Apnimed Q2 net income $125.9M on gains; FDA accepts AD109 NDA, PDUFA Feb 28 2027

Apnimed, Inc.

Net income $125.9M vs net loss $69.5M year-ago; driven by $85.4M gain on equity-method investment sale and $57.1M deposit liability reversal.
R&D expenses $9.9M, down 38% YoY ($16.0M); G&A $12.7M, up >100% from $5.4M on commercialization prep.
Cash and equivalents $172.8M at June 30, 2026; upsized IPO raised $220.8M gross (13.8M shares at $16.00).
FDA accepted NDA for AD109 (proposed name Oxnimbi) for obstructive sleep apnea; PDUFA target date Feb 28, 2027.
Closed senior secured credit facility up to $150M with HealthCare Royalty Partners; monetized Shionogi-Apnimed interest for $100M upfront.

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