Aethlon Medical Inc. (NASDAQ:AEMD) Stock Sees Bullish Action: A Breakout?

Aethlon Medical Inc. (NASDAQ:AEMD) jumped 31% as the company has been in the spotlight for its flagship product, Hemopurifier. Hemopurifier has been certified to bind and eliminate glycosylated viruses from circulation, such as removing SARS-CoV-2 from the blood of patients.

Interestingly, over the past six months, AEMD has surged over 140%. Recently, the FDA granted a supplement to the open IDE for Hemopurifier, allowing the company to test Hemopurifier in SARS-CoV-2 patients in a New Feasibility Study.  So far, the company has treated two COVI_19 patients under the Single Patient Emergency User regulation with the Hemopurifier. 

The company released its fiscal year financial results for the year ending March 31, 2021. At the end of the year, the company had a cash balance of around $9.9 million. Consolidated operating expenses for increased to $8.6 million, which was mainly due to $1.1 million on payroll and associated expenses and as a result of the $1.2 million cash-based compensation and  $400,000 increase in severance payment and cash compensation of former CEO. So in the coming months, AEMD is a stock to watch.

Market Reaction:

On Monday, AEMD stock soared 31% at $4.93 with more than 16.34 million shares, compared to its average volume of 5.62 million shares. The stock has moved within a range of $3.7000 – 5.0600 after opening the trade at $3.74. Over the past 52-week, the stock has been trading within a range of $1.2200 – 12.4900.