Apnimed Announces Closing of Upsized Initial Public Offering, Including Full Exercise of Underwriters' Option to Purchase Additional Shares

Apnimed, Inc. (Nasdaq: APMD) (“Apnimed”), 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, today announced the closing of its upsized initial public offering of an aggregate of 13,800,000 shares of its common stock, including the full exercise by the underwriters of their overallotment option to purchase 1,800,000 additional shares, at an initial public offering price of $16.00 per share.

Apnimed’s common stock began trading on the Nasdaq Global Select Market on July 31, 2026, under the ticker symbol “APMD”.

The gross proceeds to Apnimed from the initial public offering, including full exercise of the underwriters’ option to purchase additional shares, before deducting underwriting discounts and commissions and offering expenses payable by Apnimed, were $220.8 million.

About Apnimed Apnimed is 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. We believe the introduction of once-nightly oral drugs has the potential to expand diagnosis and the reach of treatment for people with obstructive sleep apnea (OSA). We believe that people with OSA would benefit from having multiple drugs with differing mechanisms to more fully address the heterogeneity of OSA’s disease pathophysiology. Apnimed envisions a new era where novel oral therapies simplify intervention, expand the reach of diagnosis and treatment, and help more people get the oxygen and restorative sleep needed to thrive. Based in Cambridge, Massachusetts, Apnimed is advancing its product candidate, AD109, designed to improve oxygenation in individuals living with OSA. We believe that AD109 could become the catalyst for a new oral treatment paradigm for OSA that has been historically limited to cumbersome devices or invasive surgeries. AD109 has completed two Phase 3 clinical trials for the treatment of mild, moderate and severe OSA. Apnimed's New Drug Application for AD109 was assigned a Prescription Drug User Fee Act (PDUFA) goal date of February 28, 2027.