Aethlon Medical Announces Financial Results for the Fiscal Second Quarter Ended September 30, 2024 and Provides Corporate Update

Core Insights - Aethlon Medical has achieved a significant milestone by enrolling the first two patients in a safety, feasibility, and dose-finding study of its Hemopurifier® for patients with solid tumors unresponsive to anti-PD-1 antibodies [1][5] - The company is advancing its oncology trial efforts in Australia and has implemented cost-cutting measures to streamline operations [2][4] Clinical Trials - The first two patients have been enrolled at the Royal Adelaide Hospital in Australia, and Pindara Private Hospital is now open for patient enrollment after receiving ethics committee approval [2] - Aethlon has also received ethics committee approval for a similar trial at Medanta Medicity Hospital in India, which will involve 9 to 18 patients [3] Management Changes - James Frakes has been appointed as the permanent Chief Executive Officer after serving as Interim CEO since November 2023 [4] Financial Performance - As of September 30, 2024, Aethlon Medical reported a cash balance of approximately $6.9 million [8] - Consolidated operating expenses for the fiscal quarter ended September 30, 2024, were approximately $2.9 million, a decrease of about 9% from $3.2 million in the same quarter of 2023 [9] - The company's net loss decreased to approximately $2.8 million in the fiscal quarter ended September 30, 2024, compared to approximately $3.0 million in the same quarter of 2023 [13] Operational Efficiency - Strategic cost-cutting initiatives have optimized resource allocation, allowing the company to focus on high-impact areas of the oncology trial [4][5] - The decrease in professional fees by approximately $600,000 was primarily due to a transition to a new legal firm and project completions [10] Research and Development - The Hemopurifier is designed to bind and remove extracellular vesicles (EVs) from the bloodstream, which may improve therapeutic response rates to anti-PD-1 antibodies [6] - The company is also exploring the Hemopurifier's potential in treating life-threatening viral infections, with ongoing trials for COVID-19 in India [7]