APMD Stock — Apnimed Inc.: Cash, EV, Pipeline

Share price

$29.00

Market cap

$1,207.3M

Cash

$346.4M

Enterprise value

$901.2M

Balance sheet

Cash	$346.4M
Debt	$40.3M
Net cash	$306.1M
Enterprise value	$901.2M
Basic shares	4.8M shares
Fully diluted shares	50.9M shares
Fully diluted market cap	$1,477.3M
Cash per share	$72.17

Cash figures as of 2026-08-03. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Now - Sep 22, 2026	Aroxybutynin and Atomoxetine	Phase 3	OSA	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Oxnimbi

Phase 3 · Active Modality: oral fixed-dose combination

Aliases AD109

Target muscarinic receptor/NET

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.

Pipeline

Lead drug	Aroxybutynin and Atomoxetine
Lead indication	OSA
Lead phase	Phase 3
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06566820	Phase 3	Enrolling by invitation	Sponsor	Apnimed	—	OSA	—

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.

View all 1 active trials for Apnimed on ClinicalTrials.gov

No specialist-fund holders in 13F data for this company.

APMD — Apnimed Inc.