APMD (Apnimed Inc.) stock: $15.10, $628.6M market cap, $373.2M cash, $295.7M EV, $777.7M fully diluted market cap. Lead program: Aroxybutynin and Atomoxetine (OSA), Phase 3. Data from Fully Diluted's biotech stocks database.
What they do
The Company's lead product candidate, AD109 ("Oxnimbi"), is an investigational, fixed-dose oral combination of a novel anti-muscarinic and selective norepinephrine reuptake inhibitor for the treatment of obstructive sleep apnea (“OSA”).
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Partnerships Brigham and Women's Hospital (Mass General Brigham): exclusive patent license; milestones up to $8.6M across three products incl. Oxnimbi; low single-digit royalties; $0.3-0.5M change-of-control payment
Indications
Obstructive sleep apnea (OSA)(Phase 3)
Status note Sole clinical product candidate; Phase 3 trials completed. Proposed brand name conditionally approved by FDA May 2025, reconfirmed Jun 2026, pending NDA approval in its totality. Shionogi right-of-first-negotiation agreement terminated Apr 2026. Sulthiame/Desitin IP program divested via SASS disposition completed Apr 2026 (company retains $50M contingent milestone + sales earnouts, no longer an operated program).
Per-asset detail extracted from the 10-Q filed 2026-09-08. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.