This is a purely administrative filing — no new terms. The bearish thesis from the prior S-1/A (dilutive offering, going concern, no revenue) remains unchanged. Monitor for effectiveness and the final pricing of the unit offering, which will be the next catalyst. Given the $2M market cap, any meaningful raise will be significantly dilutive.
Executive Summary
Aethlon Medical filed Amendment No. 2 to its S-1 registration statement solely to include an updated consent from its independent auditor. No substantive changes were made to the prospectus. The company remains pre-revenue, has a going-concern qualification, and is proceeding with a dilutive best-efforts offering of up to 6,000,000 shares and warrants at $2.00 per unit. The filing is a routine administrative step with no new financial or operational information.
Key Financial Metrics
Key Facts
- Amendment No. 2 filed solely to add an updated consent of independent registered public accounting firm (Haskell & White LLP).
- No changes to the preliminary prospectus; maximum offering remains 6,000,000 shares and warrants at $2.00/unit.
- The audit report includes a going-concern emphasis paragraph.
- Company is pre-revenue with a market cap of approximately $2M and has a history of dilutive financing.
- Registration statement on Form S-1/A covering up to 6,000,000 shares of common stock and accompanying warrants.
Financial Impact
Dilutive offering targeting gross proceeds from the unit offering, amount not stated for this amendment; however, prior S-1 target was ~$4M at $0.85/unit. The current offering at $2.00/unit implies proceeds of up to $12M if fully subscribed.
Risk Factors
- Pre-revenue, clinical-stage company with a going-concern qualification.
- Extreme dilution risk from the proposed offering relative to current market cap.
- Nasdaq minimum bid price compliance risk ($0.85-$2.00 units imply a low stock price).
- History of repeated dilutive financings (PIPEs, warrant inducements).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-1/A Filing (Primary) | 0001683168-26-005219 |
| Document: aethlon_ex2301.htm | 0001683168-26-005219 |
| Document: 0001683168-26-005219-index-headers.html | 0001683168-26-005219 |
| Document: 0001683168-26-005219-index.html | 0001683168-26-005219 |
| Document: 0001683168-26-005219.txt | 0001683168-26-005219 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 14d ago | SC 13G | $5.05 $5.07 | ▲ +0.40% | ▼ −0.06% | $5.07 (+0.40%) |
Oct 1, 2026 25d ago | 8-K | $6.45 $6.05 | ▲ +6.20% | ▲ +7.36% | $5.07 (+21.40%) |
Sep 17, 2026 5w ago | 425 | $6.78 $6.77 | ▼ −0.15% | ▼ −0.75% | $5.07 (−25.22%) |
Sep 17, 2026 5w ago | 8-K | $6.78 $6.77 | ▼ −0.15% | ▼ −0.75% | $5.07 (−25.22%) |
Sep 15, 2026 6w ago | 8-K | $1.47 $6.31 | ▲ +329.25% | ▲ +328.43% | $5.07 (+244.90%) |
Sep 4, 2026 7w ago | DEFA14A | $1.81 $1.47 | ▲ +18.78% | ▲ +17.67% | $5.07 (−180.11%) |
Aug 31, 2026 8w ago | 8-K | $2.06 $1.81 | ▼ −12.14% | ▼ −11.99% | $5.07 (+146.12%) |
Aug 13, 2026 10w ago | Press Release | $2.83 $2.73 | ▼ −3.53% | ▼ −2.17% | $5.07 (+79.15%) |
Jul 31, 2026 12w ago | 8-K | $0.6628 $0.6300 | ▲ +4.95% | ▲ +8.46% | $5.07 (−664.94%) |
Jul 7, 2026 16w ago | EFFECT | $0.7297 $0.6850 | ▲ +6.13% | ▲ +6.68% | $5.07 (−594.81%) |
US Market Status
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