Aethlon Medical, Inc.
- Open
- 0.64
- Day high
- 0.64
- Day low
- 0.60
- Prev close
- 0.65
- Volume
- 64K
- Mkt cap
- $943977
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.2
- P/S
- —
- Yield
- —
- Per share
- —
Aethlon Medical, Inc. (AEMD) is a Healthcare company listed on NASDAQ. The stock is down 95% over the past year.
Aethlon Medical, Inc. (AEMD) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AEMD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 10, 2026 | $-2.46 | $4.08 | +265.9% | — | — |
| Feb 12, 2026 | $-2.01 | $-2.45 | -21.9% | — | — |
| Nov 12, 2025 | $-1.70 | $-3.74 | -120.0% | — | — |
| Aug 13, 2025 | $-6.80 | $-8.50 | -25.0% | — | — |
| Jun 26, 2025 | $-0.98 | $-7.28 | -642.9% | $172120 | — |
| Feb 12, 2025 | $-0.22 | $-0.13 | +40.9% | — | — |
| Aug 14, 2024 | $-0.44 | $-0.34 | +22.7% | — | — |
| Feb 14, 2024 | $-1.23 | $-1.37 | -11.4% | — | — |
| Nov 14, 2023 | $-1.35 | $-1.22 | +9.6% | — | — |
| Aug 10, 2023 | $-1.20 | $-1.30 | -8.3% | — | — |
| Feb 13, 2023 | $-0.40 | $-1.20 | -200.0% | — | — |
| Nov 14, 2022 | $-2.30 | $-1.80 | +21.7% | $574000 | +725.3% |
AEMD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | BROENNIMAN EDWARD Gdirector | Tax | 1,091 | $0.82 |
| Jul 1, 2026 | Shah Chetandirector | Tax | 2,182 | $0.82 |
| Jul 1, 2026 | Gikakis Nicolasdirector | Tax | 2,182 | $0.82 |
| Apr 21, 2026 | Gikakis Nicolasdirector | Grant | 21,815 | $2.29 |
| Apr 21, 2026 | BROENNIMAN EDWARD Gdirector | Grant | 21,815 | $2.29 |
| Apr 21, 2026 | Shah Chetandirector | Grant | 21,815 | $2.29 |
| Apr 21, 2026 | Rossetti Angeladirector | Grant | 21,815 | $2.29 |
| Apr 1, 2026 | BROENNIMAN EDWARD Gdirector | Tax | 89 | $2.19 |
| Apr 1, 2026 | Gikakis Nicolasdirector | Tax | 178 | $2.19 |
| Apr 1, 2026 | Shah Chetandirector | Tax | 178 | $2.19 |
| Jan 2, 2026 | Gikakis Nicolasdirector | Tax | 179 | $2.77 |
| Jan 2, 2026 | Shah Chetandirector | Tax | 179 | $2.77 |
| Jan 2, 2026 | BROENNIMAN EDWARD Gdirector | Tax | 89 | $2.77 |
| Oct 2, 2025 | BROENNIMAN EDWARD Gdirector | Tax | 893 | $0.75 |
| Oct 2, 2025 | Shah Chetandirector | Tax | 1,786 | $0.75 |
Source: AEMD SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full AEMD insider & 13F page →Aethlon Medical, Inc. company profile
Overview
Aethlon Medical, Inc. (NASDAQ:AEMD) is a medical technology company founded in 1999 and based in San Diego, California. The company went public in March 1999 and focuses on developing innovative blood filtration devices to treat life-threatening diseases. Aethlon operates as a clinical-stage company with its flagship product, the Hemopurifier, currently undergoing various clinical trials for cancer treatment and viral infections. The company has no commercial revenue from product sales and remains in the research and development phase, funded primarily through equity raises and government contracts.
Business
Aethlon Medical operates in the medical device industry, specifically developing extracorporeal blood filtration systems - devices that process blood outside the body before returning it to the patient, similar to dialysis machines. The company's core product is the Hemopurifier, a specialized blood filtration device designed to remove harmful substances from the circulatory system. The Hemopurifier works by filtering a patient's blood to remove two specific types of disease-causing agents: tumor-derived exosomes and life-threatening viruses. Exosomes are tiny particles released by cancer cells that help tumors spread, suppress the immune system, and resist treatment. By removing these exosomes, the Hemopurifier aims to enhance the effectiveness of cancer immunotherapies. For viral infections, the device captures and removes viruses from the bloodstream, potentially reducing viral load in critically ill patients. The company currently has two main therapeutic focus areas. The oncology program represents the primary development focus, targeting patients with solid tumors who have failed to respond to anti-PD-1 immunotherapy treatments. These are cancer patients whose immune systems need additional support to fight their tumors. The infectious disease program targets life-threatening viral infections, including COVID-19, with potential applications for other envelope viruses like Ebola, Marburg virus, and H5N1 bird flu. The company has also explored applications in organ transplantation, where the Hemopurifier could potentially remove viruses and harmful particles from donated organs before transplantation.
Revenue model
Aethlon Medical currently generates no meaningful commercial revenue, as the Hemopurifier remains in clinical trials and has not received regulatory approval for commercial sale. The company's limited historical revenue has come from government research contracts, which totaled $294,000 in fiscal 2022 and $574,000 in fiscal 2023, but dropped to zero in recent quarters. The company's business model is based on developing a medical device for eventual commercial sale to hospitals and healthcare systems. Once approved, the Hemopurifier would likely generate revenue through device sales and disposable cartridge sales for each treatment session, similar to dialysis equipment business models. Healthcare institutions would be the primary customers, purchasing devices and ongoing supplies for treating cancer and infectious disease patients. Several factors could significantly impact future margins and commercial success. Regulatory approval timelines represent the most critical factor, as FDA and international approvals are required before commercial sales can begin. Clinical trial outcomes will determine the device's efficacy profile and market positioning. Manufacturing scale will affect unit costs, as the company currently operates small-scale production but would need to scale significantly for commercial success. Reimbursement policies from insurance companies and government healthcare programs will largely determine market adoption, as hospitals typically require coverage assurance before adopting expensive new treatments. Competition from alternative cancer treatments and viral therapies could limit market share, while healthcare spending trends and hospital capital equipment budgets will influence purchasing decisions.
Competitive moat
Aethlon Medical's competitive moat appears relatively narrow and unproven at this stage of development. The company's primary potential advantage lies in its specialized filtration technology that targets tumor-derived exosomes and envelope viruses, which represents a novel approach in the blood filtration space. The company has accumulated some intellectual property around this technology and has established relationships with clinical sites for ongoing trials. However, the moat remains weak for several reasons. The company has no commercial revenue or proven market demand, making it difficult to assess whether the technology provides meaningful clinical benefits over existing treatments. The medical device industry features numerous well-funded competitors with established manufacturing, regulatory, and distribution capabilities that could potentially develop competing technologies. Regulatory barriers provide some temporary protection, as competitors would need to conduct their own lengthy clinical trials, but this protection diminishes once multiple players enter the market. The company faces significant competitive threats from multiple directions. Established medical device companies like Fresenius, Baxter, and others have vastly superior resources and could develop competing blood filtration technologies. Pharmaceutical companies continue advancing cancer immunotherapies and antiviral drugs that might achieve similar or better outcomes through different mechanisms. Academic research institutions are exploring various approaches to enhance cancer treatment and viral infection management. The company's small size and limited resources make it vulnerable to being outmaneuvered by larger players who could potentially acquire competing technologies or develop superior alternatives with greater speed and resources.
Risks & safety
The margin of safety appears extremely limited given the company's pre-revenue status and high cash burn rate. • Cash burn and solvency risk: Current cash balance of $4.8 million with quarterly operating cash outflow of approximately $2.0 million, providing roughly 6 quarters of runway at current burn rates. The company has reduced operating expenses by 50% to $1.8 million quarterly, extending runway somewhat. • Debt level: Minimal debt with debt-to-equity ratio of 0.17, indicating low leverage risk. • Valuation metrics: Current ratio of 2.77 indicates adequate short-term liquidity. Graham net-net working capital suggests the company trades below liquidation value. Price-to-book ratio of 0.003 indicates trading well below book value. • Other considerations: No revenue generation capability, entirely dependent on successful clinical trials and eventual regulatory approval. High dilution risk from future equity raises needed to fund operations. Clinical trial failures could render the investment worthless.
Recent development
Over the past few years, Aethlon Medical has made several strategic pivots and developments centered around expanding clinical applications for the Hemopurifier. The company has shifted focus toward oncology applications, moving beyond its original infectious disease focus to target cancer patients who have failed anti-PD-1 immunotherapy treatments. This represents a significant strategic pivot as the oncology market potentially offers larger commercial opportunities than infectious disease applications. The company has successfully obtained regulatory approvals for clinical trials in multiple countries, including ethics committee approvals in Australia and India for oncology trials. The Australian trial represents the primary near-term catalyst, targeting 9-18 patients with solid tumors across multiple clinical sites including Royal Adelaide Hospital and Pindara Private Hospital. The company has also maintained its COVID-19 trial in India while exploring applications for other viral threats including H5N1 bird flu, Marburg virus, and Ebola. A notable development has been the company's exploration of organ transplantation applications, investigating whether the Hemopurifier could remove viruses and harmful particles from donated organs before transplantation. This represents a potential third therapeutic area that could significantly expand the addressable market. The company has also achieved important operational milestones, including FDA approval for internal manufacturing under its virology IDE, allowing greater control over device production and supply chain management. Recent cost reduction initiatives have successfully decreased operating expenses by approximately 50%, extending the company's operational runway while maintaining clinical trial activities.
AEMD company profile · for informational purposes only — not investment advice.
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