Aethlon Medical (AEMD) Q4 2024 earnings summary

Executive summary

• Advanced clinical development of Hemopurifier in oncology and infectious diseases, focusing on solid tumor patients unresponsive to anti-PD-1 therapy.

• Received full ethics approval for an oncology trial in Australia, with additional site submissions planned in Australia and India.

• FDA approved internal manufacturing facility under virology IDE in April 2024.

• Anticipates enrolling first oncology trial patient in Australia by late 2024.

Financial highlights

• Cash balance was $5.4 million as of March 31, 2024, increasing to $9.1 million by June 25, 2024.

• Operating expenses for FY 2024 were $12.6 million, up $164,000 from FY 2023, mainly due to higher payroll and separation expenses.

• Net loss increased to $12.2 million for FY 2024 from $12.0 million in FY 2023.

• Revenue for FY 2024 was $574,245, down from $3,526,926 in FY 2023.

Outlook and guidance

• First patient enrollment in the Australian oncology trial expected in the September or December quarter 2024.

• Anticipates approvals at additional sites in Australia and India by end of 2024, enabling broader patient enrollment.

• COVID-19 trial in India remains open for potential new admissions; monitoring H5N1 Avian Influenza developments.