Aethlon Medical, Inc. reported its financial results for the six months ended September 30, 2024, highlighting significant changes in revenue, expenses, and strategic developments compared to the previous fiscal period. The company, focused on developing the Hemopurifier, a clinical-stage immunotherapeutic device, experienced a net loss of $5.4 million for the six months, an improvement from a net loss of $6.3 million in the same period in 2023. The basic and diluted loss per share decreased to $(0.50) from $(2.57) year-over-year.

Total operating expenses for the six months ended September 30, 2024, were $5.5 million, down 16.1% from $6.6 million in the prior year. This reduction was primarily attributed to a decrease in professional fees, which fell by $924,822, and a reduction in general and administrative expenses by $449,864. However, payroll and related expenses increased by $313,035, largely due to severance-related salary expenses for two executives.

The company’s cash and cash equivalents rose to $6.9 million as of September 30, 2024, compared to $5.4 million at the end of the previous fiscal year. Aethlon's total assets increased to $8.8 million, while total liabilities rose to $2.8 million. The total stockholders’ equity also improved to $6.0 million from $5.8 million.

Aethlon Medical successfully raised approximately $4.7 million in gross proceeds from a public offering on May 17, 2024, which included the sale of 2,450,000 shares of common stock and accompanying warrants. The company also reported net cash provided by financing activities of $5.4 million for the six months ended September 30, 2024, compared to $1.1 million in the same period in 2023.

Strategically, Aethlon has launched clinical trials in Australia and India for the Hemopurifier, focusing on cancer patients undergoing anti-PD-1 therapy. The trials have received ethics committee approvals, and the company has engaged contract research organizations to oversee these studies. Additionally, Aethlon has been monitoring external factors such as inflation and geopolitical conflicts that may impact its operations and capital markets.

Management changes were also noted, with James B. Frakes appointed as permanent CEO and CFO, while Guy Cipriani was terminated as COO. The company continues to face liquidity concerns, indicating that existing cash may not be sufficient to fund operations for the next twelve months, prompting plans for further financing through debt or equity arrangements.