Aethlon Medical Reports Q2 Financials and Announces Merger Plans
News related to:Aethlon Medical, Inc · 4 min read
SAN DIEGO, Nov. 12, 2026 /CourierPR/ -- Aethlon Medical, Inc., a clinical-stage medical therapeutic company, today announced its financial results for the second quarter ended September 30, 2026, and provided a corporate update. The company reported that cash and cash equivalents were approximately $6.5 million as of September 30, 2026. Consolidated operating expenses for the quarter increased 77.2% to approximately $2.7 million, compared to approximately $1.5 million in the prior-year quarter. This increase was primarily attributable to higher professional fees associated with the proposed merger and the lack of recognition of a research and development tax credit in the current period, which resulted in higher general and administrative expenses in the current-year period compared to the prior-year period.
The company also announced that it entered into a Plan of Merger and Reorganization with North Immunology, Inc. on September 17, 2026. Upon completion of the proposed merger, the combined company is expected to operate under the name North Immunology, Inc. In connection with the proposed merger, the company has retained key personnel necessary to maintain its corporate and regulatory obligations and continue management of its Australian oncology clinical trial. The company remains operational and continues to evaluate its activities and resource requirements in light of the proposed merger and its available financial resources.
The proposed merger is expected to result in the wind-down of certain activities associated with the company's legacy business upon and subject to the closing of the transaction. The timing and extent of any further changes to the company's operations will depend on the progress and outcome of the proposed merger, the company's available resources, and other factors. There can be no assurance that the proposed merger will be completed on the anticipated terms or within the anticipated timeframe, or at all.
The company's Phase 1 oncology study advanced during the quarter, with the treatment of the second participant in the third and final dosing cohort of the study in Australia. The company has treated eight patients across the three dosing cohorts to date and continues to pursue enrollment of one additional patient. Given the anticipated timing of the proposed merger with North Immunology, Inc., the company has a limited window in which to complete enrollment. The company intends to conclude patient recruitment in connection with the proposed merger and subsequently compile the available clinical data for analysis.
The proposed merger agreement includes a contingent value right ("CVR") agreement to be entered into at closing. The CVRs are intended to provide shareholders with the opportunity to participate in future potential proceeds, if any, resulting from the monetization of the company's legacy Hemopurifier business. Any payments under the CVR will be subject to the terms and conditions of the CVR agreement. There can be no assurance that any monetization transaction will occur or that CVR holders will receive any payments.
The consolidated balance sheets for September 30, 2026, and March 31, 2026, and the consolidated statements of operations for the fiscal quarters and six-month periods ended September 30, 2026, and 2025, are included at the end of this release.
About the Hemopurifier® The Aethlon Hemopurifier is an investigational medical device designed to remove enveloped viruses and tumor-derived extracellular vesicles (EVs) from circulation. It is used extracorporeally with a blood pump and combines plasma separation, size exclusion, and affinity binding using a plant lectin resin that targets mannose-rich surfaces found on EVs and viruses. EVs released by solid tumors are believed to play a role in metastasis and the resistance to immunotherapies and chemotherapy. Removal of enveloped viruses and extracellular vesicles has been demonstrated in both in vitro studies and human subjects.
The Hemopurifier holds a U.S. Food and Drug Administration Breakthrough Device Designation for: - The treatment of individuals with advanced or metastatic cancer unresponsive to or intolerant of standard-of-care therapy; and - The treatment of life-threatening viruses not addressed with approved therapies.
Aethlon Medical, Inc. (Nasdaq: AEMD) is a clinical-stage medical therapeutic company headquartered in San Diego, California. The company is advancing the Hemopurifier®, an investigational extracorporeal immunotherapeutic platform designed to remove tumor-derived extracellular vesicles and enveloped viruses from circulation for potential applications in oncology, infectious disease, and other disease states. The company reported its financial results for the second quarter ended September 30, 2026, and provided a corporate update. The company's Phase 1 oncology study advanced during the quarter, with the treatment of the second participant in the third and final dosing cohort of the study in Australia. The company has treated eight patients across the three dosing cohorts to date and continues to pursue enrollment of one additional patient. Given the anticipated timing of the proposed merger with North Immunology, Inc., the company has a limited window in which to complete enrollment. The company intends to conclude patient recruitment in connection with the proposed merger and subsequently compile the available clinical data for analysis. The proposed merger agreement includes a contingent value right ("CVR") agreement to be entered into at closing.