Summary by Moomoo AI
Aethlon Medical reported financial results for Q1 FY2025 ended June 30, 2024. Net loss decreased to $2.57M from $3.28M in Q1 FY2024, with operating expenses down 23.1% to $2.62M. Cash balance increased to $9.07M from $5.44M at March 31, 2024.The company made progress on its oncology clinical trials, receiving ethics approvals for studies in Australia. It raised $5.38M through a public offering and warrant exercises. Aethlon is advancing trials of its Hemopurifier device for cancer and viral diseases, with studies planned or underway in Australia, India, and the U.S.Management expects existing cash to fund operations for at least 12 months. The company alleviated previous going concern doubts through fundraising and reduced expenses. Aethlon continues to work on qualifying a new supplier for a key Hemopurifier component and manufacturing devices at its San Diego facility for planned U.S. trials.