered into a $150 million term loan facility, with $50 million drawn as of April 2026.

Use of proceeds and capital allocation

• Net proceeds from the IPO, together with existing cash, will fund regulatory approval and commercial launch of Oxnimbi, as well as other R&D activities, working capital, and general corporate purposes.

• May use a portion of proceeds for in-licensing, acquisitions, or investments in complementary businesses or technologies.