Aethlon Medical Inc. (NASDAQ: AEMD) outlined clinical progress for its Hemopurifier device at the Emerging Growth Conference on Wednesday, highlighting early signals of efficacy and a growing safety database in an ongoing Australian oncology study.
The company’s lead program involves a three-cohort study testing the Hemopurifier, an investigational blood filtration cartridge designed to remove extracellular vesicles (EVs) and microRNAs associated with cancer progression. As of the June 30 quarter, Aethlon reported approximately $4.9 million in cash and had raised an additional $4 million in gross proceeds, providing sufficient runway for at least 12 months of operations. The balance sheet reflects a current ratio of 5.42 and a minimal debt-to-equity ratio of 0.05, with a market capitalization of roughly $1.3 million.
The Hemopurifier device, which contains about 20,000 fibers coated with a plant lectin called GNA bound to diatomaceous earth, filters blood under pressure through pores approximately 200 nanometers wide. Cellular components remain within the fibers while smaller particles, including EVs and viruses, are captured in the resin. Each treatment session lasts approximately four hours.
In the ongoing study, Cohort 1 treated three patients with one session each, Cohort 2 administered two sessions per patient, and Cohort 3—now in progress—is treating three patients with three sessions per week on Monday, Wednesday and Friday. As of the conference, seven of the nine total treatments across the final two cohorts had been completed, with treatments and an eight-week follow-up remaining for two patients. The company reported no device-related serious adverse events across approximately 150 treatments to date, including no dose-limiting toxicities.
Early efficacy observations suggest a dose-response relationship, with Cohort 2 showing more consistent and longer-lasting reductions in cancer-linked EVs and microRNAs, alongside increases in certain lymphocyte subsets and blood chemistry markers. CEO Jim Frakes noted that repeated filtration may help “reset” the tumor microenvironment by mechanically removing EVs, which are continuously emitted by tumors.
Aethlon also highlighted internal research indicating that EVs from long COVID patients bind to the device’s proprietary resin, with observed decreases in microRNAs linked to immune dysregulation and inflammation. The company is conducting this work internally at low cost while exploring academic and regulatory pathways for future clinical development, which may require additional capital or grants.
Aethlon’s shares closed at $2.78 on Wednesday, down 3.81% from the prior session’s $2.89, with the stock trading near the lower end of its 52-week range of $2.625 to $137. Year-to-date losses stand at 79.13%, and the one-year total return is -94.88%.
