Apimeds Pharmaceuticals US, Inc.

AI-generated fair value estimate for this company.

Method: Sum-of-parts NAV (post 1-for-10 reverse split, 1.509M shares outstanding): legacy clinical pharma segment valued near $0; digital-asset treasury segment built from about 1,005 BTC (about $58.7M) plus other digital assets and tokens (about $58M stated, haircut 85% to about $8.7M) plus cash ($0.28M) plus restricted cash ($8M, haircut 50% to $4M) minus total liabilities ($21.2M), for a NAV of about $50.5M, then a further roughly 40% going-concern and execution discount to about $30M risk-adjusted NAV.

Reasoning: APUS pivoted in December 2025 via a merger into a digital-asset treasury holding company built around Bitcoin and other tokens, so a NAV/balance-sheet approach grounded in disclosed filings is more appropriate than a DCF or revenue multiple; heavy haircuts are applied because reported book equity is roughly 30 times the current market cap, signaling the market doubts the realizability of the non-BTC asset marks and/or expects heavy future dilution.