Aethlon Medical Inc (AEMD)
NASDAQ:AEMD
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Aethlon Medical
(NASDAQ:AEMD)
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Rating:45Neutral
Price Target:
$2.00
▼(-10.31% Downside)
Action:ReiteratedDate:03/17/26
The score is primarily constrained by very weak financial performance (persistent losses and cash burn) and a still-negative longer-term technical trend (below key moving averages, negative MACD). Earnings-call updates provide some offset via encouraging early clinical safety signals and cost discipline year-to-date, but limited cash runway and dilution-related corporate actions keep overall risk elevated.
Positive Factors
Clinical safety progress
Clear safety signals in the Australian oncology trial reduce clinical and regulatory execution risk, supporting continued enrollment and DSMB progression. Durable safety data increase the probability of later-stage trials, partnership interest, and broader clinical adoption if efficacy signals follow.
Negative Factors
Weak cash generation
Persistently negative operating and free cash flows indicate the company relies on external financing to sustain development. Limited internal cash generation constrains strategic flexibility, increases dilution risk, and may force funding-driven timeline shifts that affect R&D cadence and partner negotiations over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical safety progress
Clear safety signals in the Australian oncology trial reduce clinical and regulatory execution risk, supporting continued enrollment and DSMB progression. Durable safety data increase the probability of later-stage trials, partnership interest, and broader clinical adoption if efficacy signals follow.
Read all positive factors
Aethlon Medical (AEMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.93M
Dividend YieldN/A
Average Volume (3M)688.41K
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue GrowthN/A
EPS Growth76.53%
CountryUS
Employees14
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-2.45
Shares Outstanding1,315,110
10 Day Avg. Volume703,784
30 Day Avg. Volume688,413
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.87
Price to Sales (P/S)0.00
P/FCF Ratio-0.58
Enterprise Value/Market Cap-1.65
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit8.85
Enterprise Value/Ebitda0.44
Forecast
1Y Price Target
$2.05Price Target Upside-8.07% Downside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)-2.21
Revenue Forecast (FY)N/A
Aethlon Medical Business Overview & Revenue Model
Company Description
Aethlon Medical, Inc., a medical technology company, focuses on developing products to diagnose and treat life and organ threatening diseases in the United States. The company develops Aethlon Hemopurifier, a clinical-stage immunotherapeutic devic...
How the Company Makes Money
Aethlon Medical has historically generated limited recurring commercial revenue because its core product candidates (including the Hemopurifier) are generally in development and clinical evaluation rather than broadly marketed for routine clinical...
Aethlon Medical Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jun 25, 2026
Earnings Call Sentiment Neutral
The call conveyed meaningful operational and scientific progress—most notably favorable safety signals in the Australian oncology trial, expansion of EV research with multiple preclinical publications, a potential pathway to simplify delivery (SLAMB), and a sizable 27% reduction in nine-month operating expenses. Offsetting these positives are near-term financial constraints and mixed quarterly financials: a $7.0 million cash balance that may limit runway, a quarterly operating expense increase of 13.6% and higher operating loss, reduced interest income, and program/timing uncertainties (DSMB decisions and SLAMB regulatory/technical work still preliminary). Overall, the update reflects constructive clinical and R&D momentum but with clear near-term financial and operational risks that leave the outlook balanced.Positive Updates
Australian oncology trial advancing with favorable safety signals
Cohort 1 completed (3 participants received a single Hemopurifier treatment) with no device-related serious adverse events or dose-limiting toxicities; directional improvements observed in extracellular vesicle (EV) counts and immune cell numbers. Cohort 2: two participants have completed 2 HP treatments and a third patient is enrolled and expected to be treated by end of February; independent DSMB review targeted for late March to recommend advancement to Cohort 3 or additional patients.
Negative Updates
Quarterly operating expense increase and higher operating loss
For the three months ended December 31, 2025, consolidated operating expenses were approximately $2.06 million, up $250,000 or 13.6% versus the same period last year. Operating loss for the quarter increased to $2.06 million from $1.81 million in the prior-year period.
Read all updates
Q3-2026 Updates
Positive
Negative
Australian oncology trial advancing with favorable safety signals
Cohort 1 completed (3 participants received a single Hemopurifier treatment) with no device-related serious adverse events or dose-limiting toxicities; directional improvements observed in extracellular vesicle (EV) counts and immune cell numbers. Cohort 2: two participants have completed 2 HP treatments and a third patient is enrolled and expected to be treated by end of February; independent DSMB review targeted for late March to recommend advancement to Cohort 3 or additional patients.
Read all positive updates
Company Guidance
Management reiterated disciplined capital management and program timelines: as of Dec. 31, 2025 the company had approximately $7.0M in cash, Q3 consolidated operating expenses were ~$2.06M (up $250K or 13.6% YoY) with an operating loss of $2.06M versus $1.81M a year ago, other income of $44K (vs. $60K), and 9‑month operating expenses of $5.36M (down $1.98M or 27% from $7.34M). On the clinical side they are advancing a 9–18 patient Australian safety/feasibility dose‑finding trial: Cohort 1 (3 patients, single Hemopurifier treatment) completed with no device‑related SAEs/DLTs; Cohort 2 now has 2 patients treated, a third enrolled and slated for treatment by end of February, and an independent DSMB review targeted for late March (decision expected same or next business day) to either move to Cohort 3 (3 treatments/week) or require 3 additional patients in Cohort 2; Cohort 2 dosing is being given Monday and Friday (Cohort 3 would be M/W/F, informed by prior data suggesting 2–3 treatments/week may be needed). They also noted R&D work on SLAMB compatibility (preclinical/ex‑vivo) that is unlikely to affect current trial timing, a 10‑Q to be filed after the call, and their next earnings call coinciding with the Form 10‑K in June 2026.Aethlon Medical Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
54
Neutral
Cash Flow
12
Very Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 574.25K | 294.17K | 659.10K |
| Gross Profit | -547.23K | 0.00 | 0.00 | 574.25K | 294.17K | 659.10K |
| EBITDA | -11.01M | -13.04M | -12.28M | -11.66M | -10.30M | -7.85M |
| Net Income | -11.52M | -13.39M | -12.21M | -12.03M | -10.42M | -7.89M |
Balance Sheet | ||||||
| Total Assets | 8.06M | 7.36M | 8.25M | 17.51M | 19.42M | 10.67M |
| Cash, Cash Equivalents and Short-Term Investments | 6.96M | 5.50M | 5.44M | 14.53M | 17.07M | 9.86M |
| Total Debt | 417.52K | 649.75K | 940.32K | 1.21M | 729.41K | 42.54K |
| Total Liabilities | 1.34M | 2.24M | 2.48M | 2.44M | 2.43M | 1.38M |
| Stockholders Equity | 6.71M | 5.12M | 5.77M | 15.06M | 17.13M | 9.43M |
Cash Flow | ||||||
| Free Cash Flow | -1.72B | -7.65M | -10.38M | -11.45M | -10.12M | -6.82M |
| Operating Cash Flow | -1.72B | -7.65M | -10.13M | -10.51M | -9.77M | -6.76M |
| Investing Cash Flow | -1.65M | 0.00 | -250.87K | -943.11K | -349.19K | -59.88K |
| Financing Cash Flow | 3.73M | 7.73M | 1.29M | 8.91M | 17.37M | 7.13M |
Aethlon Medical Technical Analysis
Neutral
2.23
Price Trends
2.11
Positive
2.71
Negative
6.37
Negative
Market Momentum
0.02
Negative
55.03
Neutral
34.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AEMD, the sentiment is Neutral. The current price of 2.23 is above the 20-day moving average (MA) of 2.12, above the 50-day MA of 2.11, and below the 200-day MA of 6.37, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 55.03 is Neutral, neither overbought nor oversold. The STOCH value of 34.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AEMD.
Aethlon Medical Risk Analysis
Aethlon Medical disclosed 61 risk factors in its most recent earnings report. Aethlon Medical reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Aethlon Medical Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $2.93M | -0.28 | -191.39% | ― | ― | 76.53% | |
44 Neutral | $2.32M | -115.09 | -173.74% | ― | 82.96% | 82.04% | |
44 Neutral | $1.99M | -0.18 | -145.52% | ― | ― | 97.70% | |
44 Neutral | $2.96M | -0.05 | -202.20% | ― | -49.63% | 82.22% | |
| ― | $4.53M | -0.38 | -228.82% | ― | ― | 63.87% |
* Healthcare Sector Average
AEMD
Aethlon Medical
2.23
-24.97
-91.80%
VTAK
Catheter Precision
0.86
-5.03
-85.37%
BJDX
Bluejay Diagnostics
2.05
-8.27
-80.14%
TIVC
Tivic Health Systems
1.03
-3.42
-76.85%
AMIX
Autonomix Medical, Inc.
0.40
-1.24
-75.79%
Aethlon Medical Corporate Events
Business Operations and Strategy
Aethlon Medical Completes Pre-Funded Warrant Exercises, Simplifying Equity
Positive
Mar 17, 2026
Aethlon Medical, Inc., a medical technology company, reported that it has 1,569,110 shares of common stock outstanding as of the close of business on March 16, 2026, following recent exercises of certain pre-funded warrants. The company confirmed ...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and FinancingShareholder Meetings
Aethlon Medical Shareholders Approve Share Expansion and Governance
Positive
Feb 23, 2026
On February 19, 2026, Aethlon Medical held its annual meeting virtually, with a quorum of approximately 57% of its 973,213 outstanding common shares represented. Shareholders elected five directors, ratified Haskell White LLP as independent audit...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Aethlon Medical Posts Q3 Results, Highlights Hemopurifier Progress
Neutral
Feb 12, 2026
On February 12, 2026, Aethlon Medical reported results for its fiscal third quarter ended December 31, 2025, highlighting operational discipline and ongoing clinical and research progress centered on its Hemopurifier device. The company reaffirmed...
Private Placements and FinancingRegulatory Filings and Compliance
Aethlon Medical Amends Warrants to Allow Immediate Exercise
Positive
Jan 26, 2026
On January 22, 2026, Aethlon Medical, Inc. and an institutional investor amended a December 5, 2025 Securities Purchase Agreement to remove a requirement that the company obtain shareholder approval under Nasdaq Rule 5635 before pre-funded warrant...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.