Aethlon Medical Inc. reported fiscal third‑quarter 2026 results that included zero revenue, a net loss of $2.02 million, and a non‑GAAP earnings per share of $(2.45). Operating expenses for the quarter were $2.06 million, up 13.6% from the same period a year earlier, driven largely by higher payroll and related costs.
The company’s revenue of $0.0 million reflects its status as a pre‑revenue, clinical‑stage business that has not yet generated product sales. The focus remains on advancing the Hemopurifier device through clinical trials rather than generating sales revenue.
Operating expenses rose to $2.06 million, but the company achieved a 26.9% year‑over‑year reduction in nine‑month operating expenses, bringing the period total to approximately $5.36 million from $7.34 million a year earlier. This disciplined cost management is a key factor in extending the company’s cash runway.
Aethlon highlighted progress in its Hemopurifier clinical program. Enrollment and treatment of participants in Cohort 2 of the Australian oncology trial are actively underway, and safety data will be presented to an independent Data Safety Monitoring Board in late March. "We remain committed to advancing our clinical programs and research initiatives with operational discipline," said CEO and CFO James Frakes.
The company’s cash balance was approximately $7 million as of December 31, 2025. Management cautioned that this amount may not be sufficient to fund operations for the next 12 months without additional financing. "As of December 31, 2025, we had a cash balance of approximately $7 million," Frakes added.
After the release, the market reacted with a modest after‑hours decline of about 1.01%, reflecting investor concerns about the limited cash runway and the company’s ongoing need for capital to support its clinical program and operations.
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