This article first appeared on GuruFocus .
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Cash and Cash Equivalents:Approximately $5 million as of March 31, 2026.
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Net Proceeds Raised:Approximately $1.85 million through the at-the-market program subsequent to fiscal year-end.
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Operating Expenses:Declined 21.9% year-over-year to approximately $7.3 million.
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Operating Loss:Decreased to approximately $7.3 million for fiscal 2026 from $9.3 million in the prior fiscal year.
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Other Income:Approximately $142,000 for the fiscal year ended March 31, 2026, primarily from interest income.
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Net Loss:$7.2 million for the fiscal year ended March 31, 2026, compared to $13.4 million for the fiscal year ended March 31, 2025.
Release Date: June 10, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Aethlon Medical Inc ( NASDAQ:AEMD ) achieved important clinical research and intellectual property milestones during the fiscal year.
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The company successfully completed enrollment and treatment of participants in Cohort 2 of its Australian oncology trial with no safety concerns.
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Aethlon Medical Inc ( NASDAQ:AEMD ) is expanding the Hemopurifier's applications into additional disease areas through preclinical research.
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The company has maintained disciplined cost control, resulting in a 21.9% reduction in operating expenses year-over-year.
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Aethlon Medical Inc ( NASDAQ:AEMD ) strengthened its balance sheet by raising approximately $1.85 million in net proceeds through its at-the-market program.
Negative Points
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The company's cash and cash equivalents as of March 31, 2026, were approximately $5 million, which may limit long-term financial flexibility.
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Despite progress, the Hemopurifier platform is still in the early stages of clinical trials, with primary endpoints focused on safety rather than efficacy.
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The compassionate use protocol for Ebola is specific and limited to 20 patients at up to 10 centers, which may restrict broader application.
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Aethlon Medical Inc ( NASDAQ:AEMD ) experienced screen failures in its oncology trial due to patients not meeting inclusion or exclusion criteria.
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The company's net loss attributable to common stockholders was $7.2 million for the fiscal year ended March 31, 2026, indicating ongoing financial challenges.
Q & A Highlights
Q: Can you clarify the compassionate use protocol for Ebola and its current status? A: The compassionate use protocol is specific to Ebola, allowing treatment of up to 20 Ebola patients at 10 centers. It is separate from past emergency treatments for other conditions and remains open for enrollment. - James Frakes, CEO and CFO
Q: Could you provide more details on the preclinical activities around rheumatoid arthritis and the timeline? A: We are testing platelet-derived extracellular vesicles (EVs) in healthy and rheumatoid arthritis plasma samples. This work is being done cost-effectively in-house. The aim is to publish peer-reviewed papers based on these findings. - Steven Larosa, Chief Medical Officer
Q: What are the next steps for the preclinical activities, and how will you proceed with the data? A: We plan to publish peer-reviewed papers and present findings at medical meetings. This includes data from rheumatoid arthritis and chronic kidney disease samples, focusing on EV removal. - Steven Larosa, Chief Medical Officer
Q: How is the interest in the Australian oncology trial, and what is the status of Cohort 3? A: There is strong engagement from the three sites, with active screening for participants. The first participant in Cohort 3 has been treated, and the interest remains high. - Steven Larosa, Chief Medical Officer
Q: What are the efficacy endpoints for the current studies, and are there any notable findings? A: The primary endpoint is safety, with secondary endpoints including EV removal and T cell effects. Initial findings show positive changes in EVs and T cells, which will be further analyzed statistically at the study's end. - Steven Larosa, Chief Medical Officer
Q: Are there any signals that the Hemopurifier may enhance therapies like KEYTRUDA or Opdivo? A: Initial data from the first cohort showed a reduction in EVs carrying PD-L1, which are linked to resistance to anti-PD-1 therapy. This is a positive signal that needs further confirmation. - Steven Larosa, Chief Medical Officer
Q: Can you summarize the overall progress and direction of the Hemopurifier platform? A: Everything is progressing as expected, with positive signals in the right direction for the treated patients. We remain focused on advancing the platform through disciplined clinical execution. - Steven Larosa, Chief Medical Officer
Q: What are the financial highlights from the fiscal year-end results? A: Operating expenses decreased by 21.9% to $7.3 million, and the net loss was reduced to $7.2 million. We have strengthened our balance sheet with $1.85 million raised post-fiscal year-end. - James Frakes, CEO and CFO
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
