
Financial Report Card - Report on Aethlon Medical
NEW YORK, September 16, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Aethlon Medical, Inc. (NASDAQ: AEMD). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=AEMD
Highlights from our AEMD Report include:
- Q1 FY 2016 Results at a Glance- In a press release dated August 13, 2015, Aethlon Medical, Inc. reported results for the first quarter of fiscal 2016 (period ended June 30, 2015). The Company recorded revenues of $192,508 from government contracts during the quarter, which indicated over threefold growth over revenues of $51,296 generated in the first quarter of fiscal 2015. The Company has attributed this increase in revenue to a milestone achievement under DARPA contract in the 2016 period. Net loss attributable to common stockholders came in at $1.2 million or $0.18 loss per share in Q1 FY 2016, compared to net loss of $3.7 million or $0.80 loss per share for Q1 FY 2015.
- Operational Performance Review - The Company reported consolidated operating expenses of $1.3 million compared to $1.2 million in the corresponding quarter prior year. Professional fees were $538,226 during the quarter as compared to $401,613 in the prior year quarter. The Company has attributed this $136 thousand increase in professional fees to an increase in non-DARPA-related professional fees of $237 thousand. Payroll and related expenses came at $458,228, lower from $620,686 in the first quarter of last year, impacted by a $120 thousand decrease in stock-based compensation due to vesting of stock option grants issued in July 2013 and June 2014 and to a $42 thousand reduction in cash-based compensation due to headcount reductions from the 2014 period. The Company's General and administrative expenses were $286,025 during Q1 FY 2016, higher from $201,005 in the first quarter of last year, primarily due to an increase of $110 thousand in non-DARPA-related general and administrative expenses. The Company reported an operating loss of $1.1 million during Q2 FY 2016, as compared to an operating loss of $1.2 million during Q2 FY 2015.
- Management Opinion - Providing a glimpse about key corporate actions and future business outlook, Jim Joyce, Chairman and CEO of Aethlon Medical, stated, "We continued to strengthen our balance sheet through the completion of a $6 million equity financing and our shares began trading on Nasdaq, which broadens our access to the capital markets. As a result of the financing, we have the capital resources to support the FDA-approved study we initiated to advance Hemopurifier® therapy as a candidate to treat a broad-spectrum of viral pathogens. Additionally, we are better positioned to pursue clinical opportunities that exist for our Hemopurifier® in cancer care."
To find out how this influences our rating on Aethlon Medical, Inc., read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=AEMD
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