AIM ImmunoTech Reports Second Quarter 2024 Financial Results and Provides Corporate Update
16 August 2024 - 9:00PM
AIM ImmunoTech Inc. (NYSE American:
AIM) (“AIM” or the “Company”) today reported its
financial results for the second quarter 2024. As previously
announced, the Company will host a conference call and webcast
today, Friday, August 16, 2024, at 8:30 AM ET (details below).
“We continue to see great potential in Ampligen
as we progress across our clinical development programs and look
forward to results from our ongoing studies in the near future. Our
entire team remains dedicated to patients and stockholders and will
continue to drive momentum across our operational, clinical and
regulatory initiatives throughout the remainder of 2024. We
strongly believe in the potential of Ampligen to have a meaningful
therapeutic benefit across multiple indications as well as the
opportunity to unlock significant shareholder value,” commented AIM
Chief Executive Officer, Thomas K. Equels.
Recent Highlights
- Announced new positive data on Ampligen’s anti-tumor potential
when used as part of a combination therapy for the treatment of
melanoma
- A manuscript of the results titled, “Therapeutic Anti-Tumor
Efficacy of DC-Based Vaccines Targeting TME-Associated Antigens is
Improved When Combined with a Chemokine-Modulating Regimen and/or
Anti-PD-L1” was published in the peer-reviewed journal
Vaccines.
- Released several CEO Corner segments highlighting Company news
and programs
Summary of Financial Highlights for Second Quarter
2024
- As of June 30, 2024, AIM reported
cash, cash equivalents and marketable securities of $10.1
million.
- Research and development expenses
for the three months ended June 30, 2024, were $1.1 million,
compared to $3.0 million for the same period in 2023. Expenses for
the six months ended June 30, 2024, were $3.1 million, compared to
$5.0 million for the same period in 2023.
- General and administrative expenses
were $2.6 million for the three months ended June 30, 2024,
compared to $2.6 million for the same period 2023. Expenses were
$6.4 million for the six months ended June 30, 2024, compared to
$4.8 million for the same period in 2023.
- The net loss from operations for
the three months ended June 30, 2024, was $1.8 million, or $0.03
per share, compared to $4.9 million, or $0.10 per share, for the
same period in 2023. Net loss for the six months ended June 30,
2024, was $7.7 million, or $0.15 per share, compared to $8.6
million, or $0.18 per share, for the same period in 2023.
Please refer to the full 10-Q for complete details.
Conference Call and Webcast Details
As previously announced, the Company will host a
conference call and webcast to discuss the Company’s Q2 2024
operational and financial results today, August 16, 2024 at 8:30 AM
ET.
The call will be hosted by members of AIM’s
leadership team, Thomas K. Equels, Chief Executive Officer and
Christopher McAleer, PhD, Scientific Officer. Interested
participants and investors may access the conference call by
dialing (877) 407-9219 (domestic) or (201) 689-8852 (international)
and referencing the AIM ImmunoTech Conference Call. The webcast
will be accessible on the Events page of the Investors section of
the Company’s website, aimimmuno.com, and will be archived for 90
days following the live event.
About AIM ImmunoTech Inc.
AIM ImmunoTech Inc. is an immuno-pharma company
focused on the research and development of therapeutics to treat
multiple types of cancers, immune disorders and viral diseases,
including COVID-19. The Company’s lead product is a first-in-class
investigational drug called Ampligen® (rintatolimod), a dsRNA and
highly selective TLR3 agonist immuno-modulator with broad spectrum
activity in clinical trials for globally important cancers, viral
diseases and disorders of the immune system.
For more information, please
visit aimimmuno.com and connect with the Company
on X, LinkedIn, and Facebook.
Cautionary Statement
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (the “PSLRA”). Words such as “may,” “will,”
“expect,” “plan,” “anticipate,” “continue,” “believe,” “potential,”
“upcoming” and other variations thereon and similar expressions (as
well as other words or expressions referencing future events or
circumstances) are intended to identify forward-looking statements.
Many of these forward-looking statements involve a number of risks
and uncertainties. Publication of this data, and pre-clinical and
clinical success seen to date, does not guarantee that Ampligen
will be approved for the commercial treatment of cancers. The
Company urges investors to consider specifically the various risk
factors identified in its most recent Form 10-K, and any risk
factors or cautionary statements included in any subsequent Form
10-Q or Form 8-K, filed with the U.S. Securities and Exchange
Commission. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Among other things, for those statements, the
Company claims the protection of the safe harbor for
forward-looking statements contained in the PSLRA. The Company does
not undertake to update any of these forward-looking statements to
reflect events or circumstances that occur after the date
hereof.
Investor Contact:
JTC Team, LLC
Jenene Thomas
(833) 475-8247
AIM@jtcir.com
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