Aethlon Medical(US:AEMD)2019-11-01 21:16Financial Performance - The company reported an operating loss of $1,702,202 for the three months ended September 30, 2019, compared to an operating loss of $1,346,954 for the same period in 2018[8]. - Net loss attributable to Aethlon Medical, Inc. for the six months ended September 30, 2019, was $3,771,461, compared to a net loss of $2,539,572 for the same period in 2018[8]. - Basic and diluted loss per common share for the three months ended September 30, 2019, was $(1.29), compared to $(1.17) for the same period in 2018[8]. - Total operating losses for the six months ended September 30, 2019, were $(3,268,391), compared to $(2,444,226) for the same period in 2018, an increase of 33.7%[76]. - Net losses for Aethlon for the six months ended September 30, 2019, were $(3,761,662), compared to $(2,480,117) for the same period in 2018, reflecting a 51.7% increase[76]. Revenue and Contracts - The company had no government contract revenue for the three months ended September 30, 2019, compared to $149,625 for the same period in 2018[8]. - Total revenues for the six months ended September 30, 2019, were $30,000, compared to $149,625 for the same period in 2018, representing a decrease of 80%[76]. - Aethlon generated revenue of $30,000 from government contracts for the six months ended September 30, 2019, compared to $149,625 for the same period in 2018[76]. - The company recognized $30,000 in government contract revenue under the Breast Cancer Grant during the six months ended September 30, 2019[72]. Assets and Liabilities - Total current liabilities as of September 30, 2019, amounted to $1,168,518, a decrease from $1,823,886 as of March 31, 2019[6]. - Total liabilities as of September 30, 2019, were $1,261,118, a decrease from $1,823,886 as of March 31, 2019[6]. - Total stockholders' equity as of September 30, 2019, was $20,672, a significant decrease from $2,299,078 as of March 31, 2019[7]. - The company had cash at the end of the period amounting to $785,658, down from $5,078,605 at the end of the same period in 2018[10]. - Total assets as of September 30, 2019, were $1,281,790, down from $5,272,423 as of March 31, 2019, indicating a decline of 75.7%[76]. Research and Development - Research and development expenses for the three months ended September 30, 2019, were $222,857, compared to $178,800 for the same period in 2018, representing a 24.6% increase[32]. - For the six months ended September 30, 2019, research and development expenses totaled $470,882, up from $402,566 in the prior year, indicating a 16.9% increase[32]. - The company is preparing to initiate clinical trials for the Hemopurifier in patients with advanced and metastatic cancers, focusing on solid tumors[12]. - The company is also advancing exosomal biomarkers through its subsidiary, Exosome Sciences, Inc., to diagnose chronic traumatic encephalopathy and various cancers[15]. Financing and Capital Structure - The company anticipates needing significant additional financing to continue operations and complete future clinical trials in the U.S.[26]. - The company raised aggregate net proceeds of $423,234 in the six months ended September 30, 2019, through the sale of 62,427 shares at an average price of $6.78 per share[43]. - The company has established an at-the-market equity program with H.C. Wainwright, allowing for the sale of shares with an aggregate offering price of up to $12.5 million[39]. - The company paid off its Convertible Notes Payable in July 2019, settling a principal balance of $892,591 and accrued interest of $11,352[37]. Clinical Developments - Aethlon Medical's Hemopurifier has received FDA designation as a "Breakthrough Device" for treating advanced cancer and life-threatening viral infections[11]. - On October 4, 2019, the FDA approved the Investigational Device Exemption application for an Early Feasibility Study of the Hemopurifier in patients with head and neck cancer[13]. - The FDA approved the Investigational Device Exemption (IDE) for the Hemopurifier in oncology indications on October 4, 2019[88]. - The Hemopurifier has shown potential in treating various life-threatening viruses, including HIV, hepatitis-C, and Ebola, with in vitro studies demonstrating its effectiveness against multiple viruses[14]. Stock and Compensation - The company issued 12,280 restricted stock units (RSUs) to its non-employee directors in April 2019, valued at $35,000 each based on a stock price of $14.25 per share[45]. - The company recorded stock-based compensation expenses of $653,072 for the six months ended September 30, 2019, impacting basic and diluted loss per share by $(0.50)[56]. - The company has approximately $1,520,729 of unrecognized compensation cost related to share-based payments expected to be recognized over 1.2 years[61]. - Unpaid fees accrued to non-employee directors amounted to $69,750 for the three months ended September 30, 2019, and $139,500 for the six months ended September 30, 2019[53].