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- **Trial Momentum**: Cohort 2 nearing completion with 2 treatments; DSMB review in late March could pave way for Cohort 3.
- **Cost Efficiency**: 27% YoY reduction in 9-month expenses; $7 million cash balance supports operations.
- **Innovation Focus**: Exploring EV removal in autoimmune diseases and simplifying treatment via SLAMB system.
- **Strategic Clarity**: Prioritizing Australia trial completion over global expansion.

**【CEO Summary Section】**
- Progress in the Australian oncology trial: 2 out of 3 patients in Cohort 2 completed 2 Hemopurifier treatments, with the third patient due to finish by late February. The Data Safety Monitoring Board (DSMB) will review safety data in late March to decide on advancing to Cohort 3 or adding more patients.
- Expansion of EV research: Investigating platelet-derived EVs in diseases like lupus, rheumatoid arthritis, and cardiovascular conditions, with plans to test Hemopurifier on disease plasma.
- Cost control: Year-to-date operating expenses down 27% compared to prior year, driven by reduced payroll, G&A, and professional fees.
- Strategic focus: Maintaining clinical execution in Australia without revisiting India for trials.

**【CFO Financial Commentary】**
- Cash balance as of December 31, 2025: $7 million.
- Q3 2026 operating expenses: $2.06 million (13.6% YoY increase due to higher payroll costs).
- 9-month operating expenses: $5.36 million (27% YoY decrease due to cost management initiatives).
- Other income: $44,000 (slight decline from prior year).

**【Q&A Key Highlights】**
- **Trial Cohort Progress**: Cohort 2 patients show interest in 3 Hemopurifier treatments, with a pool of potential participants lined up post-DSMB approval.
- **SLAMB System Compatibility**: Testing Hemopurifier with Stavro's simplified blood pump system to reduce invasiveness and expand clinical flexibility, though regulatory hurdles remain.
- **Cost-Effective R&D**: Utilizing in-house staff and sample shipping to minimize external lab costs while advancing preclinical studies on Long COVID and EVs.
- **Regulatory Strategy**: Focused on completing the Australian trial before exploring other indications or geographies.

Aethlon Medical, Inc. (AEMD) Q3 2026 Earnings Call Transcript

- **Clinical Progress:** Cohort 1 showed promising EV reductions and T cell improvements; Cohort 2 targeting one patient/month with enhanced recruitment strategies.
- **Financial Strength:** 48% YoY expense reduction to $1.5 million, with $5.8 million cash balance supporting operations.
- **Innovation Focus:** Long COVID EV research nearing publication, and simplified Hemopurifier system under development.
- **Upcoming Milestones:** Cohort 2 interim data expected in Q1 2026, with Q3 2026 earnings release in February.

**【Management Opening Remarks】**
- CEO Jim Frakes welcomed participants and highlighted the release of Q2 2026 financial results, emphasizing progress in the Australian oncology trial and strategic focus on cost optimization.
- The call outlined the agenda, including clinical updates, financials, and Q&A, with a reminder of forward-looking statement disclaimers.

**【CMO Clinical Update】**
- **Australian Oncology Trial (Cohort 1):** All three participants completed single 4-hour Hemopurifier treatments without adverse events. Key findings included:
  - Reductions in large EVs (microvesicles) and PD-L1-carrying EVs in two participants.
  - Improvements in T cell subsets (CD8, CD4) and tumor-specific CD137+ T cells in two participants.
  - Decreases in 7 out of 10 microRNAs associated with cancer progression.
- **Cohort 2 Strategy:**
  - Participants will receive two treatments over one week to assess safety, EV reduction trends, and T cell responses.
  - Enrollment acceleration efforts include virtual investigator meetings, additional trial sites, and digital marketing via Trialfacts.
- **Long COVID Research:** Preclinical data shows Hemopurifier binds EVs from Long COVID patients, with plans to publish findings in a peer-reviewed journal.

**【CFO Financial Summary】**
- **Cash Position:** $5.8 million as of September 30, 2025.
- **Operating Expenses:** $1.5 million (48% YoY decline), driven by:
  - Payroll savings ($778k) from reduced headcount and bonus accruals.
  - G&A reductions ($437k) via clinical cost cuts and Australian R&D tax credits.
  - Professional fee savings ($177k) from reduced investor relations expenses.
- **Future Filings:** Q3 2026 earnings release and 10-Q filing expected in February 2026.

**【Q&A Highlights】**
- **Recruitment Challenges:** Slow Cohort 2 enrollment attributed to the novel nature of extracorporeal EV removal in oncology. Strategies include digital marketing and site expansion.
- **Data Expectations:** Cohort 2 will focus on safety and EV/T cell trends, with plans to publish Long COVID preclinical data in a preprint server.
- **Financial Efficiency:** Management emphasized maintaining a lean structure while pursuing strategic partnerships (e.g., simplified Hemopurifier system MTA).

Aethlon Medical, Inc. (AEMD) Q2 2026 Earnings Call Transcript

- **Strategic Trial Focus**: Halted India trial to concentrate on Australia, saving $500k-$1M and avoiding regulatory delays.
- **Cost Efficiency**: Operating expenses reduced 32% to $1.8M, with cash balance of $3.8M.
- **Clinical Progress**: Australian trial first cohort completed safely; preclinical data shows 98.5% EV removal, pending patient validation.
- **Preclinical Breakthrough**: Hemopurifier demonstrated potential in long COVID and EV-related diseases, opening new therapeutic avenues.

**【CEO Opening Remarks】**
- Focused on advancing the Hemopurifier in oncology through the Australian trial, with preclinical data supporting potential applications in long COVID.
- Decided to halt the India oncology trial to prioritize Australia, conserving $500k-$1M and avoiding regulatory delays.
- Reduced operating expenses by 32% to $1.8M, driven by cost-cutting measures and strategic resource allocation.

**【CMO Clinical Trial Update】**
- Australian trial: First cohort of 3 patients completed single Hemopurifier treatment without adverse events; DSMB approved progression to 2-treatment cohort.
- Preclinical data shows 98.5% removal of platelet-derived EVs, suggesting potential for broader therapeutic applications.
- Central lab analysis of EV reduction and T-cell function expected in September, informing future efficacy trials.

**【Financial Overview】**
- Cash balance of $3.8M as of June 30, 2025.
- Operating expenses down 32% YoY, with savings from reduced payroll, legal fees, and consulting.
- Clinical trial spending increased due to advancing the Australian study.

**【Q&A Highlights】**
- Trial focus: Primary endpoint is safety; preclinical EV removal rates (98.5%) are lab-based, with clinical efficacy待验证.
- Enrollment strategy: Exploring additional sites and social media campaigns to accelerate recruitment.
- Strategic funding: Anticipate future capital needs, prioritizing partnerships over dilutive financing.


Aethlon Medical, Inc. (AEMD) Q1 2026 Earnings Call Transcript

- **Clinical Milestone**: 3 patients treated in Australia with no safety issues; next DSMB review in July for Cohort 2 expansion.
- **Global Expansion**: India trial approved; Hemopurifier already deployed at Medanta Hospital.
- **Cost Efficiency**: 26% opex reduction to $9.3M; $5.5M cash balance supports ~9 months of operations.
- **Preclinical Promise**: 98.5% EV removal rate highlights potential for non-oncology applications.
- **Funding Outlook**: No revenue; reliant on equity raises and potential grants for future growth.

**【CEO Summary Section】**
- Completed first 3 patient treatments in Australia using Hemopurifier for oncology trial, with no safety issues reported. Next DSMB review expected in July to approve Cohort 2 (2 weekly treatments). Blood samples for EV and T-cell analysis expected in late summer.
- Received regulatory approval in India to initiate parallel oncology trial at Medanta Medicity Hospital, with Hemopurifier already stationed at site.
- Preclinical data shows Hemopurifier removes 98.5% of platelet-derived EVs, supporting potential applications beyond cancer in lupus, Alzheimer's, and long COVID.
- Streamlined operations reduced FY2025 operating expenses by 26% to $9.3M, with cash balance of $5.5M as of March 31, 2025.

**【CFO Financial Commentary】**
- FY2025 ended with $5.5M cash balance, down from $7.8M in FY2024 due to $9.3M in operating expenses (26% YoY reduction).
- One-time $4.6M noncash charge for warrant inducement program offset by $2.3M cash raised through warrant exercises.
- No revenue generated; company reliant on equity financing and potential grants for future funding.

**【Q&A Key Takeaways】**
- Australia trial recruitment accelerating with 3 active sites; Cohort 2 could begin in August if DSMB approves. India trial will follow same protocol as Australia.
- Long COVID research collaboration with UCSF to present at Keystone Symposium in August, but no immediate plans for commercialization.
- No additional one-time costs expected post-termination of 3 former executives; current expense run rate sustainable with existing cash for ~9 months.
- Seeking partners for oncology program but no active discussions; potential government grants under review but no guarantees.

Aethlon Medical, Inc. (AEMD) Q4 2025 Earnings Call Transcript

- **Cost Efficiency Boost**: Operating expenses halved to $1.8M, driven by headcount reduction and cost optimization.
- **Clinical Momentum**: 1 successful Hemopurifier treatment in Australia; India trial nearing approval.
- **Tax Incentive Utilization**: 43% rebate on Australian trial expenses enhances cash flow.
- **Virus Research Expansion**: Monitoring bird flu, Ebola, and Marburg for potential Hemopurifier applications.

**【CEO & CFO Opening Remarks】**
- Focused on oncology trials and cost reduction, achieving a 50% YoY decline in operating expenses to $1.8M.
- Cash balance of $4.8M as of December 31, 2024, supporting clinical trial activities in Australia and India.

**【CFO Financial Update】**
- Operating expenses decreased by $1.8M (50%) due to reduced payroll, professional fees, and G&A expenses.
- Clinical trial expenses increased by $200K, primarily for Australian trials with a 43% tax rebate eligibility.
- Net loss narrowed to $1.8M vs. $3.5M prior year, reflecting cost optimization efforts.

**【CFO & CMO Clinical Trial Progress】**
- Australian oncology trial: 3 patients enrolled, 1 completed Hemopurifier treatment with no adverse events.
- Protocol amendment streamlines enrollment by eliminating 2-month run-in period and focusing on anti-PD-1 non-responders.
- India trial awaiting CDSCO approval; Australian sites (Royal Adelaide, Pendola Private, Royal North Shore) operational.

**【Q&A Key Takeaways】**
- Enrollment pace expected to accelerate with 3 active Australian sites and protocol modifications.
- Clinical trial costs partially offset by tax rebates, maintaining financial sustainability.
- Hemopurifier potential for bird flu explored, though not yet tested in humans.
- G&A expenses may rise as trials progress, but cost control measures remain a priority.

Actual													-120	-120	-160	-128	-128	-104	-128	-208	-152	-144	-96	-80	-112	-97.6	-109.6	-69.6	-27.2	-16	-10.4	-32.2	-8.5	-3.74	-2.45
Forecast												-128	-80	-96	-132	-148	-104	-120	-112	-112	-176	-149.3333	-64	-116	-104	-112	-108	-98.4	-25.2	-15.6	-16.2667	-10.7333	-8.6093	-3.6633	-2.75
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-50.00%	-25.00%	-21.21%	+13.51%	-23.08%	+13.33%	-14.29%	-85.71%	+13.64%	+3.57%	-50.00%	+31.03%	-7.69%	+12.86%	-1.48%	+29.27%	-7.94%	-2.56%	+36.07%	-200.00%	+1.27%	-2.09%	+10.91%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	0	0	624.90K	17.10K	116.00K	132.00K	17.12K	13.05K	0	574.00K	0	574.20K	0	0	0	0	0	0	0	0	0	0	0
Forecast	--	--	--	--	--	--	--	--	--	--	--	287.50K	--	0	100.00K	373.37K	175.00K	208.50K	212.40K	720.87K	69.30K	69.55K	4.76M	0	0	0	0	0	0	0	0	0	0	0	0
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+524.90%	-95.42%	-33.71%	-36.69%	-91.94%	-98.19%	-100.00%	+725.31%	-100.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

AEMD

AEMD fundamentals

AEMD Q3 2026 Earnings

Earnings Call

You can ask Aime

AEMD

AEMD fundamentals

AEMD Q3 2026 Earnings

Earnings Call

AEMD Earnings Call Summary for Q3/20264:30 PM on Feb 12, 2026

AEMD Earnings Call Summary for Q2/20264:30 PM on Nov 12, 2025

AEMD Earnings Call Summary for Q1/20264:30 PM on Aug 13, 2025

AEMD Earnings Call Summary for Q4/20254:30 PM on Jun 26, 2025

AEMD Earnings Call Summary for Q3/20254:30 PM on Feb 12, 2025

You can ask Aime