Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2022 | |
Document Information Line Items | |
Entity Registrant Name | Aptorum Group Limited |
Document Type | 6-K |
Current Fiscal Year End Date | --12-31 |
Amendment Flag | false |
Entity Central Index Key | 0001734005 |
Document Period End Date | Jun. 30, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q2 |
Entity File Number | 001-38764 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash | $ 4,065,788 | $ 8,131,217 |
Restricted cash | 3,130,270 | 130,270 |
Accounts receivable | 71,814 | 78,722 |
Inventories | 29,704 | 35,775 |
Marketable securities, at fair value | 153,905 | 236,615 |
Amounts due from related parties | 141,457 | 47,754 |
Due from brokers | 76,330 | 76,380 |
Loan receivable from a related party | 657,404 | 3,358,089 |
Other receivables and prepayments | 997,900 | 593,478 |
Total current assets | 9,324,572 | 12,688,300 |
Property, plant and equipment, net | 3,331,498 | 3,731,116 |
Operating lease right-of-use assets | 495,415 | 154,439 |
Long-term investments | 9,744,985 | 4,156,907 |
Intangible assets, net | 826,184 | 880,256 |
Long-term deposits | 295,891 | 296,225 |
Total Assets | 24,018,545 | 21,907,243 |
Current liabilities: | ||
Amounts due to related parties | 46 | 11,389 |
Accounts payable and accrued expenses | 4,843,862 | 4,172,565 |
Finance lease liabilities, current | 22,106 | 47,923 |
Operating lease liabilities, current | 339,649 | 145,391 |
Loan payables | 3,000,000 | |
Total current liabilities | 8,205,663 | 4,377,268 |
Operating lease liabilities, non-current | 163,906 | 23,853 |
Total Liabilities | 8,369,569 | 4,401,121 |
Commitments and contingencies | ||
EQUITY | ||
Class A Ordinary Shares ($1.00 par value; 60,000,000 shares authorized, 13,265,503 and 13,202,408 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively) | 13,265,503 | 13,202,408 |
Class B Ordinary Shares ($1.00 par value; 40,000,000 shares authorized, 22,437,754 shares issued and outstanding as of June 30, 2022 and December 31, 2021) | 22,437,754 | 22,437,754 |
Additional paid-in capital | 44,336,942 | 43,506,717 |
Accumulated other comprehensive income (deficit) | 29,327 | (2,019) |
Accumulated deficit | (57,422,767) | (55,537,515) |
Total equity attributable to the shareholders of Aptorum Group Limited | 22,646,759 | 23,607,345 |
Non-controlling interests | (6,997,783) | (6,101,223) |
Total equity | 15,648,976 | 17,506,122 |
Total Liabilities and Equity | $ 24,018,545 | $ 21,907,243 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Class A Ordinary Shares | ||
Ordinary shares par value (in Dollars per share) | $ 1 | $ 1 |
Ordinary shares authorized | 60,000,000 | 60,000,000 |
Ordinary shares issued | 13,265,503 | 13,202,408 |
Ordinary shares outstanding | 13,265,503 | 13,202,408 |
Class B Ordinary Shares | ||
Ordinary shares par value (in Dollars per share) | $ 1 | $ 1 |
Ordinary shares authorized | 40,000,000 | 40,000,000 |
Ordinary shares issued | 22,437,754 | 22,437,754 |
Ordinary shares outstanding | 22,437,754 | 22,437,754 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Revenue | ||
Healthcare services income | $ 527,462 | $ 637,784 |
Operating expenses | ||
Costs of healthcare services | (529,991) | (629,987) |
Research and development expenses | (4,509,303) | (5,508,356) |
General and administrative fees | (2,400,418) | (2,564,117) |
Legal and professional fees | (1,356,164) | (1,240,512) |
Other operating expenses | (183,104) | (189,125) |
Total operating expenses | (8,978,980) | (10,132,097) |
Other income (loss) | ||
Loss on investments in marketable securities, net | (82,710) | (7,565,273) |
Gain on non-marketable investment, net | 5,588,078 | |
Loss on investments in derivatives, net | (4,289) | |
Gain on use of digital currencies | 4,918 | |
Interest income (expense), net | 149,734 | (126,102) |
Sundry income | 66,628 | 82,652 |
Total other income (loss), net | 5,721,730 | (7,608,094) |
Net loss | (2,729,788) | (17,102,407) |
Less: net loss attributable to non-controlling interests | (844,536) | (1,020,983) |
Net loss attributable to Aptorum Group Limited | $ (1,885,252) | $ (16,081,424) |
Net loss per share – basic and diluted (in Dollars per share) | $ (0.05) | $ (0.47) |
Weighted-average shares outstanding – basic and diluted (in Shares) | 35,682,652 | 34,280,137 |
Net loss | $ (2,729,788) | $ (17,102,407) |
Other comprehensive income (loss) | ||
Exchange differences on translation of foreign operations | 31,346 | (25,029) |
Other comprehensive income (loss) | 31,346 | (25,029) |
Comprehensive loss | (2,698,442) | (17,127,436) |
Less: comprehensive loss attributable to non-controlling interests | (844,536) | (1,020,983) |
Comprehensive loss attributable to the shareholders of Aptorum Group Limited | $ (1,853,906) | $ (16,106,453) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parentheticals) - $ / shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss per share – basic and diluted | $ (0.05) | $ (0.47) |
Weighted-average shares outstanding – basic and diluted (in Shares) | 35,682,652 | 34,280,137 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Equity - USD ($) | Class A Ordinary Shares | Class B Ordinary Shares | Additional Paid-in Capital Amount | Accumulated deficit Amount | Accumulated other comprehensive income (loss) Amount | Non- controlling interests Amount | Total |
Balance at Dec. 31, 2020 | $ 11,584,324 | $ 22,437,754 | $ 38,247,903 | $ (30,489,126) | $ 53,296 | $ (3,681,858) | $ 38,152,293 |
Balance (in Shares) at Dec. 31, 2020 | 11,584,324 | 22,437,754 | |||||
Issuance of shares to non-controlling interest | 34,133 | (34,133) | |||||
Net loss | (16,081,424) | (1,020,983) | (17,102,407) | ||||
Issuance of Class A Ordinary Shares | $ 1,387,925 | 2,612,075 | 4,000,000 | ||||
Issuance of Class A Ordinary Shares (in Shares) | 1,387,925 | ||||||
Share-based compensation | 712,919 | 712,919 | |||||
Exercise of share options | $ 158,125 | 441,010 | 599,135 | ||||
Exercise of share options (in Shares) | 158,125 | ||||||
Exercise of warrants | $ 40,000 | 90,012 | 130,012 | ||||
Exercise of warrants (in Shares) | 40,000 | ||||||
Disposal of subsidiaries under common control transaction | 303,419 | (5,386) | (300,000) | (1,967) | |||
Exchange difference on translation of foreign operations | (19,643) | (19,643) | |||||
Balance at Jun. 30, 2021 | $ 13,170,374 | $ 22,437,754 | 42,441,471 | (46,570,550) | 28,267 | (5,036,974) | 26,470,342 |
Balance (in Shares) at Jun. 30, 2021 | 13,170,374 | 22,437,754 | |||||
Balance at Dec. 31, 2021 | $ 13,202,408 | $ 22,437,754 | 43,506,717 | (55,537,515) | (2,019) | (6,101,223) | 17,506,122 |
Balance (in Shares) at Dec. 31, 2021 | 13,202,408 | 22,437,754 | |||||
Issuance of shares to non-controlling interest | 52,024 | (52,024) | |||||
Net loss | (1,885,252) | (844,536) | (2,729,788) | ||||
Share-based compensation | 683,330 | 683,330 | |||||
Exercise of share options | $ 63,095 | 94,871 | 157,966 | ||||
Exercise of share options (in Shares) | 63,095 | ||||||
Exchange difference on translation of foreign operations | 31,346 | 31,346 | |||||
Balance at Jun. 30, 2022 | $ 13,265,503 | $ 22,437,754 | $ 44,336,942 | $ (57,422,767) | $ 29,327 | $ (6,997,783) | $ 15,648,976 |
Balance (in Shares) at Jun. 30, 2022 | 13,265,503 | 22,437,754 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities | ||
Net loss | $ (2,729,788) | $ (17,102,407) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Amortization and depreciation | 582,706 | 596,864 |
Share-based compensation | 683,330 | 712,919 |
Loss on investments in marketable securities, net | 82,710 | 7,565,273 |
Gain on non-marketable investment, net | (5,588,078) | |
Loss on investments in derivatives, net | 4,289 | |
Gain on use of digital currencies | (4,918) | |
Settlement of service fee by tokens and digital currencies | 10,457 | |
Operating lease cost | 183,179 | 212,640 |
Impairment loss of other receivables and prepayment | 80,000 | |
Interest income | (151,839) | (2,905) |
Interest expense | 1,000 | 126,417 |
Accretion of finance lease liabilities | 1,105 | 2,590 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 6,908 | 15,128 |
Inventories | 6,071 | 6,348 |
Other receivables and prepayments | (403,614) | 502,815 |
Long-term deposits | 21,872 | |
Due from brokers | 50 | (4) |
Amounts due from related parties | (97,703) | (1,923) |
Amounts due to related parties | (12,343) | (138,582) |
Accounts payable and accrued expenses | 690,988 | 867,090 |
Operating lease liabilities | (189,844) | (206,126) |
Net cash used in operating activities | (6,913,290) | (6,754,035) |
Cash flows from investing activities | ||
Loan to related parties | (103,789) | |
Loan repayment from a related party | 2,965,803 | |
Purchases of property, plant and equipment | (150,554) | (5,278) |
Proceeds from sale of marketable securities | 20,116,734 | |
Disposal of subsidiary, net of cash disposed | (113,828) | |
Purchases of intangible assets | (6,026) | |
Net cash provided by investing activities | 2,711,460 | 19,991,602 |
Cash flows from financing activities | ||
Loan from banks | 3,000,000 | |
Exercise of options and warrants | 157,963 | 130,012 |
Payment of finance lease obligations | (26,922) | (26,922) |
Proceeds from issuance of subsidiaries’ shares | 5,360 | |
Loan from a related party | 3,500,000 | |
Repayment of loan from related parties | (4,400,000) | |
Proceeds from issuance of Class A Ordinary Shares and warrants, net | 4,000,000 | |
Net cash provided by financing activities | 3,136,401 | 3,203,090 |
Net increase (decrease) in cash and restricted cash | (1,065,429) | 16,440,657 |
Cash and restricted cash- Beginning of period | 8,261,487 | 3,625,356 |
Cash and restricted cash - End of period | 7,196,058 | 20,066,013 |
Supplemental disclosures of cash flow information | ||
Interest paid | 133,623 | |
Income taxes paid | ||
Reconciliation of cash and restricted cash | ||
Cash | 4,065,788 | 19,935,888 |
Restricted cash | 3,130,270 | 130,125 |
Total cash and restricted cash shown on the condensed consolidated statements of cash flows | $ 7,196,058 | $ 20,066,013 |
Organization
Organization | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
ORGANIZATION | 1. ORGANIZATION The condensed consolidated financial statements include the financial statements of Aptorum Group Limited (the “Company”) and its subsidiaries. The Company and its subsidiaries are hereinafter collectively referred to as the “Group”. The Company, formerly known as APTUS Holdings Limited and STRIKER ASIA OPPORTUNITIES FUND CORPORATION, is a company incorporated on September 13, 2010 under the laws of the Cayman Islands with limited liability. The Company researches and develops life science and biopharmaceutical products within its wholly-owned subsidiary, Aptorum Therapeutics Limited, formerly known as APTUS Therapeutics Limited (“Aptorum Therapeutics”) and its indirect subsidiary companies (collectively, “Aptorum Therapeutics Group”). |
Liquidity
Liquidity | 6 Months Ended |
Jun. 30, 2022 | |
Liquidity [Abstract] | |
LIQUIDITY | 2. LIQUIDITY The Group reported a net loss of $2,729,788 and net operating cash outflow of $6,913,290 for the six months ended June 30, 2022. In addition, the Group had an accumulated deficit of $57,422,767 as of June 30, 2022. The Group’s operating results for future periods are subject to numerous uncertainties and it is uncertain if the Group will be able to reduce or eliminate its net losses for the foreseeable future. If management is not able to generate significant revenues from its product candidates currently in development, the Group may not be able to achieve profitability. The Group’s principal sources of liquidity have been cash and line of credit facility from related parties and banks. As of the date of issuance of the condensed consolidated financial statements, the Group has approximately $4 million of restricted and unrestricted cash and approximately $12 million of undrawn line of credit facility from related parties. In addition, the Group will need to maintain its operating costs at a level through strict cost control and budget to ensure operating costs will not exceed such aforementioned sources of funds to continue as a going concern for a period within 12 months after the issuance of its condensed consolidated financial statements. The Group believes that available cash, together with the efforts from aforementioned management plan and actions, should enable the Group to meet current anticipated cash needs for at least the next 12 months after the date that the condensed consolidated financial statements are issued and the Group has prepared the condensed consolidated financial statements on a going concern basis. We may, however, need additional capital in the future to fund our continued operations. If we determine that our cash requirements exceed the amount of cash and cash equivalents we have at the time, we may seek to issue equity or debt securities or obtain credit facilities. The issuance and sale of additional equity or convertible debts would result in further dilution to our shareholders. The incurrence of indebtedness would result in increased fixed obligations and could result in operating covenants that might restrict our operations. We cannot assure you the financing will be available in amounts or on terms acceptable to us, if at all. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of presentation and consolidation The condensed consolidated financial statements of the Group are presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company, its direct and indirect wholly and majority owned subsidiaries. In accordance with the provisions of Accounting Standards Codification (“ASC”) 810, Consolidation, we consolidate any variable interest entity (“VIE”) of which we are the primary beneficiary. The typical condition for a controlling financial interest ownership is holding a majority of the voting interests of an entity; however, a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve controlling voting interests. ASC 810 requires a variable interest holder to consolidate a VIE if that party has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. We do not consolidate a VIE in which we have a majority ownership interest when we are not considered the primary beneficiary. We have determined that we are not the primary beneficiary of one of the VIE (see Note 12, Variable Interest Entity). We evaluate our relationships with the VIE on an ongoing basis to determine whether we become the primary beneficiary. All material intercompany balances and transactions have been eliminated in preparation of the consolidated financial statements. Use of estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as income and expenses during the reporting period. Significant accounting estimates reflected in the Group’s condensed consolidated financial statements include valuation of equity securities, fair value of investments in securities, finance lease, warrants and share options, the useful lives of intangible assets and property, plant and equipment, impairment of long-lived assets, valuation allowance for deferred tax assets, and collectability of receivables. Actual results could differ from those estimates. Marketable securities Marketable securities are publicly traded stocks measured at fair value and classified within Level 1 and 2 in the fair value hierarchy because the Group either uses quoted prices for identical assets in active markets, inputs that are based upon quoted prices for similar instruments in active markets, or quoted prices for identical assets in markets with insufficient volume or infrequent transaction (less active markets). Long-term investments The Group’s long-term investments consist of equity method investment in common stocks and non-marketable investments in non-redeemable preferred shares of privately-held companies that are not required to be consolidated under the variable interest or voting models. Long-term investments are classified as non-current assets on the condensed consolidated balance sheets as those investments do not have stated contractual maturity dates. Non marketable investments The non-marketable equity securities not accounted for under the equity method are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. Adjustments are determined primarily based on a market approach as of the transaction date. Equity method investment – Fair value option The Group elects the fair value option for an investment that would otherwise be accounted for using the equity method of accounting. Such election is irrevocable and is applied on an investment by investment basis at initial recognition. The fair value of such investments is based on quoted prices in an active market, if any, or recent orderly transactions for identical or similar investment of the same issuer. Changes in the fair value of these equity method investments are recognized in other income (loss), net in the condensed consolidated statement of operations. Operating leases At the inception of a contract, the Group determines if the arrangement is, or contains, a lease. Operating lease liabilities are recognized at lease commencement based on the present value of lease payments over the lease term. Operating lease right-of-use assets are initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred and less any lease incentives received. As the rate implicit in the lease cannot be readily determined, the Group uses incremental borrowing rate at the lease commencement date in determining the imputed interest and present value of lease payments. The incremental borrowing rate is determined based on the rate of interest that the Group would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term in a similar economic environment. The lease term for all of the Group’s leases includes the non-cancellable period of the lease plus any additional periods covered by either a Group’s option to extend (or not to terminate) the lease that the Group is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. For operating leases, the Group recognizes a single lease cost on a straight-line basis over the remaining lease term. The Group has elected not to recognize right-of-use assets or lease liabilities for leases with an initial term of 12 months or less and the Group recognizes lease expense for these leases on a straight-line basis over the lease terms. Revenue recognition Revenues are derived from healthcare services rendered to patients for healthcare consultation and medical treatment. Revenue is reported at the amount that reflects the consideration to which the Group expects to be entitled in exchange for providing healthcare services. The Group recognizes revenue as its performance obligations are completed. Healthcare services are treated as a single performance obligation satisfied at a point in time because the performance obligations are generally satisfied less than one day. The Group determines the transaction price based on established billing rates. The Group considers the patient's ability and intent to pay the amount of consideration upon admission. Subsequent changes resulting from a patient’s ability to pay are recorded as bad debt expense, which is included as a component of other operating expenses in the condensed consolidated statements of operations. During the six months ended June 30, 2022 and 2021, the bad debt expenses were $71 and nil Recently adopted accounting pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): “Simplifying the Accounting for Income Taxes” (“ASU 2019-12”), which simplifies the accounting for income taxes. The Group adopted this standard effective January 1, 2022. The adoption does not have a material effect on the Group’s condensed consolidated financial statements. In May 2021, the FASB issued ASU No. 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. The ASU addresses the previous lack of specific guidance in the accounting standards codification related to modifications or exchanges of freestanding equity-classified written call options (such as warrants) by specifying the accounting for various modification scenarios. The Group adopted this standard effective January 1, 2022. The adoption does not have a material effect on the Group’s condensed consolidated financial statements. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832). This ASU requires business entities to disclose information about government assistance they receive if the transactions were accounted for by analogy to either a grant or a contribution accounting model. The disclosure requirements include the nature of the transaction and the related accounting policy used, the line items on the balance sheets and statements of operations that are affected and the amounts applicable to each financial statement line item and the significant terms and conditions of the transactions. The Group adopted this standard effective January 1, 2022. The adoption does not have a material effect on the Group’s condensed consolidated financial statements. |
Revenue
Revenue | 6 Months Ended |
Jun. 30, 2022 | |
Revenue [Abstract] | |
REVENUE | 4. REVENUE For the six months ended June 30, 2022 and 2021, all revenue came from provision of healthcare services in Hong Kong. |
Investment and Fair Value Measu
Investment and Fair Value Measurement | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
INVESTMENT AND FAIR VALUE MEASUREMENT | 5. INVESTMENT AND FAIR VALUE MEASUREMENT Assets Measured at Fair Value on a Recurring Basis The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2022 and December 31, 2021: June 30, 2022 (unaudited) Level 1 Level 2 Level 3 Total Current Assets Marketable securities Common stocks $ 9,914 $ 143,991 $ - $ 153,905 Non-current Assets Long-term investments Common stocks $ - $ - $ 77,200 $ 77,200 Total assets at fair value $ 9,914 $ 143,991 $ 77,200 $ 231,105 December 31, 2021 Level 1 Level 2 Level 3 Total Current Assets Marketable securities Common stocks $ 23,527 $ 213,088 $ - $ 236,615 Non-current Assets Long-term investments Common stocks $ - $ - $ 77,200 $ 77,200 Total assets at fair value $ 23,527 $ 213,088 $ 77,200 $ 313,815 The following is a reconciliation of Level 3 assets measured and recorded at fair value on a recurring basis for the six months ended June 30, 2022 and 2021: Common Balance at January 1, 2022 $ 77,200 Change in unrealized appreciation - Balance at June 30, 2022 (Unaudited) $ 77,200 Net change in unrealized appreciation relating to investments still held at June 30, 2022 - Warrants Balance at January 1, 2021 $ 4,289 Change in unrealized depreciation (4,289 ) Balance at June 30, 2021 (Unaudited) $ - Net change in unrealized depreciation relating to investments still held at June 30, 2021 - The following table presents the quantitative information about the Group’s Level 3 fair value measurements of investment as of June 30, 2022 and December 31, 2021, which utilized significant unobservable internally-developed inputs: June 30, 2022 Valuation technique Unobservable input Range (weighted average) Common stocks Recent transactions Recent transaction price $0.0001 - $0.01 December 31, 2021 Valuation technique Unobservable input Range (weighted average) Common stocks Recent transactions Recent transaction price $0.0001 - $0.01 Non-marketable investments The Group’s non-marketable investments are investments in privately held companies without readily determinable fair values. The carrying value of the non-marketable investments are adjusted based on price changes from observable transactions of identical or similar securities of the same issuer (referred to as the measurement alternative) or for impairment the carrying amount of the non-marketable investments may not be fully recoverable. Any changes in carrying value are recorded within other income (loss), net in the condensed consolidated statements of operations. The following is a summary of annual upward or downwards adjustments and impairment recorded in other income (loss), net, during the six months ended June 30, 2022 and 2021: June 30, June 30, (Unaudited) (Unaudited) Upward adjustments $ 6,108,899 $ - Downward adjustments and impairment (520,821 ) - Gain on investment in non-marketable security, net $ 5,588,078 $ - During the six months ended June 30, 2022 and 2021, the Group did not sell any non-marketable investments. The whole amounts of gain on investment in non-marketable security, net represented the unrealized gains and losses on non-marketable investments held as of June 30, 2022 and 2021. The following table summarizes the total carrying value of the non-marketable investments held as of June 30, 2022 and December 31, 2021 including cumulative unrealized upward or downward adjustments and impairment made to the initial cost basis of the investments: June 30, December 31, (Unaudited) Initial cost basis $ 4,079,707 $ 4,079,707 Upward adjustments 6,108,899 - Downward adjustments and impairment (520,821 ) - Total carrying value at the end of the period $ 9,667,785 $ 4,079,707 The Group did not transfer any non-marketable investments into marketable securities during the six months ended June 30, 2022 and 2021. |
Other Receivables and Prepaymen
Other Receivables and Prepayments | 6 Months Ended |
Jun. 30, 2022 | |
Other Receivables and Prepayments [Abstract] | |
OTHER RECEIVABLES AND PREPAYMENTS | 6. OTHER RECEIVABLES AND PREPAYMENTS Other receivables and prepayments as of June 30, 2022 and December 31, 2021 consisted of: June 30, December 31, (Unaudited) Prepaid research and development expenses $ 520,656 $ 314,165 Prepaid insurance 245,617 92,035 Prepaid service fee 177,498 90,857 Rental deposits 14,783 12,011 Prepaid rental expenses 12,923 13,205 Other receivables 2,489 47,697 Others 23,934 23,508 $ 997,900 $ 593,478 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 6 Months Ended |
Jun. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY, PLANT AND EQUIPMENT, NET | 7. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment as of June 30, 2022 and December 31, 2021 consisted of: June 30, December 31, (Unaudited) Computer equipment $ 85,495 $ 85,495 Furniture, fixture, and office and medical equipment 298,738 264,123 Leasehold improvements 542,514 542,514 Laboratory equipment 4,273,465 4,179,064 Motor vehicle under finance leases 239,093 239,093 Assets in construction 1,899,169 1,899,169 7,338,474 7,209,458 Less: accumulated depreciation 4,006,976 3,478,342 Property, plant and equipment, net $ 3,331,498 $ 3,731,116 Depreciation expenses for property, plant and equipment amounted to $528,634 and $543,152 for the six months ended June 30, 2022 and 2021, respectively. During the six months ended June 30, 2022 and 2021, no impairment loss or gain or loss from disposal was recorded. |
Long-Term Deposits
Long-Term Deposits | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
LONG-TERM DEPOSITS | 8. LONG-TERM DEPOSITS Long-term deposits as of June 30, 2022 and December 31, 2021 consisted of: June 30, December 31, (Unaudited) Rental deposits $ 127,303 $ 149,175 Prepayments for equipment 168,588 147,050 $ 295,891 $ 296,225 |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 6 Months Ended |
Jun. 30, 2022 | |
Payables and Accruals [Abstract] | |
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 9. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses as of June 30, 2022 and December 31, 2021 consisted of: June 30, December 31, (Unaudited) Deferred bonus and salaries payable $ 3,884,123 $ 3,173,739 Research and development expenses payable 636,524 519,012 Professional fees payable 159,290 166,190 Cost of healthcare services payable 88,718 142,968 Insurance expenses payable - 35,010 Others 75,207 135,646 $ 4,843,862 $ 4,172,565 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 10. INCOME TAXES The Company and its subsidiaries file tax returns separately. Income taxes Cayman Islands: under the current laws of the Cayman Islands, the Company and its subsidiaries in the Cayman Islands are not subject to taxes on their income and capital gains. Hong Kong: in accordance with the relevant tax laws and regulations of Hong Kong, a company registered in Hong Kong is subject to income taxes within Hong Kong at the applicable tax rate on taxable income. All the Hong Kong subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 16.5%. The subsidiaries of the Group in Hong Kong did not have assessable profits that were derived Hong Kong during the six months ended June 30, 2022 and 2021. Therefore, no Hong Kong profit tax has been provided for in the periods presented. United Kingdom: in accordance with the relevant tax laws and regulations of United Kingdom, a company registered in the United Kingdom is subject to income taxes within the United Kingdom at the applicable tax rate on taxable income. All the United Kingdom subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 19%. The subsidiary of the Group in the United Kingdom did not have assessable profits that were derived from the United Kingdom during the six months ended June 30, 2022 and 2021. Therefore, no United Kingdom profit tax has been provided for in the periods presented. Singapore: in accordance with the relevant tax laws and regulations of Singapore, a company registered in the Singapore is subject to income taxes within Singapore at the applicable tax rate on taxable income. All the Singapore subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 17%. The subsidiary in Singapore did not have assessable profits that were derived from Singapore during the six months ended June 30, 2022 and 2021. Therefore, no Singapore profit tax has been provided for in the periods presented. United States (Nevada): in accordance with the relevant tax laws and regulations of the United States, a company registered in the United States is subject to income taxes within the United States at the applicable tax rate on taxable income. All the United States subsidiaries in Nevada that are not entitled to any tax holiday were subject to income tax at a rate of 21%. The subsidiary in the United States did not have assessable profits that were derived from the United States during the six months ended June 30, 2022 and 2021. Therefore, no United States profit tax has been provided for in the periods presented. Canada: in accordance with the relevant tax laws and regulations of Canada, a company registered in Canada is subject to income taxes within Canada at the applicable tax rate on taxable income. All the Canada subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 15%. The subsidiary in Canada did not have assessable profits that were derived from Canada during the six months ended June 30, 2022 and 2021. Therefore, no Canada profit tax has been provided for in the periods presented. Ireland: in accordance with the relevant tax laws and regulations of Ireland, a company registered in Ireland is subject to income taxes within Ireland at the applicable tax rate on taxable income. All the Ireland subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 12.5%. The subsidiary in Ireland did not have assessable profits that were derived from Ireland during the six months ended June 30, 2022 and 2021. Therefore, no Ireland profit tax has been provided for in the periods presented. On a semi-annually basis, the Group evaluates the realizability of deferred tax assets by jurisdiction and assesses the need for a valuation allowance. In assessing the realizability of deferred tax assets, the Group considers historical profitability, evaluation of scheduled reversals of deferred tax liabilities, projected future taxable income and tax-planning strategies. Valuation allowances have been provided on deferred tax assets where, based on all available evidence, it was considered more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. After consideration of all positive and negative evidence, the Group believes that as of June 30, 2022, it is more likely than not the deferred tax assets will not be realized. |
Related Party Balances and Tran
Related Party Balances and Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY BALANCES AND TRANSACTIONS | 11. RELATED PARTY BALANCES AND TRANSACTIONS The following is a list of a director and related parties to which the Group has transactions with: (a) Ian Huen, a Non-executive Director of the Group since June 1, 2022. Before June 1, 2022, he was the Chief Executive Officer and Executive Director of the Group; (b) Darren Lui, the Chief Executive Officer and Executive Director since June 1, 2022. Before June 1, 2022, he was the President and Executive Director of the Group; (c) Clark Cheng, an Executive Director of the Group; (d) Libra Sciences Limited, an entity which was originally a wholly owned subsidiary of ATL. Since December 30, 2021, Libra has become a related party to the Group due to the voting power owned by ATL is decreased to below 50% but more than 20%. (Note 12); (e) Libra Therapeutics Limited, a wholly owned subsidiary of Libra Sciences Limited; (f) Talem Medical Group Limited, an entity which Clark Cheng is a director; (g) Aeneas Group Limited, an entity controlled by Ian Huen; (h) Jurchen Investment Corporation, the holding company and an entity controlled by Ian Huen; (i) CGY Investment Limited, an entity jointly controlled by Darren Lui; (j) ACC Medical Limited, an entity controlled by Clark Cheng; (k) Sabrina Khan, the Chief Financial Officer of the Group. On July 11, 2022, she resigned from her position as Chief Financial Officer. Amounts due from related parties Amounts due from related parties consisted of the following as of June 30, 2022 and December 31, 2021: June 30, December 31, Current (Unaudited) Libra Sciences Limited $ 193,729 $ 4,193 Libra Therapeutics Limited 17,305 - Talem Medical Group Limited 587,590 - Ian Huen 237 - Jurchen Investment Corporation - 2,000 CGY Investment Limited - 2,000 Total $ 798,861 $ 3,397,650 Amounts due to related parties Amounts due to related parties consisted of the following as of June 30, 2022 and December 31, 2021: June 30, December 31, Current (Unaudited) Sabrina Khan $ 46 $ 844 Darren Lui - 3,449 Clark Cheng - 5,699 Ian Huen - 1,397 Total $ 46 $ 11,389 Related party transactions Related party transactions consisted of the following for the six months ended June 30, 2022 and 2021: For the six months ended 2022 2021 (Unaudited) (Unaudited) Loan from related parties (Note a) - Aeneas Group Limited $ - $ 1,000,000 - Jurchen Investment Corporation $ - $ 2,500,000 Repayment of loan and interest to related parties (Note a) - Aeneas Group Limited $ - $ 1,448,526 - Jurchen Investment Corporation $ - $ 3,085,097 Interest expenses (Note a) - Aeneas Group Limited $ - $ 60,773 - Jurchen Investment Corporation $ - $ 65,644 Loan to a related party (Note f) - Libra Sciences Limited $ 103,789 $ - Repayment of loan and interest from a related party (Note b) - Talem Medical Group Limited $ 2,965,803 $ - Interest incomes (Note b and f) - Talem Medical Group Limited $ 139,105 $ - - Libra Sciences Limited $ 2,051 $ - Consultant, management and administrative fees (Note c) - CGY Investments Limited $ 114,461 $ 80,000 - ACC Medical Limited $ 99,472 $ 79,402 Administrative fees income (Note e) - Libra Sciences Limited $ 19,231 $ - Note a: On August 13, 2019, Aptorum Therapeutics Limited (“ATL”), a wholly owned subsidiary of the Company, entered into financing arrangements with Aeneas Group Limited, a related party, and Jurchen Investment Corporation, the ultimate parent of the Group, allowing ATL to access up to a total $15 million in line of credit debt financing. Both line of credits have originally matured on August 12, 2022. ATL and Aeneas Group Limited has mutually agreed to extend the line of credit arrangement further 3 years to August 12, 2025. The interest on the outstanding principal indebtedness is at the rate of 8% per annum. ATL may early repay, in whole or in part, the principal indebtedness and all interest accrued at any time prior to the maturity date without the prior written consent of the lender and without payment of any premium or penalty. As of the date of this condensed consolidated financial statements, the undrawn line of credit facility is $12 million. Note b: On November 17, 2021, Aptorum Therapeutics Limited (the “Lender”) entered into a loan agreement with Talem Medical Group Limited (the “Borrower”). According to the loan agreement, the Lender granted a loan of up to AUD4,700,000 for the Borrower for general working capital purposes of the Borrower and its subsidiaries. The loan is interest-bearing at a rate of 10% per annum and secured by the entire issued shares of Talem Medical Group (Australia) Pty Limited held by the Borrower. The loan is initially matured 6 months from the date of the first drawdown. The maturity date is extended for 6 months to the first extended maturity date, and may further extendable for another 6 months to the second extended maturity date, if certain conditions stated in loan agreement are satisfied. As of the date of this condensed consolidated financial statements, AUD800,000 of the principal (approximately $554,000) is outstanding from the Borrower following a partial repayment. Note c: CGY Investment Limited provided certain consultancy, advisory and management services to the Group on potential investment projects related to healthcare or R&D platforms. CGY Investment Limited is initially entitled to receive HK $104,000 (approximately $13,333) per calendar month plus reimbursement; such the monthly service fee is adjusted to HK$171,200 (approximately US$21,949) with effect from March 1, 2022. The agreement will be remained in effect until 1 month’s notice in writing is given by either party. ACC Medical Limited provided certain consultancy, advisory, and management services to the Group on clinic operations and other related projects for clinics’ business development. ACC Medical Limited is initially entitled to receive HK $101,542 (approximately $13,018) per calendar month plus reimbursement; such monthly service fee is adjusted to HK$143,200 (approximately US$18,359 per month) effective from March 1, 2022. The agreement will be remained in effect until 1 month’s notice in writing is given by either party. Note d: On January 2, 2021, Aptorum Medical Limited issued 117 shares to Clark Cheng in according to the appointment agreement, decreasing the equity interest of the Company from 93% to 92%. On February 25, 2022, Aptorum Medical Limited further issued 119 shares to Clark Cheng in according to the appointment agreement, decreasing the equity interest of the Company from 92% to 91%. Note e: On January 1, 2022, Aptus Management Limited (“AML”), a wholly owned subsidiary of the Company, entered into an administrative management services agreement with Libra Sciences Limited. According to the agreement, AML will provide documentation and administrative services, include but are not limited to human resources and payroll administration, general secretarial and administrative support, and accounting and financial reporting services. AML is entitled to receive a fixed amount of services fees of HKD 25,000 (approximately $3,205) per calendar month with the expiry date on December 31, 2023. Note f: On January 13, 2022, ATL entered a line of credit facility with Libra Sciences Limited to provide up to a total $1 million line of credit for its daily operation. The line of credit will mature on January 12, 2023, extendable for up to 3 years, and the interest on the outstanding principal indebtedness will be at the rate of 10% per annum. Note g: On May 27, 2021, ATL entered a Share Sale Agreement to sell all of the shares of SMPTH Limited to Aeneas Group Limited at the consideration $1. The sale of SMPTH Limited was a common control transaction and resulted in $303,419 increase in additional paid-in capital in the condensed consolidated statement of changes in equity. |
Variable Interest Entity
Variable Interest Entity | 6 Months Ended |
Jun. 30, 2022 | |
Variable Interest Entity Abstract | |
VARIABLE INTEREST ENTITY | 12. VARIABLE INTEREST ENTITY The Company consolidates VIEs in which the Group has a variable interest and is determined to be the primary beneficiary. This determination is based on whether the Group has a variable interest (or combination of variable interests) that provides the Company with (a) the power to direct the activities that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses or right to receive benefits that could be potentially significant to the VIE. The Group continually reassesses whether it is the primary beneficiary of a VIE throughout the entire period the Group is involved with the VIE. On December 30, 2021, three of the Group’s subsidiaries, Libra Sciences Limited (“Libra”, formerly known as Aptorum Pharmaceutical Development Limited), Mios Pharmaceuticals Limited (“Mios”) and Scipio Life Sciences Limited (“Scipio”), issued Class A and Class B ordinary shares to various parties; for each such entity, each Class A ordinary share is entitled to 1 vote and 1 share of economic benefit of the respective company, while each Class B ordinary share is entitled to 10 votes and 0.001 share of economic benefit of the respective company. Following such share issuances, the Group lost its majority voting rights in each of these three companies and only holds 48.33%, 48.39% and 48.36% economic interest in Libra, Mios and Scipio, respectively. However, the Group still holds a majority of each of these three company’s outstanding Class A ordinary shares and therefore will absorb/receive portions of these subsidiaries’ expected losses or residual returns. In addition, none of these three companies have sufficient equity to sustain its own activities, and they have two classes of ordinary shares which have different rights, benefits and obligations. We determined that all these three companies are variable interest entities (“VIE”). On December 31, 2021, Libra, Mios and Scipio further issued Class A ordinary shares to the Group in exchange of certain projects licenses. Upon these share issuances, the Group was holding 97.27% economic interest and 31.51% voting power in Libra, 97.93% economic interest and 36.17% voting power in Mios, and 97.93% economic interest and 35.06% voting power in Scipio, respectively. We have considered each of these entity’s Memorandum and Article of Association and their respective board of directors (the sole director of each of Mios and Scipio is an executive director of the Group), and determined that we have the power to manage and make decisions that affect Mios and Scipio’s research and development activities, which activities most significantly impact Mios and Scipio’s economic performance. However, we do not have such power over Libra’s research and development activities, which activities most significantly impact Libra’s economic performance. Accordingly, we determined that we are the primary beneficiary of Mios and Scipio, but not the primary beneficiary of Libra. The following tables summarize the aggregate carrying value of VIEs’ assets and liabilities in the consolidated balance sheets that are consolidated Assets Liabilities Net Assets June 30, 2022 (Unaudited) Total $ 104,295 $ 2,636 $ 101,659 Assets Liabilities Net Assets December 31, 2021 Total $ 5,361 $ 2,266 $ 3,095 The following tables summarize the aggregate carrying value of assets and liabilities in the Group’s consolidated balance sheets that relate to the VIE in which the Group holds a variable interest but is not the primary beneficiary. Assets Liabilities Net Assets Maximum June 30, 2022 (Unaudited) Total $ 288,234 $ - $ 288,234 $ 288,234 Assets Liabilities Net Assets Maximum December 31, 2021 Total $ 4,195 $ - $ 4,195 $ 4,195 The Group’s maximum exposure to loss from its involvement with unconsolidated VIE represents the estimated loss that would be incurred if the VIE is liquidated, so that the fair value of the equity investment in VIE is zero and the amounts due from the VIE have to be fully impaired. On January 1, 2022, the Group entered into an administrative management services agreement with Libra. According to the agreement, the Group will provide documentation and administrative services, including but are not limited to human resources and payroll administration, general secretarial and administrative support, and accounting and financial reporting services. The Group is entitled to receive a fixed amount of services fees of HKD 25,000 (approximately $3,205) per calendar month with the expiry date on December 31, 2023. On January 13, 2022, the Group entered a line of credit facility with Libra to provide up to a total $1 million in line of credit debt financing for its daily operation. The line of credit will mature on January 12, 2023, extendable for up to 3 years, and the interest on the outstanding principal indebtedness will be at the rate of 10% per annum. |
Lease
Lease | 6 Months Ended |
Jun. 30, 2022 | |
Lease[Abstract] | |
LEASE | 13. LEASE As of June 30, 2022, the Group has three non-short-term operating leases for office, laboratories and clinic with remaining terms expiring from 2023 through 2024 and a weighted average remaining lease term of 1.6 years. Weighted average discount rates used in the calculation of the operating lease liability is 8%. The discount rates reflect the estimated incremental borrowing rate, which includes an assessment of the credit rating to determine the rate that the Group would have to pay to borrow, on a collateralized basis for a similar term, an amount equal to the lease payments in a similar economic environment. For the six months ended 2022 2021 (Unaudited) (Unaudited) Lease cost Finance lease cost: Depreciation $ 23,909 $ 23,909 Interest on lease liabilities 1,105 2,590 Operating lease cost 183,179 212,640 Short-term lease cost 42,716 43,014 Variable lease cost - - Sublease income - - Total lease cost $ 250,909 $ 282,153 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 189,844 $ 206,126 Financing cash flows from finance leases 26,922 26,922 Right-of-use assets obtained in exchange for new operating lease liabilities - Weighted-average remaining lease term – finance leases 0.4 years 1.4 years Weighted-average remaining lease term – operating leases 1.6 years 1.1 years Weighted-average discount rate – finance leases 2.5 % 2.5 % Weighted-average discount rate – operating leases 8.0 % 8.0 % The maturity analysis of operating leases liabilities as of June 30, 2022 is as follows: June 30, (Unaudited) Remaining periods ending December 31, 2022 $ 188,518 2023 314,366 2024 33,620 Total future undiscounted cash flow 536,504 Less: Discount on operating lease liabilities (32,949 ) Present value of operating lease liabilities 503,555 Less: Current portion of operating lease liabilities (339,649 ) Non-current portion of operating lease liabilities $ 163,906 On May 14, 2018, the Group leased a vehicle for its operation with a lease term of 54 months, and the lease was classified as a finance lease. The following lists the components of the net present value of finance leases liabilities: June 30, 2022 (Unaudited) Remaining periods ending December 31, 2022 $ 22,435 Total future undiscounted cash flow 22,435 Less: Discount on finance lease liabilities (329 ) Present value of finance lease liabilities $ 22,106 |
Ordinary Shares
Ordinary Shares | 6 Months Ended |
Jun. 30, 2022 | |
Ordinary Shares [Abstract] | |
ORDINARY SHARES | 14. ORDINARY SHARES On March 26, 2021, the Company entered into an at-the-market offering agreement (the “Sales Agreement”), with H.C. Wainwright & Co., LLC, acting as our sales agent (the “Sales Agent”), relating to the sale of our Class A Ordinary Shares, offered pursuant to the prospectus supplement and the accompanying prospectus to the registration statement on Form F-3 (File No. 333-235819) (such offering, the “ATM Offering”, or “At The Market Offering”). In accordance with the terms of the Sales Agreement, we may offer and sell shares of our Class A Ordinary Shares having an aggregate offering price of up to $15,000,000 from time to time through the Sales Agent under such prospectus supplement and the accompanying prospectus. As of the date of issuance of the consolidated financial statements, we have not yet issued any Class A Ordinary Shares pursuant to the ATM Offering. On May 26, 2021, the Company entered into a private placement shares purchase agreement with Jurchen Investment Corporation, issuing 1,387,925 Class A Ordinary Shares at $2.882 per share, representing a 10% premium to the last closing price of the Company’s Class A Ordinary Shares on the NASDAQ stock exchange on that date. The Company received aggregate gross proceeds of $4,000,000 from the purchase of these shares. For the six months ended June 30, 2022 and 2021, the Group issued 63,095 and 198,125 Class A Ordinary Shares to warrant and share option holders respectively. |
Share Based Compensation
Share Based Compensation | 6 Months Ended |
Jun. 30, 2022 | |
Share Based Compensation [Abstract] | |
SHARE BASED COMPENSATION | 15. SHARE BASED COMPENSATION Share option plan 752,185 options were granted on March 11, 2021 to directors, employees, external consultants and advisors of the Group with an exercise price of $2.76 per share, which was based on the average closing price of the shares traded on the NASDAQ stock exchange for the five trading days immediately preceding the grant date. 367,950 options vest on January 1, 2022 and expire on December 31, 2032; 367,930 options vest on January 1, 2023 and expire on December 31, 2033; 9,058 options vest on June 8, 2021 and expire on June 7, 2032; and 7,247 options vest on July 14, 2021 and expire on July 13, 2032. 1,531,332 options were granted on March 8, 2022 to directors, employees, external consultants and advisors of the Group with an exercise price of $1.34 per share, which was based on the average closing price of the shares traded on the NASDAQ stock exchange for the five trading days immediately preceding the grant date. A summary of the option activity as of June 30, 2022 and 2021 and changes during the period is presented below: Number of Weighted Remaining Aggregate Outstanding, January 1, 2022 1,273,706 3.19 11.01 - Granted 1,531,332 1.34 12.30 Exercised (63,095 ) 2.50 4,926 Forfeited (9,390 ) 2.76 Cancelled (4,334 ) 11.68 Outstanding, June 30, 2022 2,728,219 2.16 11.33 45,492 Exercisable, June 30, 2022 884,801 3.30 10.13 560 Outstanding, January 1, 2021 717,717 3.76 11.22 Granted 752,185 2.76 12.29 Exercised (158,125 ) 3.79 15,969 Forfeited (5,602 ) 2.92 Outstanding, June 30, 2021 1,306,175 3.18 11.50 423,411 Exercisable, June 30, 2021 298,803 4.35 10.40 48,779 The weighted-average grant date fair value of share option grants during the six months ended June 30, 2022 and 2021 was $1.00 and $2.57, respectively. The maximum contractual term for share option was 12.8 years. The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model under the following assumptions. Granted in Granted in Expected volatility 89.55 % 97.70 % Risk-free interest rate 1.86 % 1.64 % Expected term from grant date (in years) 5.63-6.41 5.62-6.41 Dividend rate - - Dilution factor 1 1 Fair value $0.97-$1.02 $2.51-$2.60 In connection with the grant of share options to employees and non-employees, the Group recorded share-based compensation charges of $452,758 and $230,572 for the six months ended June 30, 2022 respectively, and $491,696 and $221,223 for the six months ended June 30, 2021 respectively. |
Net Loss Per Share
Net Loss Per Share | 6 Months Ended |
Jun. 30, 2022 | |
Net Loss Per Share [Abstract] | |
NET LOSS PER SHARE | 16. NET LOSS PER SHARE The following table sets forth the computation of basic and diluted loss per share: For the six months ended 2022 2021 (Unaudited) (Unaudited) Numerator: Net loss attributable to Aptorum Group Limited $ (1,885,252 ) $ (16,081,424 ) Denominator: Basic and diluted weighted average shares outstanding 35,682,652 34,280,137 Basic and diluted loss per share $ (0.05 ) $ (0.47 ) Basic loss per share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. Potential dilutive securities are excluded from the calculation of diluted loss per share in loss periods as their effect would be anti-dilutive. |
Contingent Payment Obligations
Contingent Payment Obligations | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
CONTINGENT PAYMENT OBLIGATIONS | 17. CONTINGENT PAYMENT OBLIGATIONS The Group has entered into agreements with independent third parties for purchasing office and laboratory equipment. As of June 30, 2022, we had non-cancellable purchase commitments of $49,166. The Group has additional contingency payment obligations under each of the license agreements, such as milestone payments, royalties, research and development funding, if certain condition or milestone is met. Milestone payments are to be made upon achievements of certain conditions, such as Investigational New Drugs (“IND”) filing or U.S. Food and Drug Administration (“FDA”) approval, first commercial sale of the licensed products, or other achievements. The aggregate amount of the milestone payments that we are required to pay up to different achievements of conditions and milestones for all the license agreements signed as of June 30, 2022 are as below: Amount Drug molecules: up to the conditions and milestones of Preclinical to IND filing $ 282,564 From entering phase 1 to before first commercial sale 22,276,410 First commercial sale 14,982,051 Net sales amount more than certain threshold in a year 70,769,231 Subtotal 108,310,256 Diagnostics technology: up to the conditions and milestones of Before FDA approval 198,643 Total $ 108,508,899 For the six months ended June 30, 2022 and 2021, the Group incurred $ nil |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 18. SUBSEQUENT EVENTS The Group has evaluated subsequent events through the date of issuance of the condensed consolidated financial statements, no subsequent event is identified that would have required adjustment or disclosure in the condensed consolidated financial statements. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Principles of presentation and consolidation | Principles of presentation and consolidation The condensed consolidated financial statements of the Group are presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company, its direct and indirect wholly and majority owned subsidiaries. In accordance with the provisions of Accounting Standards Codification (“ASC”) 810, Consolidation, we consolidate any variable interest entity (“VIE”) of which we are the primary beneficiary. The typical condition for a controlling financial interest ownership is holding a majority of the voting interests of an entity; however, a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve controlling voting interests. ASC 810 requires a variable interest holder to consolidate a VIE if that party has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. We do not consolidate a VIE in which we have a majority ownership interest when we are not considered the primary beneficiary. We have determined that we are not the primary beneficiary of one of the VIE (see Note 12, Variable Interest Entity). We evaluate our relationships with the VIE on an ongoing basis to determine whether we become the primary beneficiary. All material intercompany balances and transactions have been eliminated in preparation of the consolidated financial statements. |
Use of estimates | Use of estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as income and expenses during the reporting period. Significant accounting estimates reflected in the Group’s condensed consolidated financial statements include valuation of equity securities, fair value of investments in securities, finance lease, warrants and share options, the useful lives of intangible assets and property, plant and equipment, impairment of long-lived assets, valuation allowance for deferred tax assets, and collectability of receivables. Actual results could differ from those estimates. |
Marketable securities | Marketable securities Marketable securities are publicly traded stocks measured at fair value and classified within Level 1 and 2 in the fair value hierarchy because the Group either uses quoted prices for identical assets in active markets, inputs that are based upon quoted prices for similar instruments in active markets, or quoted prices for identical assets in markets with insufficient volume or infrequent transaction (less active markets). |
Long-term investments | Long-term investments The Group’s long-term investments consist of equity method investment in common stocks and non-marketable investments in non-redeemable preferred shares of privately-held companies that are not required to be consolidated under the variable interest or voting models. Long-term investments are classified as non-current assets on the condensed consolidated balance sheets as those investments do not have stated contractual maturity dates. Non marketable investments The non-marketable equity securities not accounted for under the equity method are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. Adjustments are determined primarily based on a market approach as of the transaction date. Equity method investment – Fair value option The Group elects the fair value option for an investment that would otherwise be accounted for using the equity method of accounting. Such election is irrevocable and is applied on an investment by investment basis at initial recognition. The fair value of such investments is based on quoted prices in an active market, if any, or recent orderly transactions for identical or similar investment of the same issuer. Changes in the fair value of these equity method investments are recognized in other income (loss), net in the condensed consolidated statement of operations. |
Operating leases | Operating leases At the inception of a contract, the Group determines if the arrangement is, or contains, a lease. Operating lease liabilities are recognized at lease commencement based on the present value of lease payments over the lease term. Operating lease right-of-use assets are initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred and less any lease incentives received. As the rate implicit in the lease cannot be readily determined, the Group uses incremental borrowing rate at the lease commencement date in determining the imputed interest and present value of lease payments. The incremental borrowing rate is determined based on the rate of interest that the Group would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term in a similar economic environment. The lease term for all of the Group’s leases includes the non-cancellable period of the lease plus any additional periods covered by either a Group’s option to extend (or not to terminate) the lease that the Group is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. For operating leases, the Group recognizes a single lease cost on a straight-line basis over the remaining lease term. The Group has elected not to recognize right-of-use assets or lease liabilities for leases with an initial term of 12 months or less and the Group recognizes lease expense for these leases on a straight-line basis over the lease terms. |
Revenue recognition | Revenue recognition Revenues are derived from healthcare services rendered to patients for healthcare consultation and medical treatment. Revenue is reported at the amount that reflects the consideration to which the Group expects to be entitled in exchange for providing healthcare services. The Group recognizes revenue as its performance obligations are completed. Healthcare services are treated as a single performance obligation satisfied at a point in time because the performance obligations are generally satisfied less than one day. The Group determines the transaction price based on established billing rates. The Group considers the patient's ability and intent to pay the amount of consideration upon admission. Subsequent changes resulting from a patient’s ability to pay are recorded as bad debt expense, which is included as a component of other operating expenses in the condensed consolidated statements of operations. During the six months ended June 30, 2022 and 2021, the bad debt expenses were $71 and nil |
Recently adopted accounting pronouncements | Recently adopted accounting pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): “Simplifying the Accounting for Income Taxes” (“ASU 2019-12”), which simplifies the accounting for income taxes. The Group adopted this standard effective January 1, 2022. The adoption does not have a material effect on the Group’s condensed consolidated financial statements. In May 2021, the FASB issued ASU No. 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. The ASU addresses the previous lack of specific guidance in the accounting standards codification related to modifications or exchanges of freestanding equity-classified written call options (such as warrants) by specifying the accounting for various modification scenarios. The Group adopted this standard effective January 1, 2022. The adoption does not have a material effect on the Group’s condensed consolidated financial statements. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832). This ASU requires business entities to disclose information about government assistance they receive if the transactions were accounted for by analogy to either a grant or a contribution accounting model. The disclosure requirements include the nature of the transaction and the related accounting policy used, the line items on the balance sheets and statements of operations that are affected and the amounts applicable to each financial statement line item and the significant terms and conditions of the transactions. The Group adopted this standard effective January 1, 2022. The adoption does not have a material effect on the Group’s condensed consolidated financial statements. |
Investment and Fair Value Mea_2
Investment and Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of assets and liabilities carried at fair value measured on a recurring basis | June 30, 2022 (unaudited) Level 1 Level 2 Level 3 Total Current Assets Marketable securities Common stocks $ 9,914 $ 143,991 $ - $ 153,905 Non-current Assets Long-term investments Common stocks $ - $ - $ 77,200 $ 77,200 Total assets at fair value $ 9,914 $ 143,991 $ 77,200 $ 231,105 December 31, 2021 Level 1 Level 2 Level 3 Total Current Assets Marketable securities Common stocks $ 23,527 $ 213,088 $ - $ 236,615 Non-current Assets Long-term investments Common stocks $ - $ - $ 77,200 $ 77,200 Total assets at fair value $ 23,527 $ 213,088 $ 77,200 $ 313,815 |
Schedule of fair value reconciliation of Level 3 assets | Common Balance at January 1, 2022 $ 77,200 Change in unrealized appreciation - Balance at June 30, 2022 (Unaudited) $ 77,200 Net change in unrealized appreciation relating to investments still held at June 30, 2022 - Warrants Balance at January 1, 2021 $ 4,289 Change in unrealized depreciation (4,289 ) Balance at June 30, 2021 (Unaudited) $ - Net change in unrealized depreciation relating to investments still held at June 30, 2021 - |
Schedule of quantitative information about the group’s level 3 fair value measurements of investment | June 30, 2022 Valuation technique Unobservable input Range (weighted average) Common stocks Recent transactions Recent transaction price $0.0001 - $0.01 December 31, 2021 Valuation technique Unobservable input Range (weighted average) Common stocks Recent transactions Recent transaction price $0.0001 - $0.01 |
Schedule of summary of annual upward or downwards adjustments and impairment recorded in other income (loss), net | June 30, June 30, (Unaudited) (Unaudited) Upward adjustments $ 6,108,899 $ - Downward adjustments and impairment (520,821 ) - Gain on investment in non-marketable security, net $ 5,588,078 $ - |
Schedule of carrying value of the non-marketable investments | June 30, December 31, (Unaudited) Initial cost basis $ 4,079,707 $ 4,079,707 Upward adjustments 6,108,899 - Downward adjustments and impairment (520,821 ) - Total carrying value at the end of the period $ 9,667,785 $ 4,079,707 |
Other Receivables and Prepaym_2
Other Receivables and Prepayments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Other Receivables and Prepayments [Abstract] | |
Schedule of other receivables and prepayments | June 30, December 31, (Unaudited) Prepaid research and development expenses $ 520,656 $ 314,165 Prepaid insurance 245,617 92,035 Prepaid service fee 177,498 90,857 Rental deposits 14,783 12,011 Prepaid rental expenses 12,923 13,205 Other receivables 2,489 47,697 Others 23,934 23,508 $ 997,900 $ 593,478 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property, plant and equipment | June 30, December 31, (Unaudited) Computer equipment $ 85,495 $ 85,495 Furniture, fixture, and office and medical equipment 298,738 264,123 Leasehold improvements 542,514 542,514 Laboratory equipment 4,273,465 4,179,064 Motor vehicle under finance leases 239,093 239,093 Assets in construction 1,899,169 1,899,169 7,338,474 7,209,458 Less: accumulated depreciation 4,006,976 3,478,342 Property, plant and equipment, net $ 3,331,498 $ 3,731,116 |
Long-Term Deposits (Tables)
Long-Term Deposits (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of long-term deposits | June 30, December 31, (Unaudited) Rental deposits $ 127,303 $ 149,175 Prepayments for equipment 168,588 147,050 $ 295,891 $ 296,225 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Payables and Accruals [Abstract] | |
Schedule of accounts payable and accrued expenses | June 30, December 31, (Unaudited) Deferred bonus and salaries payable $ 3,884,123 $ 3,173,739 Research and development expenses payable 636,524 519,012 Professional fees payable 159,290 166,190 Cost of healthcare services payable 88,718 142,968 Insurance expenses payable - 35,010 Others 75,207 135,646 $ 4,843,862 $ 4,172,565 |
Related Party Balances and Tr_2
Related Party Balances and Transactions (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
Schedule of amounts due from related parties | June 30, December 31, Current (Unaudited) Libra Sciences Limited $ 193,729 $ 4,193 Libra Therapeutics Limited 17,305 - Talem Medical Group Limited 587,590 - Ian Huen 237 - Jurchen Investment Corporation - 2,000 CGY Investment Limited - 2,000 Total $ 798,861 $ 3,397,650 |
Schedule of amounts due from related parties | June 30, December 31, Current (Unaudited) Sabrina Khan $ 46 $ 844 Darren Lui - 3,449 Clark Cheng - 5,699 Ian Huen - 1,397 Total $ 46 $ 11,389 |
Schedule of related party transactions | For the six months ended 2022 2021 (Unaudited) (Unaudited) Loan from related parties (Note a) - Aeneas Group Limited $ - $ 1,000,000 - Jurchen Investment Corporation $ - $ 2,500,000 Repayment of loan and interest to related parties (Note a) - Aeneas Group Limited $ - $ 1,448,526 - Jurchen Investment Corporation $ - $ 3,085,097 Interest expenses (Note a) - Aeneas Group Limited $ - $ 60,773 - Jurchen Investment Corporation $ - $ 65,644 Loan to a related party (Note f) - Libra Sciences Limited $ 103,789 $ - Repayment of loan and interest from a related party (Note b) - Talem Medical Group Limited $ 2,965,803 $ - Interest incomes (Note b and f) - Talem Medical Group Limited $ 139,105 $ - - Libra Sciences Limited $ 2,051 $ - Consultant, management and administrative fees (Note c) - CGY Investments Limited $ 114,461 $ 80,000 - ACC Medical Limited $ 99,472 $ 79,402 Administrative fees income (Note e) - Libra Sciences Limited $ 19,231 $ - |
Variable Interest Entity (Table
Variable Interest Entity (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Variable Interest Entity Abstract | |
Schedule of the carrying value of VIEs’ assets and liabilities | Assets Liabilities Net Assets June 30, 2022 (Unaudited) Total $ 104,295 $ 2,636 $ 101,659 Assets Liabilities Net Assets December 31, 2021 Total $ 5,361 $ 2,266 $ 3,095 Assets Liabilities Net Assets Maximum June 30, 2022 (Unaudited) Total $ 288,234 $ - $ 288,234 $ 288,234 Assets Liabilities Net Assets Maximum December 31, 2021 Total $ 4,195 $ - $ 4,195 $ 4,195 |
Lease (Tables)
Lease (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Lease[Abstract] | |
Schedule of components of finance leases obligation | For the six months ended 2022 2021 (Unaudited) (Unaudited) Lease cost Finance lease cost: Depreciation $ 23,909 $ 23,909 Interest on lease liabilities 1,105 2,590 Operating lease cost 183,179 212,640 Short-term lease cost 42,716 43,014 Variable lease cost - - Sublease income - - Total lease cost $ 250,909 $ 282,153 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 189,844 $ 206,126 Financing cash flows from finance leases 26,922 26,922 Right-of-use assets obtained in exchange for new operating lease liabilities - Weighted-average remaining lease term – finance leases 0.4 years 1.4 years Weighted-average remaining lease term – operating leases 1.6 years 1.1 years Weighted-average discount rate – finance leases 2.5 % 2.5 % Weighted-average discount rate – operating leases 8.0 % 8.0 % |
Schedule of maturity analysis of operating leases liabilities | June 30, (Unaudited) Remaining periods ending December 31, 2022 $ 188,518 2023 314,366 2024 33,620 Total future undiscounted cash flow 536,504 Less: Discount on operating lease liabilities (32,949 ) Present value of operating lease liabilities 503,555 Less: Current portion of operating lease liabilities (339,649 ) Non-current portion of operating lease liabilities $ 163,906 |
Schedule of value of finance leases liabilities | June 30, 2022 (Unaudited) Remaining periods ending December 31, 2022 $ 22,435 Total future undiscounted cash flow 22,435 Less: Discount on finance lease liabilities (329 ) Present value of finance lease liabilities $ 22,106 |
Share Based Compensation (Table
Share Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Share Based Compensation [Abstract] | |
Schedule of the option activity | Number of Weighted Remaining Aggregate Outstanding, January 1, 2022 1,273,706 3.19 11.01 - Granted 1,531,332 1.34 12.30 Exercised (63,095 ) 2.50 4,926 Forfeited (9,390 ) 2.76 Cancelled (4,334 ) 11.68 Outstanding, June 30, 2022 2,728,219 2.16 11.33 45,492 Exercisable, June 30, 2022 884,801 3.30 10.13 560 Outstanding, January 1, 2021 717,717 3.76 11.22 Granted 752,185 2.76 12.29 Exercised (158,125 ) 3.79 15,969 Forfeited (5,602 ) 2.92 Outstanding, June 30, 2021 1,306,175 3.18 11.50 423,411 Exercisable, June 30, 2021 298,803 4.35 10.40 48,779 |
Schedule of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model | Granted in Granted in Expected volatility 89.55 % 97.70 % Risk-free interest rate 1.86 % 1.64 % Expected term from grant date (in years) 5.63-6.41 5.62-6.41 Dividend rate - - Dilution factor 1 1 Fair value $0.97-$1.02 $2.51-$2.60 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Net Loss Per Share [Abstract] | |
Schedule of basic and diluted income loss per share | For the six months ended 2022 2021 (Unaudited) (Unaudited) Numerator: Net loss attributable to Aptorum Group Limited $ (1,885,252 ) $ (16,081,424 ) Denominator: Basic and diluted weighted average shares outstanding 35,682,652 34,280,137 Basic and diluted loss per share $ (0.05 ) $ (0.47 ) |
Contingent Payment Obligations
Contingent Payment Obligations (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of milestone payments are to be made upon achievements of certain conditions | Amount Drug molecules: up to the conditions and milestones of Preclinical to IND filing $ 282,564 From entering phase 1 to before first commercial sale 22,276,410 First commercial sale 14,982,051 Net sales amount more than certain threshold in a year 70,769,231 Subtotal 108,310,256 Diagnostics technology: up to the conditions and milestones of Before FDA approval 198,643 Total $ 108,508,899 |
Liquidity (Details)
Liquidity (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Liquidity (Details) [Line Items] | ||
Net operating loss | $ 2,729,788 | |
Net operation cash outflow | 6,913,290 | |
Accumulated deficit | (57,422,767) | $ (55,537,515) |
Restricted cash | 3,130,270 | $ 130,270 |
Line of Credit [Member] | ||
Liquidity (Details) [Line Items] | ||
Restricted cash | 4,000,000 | |
Unrestricted cash | $ 12,000,000 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Accounting Policies [Abstract] | ||
Bad debt expenses | $ 71 |
Investment and Fair Value Mea_3
Investment and Fair Value Measurement (Details) - Schedule of assets and liabilities carried at fair value measured on a recurring basis - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Marketable securities | ||
Marketable securities, common stocks | $ 153,905 | $ 236,615 |
Long-term investments | ||
Long-term investments, common stocks | 77,200 | 77,200 |
Total assets at fair value | 231,105 | 313,815 |
Level 1 [Member] | ||
Marketable securities | ||
Marketable securities, common stocks | 9,914 | 23,527 |
Long-term investments | ||
Long-term investments, common stocks | ||
Total assets at fair value | 9,914 | 23,527 |
Level 2 [Member] | ||
Marketable securities | ||
Marketable securities, common stocks | 143,991 | 213,088 |
Long-term investments | ||
Long-term investments, common stocks | ||
Total assets at fair value | 143,991 | 213,088 |
Level 3 [Member] | ||
Marketable securities | ||
Marketable securities, common stocks | ||
Long-term investments | ||
Long-term investments, common stocks | 77,200 | 77,200 |
Total assets at fair value | $ 77,200 | $ 77,200 |
Investment and Fair Value Mea_4
Investment and Fair Value Measurement (Details) - Schedule of fair value reconciliation of Level 3 assets - Fair Value, Inputs, Level 3 [Member] - Common Stocks [Member] - Warrants [Member] - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | $ 77,200 | $ 4,289 |
Change in unrealized appreciation | (4,289) | |
Ending balance | 77,200 | |
Net change in unrealized depreciation relating to investments still held |
Investment and Fair Value Mea_5
Investment and Fair Value Measurement (Details) - Schedule of quantitative information about the group’s level 3 fair value measurements of investment | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Schedule Of Quantitative Information About The Group SLevel3 Fair Value Measurements Of Investment Abstract | ||
Valuation technique | Recent transactions | Recent transactions |
Unobservable input | Recent transaction price | Recent transaction price |
Range (weighted average) | $0.0001 - $0.01 | $0.0001 - $0.01 |
Investment and Fair Value Mea_6
Investment and Fair Value Measurement (Details) - Schedule of summary of annual upward or downwards adjustments and impairment recorded in other income (loss), net - Non-marketable investments [Member] - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Investment and Fair Value Measurement (Details) - Schedule of summary of annual upward or downwards adjustments and impairment recorded in other income (loss), net [Line Items] | ||
Upward adjustments | $ 6,108,899 | |
Downward adjustments and impairment | (520,821) | |
Gain on investment in non-marketable security, net | $ 5,588,078 |
Investment and Fair Value Mea_7
Investment and Fair Value Measurement (Details) - Schedule of carrying value of the non-marketable investments - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Schedule Of Carrying Value Of The Non Marketable Investments Abstract | ||
Initial cost basis | $ 4,079,707 | $ 4,079,707 |
Upward adjustments | 6,108,899 | |
Downward adjustments and impairment | (520,821) | |
Total carrying value at the end of the period | $ 9,667,785 | $ 4,079,707 |
Other Receivables and Prepaym_3
Other Receivables and Prepayments (Details) - Schedule of other receivables and prepayments - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Schedule Of Other Receivables And Prepayments Abstract | ||
Prepaid research and development expenses | $ 520,656 | $ 314,165 |
Prepaid insurance | 245,617 | 92,035 |
Prepaid service fee | 177,498 | 90,857 |
Rental deposits | 14,783 | 12,011 |
Prepaid rental expenses | 12,923 | 13,205 |
Other receivables | 2,489 | 47,697 |
Others | 23,934 | 23,508 |
Other receivables and prepayments | $ 997,900 | $ 593,478 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expenses | $ 528,634 | $ 543,152 |
Property, Plant and Equipment_4
Property, Plant and Equipment, Net (Details) - Schedule of property, plant and equipment - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 7,338,474 | $ 7,209,458 |
Less: accumulated depreciation | 4,006,976 | 3,478,342 |
Property, plant and equipment, net | 3,331,498 | 3,731,116 |
Computer equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 85,495 | 85,495 |
Furniture, fixture, and office and medical equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 298,738 | 264,123 |
Leasehold improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 542,514 | 542,514 |
Laboratory equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 4,273,465 | 4,179,064 |
Motor vehicle under finance leases [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 239,093 | 239,093 |
Assets in construction [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 1,899,169 | $ 1,899,169 |
Long-Term Deposits (Details) -
Long-Term Deposits (Details) - Schedule of long-term deposits - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Schedule Of Long Term Deposits Abstract | ||
Rental deposits | $ 127,303 | $ 149,175 |
Prepayments for equipment | 168,588 | 147,050 |
Long-term deposits | $ 295,891 | $ 296,225 |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Expenses (Details) - Schedule of accounts payable and accrued expenses - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Schedule Of Accounts Payable And Accrued Expenses Abstract | ||
Deferred bonus and salaries payable | $ 3,884,123 | $ 3,173,739 |
Research and development expenses payable | 636,524 | 519,012 |
Professional fees payable | 159,290 | 166,190 |
Cost of healthcare services payable | 88,718 | 142,968 |
Insurance expenses payable | 35,010 | |
Others | 75,207 | 135,646 |
Accounts payable and accrued expenses | $ 4,843,862 | $ 4,172,565 |
Income Taxes (Details)
Income Taxes (Details) | 6 Months Ended |
Jun. 30, 2022 | |
Hong Kong [Member] | |
Income Taxes (Details) [Line Items] | |
Income tax rate percentage | 16.50% |
United Kingdom [Member] | |
Income Taxes (Details) [Line Items] | |
Income tax rate percentage | 19% |
Singapore [Member] | |
Income Taxes (Details) [Line Items] | |
Income tax rate percentage | 17% |
United States [Member] | |
Income Taxes (Details) [Line Items] | |
Income tax rate percentage | 21% |
Canada [Member] | |
Income Taxes (Details) [Line Items] | |
Income tax rate percentage | 15% |
Ireland [Member] | |
Income Taxes (Details) [Line Items] | |
Income tax rate percentage | 12.50% |
Related Party Balances and Tr_3
Related Party Balances and Transactions (Details) | 6 Months Ended | 12 Months Ended | ||||||||||
Jan. 13, 2022 USD ($) | Jan. 01, 2022 USD ($) | Jan. 01, 2022 HKD ($) | Nov. 17, 2021 USD ($) | May 27, 2021 USD ($) | Aug. 13, 2019 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2022 HKD ($) | Dec. 31, 2021 | Feb. 25, 2022 shares | Nov. 17, 2021 AUD ($) | Jan. 02, 2021 shares | |
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Concentration risk threshold percentage | 20% | |||||||||||
Line of credit | $ 15,000,000 | |||||||||||
Line of credit maturity date | Aug. 12, 2022 | |||||||||||
Line of credit term | 3 years | |||||||||||
Outstanding principal indebtedness rate | 8% | |||||||||||
Line of credit facility | $ 12,000,000 | |||||||||||
Working capital (in Dollars) | $ 700,000 | |||||||||||
Bearing interest rate | 10% | 10% | ||||||||||
Maturity date | 6 months | |||||||||||
Borrower outstanding | $ 554,000 | $ 0 | ||||||||||
Expiry date | Jan. 12, 2023 | |||||||||||
Line of credit operation | $ 1,000,000 | |||||||||||
Line of credit extendable | 3 years | |||||||||||
Interest on outstanding principal rate | 10% | |||||||||||
Increase decrease in additional paid-in capital | $ 303,419 | |||||||||||
Aptorum Therapeutics Limited [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Maturity date | 6 months | |||||||||||
Aptus Management Limited [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Services fees | $ 3,205 | $ 25,000 | ||||||||||
Expiry date | Dec. 31, 2023 | Dec. 31, 2023 | ||||||||||
Libra Sciences Limited [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Concentration risk threshold percentage | 50% | |||||||||||
CGY Investments Limited [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Management services income received | $ 13,333 | $ 104,000 | ||||||||||
Services fees | 21,949 | 171,200 | ||||||||||
ACC Medical Limited [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Services fees | 18,359 | 143,200 | ||||||||||
Business development | $ 13,018 | $ 101,542 | ||||||||||
Clark Cheng [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Shares issued (in Shares) | shares | 117 | |||||||||||
Clark Cheng [Member] | Minimum [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Equity interest, percentage | 93% | |||||||||||
Clark Cheng [Member] | Maximum [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Equity interest, percentage | 92% | |||||||||||
Aptorum Medical Limited [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Shares issued (in Shares) | shares | 119 | |||||||||||
Aptorum Medical Limited [Member] | Minimum [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Equity interest, percentage | 92% | |||||||||||
Aptorum Medical Limited [Member] | Maximum [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Equity interest, percentage | 91% | |||||||||||
Aeneas Group Limited [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Consideration value | $ 1 | |||||||||||
Line of Credit [Member] | ||||||||||||
Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||
Maturity date | 6 months |
Related Party Balances and Tr_4
Related Party Balances and Transactions (Details) - Schedule of amounts due from related parties - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Related Party Balances and Transactions (Details) - Schedule of amounts due from related parties [Line Items] | ||
Amounts due from related parties | $ 798,861 | $ 3,397,650 |
Libra Sciences Limited [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due from related parties [Line Items] | ||
Amounts due from related parties | 193,729 | 4,193 |
Libra Therapeutics Limited [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due from related parties [Line Items] | ||
Amounts due from related parties | 17,305 | |
Talem Medical Group Limited [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due from related parties [Line Items] | ||
Amounts due from related parties | 587,590 | |
Ian Huen [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due from related parties [Line Items] | ||
Amounts due from related parties | 237 | |
Jurchen Investment Corporation [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due from related parties [Line Items] | ||
Amounts due from related parties | 2,000 | |
CGY Investment Limited [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due from related parties [Line Items] | ||
Amounts due from related parties | $ 2,000 |
Related Party Balances and Tr_5
Related Party Balances and Transactions (Details) - Schedule of amounts due to related parties - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Related Party Balances and Transactions (Details) - Schedule of amounts due to related parties [Line Items] | ||
Amounts due to related parties | $ 46 | $ 11,389 |
Sabrina Khan [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due to related parties [Line Items] | ||
Amounts due to related parties | 46 | 844 |
Darren Lui [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due to related parties [Line Items] | ||
Amounts due to related parties | 3,449 | |
Clark Cheng [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due to related parties [Line Items] | ||
Amounts due to related parties | 5,699 | |
Ian Huen [Member] | ||
Related Party Balances and Transactions (Details) - Schedule of amounts due to related parties [Line Items] | ||
Amounts due to related parties | $ 1,397 |
Related Party Balances and Tr_6
Related Party Balances and Transactions (Details) - Schedule of related party transactions - USD ($) | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | ||
Aeneas Group Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Loan from related parties | [1] | $ 1,000,000 | |
Repayment of loan and interest to related parties | [1] | 1,448,526 | |
Jurchen Investment Corporation [Member] | |||
Related Party Transaction [Line Items] | |||
Loan from related parties | [1] | 2,500,000 | |
Repayment of loan and interest to related parties | [1] | 3,085,097 | |
Interest expenses | [1] | 65,644 | |
Aeneas Technology (Hong Kong) Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Interest expenses | [1] | 60,773 | |
Libra Sciences Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Loan to a related party | [2] | 103,789 | |
Interest incomes | [2],[3] | 2,051 | |
Administrative fees income | [4] | 19,231 | |
Talem Medical Group Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Repayment of loan and interest from a related party | [3] | 2,965,803 | |
Interest incomes | [2],[3] | 139,105 | |
CGY Investments Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Consultant, management and administrative fees | [5] | 114,461 | 80,000 |
ACC Medical Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Consultant, management and administrative fees | [5] | $ 99,472 | $ 79,402 |
[1]On August 13, 2019, Aptorum Therapeutics Limited (“ATL”), a wholly owned subsidiary of the Company, entered into financing arrangements with Aeneas Group Limited, a related party, and Jurchen Investment Corporation, the ultimate parent of the Group, allowing ATL to access up to a total $15 million in line of credit debt financing. Both line of credits have originally matured on August 12, 2022. ATL and Aeneas Group Limited has mutually agreed to extend the line of credit arrangement further 3 years to August 12, 2025. The interest on the outstanding principal indebtedness is at the rate of 8% per annum. ATL may early repay, in whole or in part, the principal indebtedness and all interest accrued at any time prior to the maturity date without the prior written consent of the lender and without payment of any premium or penalty. As of the date of this condensed consolidated financial statements, the undrawn line of credit facility is $12 million.[2]On January 13, 2022, ATL entered a line of credit facility with Libra Sciences Limited to provide up to a total $1 million line of credit for its daily operation. The line of credit will mature on January 12, 2023, extendable for up to 3 years, and the interest on the outstanding principal indebtedness will be at the rate of 10% per annum.[3]On November 17, 2021, Aptorum Therapeutics Limited (the “Lender”) entered into a loan agreement with Talem Medical Group Limited (the “Borrower”). According to the loan agreement, the Lender granted a loan of up to AUD4,700,000 for the Borrower for general working capital purposes of the Borrower and its subsidiaries. The loan is interest-bearing at a rate of 10% per annum and secured by the entire issued shares of Talem Medical Group (Australia) Pty Limited held by the Borrower. The loan is initially matured 6 months from the date of the first drawdown. The maturity date is extended for 6 months to the first extended maturity date, and may further extendable for another 6 months to the second extended maturity date, if certain conditions stated in loan agreement are satisfied. As of the date of this condensed consolidated financial statements, AUD800,000 (approximately $554,000) is outstanding from the Borrower following a partial repayment.[4]On January 1, 2022, Aptus Management Limited (“AML”), a wholly owned subsidiary of the Company, entered into an administrative management services agreement with Libra Sciences Limited. According to the agreement, AML will provide documentation and administrative services, include but are not limited to human resources and payroll administration, general secretarial and administrative support, and accounting and financial reporting services. AML is entitled to receive a fixed amount of services fees of HKD 25,000 (approximately $3,205) per calendar month with the expiry date on December 31, 2023.[5]CGY Investment Limited provided certain consultancy, advisory and management services to the Group on potential investment projects related to healthcare or R&D platforms. CGY Investment Limited is initially entitled to receive HK $104,000 (approximately $13,333) per calendar month plus reimbursement; such the monthly service fee is adjusted to HK$171,200 (approximately US$21,949) with effect from March 1, 2022. The agreement will be remained in effect until 1 month’s notice in writing is given by either party. ACC Medical Limited provided certain consultancy, advisory, and management services to the Group on clinic operations and other related projects for clinics’ business development. ACC Medical Limited is initially entitled to receive HK $101,542 (approximately $13,018) per calendar month plus reimbursement; such monthly service fee is adjusted to HK$143,200 (approximately US$18,359 per month) effective from March 1, 2022. The agreement will be remained in effect until 1 month’s notice in writing is given by either party. |
Variable Interest Entity (Detai
Variable Interest Entity (Details) | 1 Months Ended | |||||
Jan. 13, 2022 | Dec. 31, 2021 | Dec. 30, 2021 | Jun. 30, 2022 USD ($) | Jan. 01, 2022 USD ($) | Jan. 01, 2022 HKD ($) | |
Variable Interest Entity (Details) [Line Items] | ||||||
Voting description | On December 30, 2021, three of the Group’s subsidiaries, Libra Sciences Limited (“Libra”, formerly known as Aptorum Pharmaceutical Development Limited), Mios Pharmaceuticals Limited (“Mios”) and Scipio Life Sciences Limited (“Scipio”), issued Class A and Class B ordinary shares to various parties; for each such entity, each Class A ordinary share is entitled to 1 vote and 1 share of economic benefit of the respective company, while each Class B ordinary share is entitled to 10 votes and 0.001 share of economic benefit of the respective company. | |||||
Equity investment (in Dollars) | $ 0 | |||||
Services fees | $ 3,205 | $ 25,000 | ||||
Line of credit facility description | On January 13, 2022, the Group entered a line of credit facility with Libra to provide up to a total $1 million in line of credit debt financing for its daily operation. The line of credit will mature on January 12, 2023, extendable for up to 3 years, and the interest on the outstanding principal indebtedness will be at the rate of 10% per annum. | |||||
Libra [Member] | ||||||
Variable Interest Entity (Details) [Line Items] | ||||||
Economic interest percentage | 97.27% | |||||
Voting percentage | 31.51% | |||||
Mios [Member] | ||||||
Variable Interest Entity (Details) [Line Items] | ||||||
Economic interest percentage | 97.93% | |||||
Voting percentage | 36.17% | |||||
Scipio [Member] | ||||||
Variable Interest Entity (Details) [Line Items] | ||||||
Economic interest percentage | 97.93% | |||||
Voting percentage | 35.06% | |||||
Business Combination [Member] | Libra [Member] | ||||||
Variable Interest Entity (Details) [Line Items] | ||||||
Voting power owned percentage | 48.33% | |||||
Business Combination [Member] | Mios [Member] | ||||||
Variable Interest Entity (Details) [Line Items] | ||||||
Voting power owned percentage | 48.39% | |||||
Business Combination [Member] | Scipio [Member] | ||||||
Variable Interest Entity (Details) [Line Items] | ||||||
Voting power owned percentage | 48.36% |
Variable Interest Entity (Det_2
Variable Interest Entity (Details) - Schedule of the carrying value of VIEs’ assets and liabilities - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Assets [Member] | ||
Variable Interest Entity (Details) - Schedule of the carrying value of VIEs’ assets and liabilities [Line Items] | ||
Assets | $ 104,295 | $ 5,361 |
Net Assets [Member] | ||
Variable Interest Entity (Details) - Schedule of the carrying value of VIEs’ assets and liabilities [Line Items] | ||
Net Assets | 101,659 | 3,095 |
Variable interest [Member] | Assets [Member] | ||
Variable Interest Entity (Details) - Schedule of the carrying value of VIEs’ assets and liabilities [Line Items] | ||
Assets | 288,234 | 4,195 |
Variable interest [Member] | Net Assets [Member] | ||
Variable Interest Entity (Details) - Schedule of the carrying value of VIEs’ assets and liabilities [Line Items] | ||
Net Assets | 288,234 | 4,195 |
Liabilities [Member] | ||
Variable Interest Entity (Details) - Schedule of the carrying value of VIEs’ assets and liabilities [Line Items] | ||
Liabilities | 2,636 | 2,266 |
Liabilities [Member] | Variable interest [Member] | ||
Variable Interest Entity (Details) - Schedule of the carrying value of VIEs’ assets and liabilities [Line Items] | ||
Liabilities | ||
Maximum Exposure to Losses [Member] | Variable interest [Member] | ||
Variable Interest Entity (Details) - Schedule of the carrying value of VIEs’ assets and liabilities [Line Items] | ||
Maximum Exposure to Losses | $ 288,234 | $ 4,195 |
Lease (Details)
Lease (Details) | Jun. 30, 2022 | Jun. 30, 2021 |
Lease[Abstract] | ||
Weighted average remaining lease term | 1 year 7 months 6 days | 1 year 1 month 6 days |
Weighted average discount rates | 8% |
Lease (Details) - Schedule of c
Lease (Details) - Schedule of components of finance leases obligation - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Finance lease cost: | ||
Depreciation | $ 23,909 | $ 23,909 |
Interest on lease liabilities | 1,105 | 2,590 |
Operating lease cost | 183,179 | 212,640 |
Short-term lease cost | 42,716 | 43,014 |
Variable lease cost | ||
Sublease income | ||
Total lease cost | 250,909 | 282,153 |
Cash paid for amounts included in the measurement of lease liabilities | ||
Operating cash flows from operating leases | 189,844 | 206,126 |
Financing cash flows from finance leases | 26,922 | 26,922 |
Right-of-use assets obtained in exchange for new operating lease liabilities | ||
Weighted-average remaining lease term – finance leases | 4 months 24 days | 1 year 4 months 24 days |
Weighted-average remaining lease term – operating leases | 1 year 7 months 6 days | 1 year 1 month 6 days |
Weighted-average discount rate – finance leases | 2.50% | 2.50% |
Weighted-average discount rate – operating leases | 8% | 8% |
Lease (Details) - Schedule of m
Lease (Details) - Schedule of maturity analysis of operating leases liabilities | Jun. 30, 2022 USD ($) |
Schedule Of Maturity Analysis Of Operating Leases Liabilities Abstract | |
2022 | $ 188,518 |
2023 | 314,366 |
2024 | 33,620 |
Total future undiscounted cash flow | 536,504 |
Less: Discount on operating lease liabilities | (32,949) |
Present value of operating lease liabilities | 503,555 |
Less: Current portion of operating lease liabilities | (339,649) |
Non-current portion of operating lease liabilities | $ 163,906 |
Lease (Details) - Schedule of v
Lease (Details) - Schedule of value of finance leases liabilities | Jun. 30, 2022 USD ($) |
Schedule Of Value Of Finance Leases Liabilities Abstract | |
2022 | $ 22,435 |
Total future undiscounted cash flow | 22,435 |
Less: Discount on finance lease liabilities | (329) |
Present value of finance lease liabilities | $ 22,106 |
Ordinary Shares (Details)
Ordinary Shares (Details) - USD ($) | 1 Months Ended | |||
May 26, 2021 | Mar. 26, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Ordinary Shares (Details) [Line Items] | ||||
Aggregate gross proceeds (in Dollars) | $ 4,000,000 | |||
Class A Ordinary Shares [Member] | ||||
Ordinary Shares (Details) [Line Items] | ||||
Aggregate offering price (in Dollars) | $ 15,000,000 | |||
Ordinary shares issued | 1,387,925 | |||
Ordinary per share (in Dollars per share) | $ 2.882 | |||
Ordinary shares percentage | 10% | |||
Shares issued | 63,095 | 198,125 |
Share Based Compensation (Detai
Share Based Compensation (Details) - USD ($) | 6 Months Ended | ||||||||||
Mar. 08, 2022 | Mar. 11, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jan. 01, 2024 | Jan. 01, 2023 | Jul. 14, 2022 | Jun. 08, 2022 | Jan. 01, 2022 | Jul. 14, 2021 | Jun. 08, 2021 | |
Share Based Compensation (Details) [Line Items] | |||||||||||
Options granted (in Shares) | 1,531,332 | 752,185 | |||||||||
Excersie price per share | $ 1.34 | $ 2.76 | |||||||||
Options vested | $ 14,926 | $ 18,657 | $ 367,950 | $ 7,247 | $ 9,058 | ||||||
2017 Share Option Plan [Member] | |||||||||||
Share Based Compensation (Details) [Line Items] | |||||||||||
Exercise Price | $ 1 | $ 2.57 | |||||||||
Maximum contractual term | 12 years 9 months 18 days | ||||||||||
Forecast [Member] | |||||||||||
Share Based Compensation (Details) [Line Items] | |||||||||||
Options vested | $ 748,868 | $ 367,930 | |||||||||
Forecast [Member] | Share Option Plan [Member] | |||||||||||
Share Based Compensation (Details) [Line Items] | |||||||||||
Options vested | $ 748,881 | ||||||||||
Non-employees [Member] | Maximum [Member] | |||||||||||
Share Based Compensation (Details) [Line Items] | |||||||||||
Share-based compensation charges (in Dollars) | $ 452,758 | ||||||||||
Non-employees [Member] | Minimum [Member] | |||||||||||
Share Based Compensation (Details) [Line Items] | |||||||||||
Share-based compensation charges (in Dollars) | $ 230,572 | ||||||||||
Employees [Member] | Maximum [Member] | |||||||||||
Share Based Compensation (Details) [Line Items] | |||||||||||
Share-based compensation charges (in Dollars) | $ 491,696 | ||||||||||
Employees [Member] | Minimum [Member] | |||||||||||
Share Based Compensation (Details) [Line Items] | |||||||||||
Share-based compensation charges (in Dollars) | $ 221,223 |
Share Based Compensation (Det_2
Share Based Compensation (Details) - Schedule of the option activity - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule Of The Option Activity Abstract | ||
Number of share options, Outstanding Beginning | 1,273,706 | 717,717 |
Weighted average exercise price, Outstanding Beginning | $ 3.19 | $ 3.76 |
Remaining contractual term in years, Outstanding Beginning | 11 years 3 days | 11 years 2 months 19 days |
Number of share options, Outstanding, Granted | 1,531,332 | 752,185 |
Weighted average exercise price, Granted | $ 1.34 | $ 2.76 |
Remaining contractual term in years, Granted | 12 years 3 months 18 days | 12 years 3 months 14 days |
Number of share options, Outstanding, Exercised | (63,095) | (158,125) |
Weighted average exercise price, Exercised | $ 2.5 | $ 3.79 |
Aggregate Intrinsic value, Exercised | $ 4,926 | $ 15,969 |
Number of share options, Outstanding, Forfeited | (9,390) | (5,602) |
Weighted average exercise price, Forfeited | $ 2.76 | $ 2.92 |
Number of share options, Outstanding, Cancelled | (4,334) | |
Weighted average exercise price, Cancelled | $ 11.68 | |
Number of share options, Outstanding, Outstanding, Ending | 2,728,219 | 1,306,175 |
Weighted average exercise price, Outstanding, Ending | $ 2.16 | $ 3.18 |
Remaining contractual term in years, Outstanding, Ending | 11 years 3 months 29 days | 11 years 6 months |
Aggregate Intrinsic value, Ending | $ 45,492 | $ 423,411 |
Number of share options, Outstanding,Exercisable | 884,801 | 298,803 |
Weighted average exercise price, Exercisable | $ 3.3 | $ 4.35 |
Remaining contractual term in years, Exercisable | 10 years 1 month 17 days | 10 years 4 months 24 days |
Aggregate Intrinsic value, Exercisable | $ 560 | $ 48,779 |
Share Based Compensation (Det_3
Share Based Compensation (Details) - Schedule of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model - $ / shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule Of Each Stock Option Award Is Estimated On The Date Of Grant Using The Black Scholes Option Pricing Model Abstract | ||
Expected volatility | 89.55% | 97.70% |
Risk-free interest rate | 1.86% | 1.64% |
Expected term from grant date (in years), minimum | 5 years 7 months 17 days | 5 years 7 months 13 days |
Expected term from grant date (in years), maximum | 6 years 4 months 28 days | 6 years 4 months 28 days |
Dividend rate | ||
Dilution factor | $ 1 | $ 1 |
Fair value, minimum | 0.97 | 2.51 |
Fair value, maximum | $ 1.02 | $ 2.6 |
Net Loss Per Share (Details) -
Net Loss Per Share (Details) - Schedule of basic and diluted income loss per share - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Numerator: | ||
Net loss attributable to Aptorum Group Limited | $ (1,885,252) | $ (16,081,424) |
Denominator: | ||
Basic and diluted weighted average shares outstanding | 35,682,652 | 34,280,137 |
Basic and diluted loss per share | $ (0.05) | $ (0.47) |
Net Loss Per Share (Details) _2
Net Loss Per Share (Details) - Schedule of basic and diluted income loss per share (Parentheticals) - $ / shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule Of Basic And Diluted Income Loss Per Share Abstract | ||
Basic and diluted weighted average share outstanding | 35,682,652 | 34,280,137 |
Basic and diluted loss per shares | $ (0.05) | $ (0.47) |
Contingent Payment Obligation_2
Contingent Payment Obligations (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Non-cancellable purchase commitments | $ 49,166 | |
Milestone payments | $ 59,232 |
Contingent Payment Obligation_3
Contingent Payment Obligations (Details) - Schedule of milestone payments are to be made upon achievements of certain conditions | Jun. 30, 2022 USD ($) |
Drug molecules: up to the conditions and milestones of | |
Preclinical to IND filing | $ 282,564 |
From entering phase 1 to before first commercial sale | 22,276,410 |
First commercial sale | 14,982,051 |
Net sales amount more than certain threshold in a year | 70,769,231 |
Subtotal | 108,310,256 |
Diagnostics technology: up to the conditions and milestones of | |
Before FDA approval | 198,643 |
Total | $ 108,508,899 |