Aethlon Medical Announces Fiscal Third Quarter Financial Results and Provides Corporate Update
Conference Call to be Held Today at
Company Updates
In
"In addition to an interested initial site in
"While our research and development team has started to quantify our internal data, the results, to date, are inconclusive. Therefore, while our internal team continues to finetune their work, in parallel we have engaged several third-party laboratories to independently perform assays on the samples.
"We are also maintaining a position in the use of our Hemopurifier as a treatment against life-threatening viral infections through our COVID-19 trial in
"Finally, since being named interim Chief Executive Officer three months ago, I have focused our efforts on our oncology program, as well as on reducing our expenses. As previously reported, we disclosed some interesting pre-clinical proof on concept data of the Hemopurifier in organ transplantation. As a result, we plan to submit one or more articles for publication on our pre-clinical data," concluded
Financial Results for the Third Quarter Ended
As of
Consolidated operating expenses for the three months ended
The
The
The
As a result of the changes in expenses noted above, the company's net loss increased to
The condensed consolidated balance sheet for
Conference Call
Interested parties without internet access or who are unable to pre-register, may dial in as follows:
Participant Dial In (Toll Free): 1-844-836-8741
Participant International Dial In: 1-412-317-5442
All callers should ask for the
A replay of the call will be available approximately one hour after the end of the call through
About Aethlon and the Hemopurifier®
Additional information can be found at www.AethlonMedical.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Statements containing words such as "may," "believe," "anticipate," "expect," "intend," "plan," "project," "will," "projections," "estimate," "potentially" or similar expressions constitute forward-looking statements. Such forward-looking statements are subject to significant risks and uncertainties and actual results may differ materially from the results anticipated in the forward-looking statements. These forward-looking statements are based upon Aethlon's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Factors that may contribute to such differences include, without limitation, the Company's ability to raise additional capital and to successfully complete development of the Hemopurifier; the Company's ability to successfully demonstrate the utility of the Hemopurifier in cancer and infectious diseases and in the transplant setting; the Company's ability to initiate its oncology clinical trials in
Company Contact:
Interim Chief Executive Officer and Chief Financial Officer
Jfrakes@aethlonmedical.com
Investor Contact:
susan@sanoonan.com
917-513-5303
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Condensed Consolidated Balance Sheets |
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ASSETS |
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(unaudited) |
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CURRENT ASSETS |
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Cash |
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$ 7,972,012 |
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$ 14,532,943 |
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Prepaid expenses |
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277,321 |
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557,623 |
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TOTAL CURRENT ASSETS |
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8,249,333 |
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15,090,566 |
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Property and equipment, net |
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1,113,880 |
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1,144,004 |
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Right-of-use lease asset |
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951,466 |
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1,151,909 |
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Patents, net |
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1,238 |
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1,650 |
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Restricted cash |
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87,506 |
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87,506 |
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Deposits |
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33,305 |
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33,305 |
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TOTAL ASSETS |
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$ 10,436,728 |
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$ 17,508,940 |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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CURRENT LIABILITIES |
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Accounts payable |
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$ 693,154 |
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$ 432,890 |
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Due to related parties |
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656,045 |
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214,221 |
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Lease liability, current portion |
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285,095 |
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269,386 |
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Other current liabilities |
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466,329 |
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588,592 |
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TOTAL CURRENT LIABILITIES |
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2,100,623 |
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1,505,089 |
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Lease liability, less current portion |
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724,848 |
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939,642 |
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TOTAL LIABILITIES |
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2,825,471 |
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2,444,731 |
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COMMITMENTS AND CONTINGENCIES |
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EQUITY |
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Common stock, par value of |
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authorized; 2,492,908 and 2,299,259 issued and outstanding |
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2,596 |
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2,299 |
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Additional-paid in capital |
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159,751,591 |
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157,426,606 |
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Accumulated other comprehensive loss |
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(1,619) |
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(6,141) |
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Accumulated deficit |
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(152,141,311) |
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(142,358,555) |
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TOTAL STOCKHOLDERS' EQUITY |
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7,611,257 |
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15,064,209 |
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
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$ 10,436,728 |
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$ 17,508,940 |
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Consolidated Statements of Operations |
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For the three and six month periods ended |
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Three Months |
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Three Months |
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Nine Months |
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Nine Months |
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Ended |
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Ended |
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Ended |
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Ended |
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Government contract revenue |
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$- |
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$- |
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$- |
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$- |
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OPERATING COSTS AND EXPENSES |
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Professional fees |
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668,586 |
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729,665 |
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2,778,335 |
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2,575,496 |
Payroll and related |
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1,919,305 |
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1,048,761 |
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4,233,970 |
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3,191,402 |
General and administrative |
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979,197 |
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1,071,327 |
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3,138,289 |
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3,653,832 |
Total operating expenses |
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3,567,088 |
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2,849,753 |
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10,150,594 |
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9,420,730 |
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OPERATING LOSS |
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(3,567,088) |
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(2,849,753) |
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(10,150,594) |
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(9,420,730) |
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OTHER EXPENSE (INCOME) |
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Loss on dissolution of subsidiary |
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- |
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- |
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142,121 |
Interest and Other Income |
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(100,967) |
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- |
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(367,838) |
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- |
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NET LOSS |
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OTHER COMPREHENSIVE LOSS |
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7,951 |
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- |
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4,522 |
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- |
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COMPREHENSIVE LOSS |
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Basic and diluted net loss available to |
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common stockholders per share |
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$ (1.37) |
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$ (1.24) |
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$ (3.95) |
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$ (4.84) |
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Basic and diluted weighted average number of |
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common shares outstanding |
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2,516,511 |
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2,294,649 |
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2,477,282 |
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1,974,146 |
View original content:https://www.prnewswire.com/news-releases/aethlon-medical-announces-fiscal-third-quarter-financial-results-and-provides-corporate-update-302061238.html
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