Aethlon Medical(US:AEMD)2024-02-15 02:17Financial Data and Key Metrics Changes - As of December 31, 2023, Aethlon Medical had a cash balance of approximately $8 million, with an additional $236,000 raised through common stock sales under the at-the-market program [13] - Consolidated operating expenses for the three months ended December 31, 2023, were approximately $3.6 million, an increase of 25.2% from $2.8 million for the same period in 2022 [14] - The company's net loss increased to $3.6 million for the three months ended December 31, 2023, compared to $2.8 million for the same period in 2022 [17] Business Line Data and Key Metrics Changes - The increase in operating expenses was primarily due to a rise in payroll and related expenses, which increased by approximately $871,000, largely attributed to separation expenses for the former CEO [15] - General and administrative expenses decreased by approximately $92,000, mainly due to a reduction in clinical trial expenses [16] Market Data and Key Metrics Changes - The company is conducting a COVID-19 trial in India with one patient treated to date, and the trial remains open for enrollment as new COVID-19 cases arise [8][31] - The oncology program is set to begin trials in India and Australia, with three interested sites in Australia and one in India awaiting approval from ethics committees [10][11] Company Strategy and Development Direction - Aethlon Medical received clearance from the Drug Controller General of India to conduct a Phase I trial of the Hemopurifier in patients with solid tumors [6] - The focus is on oncology and reducing expenses, with plans to publish articles on preclinical organ transplantation data [9] Management's Comments on Operating Environment and Future Outlook - Management noted that the results from the internal data on the Hemopurifier are inconclusive, prompting engagement with third-party laboratories for independent assays [8] - The company is poised for site activation for oncology trials once in vitro studies are completed, indicating readiness to advance research efforts [11] Other Important Information - The company plans to file its quarterly report on Form 10-Q following the call, with the next earnings call scheduled for June 2024 [17] Q&A Session Summary Question: Will an uptick in COVID cases ease patient enrollment in trials in India? - Management indicated that if critically ill patients are admitted to ICUs, enrollment would be possible [19][21] Question: Are there sufficient Hemopurifiers for clinical efforts? - Management confirmed that there are enough Hemopurifiers for planned oncology trials, but a massive outbreak could pose challenges [22][23] Question: Will there be any one-off costs spilling into the fourth quarter? - Management stated that all one-off costs related to the former CEO's separation have been accrued in the December quarter [24][25] Question: How will patients be involved in the oncology trial? - Plasma samples from cancer patients who have consented will be used for preclinical studies [26][27] Question: How many patients are currently enrolled in the COVID study? - One patient has been enrolled to date, with a maximum of 15 patients allowed in the study [30][31] Question: What is the status of the organ transplant progress? - Management confirmed ongoing collaboration with 34 Life and plans to publish findings from organ transplantation studies [39][40]