Apnimed's IPO
Listed Jul 31, 2026 at $16 on Nasdaq as APMD.
Today 18% above its $16 offer price; its first day closed +56.3%.
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What does Apnimed do?
“We are a late stage clinical pharmaceutical company dedicated to the discovery, development and commercialization of novel oral therapies that address the neurobiology of sleep-related breathing diseases.”
| Fact | Apnimed |
|---|---|
| Incorporated | Delaware, 2017 |
| Employees | 65 full-time, as of March 31, 2026 |
| Website | apnimed.com |
What is the offering?
Each figure names the filing it is from and that filing's date. The market cap is Breakaway's arithmetic from the prospectus's share count.
| Fact | Apnimed |
|---|---|
| Shares offered | 12,000,000 |
| Offer price | $16 a share |
| Raised at that price | $192 million |
| Underwriters' discount | $13.4 million |
| Net proceeds the company expects | About $174 million |
| Underwriters' option | 1,800,000 more shares |
| Underwriters | BofA Securities, Evercore ISI, Cantor, and LifeSci Capital |
| Exchange | Nasdaq Global Select Market, as APMD |
| Shares outstanding after | 39,823,183 |
| Market cap at the offer price | $637 million |
What the filing says about its money
| Fact | Apnimed |
|---|---|
| Net loss | $128 million, year to December 31, 2025 |
| Cash | $46.9 million, as of March 31, 2026 |
| Last preferred stock | Series D preferred |
| Raised before the IPO | $389 million in private financings |
What risks does Apnimed name first?
- “We are a late stage clinical pharmaceutical company and have incurred significant operating losses since our inception and we expect to incur significant operating losses for the foreseeable future.”
- “Our existing and any future indebtedness could adversely affect our ability to operate our business.”
- “Even if this offering is successful, we will require substantial additional funding in order to finance operations.”
Every date of Apnimed's IPO
| What | Day |
|---|---|
| Registration filed | Jul 10, 2026 |
| Exchange registration filed | Jul 29, 2026 |
| Declared effective by the SEC | Jul 30, 2026 |
| Priced | Jul 30, 2026 |
| First trade | Jul 31, 2026 |
| Lock-up ends | Jan 26, 2027 |
How did its first days trade?
From its daily bars, each close against its $16 offer price.
| Day | Open | Close | From the offer |
|---|---|---|---|
| Jul 31 | $22 | $25 | +56.3% |
| Aug 3 | $24.29 | $25 | +56.3% |
| Aug 4 | $25.01 | $25.71 | +60.7% |
| Aug 5 | $26 | $26.51 | +65.7% |
| Aug 6 | $26.78 | $27.88 | +74.3% |
What is Apnimed's Quality Score?
Below Average
APMD's page, with every reason behind its scoreThe other IPOs expected
| Company | Price |
|---|---|
| $19 to $21 | |
| $15 to $17 | |
| $15 to $17 | |
| $7 | |
| $5 to $7 |
Apnimed IPO questions
When is Apnimed's IPO?
Listed Jul 31, 2026 at $16 on Nasdaq as APMD.
What is Apnimed's IPO price?
Apnimed's IPO priced at $16 a share, per its final prospectus of Jul 31, 2026.
How many shares is Apnimed selling?
12,000,000 shares, and the underwriters may buy 1,800,000 more, per its final prospectus (424B4).
Who are the underwriters?
BofA Securities, Evercore ISI, Cantor, and LifeSci Capital, as the prospectus's cover names them.
When does the lock-up end?
Apnimed's IPO lock-up ends Jan 26, 2027. Its final prospectus says: “.”
Does Breakaway rate Apnimed?
Apnimed has a Quality Score of 1 today. The score counts the 14 chart checks and the company's filings; a check that needs more history than a new stock has waits for it.
Can Breakaway say where Apnimed's price will go?
No. Breakaway does not say where a price will go. Every figure here is from the company's SEC filings, linked on each line.
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