Aethlon Medical(US:AEMD)2026-02-12 22:10Financial Performance - Consolidated operating expenses for the three months ended December 31, 2025, were approximately $2,062,000, an increase of $247,000 or 13.6% compared to $1,815,000 for the same period in 2024[113]. - The net loss for the three months ended December 31, 2025, increased to approximately $2,018,000 from approximately $1,755,000 in the same period of 2024, with a basic and diluted loss attributable to common stockholders of ($2.45) compared to ($10.05) in 2024[118]. - For the nine months ended December 31, 2025, consolidated operating expenses were approximately $5,364,000, a decrease of $1,973,000 or 26.9% compared to $7,337,000 for the same period in 2024[119]. - The net loss for the nine months ended December 31, 2025, improved to approximately $5,267,203 from approximately $7,133,000 in 2024, with a basic and diluted loss attributable to common stockholders of ($11.01) compared to ($48.35) in 2024[123]. Cash Flow and Working Capital - As of December 31, 2025, the company had a cash balance of $6,956,397 and working capital of $5,884,382, compared to a cash balance of $5,501,261 and working capital of $4,050,514 at March 31, 2025[124]. - The company used approximately $5,250,000 in operating activities for the nine months ended December 31, 2025, compared to approximately $5,973,000 for the same period in 2024, reflecting an improvement of approximately $723,000[127]. - During the nine months ended December 31, 2025, the company raised approximately $6,728,000 through financing activities, an increase of approximately $1,350,000 compared to $5,368,000 for the same period in the prior year[128]. Product Development and Clinical Trials - The Hemopurifier has been designated as a "Breakthrough Device" by the FDA for two independent indications, with ongoing clinical trials in Australia for patients with solid tumors[99][100]. - The company has sufficient inventory of Hemopurifiers to support ongoing trials and is awaiting FDA approval for manufacturing at its San Diego facility[108]. - The company continues to explore new applications for the Hemopurifier through pre-clinical research and collaborations, demonstrating over 98% removal of disease-relevant extracellular vesicles in studies[105]. - Clinical trial expenses for the planned oncology trial in Australia are expected to increase, including costs for manufacturing additional Hemopurifiers[129]. Future Outlook and Risks - Future capital requirements will depend on various factors, with expectations of continued negative cash flows and net losses for the foreseeable future[130]. - The company plans to access equity markets for additional capital, but there is no assurance of favorable terms[131]. - Potential worsening global economic conditions may adversely impact the ability to raise additional funds[132]. Accounting Estimates - Critical accounting estimates include long-lived assets, stock-based compensation, and clinical trial accruals, which are essential for portraying financial condition[134].