Biotech/Medical Tech Stock News from Investorideas.com
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Monday, November 18, 2024
Biotech Stock HCW Biologics (NASDAQ: HCWB) Makes NASDAQ Top Gainers List on Licensing News
Friday, November 15, 2024
Biotech Stock CERo Therapeutics Holdings, Inc. (Nasdaq: CERO) Trades over 1 Billion shares on FDA News
New TSX Listed Stocks to Watch; (TSXV: $SUN.V) (TSXV: $FDI.V) (TSX: $PSD.TO) (TSXV: $CCEC.V) (TSXV: $DDD.V) (TSX: $AW.TO) (TSX: $FAR.TO) (TSXV: $CNVI.V)
New TSX Listed Stocks to Watch; (TSXV: $SUN.V) (TSXV: $FDI.V) (TSX: $PSD.TO) (TSXV: $CCEC.V) (TSXV: $DDD.V) (TSX: $AW.TO) (TSX: $FAR.TO) (TSXV: $CNVI.V)
November 15, 2024 – (Investorideas.com Newswire) Investorideas.com, a global news source and expert investing resource, announces today’s roundup of stocks to watch in the Solar, Real Estate, Energy, Tech, Biotech, Restaurant and Mining sectors.
All companies are TSX or TSX Venture listed.
New stocks added today: Stardust Solar Energy Inc. (TSXV: SUN), Findev Inc. (TSXV:FDI), Pulse Seismic (TSX:PSD), CanCambria Energy Corp. (TSXV:CCEC), Metavista3D Inc. (TSXV:DDD), A & W Food Services of Canada Inc. (TSX:AW), Foraco International (TSX:FAR), Conavi Medical Corp. (TSXV:CNVI)
Read this in full at https://www.investorideas.com/news/2024/main/11151Stocks.asp
Investor Ideas is always researching and searching for new stocks to add to our growing list of free stock directories. The directories are not meant as recommendations but as a research tool to discover opportunities and trading ideas in a particular sector.
New Stocks Added to the Cleantech Directories:
Stardust Solar Energy Inc. (TSXV: SUN) (FSE: 6330) is a leading North American franchisor of renewable energy installation businesses. Franchisees sell and install; PV, energy storage systems and EV chargers. Stardust Solar lends its brand and business management services to entrepreneurs looking to enter the renewable energy industry. Franchisees are supported with suite of services including: system design and engineering; marketing and lead generation; sales support; proposal generation; customer service; financing; and project management. The Company also offers industry leading certified training programs for the design, installation and sale of renewable energy systems. Their courses are approved by CSA and NABCEP.
New Stocks Added to the Real Estate Directories:
Findev Inc. (TSXV:FDI) is a publicly traded real estate finance company focused on financing real estate developers with shorter-term loans for one to five years during the development or redevelopment process. Loans are secured by investment properties and real estate developments throughout the Greater Toronto Area. Findev's unique market advantages include its expertise in real estate development and access to its real estate development partners. As a result, Findev is uniquely suited to assist developers engaged in challenging projects
New Stocks Added to the Energy Directories & Natural Gas:
Pulse Seismic (TSX:PSD) is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the largest licensable seismic data library in Canada, currently consisting of approximately 65,310 square kilometres of 3D seismic and 829,207 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin, where most of Canada’s oil and natural gas exploration and development occur.
CanCambria Energy Corp. (TSXV:CCEC) Founded by a team of industry professionals with decades of international experience, CanCambria Energy Corp was incorporated in British Columbia as a oil and natural gas exploration and production company in 2017.
New Stocks Added to the Tech Directories:
Metavista3D Inc. (TSXV:DDD) Metavista3D users experience a 3D spatial experience on a regular display without headaches and eyestrain caused by Head Mounted Displays (HMDs).
Powered by state-of-the-art holographic technology, the Metavista 3D display projects lifelike, high-definition 3D images that float in mid-air, creating a mesmerizing visual experience. Our patented technology ensures the perfect blend of depth, clarity, and color accuracy, allowing you to explore the Metaverse in ways you never thought possible.
The adaptive multi-view system ensures that every individual enjoys an optimal 3D experience, whether you're watching solo or with a group of friends. With an ultra-wide viewing angle, the Metavista 3D display delivers consistent, high-quality imagery, even as you change positions or move around the room. Designed for the Metaverse, the Metavista 3D display offers seamless integration with all major platforms, providing you with unparalleled access to an ever-growing library of content. From breathtaking virtual landscapes to pulse-pounding gaming, from captivating social events to immersive educational experiences, the Metavista 3D display brings the digital universe to life before your very eyes. The Metavista 3D display is not just a cutting-edge display; it's a gateway to a new world, a boundless universe waiting to be explored. Say goodbye to the constraints of traditional screens and cumbersome VR headsets. Embrace the future of immersive entertainment with the Metavista 3D display, and embark on an unforgettable journey into the heart of the Metaverse.
New Stocks Added to the Restaurant Directories:
A & W Food Services of Canada Inc. (TSX:AW) is a leading QSR and the second largest burger chain in Canada with a 68-year history of service excellence, menu innovation and value creation. Operating coast-to-coast and serving over 197 million guests annually, A&W restaurants feature famous trade-marked menu items such as The Burger Family®, Chubby Chicken® and A&W Root Beer®.
New Stocks Added to the Mining Directories:
Foraco International (TSX:FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with a presence in 21 countries across five continents.
New Stocks Added to the Biotech Directories:
Conavi Medical Corp. (TSXV:CNVI) is focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures. Its patented Novasight Hybrid™ System is the first system to combine both intravascular ultrasound (IVUS) and optical coherence tomography (OCT) to enable simultaneous and co-registered imaging of coronary arteries. The Novasight Hybrid System has 510(k) clearance from the U.S. Food and Drug Administration; and regulatory approval for clinical use from Health Canada, China’s National Medical Products Administration, and Japan’s Ministry of Health, Labor and Welfare.
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Thursday, November 14, 2024
Biotech and Medical Tech Stocks and the Hunt for Cancer Treatments
Biotech and Medical
Tech Stocks and the Hunt for Cancer Treatments
November
14, 2024 - Investorideas.com, a
go-to investing platform covering biotech and medical technology stocks releases
a news snapshot from stocks in the sector looking at the advancement of
treatments for solid tumors as global cancer incidence rates rise.
Recent
news from Aethlon Medical,
Inc. (Nasdaq:AEMD), Tango
Therapeutics, Inc. (NASDAQ: TNGX),
Adaptimmune Therapeutics plc (NASDAQ: ADAP) and
Fate Therapeutics, Inc. (NASDAQ: FATE)
showcases new potential treatment options as clinical trials advance.
Looking
at the harsh reality of the rise of cancer globally, the BBC reported earlier
this year, “One study found that the global incidence of early-onset cancer had increased by 79% between 1990 and 2019, with the number of
cancer-related deaths in younger people rising by 29%. Another report in The Lancet Public Health described
how cancer incidence rates in the US have steadily risen between the
generations across 17 different cancers, particularly in Generation Xers and
Millennials.”
According
to a recent article in Biospace,”The
solid tumors market size reached a value of US$ 170.3 Billion in 2023. Looking
forward, the market is expected to reach US$ 375.4 Billion by 2034, exhibiting
a growth rate (CAGR) of 7.45% during 2024-2034.”
Yesterday,
Aethlon Medical,
Inc. (Nasdaq:AEMD),
a
medical therapeutic company focused on developing products to treat cancer and
life-threatening infectious diseases.
reported financial results for its fiscal
second quarter ended September 30, 2024
Aethlon
also provided an update on recent developments, including the enrollment of a
second patient in its Australian
safety, feasibility and dose-finding clinical trial of the Hemopurifier®.
Paid
news dissemination for Aethlon Medical
Read this news, featuring AEMD in full at https://www.investorideas.com/news/2024/biotech/11141AEMD-Cancer-Treatments.asp
This news follows up on news from Monday, November 11th that the company had achieved a key
milestone with enrollment of the first patient in its Australian safety,
feasibility and dose-finding clinical trial of the Hemopurifier® in patients
with solid tumors who have stable or progressive disease during anti-PD-1
monotherapy treatment, such as Keytruda® (pembrolizumab) or Opdivo® (nivolumab)
(AEMD-2022-06 Hemopurifier Study). The patient was enrolled on October 29,
2024, by Prof. Michael Brown and his staff at the Cancer Clinical Trials Unit,
CALHN, Royal Adelaide Hospital in Australia.
From the November
13th news:
During the second
quarter, and subsequently, the company advanced its oncology trial efforts in
Australia, while implementing cost-cutting measures to streamline operations.
Management is pleased to report positive progress on these initiatives,
specifically:
Clinical
Trials:
The first two patients have now been enrolled at the Royal Adelaide Hospital in
Adelaide, Australia. Additionally, Pindara Private Hospital, in the Gold Coast
section of Australia, received ethics committee approval, was trained on
Aethlon’s Hemopurifier®, and is now open for patient enrollment. The company
has also trained a third hospital in Australia, but has not yet received ethics
committee approval for that institution and it has not yet begun patient
enrollment.
In
September, Aethlon received ethics committee approval from Medanta Medicity
Hospital in Gurugram, India, for a similar nine to 18-patient, safety,
feasibility and dose-finding trial of the Hemopurifier. The company is
completing the necessary logistical steps before the site can open for patient
enrollment.
Management
Change:
In October, Aethlon’s board of directors appointed James Frakes to serve as the
company’s permanent Chief Executive Officer, after having served as Interim
Chief Executive Officer since November 2023.
Operational
Efficiency: Strategic cost-cutting initiatives have allowed for
optimized resource allocation, enabling continued focus on high-impact areas of
the oncology trial.
“During the second
fiscal quarter and subsequent period, we continued advancing our oncology
trials, earlier this week announcing enrollment of the first patient at Royal
Adelaide Hospital, and now updating this news to report enrollment of a second
patient. This represents a critical milestone for the safety, feasibility and
dose-finding trials of the Hemopurifier in patients with solid tumors who have
failed treatment with anti-PD-1 antibodies,” stated James Frakes, Chief
Executive Officer and Chief Financial Officer of Aethlon Medical. "We now
have two sites open for patient enrollment in Australia, have received ethics
committee approval from a site in India, and we expect to continue to enroll
subjects in our Hemopurifier cancer trial. As previously announced, we believe
these studies will help inform future oncology efficacy trials. Additionally,
we have made strategic cost-cutting measures to optimize company resources, in
order to focus on the high-impact oncology trials in both Australia and India.”
As a reminder, the
primary endpoint of the approximate nine to 18-patient, safety, feasibility and
dose-finding trials, is safety. The trials will monitor any adverse events and
clinically significant changes in lab tests of Hemopurifier treated patients
with solid tumors with stable or progressive disease at different treatment
intervals, after a two-month run in period of PD-1 antibody, Keytruda® or
Opdivo® monotherapy. Patients who do not respond to the PD-1 antibody therapy
will be eligible to enter the Hemopurifier period of the study where sequential
cohorts will receive 1, 2 or 3 Hemopurifier treatments during a one-week
period. In addition to monitoring safety, the study is designed to examine the
number of Hemopurifier treatments needed to decrease the concentration of EVs
and if these changes in EV concentrations improve the body’s own natural
ability to attack tumor cells. These exploratory central laboratory analyses
are expected to inform the design of subsequent efficacy and safety trials,
including a Premarket Approval (PMA) study required by the FDA and other
regulatory agencies.
Currently, only
approximately 30% of patients who receive pembrolizumab or nivolumab will have
lasting clinical responses to these agents. Extracellular vesicles (EVs)
produced by tumors have been implicated in the spread of cancers as well as the
resistance to anti-PD-1 therapies. The Aethlon Hemopurifier has been designed
to bind and remove these EVs from the bloodstream, which may improve
therapeutic response rates to anti-PD-1 antibodies. In preclinical studies, the
Hemopurifier has been shown to reduce the number of EVs in cancer patient
plasma samples.
The company also continues to explore
opportunities to expand the use of the Hemopurifier as a treatment for
life-threatening viral infections. In vitro, it has shown effectiveness in
capturing viruses such as Ebola, Marburg virus, Zika, Lassa, MERS-CoV,
Cytomegalovirus, Epstein-Barr, Herpes simplex, Chikungunya, Dengue, West Nile,
H1N1 swine flu, H5N1 bird flu, and the reconstructed 1918 Spanish flu virus.
The company’s COVID-19 trial in India remains open to accommodate any potential
COVID-19 admissions to the intensive care units at the two participating sites,
Medanta Medicity Hospital and Maulana Azad Medical College. So far, one patient
has been treated. The company is actively evaluating COVID-19 admissions and
potential enrollment against the ongoing costs of maintaining the trial.
Tango
Therapeutics, Inc. (NASDAQ: TNGX), a
clinical-stage biotechnology company committed to discovering and delivering
the next generation of precision cancer medicines, also recently reported its
financial results for the third quarter ended September 30,
2024, and provided business highlights.
From the news "We
have made great progress with our PRMT5 development program, including positive
data from the TNG462 phase 1/2 clinical trial that showcase the best-in-class
potential of TNG462 in multiple tumor types, including pancreatic and non-small
cell lung cancers (NSCLC). Based on these early data, we are advancing TNG462
into trials with multiple targeted and standard of care combinations, including
two RAS (ON) tri-complex inhibitors from Revolution Medicines. Given that
nearly all MTAP-deleted pancreatic cancer has a co-occurring RAS mutation, we
believe this could be a powerful approach to changing the treatment landscape
for this challenging cancer," said Barbara Weber, M.D., President and
Chief Executive Officer of Tango Therapeutics. "As part of the expanded
capabilities needed to rapidly move TNG462 development forward, Dr. Maeve
Waldron-Lynch, M.D. is joining Tango as Senior Vice President, Head of Clinical
Development. Dr. Waldron-Lynch has extensive late-stage oncology clinical
development and regulatory experience and will be invaluable as we prepare to
advance TNG462 to registration."
Yesterday,
Adaptimmune Therapeutics plc (NASDAQ: ADAP), a
company working to redefine the treatment of solid tumor cancers with cell
therapy, announced data from
the primary analysis of its pivotal Phase 2 IGNYTE-ESO trial of lete-cel in
people with synovial sarcoma or myxoid/round cell liposarcoma (MRCLS) who
received previous anthracycline-based therapy. The primary analysis data are
being presented at the Connective Tissue Oncology Society (CTOS) 2024 Annual
Meeting which takes place from November 13-16, 2024 in San Diego.
From the news: Based
on these positive data, Adaptimmune plans to initiate a rolling Biologics
License Application (BLA) submission for lete-cel for the treatment of advanced
or metastatic synovial sarcoma and MRCLS by the end of 2025. Lete-cel builds on
the potential of Adaptimmune's sarcoma franchise to change the way solid tumors
are treated using cell therapies, more than doubling the addressable patient
population eligible for Adaptimmune cell therapies to also include NY-ESO-1
positive synovial sarcoma and MRCLS solid tumors.
On November 9th,
Fate
Therapeutics, Inc. (NASDAQ: FATE), a
clinical-stage biopharmaceutical company dedicated to bringing a first-in-class
pipeline of induced pluripotent stem cell (iPSC)-derived cellular
immunotherapies to patients with cancer and autoimmune disorders, presented
initial clinical and new preclinical data for FT825 / ONO-8250, a
multiplexed-engineered, chimeric antigen receptor (CAR) T-cell product
candidate targeting human epidermal growth factor receptor 2 (HER2), at the
2024 Society of Immunotherapy of Cancer (SITC) 39th Annual Meeting being held
in Houston, TX on November 6-10, 2024. FT825 / ONO-8250 incorporates a novel
H2CasMab-2 binding domain targeting HER2 that is designed to overcome
on-target, off-tumor toxicity and to recognize variants associated with poor
clinical outcomes and tumor escape. In an ongoing Phase 1 study in advanced
solid tumors, three patients were treated with FT825 / ONO-8250 in the first
low-dose cohort as monotherapy, and no dose-limiting toxicities (DLTs) and no
events of any grade of cytokine release syndrome (CRS), immune effector
cell-associated neurotoxicity syndrome (ICANS), or graft-versus-host disease
(GvHD) were observed. The multi-center, Phase 1 study is currently being
conducted under a strategic collaboration with Ono Pharmaceutical Co., Ltd.
(Ono).
From the news: “FT825
/ ONO-8250 integrates seven novel synthetic controls of CAR T-cell function
designed to overcome multiple mechanisms that impede the safe and effective
treatment of solid tumors. We are very pleased with initial Phase 1 clinical
observations from the first low-dose cohort, which showed a favorable safety
profile, product expansion, and maintenance of an activated CAR T-cell state,”
said Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics.
“In addition, new preclinical data for FT825 / ONO-8250 presented today at SITC
highlighted the cancer-selective recognition profile of its novel HER2 antigen
binding domain, including its potential to target variants uniquely expressed
on tumor cells. Under our collaboration with Ono, we are excited to further
assess the potential of FT825 / ONO-8250 to benefit patients with hard-to-treat
advanced solid tumors who currently have limited treatment options.”
While
there are a lot of unanswered questions regarding the global rise in cancer
rates, companies like Aethlon Medical, Inc. (Nasdaq: AEMD) are
moving forward in the race for solutions with their Hemopurifier clinical
trials.
Research biotech and medical device/ tech
stocks at Investorideas.com
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investing ideas. From breaking stock news to top-rated investing podcasts, we
cover it all. Our original branded content includes podcasts such as Exploring
Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create
free investor stock directories for sectors including mining, crypto, renewable
energy, gaming, biotech, tech, sports and more. Public companies within the
sectors we cover can use our news publishing and content creation services to
help tell their story to interested investors.
Disclaimer/Disclosure: This news
article featuring AEMD is part of the paid for content
creation services on Investorideas.com. Our site does not make recommendations for purchases or
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Wednesday, November 13, 2024
Breaking Medical Technology News: Aethlon Medical (Nasdaq: $AEMD) Announces Financial Results for the Fiscal Second Quarter Ended September 30, 2024 and Provides Corporate Update
Breaking Medical Technology News: Aethlon Medical (Nasdaq: $AEMD) Announces
Financial Results for the Fiscal Second Quarter Ended September 30, 2024 and
Provides Corporate Update
Achieves
Key Milestone with Enrollment of First Two Patients in the Safety, Feasibility,
and Dose Finding Study of Aethlon's Hemopurifier® in Patients with Solid Tumors
Not Responding to Anti-PD-1 Antibodies
Two
Australian Sites Open For Patient Enrollment in Hemopurifier® Cancer Trial
Conference
Call to be Held Today at 4:30 p.m. ET
SAN DIEGO, CA - November 13, 2024 (Investorideas.com Newswire) Aethlon
Medical, Inc. (Nasdaq: AEMD), a
medical therapeutic company focused on developing products to treat cancer and
life-threatening infectious diseases, today reported financial results for its
fiscal second quarter ended September 30, 2024 and provided an update on recent
developments.
Company Updates
During
the second quarter, and subsequently, the company advanced its oncology trial
efforts in Australia, while implementing cost-cutting measures to streamline
operations. Management is pleased to report positive progress on these
initiatives, specifically:
Clinical Trials:
The first two patients have now been enrolled at the Royal Adelaide Hospital in
Adelaide, Australia. Additionally, Pindara Private Hospital, in the Gold Coast
section of Australia, received ethics committee approval, was trained on
Aethlon's Hemopurifier®, and is now open for patient enrollment. The company
has also trained a third hospital in Australia, but has not yet received ethics
committee approval for that institution and it has not yet begun patient
enrollment.
In
September, Aethlon received ethics committee approval from Medanta Medicity
Hospital in Gurugram, India, for a similar nine to 18-patient, safety,
feasibility and dose-finding trial of the Hemopurifier. The company is
completing the necessary logistical steps before the site can open for patient
enrollment.
Management Change:
In October, Aethlon's board of directors appointed James Frakes to serve as the
company's permanent Chief Executive Officer, after having served as Interim
Chief Executive Officer since November 2023.
Operational Efficiency:
Strategic cost-cutting initiatives have allowed for optimized resource
allocation, enabling continued focus on high-impact areas of the oncology
trial.
Paid
News Dissemination of behalf of AEMD
Read
this news in full and see financial charts at https://www.investorideas.com/news/2024/11131AEMD-Fiscal-Second-Quarter.asp
"During
the second fiscal quarter and subsequent period, we continued advancing our
oncology trials, earlier this week announcing enrollment of the first patient
at Royal Adelaide Hospital, and now updating this news to report enrollment of
a second patient. This represents a critical milestone for the safety,
feasibility and dose-finding trials of the Hemopurifier in patients with solid
tumors who have failed treatment with anti-PD-1 antibodies," stated James
Frakes, Chief Executive Officer and Chief Financial Officer of Aethlon Medical.
"We now have two sites open for patient enrollment in Australia, have received
ethics committee approval from a site in India, and we expect to continue to
enroll subjects in our Hemopurifier cancer trial. As previously announced, we
believe these studies will help inform future oncology efficacy trials.
Additionally, we have made strategic cost-cutting measures to optimize company
resources, in order to focus on the high-impact oncology trials in both
Australia and India."
As
a reminder, the primary endpoint of the approximate nine to 18-patient, safety,
feasibility and dose-finding trials, is safety. The trials will monitor any
adverse events and clinically significant changes in lab tests of Hemopurifier
treated patients with solid tumors with stable or progressive disease at
different treatment intervals, after a two-month run in period of PD-1
antibody, Keytruda® or Opdivo® monotherapy. Patients who do not respond to the
PD-1 antibody therapy will be eligible to enter the Hemopurifier period of the
study where sequential cohorts will receive 1, 2 or 3 Hemopurifier treatments
during a one-week period. In addition to monitoring safety, the study is
designed to examine the number of Hemopurifier treatments needed to decrease
the concentration of EVs and if these changes in EV concentrations improve the
body's own natural ability to attack tumor cells. These exploratory central
laboratory analyses are expected to inform the design of subsequent efficacy
and safety trials, including a Premarket Approval (PMA) study required by the
FDA and other regulatory agencies.
Currently,
only approximately 30% of patients who receive pembrolizumab or nivolumab will
have lasting clinical responses to these agents. Extracellular vesicles (EVs)
produced by tumors have been implicated in the spread of cancers as well as the
resistance to anti-PD-1 therapies. The Aethlon Hemopurifier has been designed
to bind and remove these EVs from the bloodstream, which may improve
therapeutic response rates to anti-PD-1 antibodies. In preclinical studies, the
Hemopurifier has been shown to reduce the number of EVs in cancer patient
plasma samples.
The
company also continues to explore opportunities to expand the use of the
Hemopurifier as a treatment for life-threatening viral infections. In vitro, it
has shown effectiveness in capturing viruses such as Ebola, Marburg virus,
Zika, Lassa, MERS-CoV, Cytomegalovirus, Epstein-Barr, Herpes simplex,
Chikungunya, Dengue, West Nile, H1N1 swine flu, H5N1 bird flu, and the
reconstructed 1918 Spanish flu virus. The company's COVID-19 trial in India
remains open to accommodate any potential COVID-19 admissions to the intensive
care units at the two participating sites, Medanta Medicity Hospital and
Maulana Azad Medical College. So far, one patient has been treated. The company
is actively evaluating COVID-19 admissions and potential enrollment against the
ongoing costs of maintaining the trial.
Financial Results for the Fiscal
Second Quarter Ended September 30, 2024
As
of September 30, 2024, Aethlon Medical had a cash balance of approximately $6.9
million.
Consolidated
operating expenses for the fiscal quarter ended September 30, 2024 were
approximately $2.9 million, compared to $3.2 million for the fiscal quarter
ended September 30, 2023. This decrease of approximately $300,000, or 9%, in
the 2024 period was due to a decrease of approximately $600,000 in professional
fees, partially offset by an increase of approximately $200,000 in payroll and
related expenses and an approximately $100,000 increase in general and
administrative expenses.
The
approximate $600,000 decrease in professional fees was primarily due to a
$300,000 reduction in legal fees following a transition to a new legal firm, a
$200,000 decrease in contract labor expenses due to project completions with
contract manufacturing organizations and research and development consultants,
and an $81,000 decrease in accounting fees.
The
approximate $200,000 increase in payroll and related expenses was primarily due
to an increase of $500,000 in separation expenses related to severance
agreements following the termination of an executive and a reduction in
workforce. This increase was partially offset by a $200,000 reduction in
ongoing payroll expenses and a $100,000 decrease in stock-based compensation as
a result of the completion of vesting of existing stock options and reduced
headcount.
The
$100,000 increase in general and administrative expenses in the fiscal quarter
ended September 30, 2024 was primarily due a $200,000 increase in costs
associated with the company's ongoing oncology clinical trial. This increase
was partially offset by reductions in a number of general and administrative
expense items, including decreases in U.S. clinical trial expenses.
As
a result of the factors noted above, the company's net loss decreased to
approximately $2.8 million in the fiscal quarter ended September 30, 2024, from
approximately $3.0 million in the fiscal quarter ended September 30, 2023.
The
consolidated balance sheet for September 30, 2024, and the consolidated
statements of operations for the three- and six-month periods ended September
30, 2024 and 2023 follow at the end of this release.
Conference Call
Management
will host a conference call today, Wednesday, November 13, 2024, at 4:30 p.m.
ET to review the company's financial results and recent corporate developments.
Following management's formal remarks, there will be a question and answer
session.
Interested
parties can register for the conference call by navigating to
https://dpregister.com/sreg/10194285/fdebe88214. Please note that registered participants
will receive their dial-in number upon registration.
Interested
parties without internet access or unable to pre-register may dial in by
calling:
PARTICIPANT
DIAL IN (TOLL FREE): 1-844-836-8741
PARTICIPANT
INTERNATIONAL DIAL IN: 1-412-317-5442
All
callers should ask for the Aethlon Medical, Inc. conference call.
A
replay of the call will be available approximately one hour after the end of
the call through December 13, 2024. The replay can be accessed via Aethlon
Medical's website or by dialing 1-877-344-7529 (domestic) or 1-412-317-0088
(international) or Canada toll free at 1-855-669-9658. The replay conference ID
number is 10194285.
About Aethlon and the Hemopurifier®
Aethlon
Medical is a medical therapeutic company focused on developing the
Hemopurifier, a clinical stage immunotherapeutic device which is designed to
combat cancer and life-threatening viral infections and for use in organ
transplantation. In human studies, the Hemopurifier has demonstrated the
removal of life-threatening viruses and in pre-clinical studies, the
Hemopurifier has demonstrated the removal of harmful exosomes from biological
fluids, utilizing its proprietary lectin-based technology. This action has
potential applications in cancer, where exosomes may promote immune suppression
and metastasis, and in life-threatening infectious diseases. The Hemopurifier
is a U.S. Food and Drug Administration (FDA) designated Breakthrough Device
indicated for the treatment of individuals with advanced or metastatic cancer
who are either unresponsive to or intolerant of standard of care therapy, and
with cancer types in which exosomes have been shown to participate in the
development or severity of the disease. The Hemopurifier also holds an FDA
Breakthrough Device designation and an open Investigational Device Exemption
(IDE) application related to the treatment of life-threatening viruses that are
not addressed with approved therapies.
Additional
information can be found at www.AethlonMedical.com.
Forward-Looking Statements
This
press release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934 that involve risks and uncertainties. Statements containing words
such as "may," "believe," "anticipate,"
"expect," "intend," "plan," "project,"
"will," "projections," "estimate,"
"potentially" or similar expressions constitute forward-looking
statements. Such forward-looking statements are subject to significant risks
and uncertainties and actual results may differ materially from the results
anticipated in the forward-looking statements. These forward-looking statements
are based upon Aethlon's current expectations and involve assumptions that may
never materialize or may prove to be incorrect. Factors that may contribute to
such differences include, without limitation, the Company's ability to raise
additional capital on terms favorable to the Company, or at all; the Company's
ability to successfully complete development of the Hemopurifier; the Company's
ability to successfully demonstrate the utility and safety of the Hemopurifier
in cancer and infectious diseases and in the transplant setting; the Company's
ability to achieve and realize the anticipated benefits from potential milestones;
the Company's ability to obtain approval from the Ethics Committee of its third
location in Australia, including on the timeline expected by the Company; the
Company's ability to enroll additional patients in its oncology clinical trials
in Australia and India, including on the timeline expected by the Company; the
Company's ability to manage and successfully complete its clinical trials; the
Company's ability to successfully manufacture the Hemopurifier in sufficient
quantities for its clinical trials; unforeseen changes in regulatory
requirements; the Company's ability to maintain its Nasdaq listing; and other
potential risks. The foregoing list of risks and uncertainties is illustrative,
but is not exhaustive. Additional factors that could cause results to differ
materially from those anticipated in forward-looking statements can be found
under the caption "Risk Factors" in the Company's Annual Report on
Form 10-K for the year ended March 31, 2024, and in the Company's other filings
with the Securities and Exchange Commission, including its quarterly Reports on
Form 10-Q. All forward-looking statements contained in this press release speak
only as of the date on which they were made. Except as may be required by law,
the Company does not intend, nor does it undertake any duty, to update this
information to reflect future events or circumstances.
Company Contact:
Jim
Frakes
Chief
Executive Officer and Chief Financial Officer
Aethlon
Medical, Inc.
Investor Contact:
Susan
Noonan
S.A.
Noonan Communications, LLC
Aethlon
Medical Inc. (Nasdaq:AEMD) is a featured biotech stock on Investorideas.com
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