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AIM Immunotech trumpets $54.5M in cash on hand, advances its drug Ampligen as cancer, coronavirus treatment

That figure is more than six times the $8.8 million the company had at the end of 2019

Medical stuff
Research and development expenses for the third quarter were $1.1 million, compared to $1.2 million in the same period of 2019

AIM ImmunoTech Inc (NYSEAMERICAN:AIM) had some $54.5 million on hand as of September 30, 2020, the company revealed in a third-quarter business update on Friday.

That figure was more than six times the $8.8 million the company had at the end of 2019.

Research and development expenses for the thitd quarter were $1.1 million, compared to $1.2 million in the same period of 2019. General and administrative expenses were $2.1 million, up from $1.85 million.

READ: AIM ImmunoTech says data validating Ampligen as chronic fatigue treatment published in medical journal, expands study to include coronavirus 'long haulers'

AIM pointed to a trio of recent milestones. On September 22, the company announced statistically significant positive pancreatic cancer survival results from its multi-year Early Access Program conducted at Erasmus University Medical Center in the Netherlands. 

Erasmus found a statistically significantly positive survival benefit when using AIM’s drug Ampligen in patients with locally advanced/metastatic pancreatic cancer after systemic chemotherapy. Median survival was approximately two-fold higher in patients who received AIM’s drug Ampligen compared to the historical controls. 

The company said it intends to facilitate a follow-up pancreatic cancer Phase 2/3 clinical trial based on the data.

On November 2, the company revealed statistically significant findings regarding the impact Ampligen may have on people living with Myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS) when administered in the early stages of the disease. 

Ampligen substantially improved physical performance in a subset of early-onset ME/CFS patients. The findings potentially also carry special importance for survivors of coronavirus (COVID-19), many of whom report classic chronic fatigue-like symptoms after recovering. These patients, known as “long haulers” because of the persistence of these symptoms, are uniquely situated to potentially benefit from Ampligen, the company said.

Also on the coronavirus front, AIM announced in August an effective in vitro model in which Ampligen was shown to decrease SARS-CoV-2 infectious viral yields by 90%.. 

Last month, recruitment began for Roswell Park Comprehensive Cancer Center’s Phase 1/2a COVID-19 clinical study of Ampligen in combination with interferon alpha-2b in treating cancer patients with mild or moderate COVID-19 infection.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: AIM ImmunoTech Inc

Price: 2.02 USD

Market: NYSE
Market Cap: $82.19 m


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