Shares of Aethlon Medical (NASDAQ:AEMD) stock are blasting off on Wednesday after major news emerged from the company last week regarding the fight against the novel coronavirus.
Aethlon Medical shared results last Thursday for two patients with Covid-19 that were treated with the company’s Hemopurifier. According to the release, this is “a cartridge that is designed to filter viruses and exosomes from the blood.” In turn, the patients were treated over a total of nine sessions, and both showed improvements in their condition.
Moreover, the Hemopurifier is designated as a “Breakthrough Device” by the U.S. Food and Drug Administration (FDA) for treating metastatic cancer. Now, the tool is now closely being looked at by the FDA through an early feasibility study.
Charles J. Fisher, Jr., CEO of Aethlon Medical, said this about the AEMD stock news.
“The COVID-19 pandemic has affected the world over, prompting the need for innovative treatment approaches. We believe that the Hemopurifier® is such an innovation, as it is the only known device that can filter out exosomes, which are thought to play a role in the severity of infectious diseases like COVID-19. … These two case studies indicate that the Hemopurifier® was successfully able to clear SARS-CoV-2 virus and associated exosomes from the blood stream, resulting in a potential benefit for one of the critical COVID-19 patients that were treated.”
AEMD stock was up more than 350% as of Wednesday afternoon.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.