Aethlon Medical Inc., a company that makes a blood-filtering device to treat infectious disease and cancer, reported financial results for its fiscal 2016 third quarter.
The company reported a net loss of $1.2 million for the quarter, slightly improved from a net loss of $1.6 million in the same period of the previous year. Aethlon brought in $301,000 in government contract revenue in the quarter, up from only $33,000 in the third quarter of previous year. The increase was due to achieving a milestone under the company’s DARPA contract, according to an Aethlon news release.
The company reported a cash balance of about $3.3 million, which will fund Aethlon’s FDA approved feasibility study in the U.S. and its operations over the current fiscal year.
