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Aethlon Medical Inc. (AEMD-4.66%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing a decrease in operating expenses to $1,814,747 from $3,567,088 in the same quarter the previous year. This reduction was driven by decreases in payroll, professional fees, and general administrative expenses.
Net loss for the quarter was $1,754,783, down from $3,466,121 in the previous year. Basic and diluted loss per share attributable to common stockholders was ($0.13), compared to ($1.37) for the same period last year.
The company reported cash and cash equivalents of $4,825,387 as of December 31, 2024, compared to $5,441,978 as of March 31, 2024. Working capital decreased to $3,194,737 from $4,395,889.
Aethlon completed a public offering on May 17, 2024, raising approximately $3.5 million in net proceeds after fees and expenses. Additional proceeds of $1,844,400 were raised from the exercise of warrants.
The company continues to focus on the development of the Hemopurifier, a clinical-stage device for treating cancer and viral infections. Clinical trials are underway in Australia and India.
Aethlon acknowledges the need for additional capital to sustain operations and advance product development, with plans to secure funding through equity and/or debt financing.
The filing also discusses the impact of global economic conditions and geopolitical events on the company's operations and financial outlook.
Aethlon's common stock is listed on the Nasdaq Capital Market under the symbol 'AEMD'.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Aethlon Medical Inc. quarterly 10-Q report dated February 12, 2025. To report an error, please email earnings@qz.com.