Aethlon Medical Reports Q2 Fiscal 2026 Results, Net Loss Decreases to $1.49 Million

Aethlon Medical, Inc. reported its financial results for the second quarter of fiscal year 2026, ending September 30, 2025, revealing a net loss of $1.49 million, a significant decrease from the $2.81 million loss recorded in the same period last year. The company's operating expenses for the quarter were approximately $1.51 million, down 48% from $2.90 million in the prior year, primarily due to reduced payroll and related expenses, which fell by about $778,000. The decrease in expenses was attributed to the absence of severance charges from the previous year and a reduction in headcount, leading to lower compensation costs.

In terms of revenue, Aethlon Medical did not generate any commercial revenue during the quarter. The company’s cash and cash equivalents increased to $5.85 million from $5.50 million at the end of the previous fiscal year. The company also reported a working capital of $4.85 million, up from $4.05 million as of March 31, 2025. However, Aethlon indicated that its existing cash is not expected to be sufficient to fund operations for at least the next twelve months, raising concerns about its ability to continue as a going concern without securing additional capital.

Strategically, Aethlon Medical is focused on advancing its Hemopurifier® device, which is currently undergoing clinical trials in Australia for applications in oncology and viral infections. The company has treated three participants in its Phase 1 oncology trial, with plans to enroll more patients in subsequent cohorts. Aethlon previously received approval to conduct a similar trial in India but decided to cancel it to conserve resources and focus on the Australian study. The company is also exploring new applications for the Hemopurifier through pre-clinical research, including studies on extracellular vesicles related to various diseases.

Operationally, Aethlon Medical has made significant changes, including a reverse stock split implemented on October 16, 2025, to comply with Nasdaq's minimum bid price requirement. The company issued 500,000 shares in a public offering in September 2025, raising approximately $3.74 million in net proceeds. The total number of shares outstanding increased to 761,318 as of September 30, 2025, compared to 258,531 shares at the end of the previous fiscal year. The company continues to monitor external factors such as inflation and geopolitical events that may impact its operations and capital access.

Looking ahead, Aethlon Medical is actively evaluating various strategic and financing options to extend its cash runway and support ongoing clinical development activities. The company acknowledges the uncertainty surrounding its future capital requirements and the potential impact of market conditions on its ability to raise funds. Aethlon remains committed to advancing its clinical trials and exploring new applications for its Hemopurifier technology while navigating the challenges posed by the current economic landscape.