News
AIM ImmunoTech Reports Q1 2024 Financial Results and Provides Corporate Update
AIM ImmunoTech Inc.
Continued execution of Ampligen® clinical development programs and growing pool of positive data across multiple high-value indications
Company will hold conference call and webcast today, May 16, at 8:30 am ET
OCALA, Fla., May 16, 2024 (GLOBE NEWSWIRE) – AIM ImmunoTech Inc. (American NYSE: AIM) (“AIM” or the “Company”) today reported its first quarter 2024 financial results. As previously announced, the Company will host a conference call and webcast today, Thursday, May 16, 2024, at 8:30 a.m. ET (details below ).
“AIM is making fundamental progress in our clinical development programs and continues to be encouraged by the potential of Ampligen. We recently reported encouraging top-line data on our pipeline. We also recently completed cGMP manufacturing of 9,000 vials of Ampligen. Both successes are extremely important when searching for business partners. We remain focused on the ongoing execution of our operational, clinical and regulatory initiatives and seek to generate – through this progress – a foundation for increasing shareholder value,” commented AIM CEO Thomas K. Equels.
Recent highlights
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cGMP Manufacturing of Ampligen Clinical Vials Completed
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The first advertised dose level is generally well tolerated in Phase 1b/2 Study of Ampligen and Imfinzi as Combination Therapy for Advanced-Stage Pancreatic Cancer
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Announced the appointment of Charles Lapp, MD as Medical Advisor for AIM’s ME/CFS and Long COVID programs
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Reported positive data from protocol-planned and top-line interim report from the study of Ampligen combined with pembrolizumab for the treatment of recurrent ovarian cancer:
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In the investigator-initiated, single-arm, phase 2 efficacy/safety study, researchers at the University of Pittsburgh Medical Center observed a 45% objective response rate when combining Ampligen, pembrolizumab, and cisplatin in platinum-sensitive subjects with cancer of recurrent ovary. The objective response rate includes complete response and partial response to treatment. There was a 55% overall clinical benefit rate when including patients who had stable disease. The researchers also reported a median progression-free survival of 7.8 months.
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Released several CEO’s Corner segments highlighting company news and clinical programs
Next expected pipeline milestones
2nd quarter of 2024
2024
First Quarter 2024 Financial Highlights Summary
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As of March 31, 2024, AIM reported cash, cash equivalents and marketable securities of US$10.9 million.
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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.
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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 in 2023.
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Net loss from operations for the three months to March 31, 2024 was $5.8 million, or $0.12 per share, compared to $3.7 million, or $0.08 per share , in the three months ending March 31, 2023.
The story continues
See the full 10-Q for complete details.
Conference call and webcast details
As previously announced, the Company will hold an event conference call and webcast to discuss the company’s first quarter 2024 operating and financial results today, May 16, 2024, at 8:30 a.m. ET.
The conference call will be hosted by members of the AIM leadership team, Thomas K. Equels, CEO, and Christopher McAleer, PhD, Chief Scientific Officer. Interested participants and investors may access the conference call by calling (877) 407-9219 (domestic) or (201) 689-8852 (international) and referencing the AIM ImmunoTech conference call. O webcast will be accessible on Events page of Investors section of the Company’s website, aimimuno.comand will be archived for 90 days after the live event.
About AIM ImmunoTech Inc.
AIM ImmunoTech Inc. is an immunopharmaceutical company focused on the research and development of therapies to treat various types of cancer, immune disorders and viral diseases, including COVID-19. The company’s lead product is a first-in-class investigational medicine called Ampligen® (rintatolimod), a highly selective dsRNA and TLR3 agonist immunomodulator with broad-spectrum activity in clinical trials for cancers, viral diseases and immune system disorders of global importance. .
For more information please visit aimimuno.com and connect with the company at X, LinkedInIt is Facebook.
Warning 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”, “next” and other similar variations and expressions (as well as other words or expressions that reference future events or circumstances) are intended to identify forward-looking statements. Many of these forward-looking statements involve a number of risks and uncertainties. The Company urges investors to specifically consider 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 Securities and Exchange Commission. US Furniture. . 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 these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the PSLRA. The Company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances occurring after the date hereof.
CONTACT: Investor Contact: JTC Team, LLC Jenene Thomas (833) 475-8247 AIM@jtcir.com
