Aethlon Medical, Inc. (NASDAQ:AEMD)
Aethlon Medical, Inc. (NASDAQ:AEMD) shares fell 3.88% after announcing the formation of a large scale production collaboration agreement with iBio, Inc. (NYSE AMERICAN: IBIO). The primary goal of the collaboration is to advance the large-scale production of Galanthus nivalis agglutinin (GNA), a plant-derived lectin in Aethlon’s Hemopurifier.
According to iBio President, Barry Holtz, a collaboration of the two companies is an ideal combination for the delivery of new therapeutic approach for pandemic diseases and biothreats. Researchers from the two companies have already completed a feasibility study that sought to produce highly active recombinant GNA with iBio’s plant technology.
Jim Joyce, Chairman and CEO of Aethlon stated, “The production of recombinant GNA in iBio’s large-scale manufacturing facilities establishes a pathway for us to access a consistent, high-quality supply that can support our long-term clinical and commercialization objectives,”
Aethlon Hemopurifier is a first-class therapeutic device that the U.S. Food and Drugs Administration (FDA) has awarded Expedited Access Pathway for the treatment of life-threatening viruses. The biotechnology company has already validated the device’s ability to capture a broad spectrum of pandemic influenza viruses as well as mosquito-borne viruses and deadly hemorrhagic viruses.
Aethlon Medical, Inc. (NASDAQ:AEMD) is currently investigating the potential use of the Hemopurifier to reduce the presence of tumor-derived exosomes which suppresses immunity and leads to a spread of metastasis in cancer patients.
AEMD Stock Performance
Aethlon’s stock underperformance continued in Monday’s trading session as the stock came under pressure from sellers. The stock is currently trading at multi-year lows after losing more than 70% in market value since the start of the year. The stock dropping below the $1 a share is already arousing concerns about the stock’s continued listing status in the market.
Last week Aethlon Medical, Inc. (NASDAQ:AEMD) issued a statement indicating that the NASDAQ had formally notified it that it complied with all the applicable required listing requirements. While one of the requirements is a $2.5 million stockholder equity position, the share price is also required to be above $1 a share for continued listing
Aethlon Medical, Inc. (NASDAQ:AEMD) is in need of new catalysts if it is to gain favor among investors and bounce back from current trading levels.
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.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.