On Tuesday’s trading session, the stock price of Aethlon Medical, Inc. (OTCMKTS:AEMD) climbed up immediately after the open. It was the second consecutive day of gains for AEMD as it surged more than 6%to close at $0.250. The company issued a PR, mirroring an 8-K filing on Monday. It highlighted modifications in its agreement with the ‘Defense Advanced Research Projects Agency’. The original contract was signed in September 2011.
Aethlon Medical in the filing reported that it issued 1.86 million shares to pay off convertible debt at a price of $0.042 per share, far below its stock market price. The company issued more than 16 million common shares at the same price of $0.042 in November 2014. The company is working on the flagship Hemopurifier technology, which again is a part of the key contract.
The Hemopurifier technology of Aethlon is developed to minimize the viral contents in patients’ blood. As per the latest PR related to the Hemopurifier, the company enrolled its first patient in the FDA-approved feasibility trial in late February 2015. It implies still there is a lot more time left before the device is approved and commercialized.
Jim Joyce of Aethlon Medical stated that with the feasibility study underway, the management will work on filing HUD submissions. They form a strong base for prospective FDA market clearance to cure viral problems attacking almost 4,000 individuals in the U.S. annually.
Aethlon’s Hemopurifier device has been tested outside the U.S. for curing HIV, HCV, and Ebola infected patients. The previous studies have indicated that the device identifies Ebola hemorrhagic virus as well as dengue hemorrhagic virus and Lassa hemorrhagic virus. Some of the other viruses identified by the device are H5N1 avian influenza, influenza virus, H1N1 influenza virus, and monkeypox and West Nile virus. The research process was carried out with leading government as well as private firms.