Aethlon Medical (AEMD) 10 Aug 232024 Q1 Earnings call transcript

Good afternoon, and welcome to the Aethlon Medical First Quarter Fiscal 2024 Earnings and Corporate Update Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Jim Frakes, Chief Financial Officer. ahead. go Please

At and quarter First operator, name everyone. to June results Financial Welcome Jim Aethlon XXXX. Time Thank released XX, first Medical Fiscal good fiscal XXXX Medical's financial Officer. Chief Aethlon's Quarter and its My p.m. Earnings Aethlon Eastern Frakes, today, first you, for I'm afternoon, X:XX – Conference is ended Call. quarter

page Medical's have earnings received release, at not www.aethlonmedical.com. the visit you If Aethlon Investors seen please or

reading the Officer, and and an Following our Fisher, forward-looking and make Executive introduction this Aethlon's Medical recent provides Chief Aethlon's of will financials. then Steven some Dr. Jr., strategy statement, I overview of LaRosa, J. brief Charles developments. Aethlon's Officer, remarks our Chief Dr. on

the session. open the for then will Q&A We up call

information hand Act Commission. law, as Exchange the reflect the this in forward-looking call it the you future or under to please does and intend Dr. our Before call year company The meaning XXX the can may contain Securities found cause that the differ and XXXX of materially annual any over nor for March as to be update results and cautions LaRosa, Securities Securities of from news today I the ended circumstances. company's on events Act note the caption of be the anticipated as results could release amended. Form in the Form in statements within that amended, and on are conference filings report risks a materially Such is results from this of by statements. any to the is XX-K recent XX, with duty company's in historical the fact undertake assumptions forward-looking anticipated that are the statement. of XXXX, not to differ expectations These report Risk statement fiscal and the statements statements date uncertainties, does this Factors of and company that not required forward-looking those most XX-Q based Except Exchange statements Factors as significant a forward-looking on statement subject may forward-looking to the other and call. actual

With now call Aethlon's over Officer. LaRosa, Medical Chief Dr. will to Steven that, turn the I

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initiate a Australia. clinical In research the LLC Medical indication, oncology contract in to continues organization, NAMSA work Aethlon with its study to

selection the efficacy ethics of report trial trials dose-finding and future data will believes board identification oncology generated development Ongoing anti-PD-X company's tumors the that the submission, the documents treatment and Aethlon Medical antibodies. monitoring is safety, in this data necessary finalization design failing a solid a case include feasibility form for activities this from Specifically, Hemopurifier. qualification, trial help of of and of with safety site inform board.

will to Dr. Officer. Chief that, over Charles turn Executive the With J. now call Aethlon's I Fisher,

Thanks, Steve, the and from focusing setting, announced recovered are good the removal my and exosomes recently harmful the potential the that Fisher. Chuck afternoon, We is we organ everyone. transplant Hi, investigating and of use viruses of initially name kidneys. Hemopurifier on

investigate into Last in translational viruses objective month, harmful initial machine can that confirm recovered preservation donor research to proprietary of organ exosomes Lives supply a usable of collaboration agreement human signed Our for to incorporated PBC Lives, kidneys. we a XX kidneys of our organ XX perfusion studies system and goal is preservation with Hemopurifier the remove and donated the increasing when evaluation transplant. the use circuit with Hemopurifier from and the

are may of and include graft demonstrated can solutions, function transplant. Hemopurifier. previously existing version recovered potentially new of the following have complications place removal We utilizing for We additive viable in scaled-down buffer that from exosomes approach rejection. kidneys organ, the process technologies infection, of our believe in multiple of to reduce which viruses to this a transplantation This currently that be increase meaningfully and could delayed viral the number vitro,

at only always that physician that donor. up hospitals, to typically are me a organs usable X.X has are chief personal and research potential seen actually be former troubled and X a per can potentially major to There transplanted greatly. – I’ve chief organs transplanted On three note, many eight in discarded as division organs

pressure the have kidney failed government the on kidneys. cover the for organizations procurement dialysis ongoing burden it U.S. source because TMS that citizens organ is currently the reduces increase is to of this treatments TMS applying to transplants for average. payment on majority the

becomes in this XXXX, $X.X years, per year average equals the up savings recipient. of Kidney to to which $XXX,XXX billion effective U.S. Medicare Medicare’s of services $XXX each million kidney cost per of billion costs $XXX are taxpayer transplants Dialysis total With XX% lifespan from budget. lifetime in outpatient saving transplant transplant. XX an

of while six years. Americans of In XX There XXX,XXX week for in but are XX,XXX currently hours is kidney the per time U.S. the waiting patients more XXXX, dialysis or only average a those transplant, a need patients or XXXX, XXX,XXX receiving too from unused In transplanted received sick left X,XXX perhaps or transplant. have XX,XXX been were XX% transplant to died became were could kidneys while recovered that a receive approximately that waiting a used. kidney

to is usable objective organs increase number the can into of introduced Our the transplant be community. that

this to Aethlon In this this conclusion, focus excited at believe topic, be significant are could business we a opportunity. about addition on and our

With the Thank questions. call that, the Jim open to up turn and you. over then back I’ll for call discussions the financial for

Thanks, Chuck, and good afternoon again everyone.

a XXXX, million. balance of approximately had cash XX, As of June $XX.X Aethlon Medical

quarter raised the $X.X proceeds agreement first At we XXXX, June the of ended XX, Wainwright. Market During approximately The net H.C. million with under

previous keep our a level some more have our to me try my you expenses quarterly bit Now, calls that I’ll cover of in high such this a remarks not so listen to gently encouraged granular to quarter. basis,

information hit can detailed or on the financial find be filed to XX-Q. to our wire You attached statements release in expense report that soon and just our earnings

professional increases in or approximately in and and period in expenses expenses XXXX. $X.X Our payroll operating million XX, three the the June fees of $X.X approximately consolidated compared XX.X%, June approximately for was ended approximately of administrative to expenses million months $XXX,XXX, for three increase related million general of This XX, due ended XXXX $X.X to months were $XXX,XXX the $XX,XXX. XXXX of and

with and The to activities, $XXX,XXX the combination factors new raw purchase leasehold to the included factors. increase $XXX,XXX Hemopurifier, increase improvements a in related increase associated depreciation maintenance the company’s the manufacturing production primarily increase lab and a materials subsidiary’s due Australian in equipment was and facilities. for in of of and expenses for Those G&A $XXX,XXX of a a $XXX,XXX equipment

investor with in new company $XXX,XXX filings legal awareness subcontract contracts. widespread more with an subsidiary trial associated $XXX,XXX for $XX,XXX accounting due assistance our and expense were and Australian a our by offset in former The associated associated decrease with Those a general and associated with in decrease in facilitating increase legal increases $XX,XXX dissemination to fees an year-end investor relations partially increase government of and clinical matters. increase expenses expenses professional corporate with of services increase and of was of $XXX,XXX $XXX,XXX news, expenses,

$XX,XXX. and stock excuse a me, of increase increase in related stock-based was to $XX,XXX to were of XX increase expense Those increases $XX,XXX due expense in – an offset a expense payroll services salary $XX,XXX in a regulatory by in decreases employee the And and to increase recruiting $XX,XXX related option headcount in compensation grants.

$X.X million in a just of from months the factors that XXXX. increased net XX, in the XX, June As approximately million three to three the ended company's months XXXX, $X.X the ended approximately I June loss noted, result

and That issued three June the release results related commentary We for a and and operations June this XX, of for XXXX, XXXX included balance earnings months earlier XXXX. the sheet afternoon. included press these statements ended XX, the release in

Form We will report quarterly our XX-Q follow this on following call.

fiscal for in XXXX. quarter second ending Form call will XX, quarterly next Our XX-Q earnings September of with filing on coincide the November report our the XXXX

may now, Steve, open any the be Operator, And you happy and have. Chuck, that for to I questions please take call would questions.

question-and-answer first question Zacks. Please ahead. begin now We from go [Operator is session. will the Instructions] Marla with The Marin

you. Thank

bit have sense about potential it's any in is now Australia. early that? or a oncology of little doing the you the for have talked to you prepare wondering, what for just any sense, what I'm you Do you're So do trials timeline right too

for Steve LaRosa. It's the Marla. Hi, Thanks question.

we have number and interviewed of sites. a currently, working So with we're NAMSA

We all planning have And year. there, interested through we we're board the then and filing have this and four by their those are end ethics mission we're have to and to go of documents. the this in that now do engage to questions we'll

Okay, is certain something of in horizon? in Is the talked past on the India, is space. points potentially trials still the that oncology about into had expanding thank possibility at you. that the expanding And you

Yes.

that's process again, So have through they go Qualtran in LLC, for Australia. India, articulated And with CRO to Medanta we're and a I hospital the same have interested. Medicity our working as identified we'd

it. Got

the Okay. organ And on is transplant then last side. question

I So kidneys looking are the Hemopurifier read most the at from kidneys. other transplantation you be they be transplants, of telling the transplanted potential will I that Will for you results in are get first be other of studies, of would going guess, in And organs? think the I translational to the what these organs. frequently that starting

question. Fisher. Chuck Good is This

we to it, relatively we'll get near-term. our profused. we've well remove be and organs human So our that already which the is first been to initiated to organs things some and and profuse establish currently recently, are we partner has test from the been From with out that, can but at on, the to see both organs, Aethlon been on removing working as and then rejected, the expect just in here get working about that have to Medical we as sent process part results the research we translational devices

So us help that characterize best to understand would how it.

it in parts As to at different the organs later of body from a relates process. stage this

These like Some unknown inflammatory that’s an more may But an inclined many that the effect with inflammatory a and mediators. explore donors to ideally, possible. would see have are to number we These we area living of and scientific as mediators hearts, would have that that expect as recovered donors that we not are in may organs same to might like on be dead some beating not. brain from really donors related. would are these

much very the Thanks for answers. Okay.

Thanks for the question.

question next go Please from H.C. ahead. with Wainwright. comes Bernardino The Vernon

my Hi, taking Jim. for Thanks question. Chuck and

particular. on regarding in transplant in potential And up use follow to organ transplant setting. wanted and of organ last question the Hemopurifier that’s the Just that

like as person, far the there be potential And what the if same clinical Would trials of thinking get two that would complications I’m – two you previously as is your I kidneys the as release it and same that me same following be like would far et be procedure, recovered it’s Please the sounds press that for possibly trials? could cetera? all of the reducing same number of uses organ patient, organ. two transplantation though be seems So clinical the trial, even That correct in increasing transplant. as stated the wrong. transplant viable in same Hemopurifier. that the it’s or as But clinical

question. This your for thanks is Vernon, Chuck.

Chuck. Hey,

would the The think I be the typically having that not issue well thing kidney then the you urine and we the at beginning at at the be is a may is posed making look for a the within question. delayed that months in the a year continued be if graft the and kidneys. And as thing marker And that one be, instance days time, would kidney six functioning first we over mark, looking it’s at function will would to well. functioning seven problem. first same

if of to or of case our potentially back. have further a have in they’re kidney some study the information expect or we sense some we that primarily at need graft delayed delayed to functioning well, Alternatively, which – some So point time in do we be in would some will the in go study our function level have would could would probably dysfunction over answers. it we more time, But until being, to initial for we a addition. follow-on determine graft

different today. onto your a announcements And of part Terrific.

Regarding the year? India, to date. for the in trial in enrollment treatment treated in patient any be What one acceleration this would potential patient

this Vernon, LaRosa. is Steven

So we know…

Hey, Steve.

Hi. Hey.

who from study Medanta fact the – they are to in hospitalized in are COVID enrolled with communication the have to to there ICU. in So date, that we know patients be getting but the need be

COVID that’s well. large the seeing with second admissions So that’s site there’s as And then that also site, potential. a

help So with we second may site enrollment. think the

at going to be [Technical whether Difficulty] to if changes time that’s seen, mercy for result would be the if cases going virus, of will it’s over into eligible to still study. We’re severe that remains the going its are of you in to translate

EG.X? Do increased same increased we’re increased interest which the any due to the hospitalizations dynamics here, of hospitalization, is you indication infections, seeing some variant that they’re have there seeing of

Yes.

as We’re hearing still the still haven’t are hospitalizations, numbers they same up thing, many there that seen case the but patients. ICU are and

Okay.

my Okay. taking Thanks and follow-ups. for questions Appreciate my it.

you. Thank Welcome.

Vernon. Thanks,

closing I our conference to to concludes the for Fisher Chuck back turn would over This question-and-answer like session. any remarks.

future to I like of I wish forward thanks our all discuss keeping for be you very quarter you look and joining. thanks operator, us to on results. joining good We’d everybody today you for the and and good questions. thank a calls. again to for listening asking Thank up here end everybody day, And to date and

now presentation. is for concluded. conference today’s attending you The Thank

You may now disconnect.