Aethlon Medical, Inc. reported its financial results for the fiscal second quarter ended September 30, 2024, on November 13, 2024. The company held a cash balance of approximately $6.9 million as of the quarter's end.
Consolidated operating expenses for the quarter decreased by approximately $300,000, or 9%, to $2.9 million compared to $3.2 million in the prior-year period. This reduction was primarily due to a $600,000 decrease in professional fees, partially offset by increases in payroll and general and administrative expenses.
The company also announced significant clinical progress, including the enrollment of the first two patients in its Australian oncology trial. Pindara Private Hospital in Australia received ethics committee approval and is now open for patient enrollment, and ethics committee approval was also received for a similar trial in India. Additionally, James Frakes was appointed as the company's permanent Chief Executive Officer in October 2024.
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