On May 16, 2024 AIM ImmunoTech Inc. (NYSE American: AIM) ("AIM" or the "Company") reported its financial results for the first quarter 2024 (Press release, AIM ImmunoTech, MAY 16, 2024, View Source [SID1234643384]). As previously announced, the Company will host a conference call and webcast today, Thursday, May 16, 2024, at 8:30 AM ET (details below).
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"AIM is making fundamental progress across our clinical development programs and continues to be encouraged by Ampligen’s potential. We recently reported encouraging top-line data across our pipeline. We also recently completed cGMP manufacturing of 9,000 vials of Ampligen. Both of these successes are extremely important as we seek commercial partners. We remain focused on the continued execution of our operational, clinical and regulatory initiatives and seek to generate – through such progress – a basis for increased stockholder value," commented AIM Chief Executive Officer Thomas K. Equels.
Recent Highlights
Completed cGMP manufacturing of clinical vials of Ampligen
Announced first dose level is generally well-tolerated in Phase 1b/2 study of Ampligen and Imfinzi as a combination therapy for late-stage pancreatic cancer
Announced appointment of Charles Lapp, MD as a Consulting Medical Officer for AIM’s ME/CFS and Long COVID programs
Reported positive top-line, protocol-planned interim report data from the study of Ampligen combined with pembrolizumab for the treatment of recurrent ovarian cancer:
In the ongoing, investigator-initiated Phase 2, single-arm efficacy/safety trial, University of Pittsburgh Medical Center researchers saw an Objective Response Rate of 45% when combining Ampligen, pembrolizumab and cisplatin in platinum-sensitive subjects with recurrent ovarian cancer. Objective Response Rate includes complete response and partial response to treatment. There was a total Clinical Benefit Rate of 55% when including patients who experienced stable disease. Researchers also reported a median Progression-Free Survival of 7.8 months.
Released multiple CEO Corner segments highlighting Company news and clinical programs
Expected Upcoming Pipeline Milestones
Q2 2024
Final dataset for Post-COVID Conditions (AMP-518)
2024
Locally Advanced Pancreatic Adenocarcinoma (AMP-270) – First Subject Dosed
Publications of data in scientific journals
Summary of Financial Highlights for First Quarter 2024
As of March 31, 2024, AIM reported cash, cash equivalents and marketable securities of $10.9 million.
Research and development expenses for the three months ended March 31, 2024, were $2.0 million, compared to $2.1 million for the same period in 2023.
General and administrative expenses were $3.8 million for the three months ended March 31, 2024, compared to $2.3 million for the same period 2023.
The net loss from operations for the three months March 31, 2024, was $5.8 million, or $0.12 per share, compared to $3.7 million, or $0.08 per share, for the three months ended March 31, 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 Q1 2024 operational and financial results today, May 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.