Aethlon Medical(US:AEMD)2023-11-13 16:00Financial Performance - Consolidated operating expenses for Q3 2023 were $3,175,346, a decrease of 13.4% from $3,665,309 in Q3 2022[95] - Net loss for Q3 2023 decreased to $3,036,891, compared to $3,807,430 in Q3 2022, with a basic and diluted loss per share of ($1.22) versus ($1.84) in the prior year[98] - For the six months ended September 30, 2023, operating expenses were $6,583,506, a slight increase of 0.2% from $6,573,045 in the same period of 2022[101] - The net loss for the six months ended September 30, 2023, was $6,320,064, down from $6,715,166 in the prior year, with a basic and diluted loss per share of ($2.57) compared to ($3.70)[105] Cash and Working Capital - As of September 30, 2023, the company had a cash balance of $10,175,920 and working capital of $8,776,783, down from $14,532,943 and $13,585,477 respectively at March 31, 2023[106] - Net cash used in operating activities was approximately $5,187,000 for the six months ended September 30, 2023, a decrease of $420,000 compared to $5,607,000 for the same period in 2022, primarily due to a decrease in net loss[112] - The company used approximately $237,000 in investing activities during the six months ended September 30, 2023, down from approximately $780,000 in the same period in 2022, reflecting reduced equipment purchases[115] - Net cash provided by financing activities was approximately $1,068,000 for the six months ended September 30, 2023, compared to $8,919,000 for the same period in 2022, indicating a significant decrease in capital raised[116] Clinical Trials and Product Development - The Hemopurifier is designated as a "Breakthrough Device" by the FDA for treating advanced cancer and life-threatening viral infections[80] - A clinical trial for the Hemopurifier in Australia is set to begin, focusing on patients with solid tumors, including head and neck and gastrointestinal cancers[81] - The company has received clearance from the Drug Controller General of India to conduct a Phase 1 trial of the Hemopurifier in patients with solid tumors[88] - The company is investigating the use of the Hemopurifier in organ transplant settings to remove harmful viruses and exosomes from recovered organs[89] - Clinical trial expenses decreased by $537,570 in the six months ended September 30, 2023, but the company expects these expenses to increase in the future as clinical trials expand[117] Future Outlook and Risks - The company is closely monitoring the impact of inflation, recent bank failures, and the war in Ukraine on its business and financial condition[91] - Future capital requirements will depend on various factors, including progress in clinical trials and regulatory approvals, with expectations of continued negative cash flows and net losses[118] Legal and Compliance - There have been no changes in internal control over financial reporting that materially affected the company's financial reporting during the last fiscal quarter[124] - The company is not currently a party to any pending or threatened legal proceedings, which could have a material adverse effect on future operations[126]