Aethlon Medical (AEMD) PT Lowered to $7 at H.C. Wainwright

H.C. Wainwright analyst Vernon Bernardino lowered the price target on Aethlon Medical (NASDAQ: AEMD) to $7.00 (from $10.00) while maintaining a Buy rating.

The analyst commented: "On June 18, Aethlon Medical announced the Human Research Ethics Committee (HREC) of the Central Adelaide Local Health Network (CALHN) granted full ethics approval valid for three years for Aethlon’s plan to conduct a safety, feasibility, and dose-finding clinical trial with the company’s Hemopurifier in cancer patients with solid tumors who have stable or progressive disease during anti-PD-1 monotherapy with Keytruda or Opdivo (nivolumab). As a reminder, the Hemopurifier is a medical apheresis device that Aethlon designed to bind and remove viruses, bacterial toxins and cancer promoting extracellular vesicles (EVs or exosomes) circulating in blood. EVs produced by tumors have been implicated in the spread of cancers, as well as resistance to anti-PD-1 therapies. Thus, we are positive on the news, as the Hemopurifier has been shown in in vitro experiments to reduce exosomes from the plasma of cancer patient blood samples. Thus, we believe there is high potential for this feasibility study to be positive. As only 30% of patients who receive Keytruda or Opdivo demonstrate lasting clinical responses, we also expect high interest in this study from the medical community. We look for approvals from ethics committees at two additional sites in Australia, as well as one in India, to round out Aethlon’s plans to expand Hemopurifier studies, which including enrollment of the first patients in the second-half of 2024, could be positive catalysts. We are impressed with Aethlon’s rapid progress with the Hemopurifier in oncology applications, and thus, reiterate our Buy rating, and adjusted for share dilution from the recently completed financing, set a new $7 price target, down from our prior PT of $10."

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