Medical Technology Breaking News: SeeThruEquity Issues Quarterly Update Note on Aethlon Medical, Inc. (OTCBB: AEMD)
New York, NY - February 13, 2015 (Investorideas.com newswire) SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued a quarterly update note on Aethlon Medical, Inc. ((OTCBB:AEMD)). Aethlon Medical, Inc. ("Aethlon") is a medical device company focused on creating innovative devices that address unmet medical needs in cancer, infectious disease and other life-threatening conditions. On February 10, 2015, Aethlon reported results for F3Q15 (ended December 31, 2014). Highlights of the quarter include:
- Aethlon reported total revenues of $33,434 in F3Q15, down 56.2% from $76,313 in F3Q14. This decrease was the result on reduced activity during the period under the Department of Defense ("DoD") subcontract with Battelle.
- Aethlon reported a net loss of ($1.6mn), or ($0.01) per share for F3Q15, compared to a loss of ($2.2mn), or ($0.01) per share in F3Q14.
- On February 5, 2015, Aethlon CEO James Joyce announced the launch of an FDA approved clinical study testing the Aethlon Hemopurifier(R) in patients with end-stage renal disease ("ESRD") patients who are infected with the Hepatitis C virus.
- On January 2, 2015, Aethlon announced that the FDA had approved the testing in Ebola patients of its Hemopurifier device.
The note is available here: AEMD Company Note. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will also be available on these platforms.
Highlights from the note are as follows:
Significant improvements on the balance sheet
The company has increased its net worth by approximately $16mn since its March 31, 2014 fiscal year end, no longer has any notes in default and had positive shareholder's equity and working capital as of December 31, 2014. Aethlon also reported a cash balance of $2.8mn as of December 31, 2014.
FDA approved clinical study underway
On February 5, 2015, Aethlon CEO James Joyce announced the launch of an FDA approved clinical study testing the Aethlon Hemopurifier(R). In a posting on The Chairman's Blog (www.thechairmansblog.com), Mr. Joyce announced that Aethlon had enrolled its first patient who has initiated a feasibility study protocol that is being conducted at the DaVita Medical Center in Houston, Texas. Under this feasibility study protocol, Aethlon plans to enroll ten ESRD patients who are infected with the Hepatitis C virus to demonstrate the safety of Hemopurifier therapy in an infectious disease model. Upon successful completion the study, the company will seek FDA clearance to conduct pivotal efficacy studies required for market clearance to treat chronic viral indications. This announcement comes on the heels of a January 2nd announcement that the FDA had approved the testing in Ebola patients of its Hemopurifier device. Patients will be treated for six to eight hours daily with the Hemopurifier device until the Ebola viral load drops below 1,000 copies/ml. The FDA's approval allows for an Ebola study to be conducted in up to 20 infected subjects in the United States.
Operating expenses reduced to match DoD spending slowdown
Aethlon reported total revenues of $33,434 in F3Q15, down 56.2% from $76,313 in F3Q14. This decrease is the result of budget restrictions within the DoD. Aethlon has responded by prudently reducing operating expenses, and the company reported total operating expenses of $1.1mn in F3Q15, down 14.4% from $1.3mn in F3Q14. Aethlon reported a net loss of ($1.6mn), or ($0.01) per share for F3Q15, compared to a loss of ($2.2mn), or ($0.01) per share in F3Q14.
Maintaining price target of $0.74
We maintain our price target of $0.74 for Aethlon. This represents 252% upside potential from the recent market price of $0.21.
Please review important disclosures on our website at www.seethruequity.com.
About Aethlon Medical, Inc.
Aethlon Medical creates medical devices that target unmet therapeutic needs in infectious disease, cancer and neurodegenerative disorders. The company's lead product is the Aethlon Hemopurifier(R), a first-in-class device that selectively targets the rapid elimination of circulating viruses and tumor-secreted exosomes that promote cancer progression. Exosome Sciences, Inc. is a majority owned subsidiary that is advancing exosome-based products to diagnose and monitor cancer, infectious disease and neurological disorders. Additional information can be found online at www.AethlonMedical.com.
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
Get free news alerts: Sign up here
Disclaimer/ Disclosure: Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: Disclosure: AEMD subscribes to the Investorideas newswire content publishing annual program (9700 per Year, paid quarterly) for news publishing.
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.