Aethlon Medical reduced its fiscal 2026 net loss to $7.2 million, narrowing the deficit from $13.4 million in the prior year, as the company advanced its Australian oncology study into the final dosing cohort. The clinical-stage therapeutic company reported quarterly earnings of $0.40 per share, beating the analyst consensus estimate of $(2.02) by 119.9%. This represents a 110.81% increase over losses of $(3.70) per share from the same period last year. Operating expenses declined 21.9% year-over-year to approximately $7.3 million, driven by a $1.1 million reduction in payroll costs, alongside decreases in general and administrative expenses and professional fees. As of March 31, 2026, the company held approximately $5.0 million in cash and cash equivalents, subsequently strengthening its balance sheet with roughly $1.85 million in net proceeds raised through an at-the-market program.

Clinical Progress

The Australian oncology study has progressed through the completion of the first two cohorts and has entered the third and final dosing cohort. An independent Data Safety Monitoring Board reviewed the data from Cohort 2, identified no safety concerns, and recommended advancement to the final stage. The first participant in Cohort 3 was treated at Royal North Shore Hospital in Australia, completing three Hemopurifier treatments over a one-week period without device deficiencies or immediate complications. This study is designed to evaluate the safety and feasibility of the Hemopurifier in participants with solid tumors.

Corporate Developments

Aethlon expanded its intellectual property portfolio during fiscal 2026 with the issuance of patents in the United States and Europe covering potential applications for long COVID and other coronavirus-related conditions. These patents extend protection for certain applications into the 2040s. Additionally, the company advanced preclinical research evaluating Hemopurifier applications in rheumatoid arthritis and chronic kidney disease. Aethlon also confirmed the continued availability of its FDA-authorized expanded access protocol for Ebola virus disease, sharing data with organizations involved in global pathogen preparedness efforts.

Financial Performance

The reduction in operating expenses was primarily attributed to lower payroll and related expenses, general and administrative costs, and professional fees. Consequently, the operating loss for the fiscal year decreased to approximately $7.3 million from $9.3 million in the prior fiscal year. Other income was approximately $142,000 for the fiscal year ended March 31, 2026, compared to an other expense of approximately $4 million in the prior year, which included approximately $4.7 million of non-cash financing-related charges.