IPOs/The Nasdaq Global Select Market/2026/Apnimed, Inc.

Apnimed, Inc. APMD

Apnimed, Inc. (APMD) priced its IPO on The Nasdaq Global Select Market on July 31, 2026 at $16.00 a share. A late stage clinical pharmaceutical company developing novel oral therapies, led by Oxnimbi (AD109), for adults with obstructive sleep apnea. Based in Cambridge, Massachusetts.

Registered
Priced
TradingYes
Offer price
$16.00
Raised
Not given
Shares offered
12,000,000 shares
Lock-up
180 days
See the prospectus →

The company

Apnimed, Inc. is a late stage clinical pharmaceutical company in Cambridge, Massachusetts, developing novel oral therapies for adults with obstructive sleep apnea, led by Oxnimbi (AD109). The company sold 12,000,000 shares at $16.00 per share on The Nasdaq Global Select Market under the ticker APMD.

Net proceeds of approximately $173.6 million are set for Oxnimbi's regulatory approval process and commercial launch if approved, research and development for additional candidates, and working capital. All 12,000,000 shares came from the company, and existing holders are subject to a 180 day lock-up.

Where the money goes

Fund regulatory approval process for Oxnimbi
Fund commercial launch of Oxnimbi, if approved
Research and development for additional product candidates
Working capital and other general corporate purposes

Revenue and results

Revenue, Three months ended March 31, 2026$84,814 thousand
Revenue, Three months ended March 31, 2025$3,131 thousand
Revenue, Year ended December 31, 2025$38,467 thousand
Revenue, Year ended December 31, 2024$8,012 thousand
Net result, Three months ended March 31, 2026$67,719 thousand net income
Net result, Three months ended March 31, 2025$28,646 thousand net loss
Net result, Year ended December 31, 2025$128,191 thousand net loss
Net result, Year ended December 31, 2024$111,305 thousand net loss

The risks it lists first

Significant operating losses since inception; may never become profitable.
Existing and future indebtedness could adversely affect ability to operate business.
Will require substantial additional funding even if this offering succeeds.