secwatch.observer — SEC 8-K summary
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Issuer:     Apnimed, Inc. (APMD)
CIK:        0001745648
Form:       8-K
Filed at:   2026-09-08T21:10:53+00:00
Accession:  0001193125-26-385355
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1745648/000119312526385355/0001193125-26-385355-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1745648/000119312526385355/apmd-20260908.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-385355

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer