Aethlon Medical Reports No Revenue for Fiscal Year, Focuses on Hemopurifier Development

Aethlon Medical Inc. reported no revenue for the fiscal year ending March 31, 2025, maintaining a trend from the previous year. The company continues to focus on the development of its Hemopurifier, a clinical-stage immunotherapeutic device aimed at treating cancer and life-threatening viral infections. Operating expenses decreased to approximately $9.34 million from $12.64 million in the prior fiscal year, primarily due to reductions in payroll, professional fees, and general administrative costs. The company’s operating loss also narrowed significantly, reflecting ongoing cost management efforts.

In terms of strategic developments, Aethlon Medical has made notable progress in its clinical trials. The Hemopurifier has received FDA designation as a "Breakthrough Device" for two indications, and the company has initiated safety and feasibility trials in Australia for cancer patients. As of June 2025, three patients have been treated in these trials, with plans to expand to India pending regulatory approval. The company is also exploring additional clinical uses for the Hemopurifier, including its potential application in treating Long COVID.

Aethlon Medical's financial position remains precarious, with a cash balance of $5.5 million as of March 31, 2025, and substantial doubt about its ability to continue operations for the next 12 months without additional financing. The company has raised capital through various means, including a warrant inducement offer and a public offering, generating approximately $7.75 million in net proceeds during the fiscal year. However, the need for further capital raises remains critical as the company anticipates increased expenses related to ongoing clinical trials and operational costs.

The company has also undergone significant organizational changes, including a reverse stock split aimed at maintaining compliance with Nasdaq listing requirements. Following this action, Aethlon regained compliance with the minimum bid price requirement. As of June 2025, the company has a total of nine full-time employees and continues to rely on consultants to manage costs. The management team is focused on navigating the challenges of product development and regulatory approval while addressing the financial uncertainties that could impact future operations.

Looking ahead, Aethlon Medical acknowledges the risks associated with its business model, including the potential for delays in clinical trials, regulatory hurdles, and the need for ongoing capital to support its operations. The company remains committed to advancing the Hemopurifier through clinical research and regulatory pathways, but the path to commercialization is fraught with challenges that could affect its financial stability and market position.