Aethlon Medical, Inc. (NASDAQ:AEMD)
Aethlon Medical, Inc. (NASDAQ:AEMD) shares rallied 35.13% after the U.S. Food and Drug Administration (FDA) granted the life sciences and technology company Expedited Access Pathway Designation. The designation is for Aethlon Medical’s Hemopurifier device.
Investors reacted to the news sending the stock to highs of $3.80 a share before it retreated to close the day at $2.70 a share. The rally helped reverse a strong downtrend that had pushed the stock to lows around $1.20 a share. It awaits to be seen if a close above the $2.00 mark will help support the recent uptrend.
Aethlon Medical, Inc. (NASDAQ:AEMD) has been trading between $1.50-$3.85 after shedding more than 30% in market value since the start of the year. The FDA designation continues to fuel investor’s sentiments on the stock on the fact it could accelerate the approval of the Hemopurifier.
Hemopurifier is designed to reduce the spread of pathogens in the patient’s circulatory system. The device can be used to treat a wide range of life threatening viruses. Currently, the device is being used to capture a broad spectrum of viruses, most of which are highly glycosylated, including life threatening strains of influenza viruses.
“We are honored to have our Hemopurifier® designated to the Expedited Access Pathway and additionally are pleased that FDA has also allowed our proposed “indication for use,” which provides the possibility of treating a wide-range of life-threatening viruses versus a single disease condition,” said Jim Joyce, Chairman, and CEO of Aethlon Medical, Inc. (NASDAQ:AEMD).
Aethlon Medical Hemopurifier Uncertainty
However, the Hemopurifier continues to be plagued by uncertainty as the next course of action after the FDA designation remains unknown. Aethlon Medical, Inc. (NASDAQ:AEMD) is yet to ascertain how it will proceed with clinical studies to determine the safety and efficacy of the device in highly virulent and pandemic threats. Currently, there is no FDA approved device the treatment of highly deadly viruses.
Separately, Aethlon Medical, Inc. (NASDAQ:AEMD) reported a net loss of ($1.4) million for the first fiscal quarter ended June 30, 2017, compared to a net loss of $2.2 million in Q2 2017 and $1.5 million in Q4 2017. The life sciences company exited the quarter with cash and cash equivalent of $327, 000 down from $1.4 million as of Q4 2017.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
Don’t miss out! Stay informed on $AEMD and receive breaking news on other hot stocks by signing up for our free newsletter!
About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.