0001683168-26-000964
SEC filingAethlon Medical, Inc. (AEMD) reported a net loss of $2.0 million for the third quarter of fiscal year 2026, ending December 31, 2025. This represents an improvement in operational efficiency compared to the year-to-date net loss of $5.3 million. The company recorded zero revenue for the period, consistent with its clinical-stage status. Total operating expenses were controlled at $2.1 million, driven by payroll expenses of $987K and general administrative costs of $742K. The company strengthened its liquidity position significantly through financing activities, raising $7.7M from equity issuances and warrant exercises. This resulted in a net increase of $1.5M in cash and equivalents, bringing the total cash position to $7.0M. The balance sheet reflects total assets of $8.1M against total liabilities of $1.3M, resulting in stockholders' equity of $6.7M. The company continues to fund operations through capital raises while advancing its medical technology development.
Aethlon Medical reported a net loss of $2.0 million for the quarter ending December 31, 2025, compared to a year-to-date net loss of $5.3 million, indicating improved cost management in the recent period. Operating expenses totaled $2.1 million, resulting in an operating loss of $2.1 million. Interest income contributed $44K, slightly offsetting the operational deficit. The company reported zero revenue, characteristic of a clinical-stage medical device entity. The basic and diluted loss per share stood at -$2, based on a weighted average of 823K shares outstanding. The financial results reflect a focused reduction in cash burn compared to prior periods.
The company did not record any revenue for the fiscal third quarter or the year-to-date period. As a clinical-stage company focused on developing the Hemopurifier® for infectious disease and cancer applications, Aethlon Medical has not yet commercialized its products. Consequently, operations are funded entirely through equity financing. No segment or geographic revenue breakdowns are applicable for this period.
With zero revenue, gross margin and gross profit metrics are not applicable. The operating margin reflects the cost structure of a development-stage enterprise. Total operating expenses of $2.1 million were comprised of professional fees ($333K), payroll and related expenses ($987K), and general administrative costs ($742K). The operating loss of $2.1 million aligns closely with the net loss, indicating minimal non-operational adjustments aside from interest income. Cost control is evident in the quarterly figures relative to the accumulated deficit.
The balance sheet shows total assets of $8.1 million, including $7.0 million in cash and cash equivalents. Total current liabilities were $1.3 million, yielding a healthy current ratio. Cash flow from operating activities used $6.0 million year-to-date. Financing activities provided a critical $6.7 million, primarily from $7.7 million in proceeds from common stock and warrant exercises, offset by $1.0 million in deferred offering costs. This capital injection improved the cash position by $1.5 million net. Stockholders' equity totaled $6.7 million.
The company's ability to continue operations relies on successful capital raising, as evidenced by the recent equity issuances. The filing highlights ongoing efforts to manage operating costs while advancing clinical and regulatory objectives. With an accumulated deficit of $173.2 million, the company remains in a pre-revenue stage. Future prospects depend on clinical trial outcomes, regulatory approvals, and continued access to capital markets. No specific quantitative guidance was provided in the filing.