Aethlon Medical Reports No Revenue and Significant Losses for Fiscal Year Ending March 31, 2026

Aethlon Medical Inc. reported no revenue for the fiscal year ending March 31, 2026, maintaining a trend from the previous year. The company continues to incur significant operating losses, which totaled approximately $7.3 million for the fiscal year, a decrease from $9.3 million in the prior year. This reduction in losses was primarily attributed to lower payroll expenses, professional fees, and general administrative costs. As of March 31, 2026, Aethlon had cash and cash equivalents of approximately $5 million, down from $5.5 million a year earlier, raising concerns about its ability to sustain operations without additional financing.

In terms of strategic developments, Aethlon is advancing its Hemopurifier technology, which has received FDA "Breakthrough Device" designation for treating advanced cancer and life-threatening viral infections. The company has initiated a clinical trial in Australia, focusing on patients with solid tumors undergoing anti-PD-1 therapy. As of March 2026, the trial has progressed through two cohorts, with no serious adverse events reported. Aethlon also formed a wholly-owned subsidiary in Australia to facilitate regulatory approval and commercialization efforts for the Hemopurifier.

Operationally, Aethlon has been working to expand its clinical research capabilities and has sufficient inventory of Hemopurifiers to support ongoing trials. However, the company has faced challenges, including the termination of its COVID-19 studies in the U.S. and India due to low patient enrollment. The company is also awaiting FDA approval for a new supplier of a key component for the Hemopurifier, which could impact future production capabilities.

Looking ahead, Aethlon acknowledges the need for additional financing to support its operations and clinical programs. The company is actively exploring various funding options, including equity offerings, but faces uncertainty regarding market conditions and investor interest. The ongoing economic environment, characterized by inflation and capital market volatility, may further complicate its ability to secure necessary funding. Aethlon's management has expressed substantial doubt about the company's ability to continue as a going concern for at least the next twelve months, emphasizing the critical need for successful commercialization of its Hemopurifier technology to achieve profitability.