₿$63,531.51▲ 3.36%
Apimeds Pharmaceuticals US, Inc.
Former clinical-stage biopharmaceutical company (Apitox, a non-opioid bee-venom pain therapy) that became a Digital Asset Treasury company through its December 1, 2025 reverse merger with MindWave Innovations Inc. The merger brought approximately 1,000 bitcoin onto the balance sheet (contributed by MindWave and acquired with Series A convertible preferred and common stock consideration), alongside USDT and MindWaveDAO NILA tokens. The bitcoin is held in a segregated, risk-managed structure under an AI-driven yield-generation strategy, while the legacy biotech operations are being transferred to a subsidiary (Lokahi Therapeutics).
BTC Holdings
1,000 BTC
180d
Stock PriceUpdated 6h ago
$1.25▼ 3.10%
180d
Total financing
11.40M USD
180d
mNAV
0.30x▼ 6.25%
180d
Leverage
16.4%
180d
BTC Risk
0.00%6.1x
Sats/Share
6,314
180d
Mkt cap
18.86M USD
Shares
15.09M
Fiat reserve
979.53K USD
Total reserve
64.51M USD
Dilution
0.0%
Coverage
2540.8 yr
BTC mix
0%
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| APUS-Dec26 | Dec '25 – Dec '26 | 0% | 10.90M USD | 10.90M USD | — | 6.4x |
| Total | 10.90M USD | |||||
Analytics
BTC Coverage
FinancialsUnverified
US-GAAPQuarterlyAs of 2026-03-31
Balance Sheet
Total Assets$141.2M
Total Liabilities$14.7M
Stockholders' Equity$126.5M
Cash & Equivalents$979.5K
Total Debt$9.4M
Digital Assets$127.8M
Income Statement
Revenue$0
Operating Income$-12.2M
Net Income$-35.1M
Interest Expense$859.4K
Cash Flow
Operating Cash Flow$-2.1M
Recent Changes
Mon, Jun 8, 2026
BTC Holdings
998→1.0K+2 BTC(+0.2%)
Tracker figure (current point, newer than latest filing).
BTC Holdings TrackerTue, May 26, 2026
Shares Outstanding
12.6M→15.1M+2.5M(+20.0%)
Form 10-Q (Q1 2026)
Tue, Mar 31, 2026
BTC Holdings
1.0K→998-2 BTC(-0.2%)
Derived from BTC fair value of $66,552,480; company discloses BTC at fair value only (no unit count). Digital assets also include USDT and NILA tokens.
Form 10-Q (Q1 2026)Debt OutstandingDrawAPUS-RPN
500.1K
Outstanding balance as reported.
Form 10-Q (Q1 2026)Fiat Reserve
1.6M→979.5K-657.1K(-40.2%)USD
Cash and cash equivalents; excludes $8.0M restricted DACA cash.
Form 10-Q (Q1 2026)Mon, Mar 30, 2026
Debt OutstandingIssuanceAPUS-PN26
1.0M
Form 10-Q (Q1 2026)
Wed, Dec 31, 2025
Shares Outstanding
12.6M
Form 10-Q (Q1 2026)
Fiat Reserve
1.6MUSD
Cash and cash equivalents; excludes $8.0M restricted DACA cash.
Form 10-Q (Q1 2026)