Aethlon Medical, Inc. (NASDAQ: AEMD), a medical therapeutic company focused on developing products to treat cancer and life-threatening infectious diseases, has announced the pricing of a follow-on offering to raise capital for general corporate purposes. The company is offering 5,633,009 shares of its common stock or pre-funded warrants in lieu thereof, along with warrants to purchase up to an aggregate of 5,633,009 shares of common stock. The combined public offering price is set at $0.7101 per share and accompanying warrant, priced at-the-market under applicable Nasdaq rules.

The warrants will have an exercise price of $0.7101 per share, exercisable upon the date of stockholder approval, and will expire on the five-year anniversary of that date. The shares and warrants are immediately separable and will be issued separately. Maxim Group LLC is acting as the sole placement agent for the offering. The closing is expected to occur on or about July 7, 2026, subject to customary closing conditions.

Gross proceeds from the offering are expected to be approximately $4.0 million before deducting placement agent fees and other expenses. Aethlon Medical intends to use the net proceeds for research and development, clinical trial expenses, capital expenditures, and working capital. The company may also use a portion of the proceeds to in-license, acquire, or invest in complementary businesses, technologies, products, or assets.

Key Details of the Offering

The securities are being offered pursuant to a registration statement on Form S-1 (File No. 333-296933), which was declared effective by the U.S. Securities and Exchange Commission on July 6, 2026. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities in any jurisdiction where such offer or sale would be unlawful.

Aethlon Medical, Inc. has announced the publication of peer-reviewed research in the International Journal of Molecular Sciences that identifies a novel biomarker for Long COVID and validates the potential of its Hemopurifier as a therapeutic target. The study, conducted in collaboration with the University of California, San Francisco (UCSF), reveals that patients with Long COVID exhibit significantly increased levels of mannosylated extracellular vesicles (EVs) compared to those who fully recovered from COVID-19 infection. These EVs can be captured using the Galanthus nivalis agglutinin (GNA) affinity resin incorporated into the Hemopurifier.

The research analyzed plasma samples from participants enrolled in UCSF's Long-term Impact of Infection with Novel Coronavirus (LIINC) study. It provides new evidence supporting extracellular vesicles as a potential therapeutic target in Long COVID. The findings help establish a translational framework for future studies to determine if the Hemopurifier can remove disease-associated EVs and their molecular cargo.

"The publication of this study contributes to the scientific understanding of the biological mechanisms underlying Long COVID while strengthening the rationale for evaluating the Hemopurifier in this significant area of unmet medical need," said Jim Frakes, Chief Executive Officer and Chief Financial Officer of Aethlon Medical.

Key Findings

The study's principal findings demonstrate the Hemopurifier's mechanism of action and its potential impact on Long COVID pathology:

Strategic Focus

While the company's current resources and primary focus remain dedicated to advancing its Australian oncology clinical trial, these findings provide additional translational evidence supporting future preclinical and clinical studies for Long COVID. Frakes emphasized that the findings reinforce the potential of the Hemopurifier as a platform technology with applications across multiple disease areas, describing it as a "pipeline within a single device."

The Hemopurifier is a clinical-stage immunotherapeutic device designed to combat cancer and life-threatening viral infections. It utilizes proprietary lectin-based technology to remove harmful EVs from biological fluids. The device holds a U.S. Food and Drug Administration (FDA) Breakthrough Device designation for the treatment of advanced or metastatic cancer and an open Investigational Device Exemption (IDE) application for life-threatening viruses.