Aethlon Medical cuts staff, opex up 77% before North Immunology deal
SAN DIEGO — November 12, 2026 -- Aethlon Medical (Nasdaq: AEMD) reported operating expenses of about $2.7 million for the fiscal second quarter ended September 30, 2026, up 77.2% from about $1.5 million a year earlier. The company cut its workforce near the end of the quarter as it prepares a merger with North Immunology, Inc.
Cash and cash equivalents stood at about $6.5 million on September 30, 2026. By FairsOnline's calculation, that is roughly 2.4 times the quarter's operating expenses.
Higher merger fees and a missing tax credit drive the $1.2 million cost increase
The quarterly increase works out to about $1.2 million. The company attributes it mainly to higher professional fees tied to the proposed merger. It also cites the lack of a research and development tax credit in the period, which it says was a timing issue and raised general and administrative expenses.