Release Date: November 13, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Aethlon Medical Inc (AEMD, Financial) has made significant progress in its oncology trial efforts in Australia, enrolling the first two patients and opening a second hospital for patient enrollment.
- The company has successfully reduced its operating expenses by approximately $300,000, primarily through a decrease in professional fees.
- Aethlon Medical Inc (AEMD) has received Ethics Committee approval from a hospital in India for a similar oncology trial, expanding its research efforts internationally.
- The company holds a cash balance of approximately $6.9 million, providing a solid financial foundation for ongoing research and development.
- Aethlon Medical Inc (AEMD) benefits from a 43% tax credit in Australia, significantly reducing the cost of its clinical trials conducted there.
Negative Points
- The company reported a net loss of approximately $2.8 million for the fiscal quarter ended September 30, 2024.
- There was an increase of approximately $200,000 in payroll and related expenses, largely due to separation expenses following an executive termination and workforce reduction.
- General and administrative expenses increased by $100,000, mainly due to costs related to the ongoing oncology clinical trial.
- The company is still awaiting full ethics board approval from a third Australian hospital, which could delay further patient enrollment.
- The oncology trials are in early stages, with the first safety data expected only by January, and full data not anticipated until the summer of next year.
Q & A Highlights
Q: Can you provide details on the first two patients enrolled in the Australian oncology study?
A: Yes, both patients have tumor types that are included in the study's criteria. However, to maintain patient privacy, we won't disclose specific clinical details. These patients represent two of the tumor types treated with anti-PD-1 therapies. (Answered by Dr. Steven LaRosa, Chief Medical Officer)
Q: Is the company confident about receiving Ethics Committee approval for the third site in Australia?
A: Yes, we have contingent Ethics Board approval and are awaiting a radiation assessment update. We are confident the third site in Sydney will be approved soon, and the staff has already been trained. (Answered by Dr. Steven LaRosa, Chief Medical Officer)
Q: Can you explain the 43% tax benefit process in Australia?
A: Australia offers a 43% tax credit, paid in cash, for life science projects. We submit our expenses annually, and after processing, we receive a check. This significantly reduces project costs. (Answered by James Frakes, CEO and CFO)
Q: Why are there separate trials in Australia and India with the same safety endpoint?
A: We chose to keep the data sets distinct due to potential genetic and comorbid differences between populations in Australia and India. This ensures clarity and accuracy in our findings. (Answered by Dr. Steven LaRosa, Chief Medical Officer)
Q: When can we expect data from the Australian trial?
A: The trial is designed with sequential escalating cohorts. The first safety data could be available by January if the current patients show stable or progressive disease. Full cohort data, including EV and T-cell data, is expected by summer next year. (Answered by Dr. Steven LaRosa, Chief Medical Officer)
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
