Aethlon Medical Inc (AEMD)
NASDAQ:AEMD
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Aethlon Medical
(NASDAQ:AEMD)
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Rating:44Neutral
Price Target:
$2.00
▼(-14.53% Downside)
Action:Reiterated
Date:06/11/26
The score is driven primarily by very weak financial performance (persistent losses, limited revenue, and ongoing cash burn). Technicals also weigh on the score with price below key moving averages and negative MACD. Partially offsetting these, the latest earnings call reflected improved cost discipline and ongoing clinical progress, but funding and commercialization risks remain significant.
Positive Factors
Clinical progress — cohort advancement
Independent DSMB clearance and progression to Cohort 3 signal durable de‑risking of the Hemopurifier’s safety profile. Consistent, documented safety findings support regulatory dialogue and future trial expansion, strengthening the company’s ability to advance clinical development over months.
Negative Factors
Limited liquidity vs. operating loss
Reported cash plus recent ATM proceeds are insufficient to cover a full year of recent operating losses, creating a structural financing need. Persistent funding requirements increase dilution and dependency on external capital, constraining strategic flexibility and execution of multi‑site trials.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical progress — cohort advancement
Independent DSMB clearance and progression to Cohort 3 signal durable de‑risking of the Hemopurifier’s safety profile. Consistent, documented safety findings support regulatory dialogue and future trial expansion, strengthening the company’s ability to advance clinical development over months.
Read all positive factors
Aethlon Medical (AEMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.74M
Dividend YieldN/A
Average Volume (3M)688.41K
Price to Earnings (P/E)―
Beta (1Y)1.37
Revenue GrowthN/A
EPS Growth81.30%
CountryUS
Employees14
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-15.89
Shares Outstanding2,370,560
10 Day Avg. Volume703,784
30 Day Avg. Volume688,413
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.30
Price to Sales (P/S)0.00
P/FCF Ratio>-0.01
Enterprise Value/Market Cap-0.68
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit5.96
Enterprise Value/Ebitda0.49
Forecast
1Y Price Target
$2.00Price Target Upside-14.53% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-2.21
Revenue Forecast (FY)N/A
Aethlon Medical Business Overview & Revenue Model
Company Description
Aethlon Medical, Inc. operates as a medical technology enterprise, dedicated to innovating solutions for the diagnosis and treatment of life-threatening and organ-jeopardizing diseases within the United States. Central to its pipeline is the Aethl...
How the Company Makes Money
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Aethlon Medical Earnings Call Summary
Earnings Call Date:Jun 10, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call communicated multiple operational and clinical progress points — completion of Cohort 2 with DSMB clearance, initiation of Cohort 3 with a successful first treatment, expansion of preclinical EV research into rheumatoid arthritis and chronic kidney disease, successful compatibility testing with a simplified blood pump, disciplined cost reductions (operating expenses down 21.9%), and an improved net loss (~46% reduction). However, material challenges remain: cash at fiscal year‑end was modest (~$5.0M) despite a subsequent ~$1.85M ATM raise, the company remains unprofitable (net loss $7.2M), the current oncology study is small and not powered for efficacy, and there is no near‑term commercial revenue or explicit commercialization timeline. Overall, operational and clinical execution trends are positive but balanced by funding and development‑stage risks.Positive Updates
Completed Cohort 2 and Progressed to Cohort 3 in Australian Oncology Trial
Enrollment and treatment in Cohort 2 completed (3 participants received two 4-hour Hemopurifier treatments each). An independent DSMB identified no safety concerns and recommended advancing to Cohort 3 without protocol modifications. The first participant in Cohort 3 has been treated (three Hemopurifier sessions) with no device deficiencies and is in safety follow-up; screening is active at all three sites.
Negative Updates
Limited Cash Position Relative to Ongoing Losses
Cash and cash equivalents of ~$5.0M at fiscal year‑end (plus ~$1.85M ATM proceeds post‑year end) may be modest relative to annual operating losses (~$7.3M operating loss in FY2026), indicating constrained near‑term liquidity absent additional financing or revenue.
Read all updates
Q4-2026 Updates
Positive
Negative
Completed Cohort 2 and Progressed to Cohort 3 in Australian Oncology Trial
Enrollment and treatment in Cohort 2 completed (3 participants received two 4-hour Hemopurifier treatments each). An independent DSMB identified no safety concerns and recommended advancing to Cohort 3 without protocol modifications. The first participant in Cohort 3 has been treated (three Hemopurifier sessions) with no device deficiencies and is in safety follow-up; screening is active at all three sites.
Read all positive updates
Company Guidance
Management reiterated guidance to advance the Hemopurifier platform while maintaining disciplined cost control, noting approximately $5.0M cash and cash equivalents as of March 31, 2026 plus roughly $1.85M in net ATM proceeds since year‑end; FY2026 consolidated operating expenses fell 21.9% YoY to about $7.3M (from $9.3M in FY2025) driven by ~$1.1M lower payroll, ~$500k lower G&A and ~$400k lower professional fees, producing an operating loss of ~ $7.3M and a net loss attributable to common stockholders of ~$7.2M (vs. a $13.4M net loss in FY2025), with other income of ~$142k in FY2026 versus other expense of ~ $4M in FY2025 (which included ~$4.7M of noncash financing charges). On the clinical front they completed cohort 2 (3 participants received two 4‑hour treatments), enrolled the first patient in cohort 3 (cohort 3 planned to treat 3–6 participants with three sessions in a 9–18 patient study), reiterated the primary endpoint is safety with secondary endpoints of EV removal and T‑cell effects (prior signals included decreases in PD‑L1+ EVs and favorable T‑cell changes and a historical 2‑log viral reduction after a 6.5‑hour treatment), confirmed a compassionate‑use Ebola protocol remains open for up to 20 subjects at up to 10 U.S. centers, reported ongoing preclinical RA and CKD EV studies, and completed successful compatibility testing with Sabre Medical’s simplified blood pump; they will file the Form 10‑K after the call and expect the Q1 (June 30) 2026 earnings/10‑Q discussion in August.Aethlon Medical Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
48
Neutral
Cash Flow
14
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 574.25K | 294.17K |
| Gross Profit | 0.00 | 0.00 | 0.00 | 574.25K | 294.17K |
| EBITDA | -6.81M | -13.04M | -11.85M | -11.79M | -10.30M |
| Net Income | -7.15M | -13.39M | -12.21M | -12.03M | -10.42M |
Balance Sheet | |||||
| Total Assets | 6.33M | 7.36M | 8.25M | 17.51M | 19.42M |
| Cash, Cash Equivalents and Short-Term Investments | 5.03M | 5.50M | 5.44M | 14.53M | 17.07M |
| Total Debt | 336.72K | 649.75K | 940.32K | 1.21M | 729.41K |
| Total Liabilities | 1.45M | 2.24M | 2.48M | 2.44M | 2.43M |
| Stockholders Equity | 4.89M | 5.12M | 5.77M | 15.06M | 17.13M |
Cash Flow | |||||
| Free Cash Flow | -7.00T | -7.65M | -10.38M | -11.45M | -10.12M |
| Operating Cash Flow | -7.00T | -7.65M | -10.13M | -10.51M | -9.77M |
| Investing Cash Flow | -3.70B | 0.00 | -250.87K | -943.11K | -349.19K |
| Financing Cash Flow | 6.52T | 7.73M | 1.29M | 8.91M | 17.37M |
Aethlon Medical Technical Analysis
Negative
2.34
Price Trends
2.21
Negative
2.17
Negative
3.63
Negative
Market Momentum
-0.09
Positive
42.91
Neutral
32.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AEMD, the sentiment is Negative. The current price of 2.34 is above the 20-day moving average (MA) of 2.18, above the 50-day MA of 2.21, and below the 200-day MA of 3.63, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 42.91 is Neutral, neither overbought nor oversold. The STOCH value of 32.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AEMD.
Aethlon Medical Risk Analysis
Aethlon Medical disclosed 61 risk factors in its most recent earnings report. Aethlon Medical reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Aethlon Medical Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $2.83M | -144.85 | -173.74% | ― | 130.35% | 92.24% | |
44 Neutral | $4.74M | -0.42 | -191.39% | ― | ― | 81.30% | |
44 Neutral | $4.97M | -0.30 | -145.52% | ― | ― | 98.81% | |
| ― | $4.54M | -1.71 | -228.82% | ― | ― | 62.20% |
* Healthcare Sector Average
AEMD
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Aethlon Medical Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Aethlon Medical Reports Fiscal 2026 Results, Clinical Progress
Positive
Jun 10, 2026
Aethlon Medical, Inc. is a San Diego-based, clinical-stage medical therapeutic company developing its Hemopurifier platform to treat cancer and life-threatening viral infections lacking effective therapies. The company is expanding the device̵...
Private Placements and FinancingRegulatory Filings and Compliance
Aethlon Medical Updates At-The-Market Equity Offering Capacity
Negative
Jun 4, 2026
On December 23, 2025, Aethlon Medical filed a prospectus supplement to facilitate at-the-market sales of its common stock under an existing agreement with H.C. Wainwright Co., with its underlying shelf registration statement becoming effective on...
Business Operations and Strategy
Aethlon Medical Completes Pre-Funded Warrant Exercises, Simplifying Equity
Positive
Mar 17, 2026
Aethlon Medical, Inc., a medical technology company, reported that it has 1,569,110 shares of common stock outstanding as of the close of business on March 16, 2026, following recent exercises of certain pre-funded warrants. The company confirmed ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.