AIM ImmunoTech Provides First Quarter 2021 Business Update

Rhea-AI Summary

AIM ImmunoTech Inc. (NYSE American: AIM) reported its financial results for Q1 2021, highlighting a cash position of $63.6 million, up from $54.4 million at year-end 2020. Research and development expenses increased to $1.4 million from $0.9 million year-over-year, while general and administrative expenses decreased slightly to $2.1 million. The net loss improved to $3.6 million or $0.08 per share, compared to $3.8 million or $0.22 per share last year. CEO Thomas K. Equels emphasized advancements in clinical programs targeting cancer and viral diseases, including COVID-19.

Positive

• Increased cash and cash equivalents to $63.6 million from $54.4 million.
• Improved net loss of $3.6 million compared to $3.8 million the previous year.

Negative

• Research and development expenses rose to $1.4 million, indicating higher spending.

OCALA, Fla., May 18, 2021 (GLOBE NEWSWIRE) -- AIM ImmunoTech Inc. (NYSE American: AIM) announces financial results for the first quarter ended March 31, 2021.   

• As of March 31, 2021, AIM had cash, cash equivalents and marketable securities of $63.6 million, compared to $54.4 million as of December 31, 2020.
  
  
• Research and development expenses for the three months ended March 31, 2021 were $1.4 million, compared to $0.9 million for the three months ended March 31, 2020.
  
  
• General and administrative expenses for the three months ended March 31, 2021 were $2.1 million, compared to $2.3 million for the three months ended March 31, 2020.
  
  
• The net loss from operations for the three months ended March 31, 2021 was $3.6 million, or $0.08 per share, compared to $3.8 million, or $0.22 per share, for the three months ended March 31, 2020.
  

“I’m extremely proud of the progress we have made throughout the first quarter,” commented Thomas K. Equels, CEO of AIM ImmunoTech. “We have established a strong foundation of pre-clinical and clinical data with respect to the development of therapeutics aimed to treat multiple types of cancers, immune disorders, and viral diseases, including COVID-19. With our solid financial standing, we intend to execute on our corporate strategy and aggressively move forward with our clinical programs that address critical unmet medical needs. We have reached many important milestones, are encouraged by the outlook for AIM and look forward to providing meaningful updates along the way.”

Please refer to the full 10-Q for complete details. Additionally, please refer to AIM’s most recent Company Presentation for updates on ongoing clinical studies.

About AIM ImmunoTech Inc.

AIM ImmunoTech Inc. is an immuno-pharma company focused on the research and development of
therapeutics to treat multiple types of cancers, immune disorders, and viral diseases, including COVID-19, the disease caused by the SARS-CoV-2 virus.

Investor Relations Contact:
Crescendo Communications, LLC
Phone: 212-671-1021
Email: aim@crescendo-ir.com

AIM ImmunoTech Inc
Phone: 800-778-4042
Email: IR@aimimmuno.com

FAQ

What are AIM ImmunoTech's Q1 2021 financial results?

AIM ImmunoTech reported a net loss of $3.6 million, an increase in cash to $63.6 million, and rising research expenses at $1.4 million for Q1 2021.

How did AIM ImmunoTech's expenses change in Q1 2021?

Research and development expenses rose from $0.9 million in Q1 2020 to $1.4 million in Q1 2021, while general and administrative expenses decreased slightly.

What is AIM ImmunoTech's cash position as of March 31, 2021?

As of March 31, 2021, AIM ImmunoTech had cash, cash equivalents, and marketable securities totaling $63.6 million.

What was AIM ImmunoTech's net loss per share for Q1 2021?

AIM ImmunoTech reported a net loss of $0.08 per share for Q1 2021, an improvement from $0.22 per share in Q1 2020.