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Apimeds Pharmaceuticals US, Inc. ( (APUS) ) just unveiled an update.
On March 20, 2026, Inscobee Inc. and Apimeds Inc. (Apimeds Korea) attempted by written stockholder consent to remove Apimeds Pharmaceuticals US, Inc.’s board and top executives, and to install their own directors and amend the bylaws. APUS asserts the move is invalid under Delaware law and a Stockholder Support and Lock-Up Agreement tied to the December 1, 2025 merger that made MindWave Innovations a wholly owned subsidiary.
The company says Inscobee improperly used 6,416,365 shares subject to an irrevocable proxy “coupled with an interest,” leaving the consent short of a legal majority and constituting a material breach of contractual obligations. APUS and MindWave plan emergency litigation in the Delaware Court of Chancery and potential Korean actions, have warned third parties and regulators, and continue to recognize the existing board and officers while rejecting any unauthorized business initiatives announced by the alleged replacement directors.
The disputed new board’s announcements of expansion into joint ventures with Assemble Corporation, Hilluck Co. Ltd., and LK Ventures Co., Ltd. were made without authorization, raising governance and transaction-validity concerns. APUS maintains that no director or officer departures have occurred and is seeking to preserve the status quo as it pursues completion of the merger-related transactions and defends existing shareholders’ interests.
More about Apimeds Pharmaceuticals US, Inc.
Apimeds Pharmaceuticals US, Inc. (APUS) is a U.S.-listed pharmaceutical company focused on developing innovative therapeutic products through its wholly owned subsidiary MindWave Innovations Inc. and MindWave’s unit Lokahi Therapeutics. The business is centered on drug development, positioning APUS in the biotech and therapeutics segment of the healthcare industry.
Average Trading Volume: 160,771
Technical Sentiment Signal: Strong Sell
Current Market Cap: $22.01M
For detailed information about APUS stock, go to TipRanks’ Stock Analysis page.