Apimeds Pharmaceuticals US, Inc. reported its financial results for the second quarter ended June 30, 2025, on August 19, 2025. The company posted a net loss of $2.66 million for the three months ended June 30, 2025, a significant increase from a net loss of $449,363 in the same period of 2024. For the six months ended June 30, 2025, the net loss widened to $3.06 million, compared to $745,836 in the prior year.
Research and development expenses surged to $651,784 for both the three and six months ended June 30, 2025, up from zero in the prior year periods, driven by payroll, stock-based compensation, and clinical trial costs. General and administrative expenses also increased to $2.01 million for the three months and $2.38 million for the six months, primarily due to $1.45 million in stock-based compensation and increased professional services.
As of June 30, 2025, Apimeds held $8.74 million in cash, a substantial improvement from $3,455 at December 31, 2024, primarily due to $11.90 million in net cash proceeds from its IPO. Management projects this cash position will fund operations for at least the next twelve months from the August 19, 2025, filing date. However, the company also identified material weaknesses in its internal controls over financial reporting, citing deficiencies in journal entry review, segregation of duties, and reconciliations as of June 30, 2025.
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