AIM ImmunoTech Q2 2024 Financial Results and Corporate Update

AIM ImmunoTech Inc. reported its financial results for the second quarter of 2024. As announced earlier, AIM will hold a conference call and webcast on Friday, August 16, 2024, to discuss these results in detail. The company has made strides in the development of its lead product, Ampligen, and is optimistic about its potential therapeutic benefits.

Thomas K. Equels, the Chief Executive Officer of AIM, expressed confidence in the future of Ampligen, highlighting its progress in ongoing clinical development programs. Equels emphasized the company's commitment to patients and stockholders and noted that AIM remains focused on achieving significant milestones in its clinical, operational, and regulatory efforts throughout 2024.

In terms of recent achievements, AIM announced promising new data on Ampligen's anti-tumor capabilities when used in combination therapy for melanoma treatment. The results were published in the peer-reviewed journal "Vaccines" under the title "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." Additionally, the company released several CEO Corner segments to keep stakeholders informed about ongoing programs and developments.

Financially, AIM reported cash, cash equivalents, and marketable securities totaling $10.1 million as of June 30, 2024. Research and development expenses for the three-month period ending June 30, 2024, were $1.1 million, a significant reduction from $3.0 million during the same period in 2023. For the six months ending June 30, 2024, these expenses were $3.1 million compared to $5.0 million for the first half of 2023.

General and administrative expenses remained constant at $2.6 million for the three months ending June 30, 2024, the same amount as the previous year. However, for the six months ending June 30, 2024, these expenses rose to $6.4 million from $4.8 million in the same period in 2023.

The net loss from operations for the three months ending June 30, 2024, was reported at $1.8 million, or $0.03 per share, compared to a net loss of $4.9 million, or $0.10 per share, for the same period in 2023. For the first half of 2024, the net loss was $7.7 million, or $0.15 per share, down from $8.6 million, or $0.18 per share, in the first six months of 2023.

AIM plans to discuss these financial results, along with operational highlights, during its conference call and webcast. The call will feature AIM's CEO Thomas K. Equels and Scientific Officer Christopher McAleer, PhD. The event is accessible to participants by dialing specific phone numbers for domestic and international callers and will also be available as a webcast on AIM's website, where it will be archived for 90 days.

AIM ImmunoTech Inc. is an immuno-pharma company dedicated to developing therapies for various cancers, immune disorders, and viral diseases, including COVID-19. Their leading product, Ampligen, is a first-in-class investigational drug that functions as an immuno-modulator with broad-spectrum activity in clinical trials. The company remains committed to advancing its research and bringing new treatments to market.