AEMD - Earnings call transcript Q3 2022

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Operator

Good afternoon, and welcome to the Aethlon Medical Third Quarter Fiscal 2022 Earnings and Corporate Update Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Jim Frakes, Chief Financial Officer. Please go ahead.

Jim Frakes

good and operator, you, afternoon, everyone. Thank Aethlon to Medical’s third call. conference earnings XXXX quarter Welcome Jim I’m Frakes, Officer. is name My and Aethlon’s Financial Chief At X:XX P.M. third Eastern results XXXX. Medical Aethlon quarter its Time XX, ended released December today, for financial

you please the release, If Medical’s at visit not received Investors seen Aethlon have earnings www.aethlonmedical.com. page or

I provide reading and our our Dr. Officer, Chief statements, introduction then an of CEO, strategy Aethlon’s will will Aethlon’s overview this developments. brief Following Aethlon’s of Dr. some and recent Medical Steven the financials. forward-looking remarks Chuck and make LaRosa, Fisher; on

for We will then the open Q&A up the call session.

will Before XXXX today Dr. that Fisher, and is as not Securities statements. as duty of Medical’s – reflect date Exchange company a Commission. company’s amended, hand statements by law, with annual the XXXX does within me. March uncertainties, assumptions found anticipated under and most please release risks Securities be With ended to the Aethlon contain the call is undertake a call Officer, other order of intend news and and Chief statements forward-looking that, now fact statements or circumstances. and Factors company’s amended. and you forward-looking our conference information the actual report future the Chief I could on subject to cautions in expectations over turn These the results can may of the I statement. The fiscal company the this Form Financial over Exchange the this report any Act Fisher, the of the note as Executive on Form that Act Dr. to to to recent statement call. forward-looking cause meaning to statements update differ XX-K that Such call excuse of not as may forward-looking the Chuck anticipated required materially to filings XX-Q significant in XXXX, and from statement results that materially from are Risk historical in forward-looking in for in Except events the differ are Factors XX, the those results on this year caption of based be Securities any Officer the

Chuck Fisher

hand you I’d you, all Thank serving Chief privilege Jim, our last of on on have then and It in. three Dr. call time, at diseases will clinical LaRosa, clinical is in our trials our infectious since cancer efforts I Chief call trial to Officer. space. and this over busy Steven who I’m like Executive thanks Steve? in Chuck to dialing of the Fisher. Aethlon’s make some investor provide will This for the update – Medical an been conference X, XXXX. as a Officer, months November has the on remarks

Steven LaRosa

thanks Hi, Chief Dr. and presentation. for and Officer listening Medical I everyone, at into am the Steven am Aethlon. I LaRosa our

under infections. clinical sites IDE, for XX patients the to is feasibility Hemopurifier allow up trial up life-threatening with clinical our give an severe open investigating under for and treatment to being conducted Hemopurifier be to Exemption, The SARS-CoV-X, the protocol First, the like you patients an in would designed infection. to to is for U.S. the XX study of treated Device in on viral U.S. I trial early COVID-XX This update Investigational trial the

U.S. to quarter, oversee with entered our contract the As you clinical research organization a the agreement may PPD, patients. recall, Hemopurifier for leading ill investigating studies during global critically we COVID-XX last into

University India expected be on into had Exemption at we enrollment and UC our board actively in Davis, clinical Jefferson patient a earnings now future. our for enrollment the trial Linda Medical Loma trial. screening for infections. for additional Investigational hospitals, Miami that approval have and and review centers, hospital Newport for ethics the patients the Device Irvine, are during in obtained Medical open recently front, under with last Thomas in Hoag trial clinical COVID to Hospital, Center, multi-specialty We location. make Medanta that Valley entered Hoag We three I life-threatening near progress Beach, trial continue COVID the agreement who that to Center, Hemopurifier Baptist open of a Shreveport, Medical Medicity our during the severe COVID quarter Also An and including activated Delhi, are for noted LSU call, Center fully five viral for are

trials We patients. have C Medicity as clinical multiple trial previous a as conducted well Medanta clinical in hepatitis investigator previously with principal the with

is with U.S. clinical goal patients. data. This also COVID-XX the patients submitted help data actively Indian there Our expect to is now enrollment will our is FDA we for patient to screening be the that trial generate supporting in along and to and with open India site

over things me Now back Chuck turn to let Fisher.

Chuck Fisher

Thanks, Steve.

our for exclusion additional head but has neck inclusion the trial. for COVID, the impact I’d Center at team to have the like of screen microRNAs publication, to on from update binding we patients of of In of The removal to SARS-CoV-X – peer Pittsburgh Aethlon with has we the patients injury. largely a As and not an of coagulopathy that found and SARS-CoV-X the for has the to in and reported the additional review circulation patient. human the criteria this enrollment. publication, you exosomes protein agreed of on discussed, also also lung spike previously by and the from cancer and University reported due a removal demonstrated associated Medical Hemopurifier exosomal binding trial, give Hemopurifier as virus continued acute meet

be very to a market for cancer, consider we Hemopurifier. As the meaningful

to trials also looking and to or additional we acceleration to starting We are and sites of now domestically recruitment, expand forms trial and cancer. one are other more considering both additional abroad this

related bind COVID-XX and COVID-XX remove exosomes. including Hemopurifier research many variant our and to We of continue and of our interest clinical bioparticles development particles

once turn to open over Medicity, working Kher, trials Medanta Jim be With pleased up clinical for Dr. floor with the are has back to again We questions. discussion to done it and financial previously who that, four with Aethlon. very I’ll

Jim Frakes

Thanks, XXXX, again, we Chuck, balance approximately At cash of XX, afternoon, a had and good million. December $XX.X everyone.

up trials. well for position current our clinical LaRosa of for sets conducting our and Our trials, manufacturing very us noted, those the planned cash as Hemopurifier Steven for just

stock in proceeds a ATM combination During $XX.X the we sales. nine registered a of net of XXXX, direct in approximately financing months ended the raised December XX, from common issuance million and

approximately of expenses comparable XX, the in accrual $XXX,XXX in The with increase separation period an consolidated offset with $XXX,XXX decrease Our payroll expenses operating for ended period, XX, expenses to were and XXXX, the XXXX December $X.XX decrease compared a to to related and agreement in XXXX and of in approximately XXXX. no the expenses payroll This approximately related period, the CEO our $XXX,XXX months approximately to expenses general partially XXXX $XXX,XXX, XX% was the December $XXX,XXX. months was due by professional in paid ended bonuses approximately primarily in December million the in and December for which approximately of or due December $XXX,XXX of in million the three of administrative period. and combination $XXX,XXX fees former in related three the were $X.XX decreases XXXX

website and again, our employments decreased compensation with in increase in revenue our deferred expenses $XX,XXX as in Phase expense separation our and of December in reimbursable for December of Head XXXX Therapy legal the expenses, $XXX,XXX quarter payroll with senior $XXX,XXX Pittsburgh contract $XXX,XXX with condition NIH due the an were our of compensation, We expenses. And under was a related directors’ in CEO. of the and partially primarily $XX,XXX respectively, Improve San period to $XX,XXX the in $XX,XXX We were an a scientific G&A to certain our Immune agreement in to the in X fees. cash-based consulting $XXX,XXX arrangement a sub-award as during largely and services $XX,XXX decreases milestones by decrease recorded connection entitled clinical of our compensation XX, a $XXX,XXX our in decrease trial Partially a our to to which an period, Neck G&A decrease California recorded not the in an fees and the was in $XX,XXX their R&D in increases. Cancer former $XX,XXX to due were submitted accounting that relocated cost increase $XXX,XXX "Depleting our University Contract $XX,XXX and since fees offsetting our The revenue in decrease approximately to in to due Cancer.” $XX,XXX stock-based recruiting to primarily increase by relocation-related Exosomes XXXX, headcount compensation offset our decrease Responses payroll, two Additionally, achieved. ended those executives Diego, to fees, invoice professional in approximately increases due Melanoma decrease in

a $XX,XXX XX, total approximately revenue we of three December ended recorded As months in the XXXX. government contract result,

periods XXXX, loss for $X.X operations revenues XX, ended to a approximately That statements three I changes XX, earlier these and XXXX, the for approximately interests balance result the from in in release million included noncontrolling afternoon. results of months and the issued XX, earnings that $X.X December included We our December reviewed, a expenses months XX, release three- December before the December XXXX As just and ended XXXX. this three for the commentary XXXX. of ended nine-month related net press sheet the million increased and for and

our call. XX-Q We quarterly file report this following Form will on

questions March Our annual And of next ending please I the Form any coincide open call XX, you happy with report for take earnings be on that questions. fourth Chuck, might will call June. filing in XX-K and would Steve to the Operator, quarter XXXX, now fiscal for have. the our

Operator

Instructions] with ahead. Marla go is [Operator first question Zacks. The from Please Marin

Marla Marin

you. Thank

agreement question Is more just housekeeping say I for have point, anniversaried with first, for this future we’ve it bit comps be the noise and that separation to to apples former a one fair quarterly little at So CEO apple? around will the Jim.

Jim Frakes

Yes, that’s correct, Marla.

Marla Marin

Okay. Great. Thanks.

Okay.

with the little challenges kind of a in – of variants, do switching these as Hemopurifier talk So you a of a about also, any COVID the tweaks make there’s of in to have Are anticipating bit. small now continue topics different to And that? of you does variants. studies variants? any kind foresee recruiting that studying right the Obviously, terms to news you the order lot result in

Chuck Fisher

chance finally the of proteins that virus binding basis. had infectivity is able to so variants yet. a is test far complete for What spike test learning question. great we their we that Chuck. protein. a reduce just to all not the do is not Marla, We’ve We are Steve? for the on be therefore, and It on in we is and this Thanks should that that yet.

Steven LaRosa

answer To two is current of Yes. recruiting variant workers. with the the the it’s on difference your healthcare a questions affecting lot front, the

don’t of cartridge challenge that’s COVID the – bind. staffing for needed changes with our in itself are would terms due as – Hemopurifier So a which the to should hospitals. of the anticipate all glycoproteins, covered the We variants be study any filter because at should

So, any we don’t that would modifications be necessary. study think

Marla Marin

advanced now that was And that us to you. exactly, study you you any Thank now mean how in color which launch? market on And situation see months more your one probably think vis-à-vis give can then Okay. last what tell reading right I about question, can or that their we is, of us ours. were worse you terms COVID. is you’re was ago, I India than how

Chuck Fisher

Right.

So, we’re been Medicity’s actually with and have in investigators, are screening. close they communication Medanta

us for are, there but available numbers, and there screening COVID within in can’t ICU. the within that patients you now. hospital give tell fact they are are I so patients right exact And the

Marla Marin

much. very you Thank Okay,

Operator

[Operator next with Please Instructions] Maxim is Vendetti The ahead. Anthony Group. question from go

Anthony Vendetti

everyone. Appreciate Maybe, it. the Good centers. on three Thanks. afternoon Chuck,

KEYTRUDA new So in centers UPMC, COVID, be in KEYTRUDA your mostly new to that what’s patients on, that the necessary trial? for ability meet you’re these the the terms far, haven’t to working criteria centers patients so to new of enrolled best These estimate that in due trial. have

Chuck Fisher

referring you want just answering I’m or Are question I make trial Anthony, the your the COVID to oncology trials? sure to appropriately.

Anthony Vendetti

I’m both, about starting ask The to oncology the going was well, with trial. – first I

Chuck Fisher

happening were I different in tell we what those discussions other internationally, are the with oncology discussing Well, you, trial designs, centers and and both can is types contact and tumor currently. domestically and

Steven LaRosa

productive very a of conversations have We Anthony. with interest, lot

the not – that at have a certain by the are to with point. pleased had bed best where current in we’re And United there COVID has So, the been has extent, places hit happened this States. offset seriously it the and

Anthony Vendetti

more And then many COVID the there getting trial? how difficulty foresee – some currently enrolled in enrolled Okay. here trial, as in rates COVID switching is do to precipitously obviously, in the And domestically, patients then gears that? patients are you – drop

Chuck Fisher

answer the XX there’s the to have the So systems phenomena But enrolled not interesting peak to Anthony, we the an were your wave, of staffing and date. the any of patients question, healthcare somewhat where at overwhelmed.

spot of now in the so the come have the down, doesn’t makes same not sweet it a repercussions under enroll makes to them where would more the So, for more have counterintuitively actually number they’re hospital we’re cases easier wave. within staffing it but it of buried on the the weight easy it may – because that

Anthony Vendetti

Okay.

Chuck Fisher

a so reiterate, cases the has is staffing to the within strain, there of have a and Just but less hospital. still improved put number cases

to from it makes perspective. easier just enroll a staffing it So

Anthony Vendetti

return terms that rates outs from itself as ahead. for to perspective having go staffing in So right, – or but COVID, being easier the [ph] it’s trial impaired peak call of seems the good to staffing that a be start from case AXEL from people positivity the yes, and enroll to and

Chuck Fisher

Yes.

So teams just been coded returning that to and work. it, have all expand study had actually down they’ve upon they’re TIs because had shut research and we’ve to whole

example. just that’s So one

Anthony Vendetti

So, estimate sure No, obviously, your across of in though, delayed the types that makes in or best playing as type sort or country what’s and of could right? yes, the all but returning of timeline things, terms for that’s see out of sense. terms on no, any that of COVID of you Sure. expectation I’m it’s the they’re for year? up studies, that trial the ramping that of any time you provide this rest type line estimate now –

Chuck Fisher

hospitals of five activation. that the the are of screening in in group, now of that final U.S. are a device three Often training we’re stages few of that that there’s So least remains. different sites where cohorts, at that happy all the now actively we have And we stage final kind for have is

the contracts, laborious So, stages. we’re we’ve all through that’s IRB and passed gotten budgets, final approvals, process in the of

when but give can’t the date of I it they’ll So, be you future. near in exact an will be open,

for the we’ve of through So, gone process, kind activation the sites. the those bulk of process

Anthony Vendetti

looking forward. on more of the the Okay. question hospitals of the good It’s Medical expand to you’ve both last screening And University the and oncology Pittsburgh trial. expanded is that and COVID the sort beyond Center reach, for going KEYTRUDA three process the actively for strategy for on side

at to In could it’s these warrant and that be cost – process doesn’t this? meet – going is it anything recruiting or criteria, terms Or – is have of process in does general to it’s outsourcing matter benefit expedite sense? the there patients no Or for make CROs any you what, contemplated the you? any using there looking of just

Chuck Fisher

Qualtran, and a that our a center oncology that, for true, is also CRO which it and we’re been to what Medanta so employing is single would The an things getting PPD accelerate done. and process would So timeframe envision Medicity future they’ve on But get activation running. we that Yes, oncology we to that manage. CRO. employ for study employing the study, site is in helpful easier a agree the the India brought study actually does COVID same becomes as actually we’ve it acceleration studies of we CRO noticed is The up quite we result – activation them. of an

Anthony Vendetti

in queue. back the hop I’ll great. Okay, you. Thank

Chuck Fisher

Thanks, Anthony.

Operator

our like This Chuck over turn would conference closing session. Fisher question-and-answer to for remarks. any concludes to back the I

Chuck Fisher

very for us once day. I’d good calls. today to We an you to again much forward Thank Have us. keeping to results. you QX on up of for our informed a you joining our like you future date thank discuss joining look all

Operator

now for presentation. The conference today’s has you Thank attending concluded.

You may now disconnect.

Aethlon Medical (AEMD) 15 Feb 222022 Q3 Earnings call transcript