Aethlon Medical (AEMD) Registration filing summary

Company overview and business model

• Focuses on developing the Hemopurifier, a clinical-stage immunotherapeutic device for cancer, life-threatening viral infections, and organ transplantation.

• Hemopurifier uses proprietary lectin-based technology to remove harmful exosomes and viruses; designated as a Breakthrough Device by the FDA for two indications.

• Ongoing clinical trials in Australia for oncology; prior trials in India and the US for viral infections, including COVID-19, were terminated due to enrollment challenges.

• Owns or licenses patents and trademarks in the US and internationally; maintains sufficient inventory for ongoing trials.

• No current sales or marketing capability; future commercialization plans include building or contracting distribution and sales.

Financial performance and metrics

• No revenue in fiscal years ended March 31, 2026 and 2025; prior revenue from government contracts.

• Research and development expenses were approximately $1.91 million in FY 2026 and $2.21 million in FY 2025.

• Net tangible book value as of March 31, 2026 was $4.9 million ($3.11 per share); post-offering, as adjusted, would be $8.2 million ($1.31 per share).

• Approximately $5 million in cash and cash equivalents as of March 31, 2026; substantial doubt exists about ability to continue as a going concern for 12 months.

Use of proceeds and capital allocation

• Estimated net proceeds of $3.335 million from the offering, based on a $0.85 per share price, after fees and expenses.

• Proceeds intended for general corporate purposes, including R&D, clinical trials, capital expenditures, and working capital.

• May use a portion for in-licensing, acquisitions, or investments in complementary businesses or technologies.

• Management has broad discretion over allocation of proceeds.