Shares of Aethlon Medical Inc. AEMD, +392.76% skyrocketed more than fourfold on massive volume toward a two-year high in morning trading Wednesday, even though the California-based therapeutic technology company hasn’t released any news in nearly a week. On June 3, the company pointed out a “pre-print manuscript” that has not yet completed peer review that was published in “Research Square,” highlighting case studies of two critically ill COVID-19 patients who were given access to the company’s Hemopurifier through Emergency Use. “Case studies demonstrate the successful removal of viral-associated exosomes in first patient and a 58% decrease of plasma SARS-CoV-2 viral load in second patient,” the company stated. The stock shot up 341.2%, putting it on track for the highest close since May 2019, and enough to pace all gainers listed on major U.S. exchanges. Trading volume ballooned to 93.1 million shares, compared with the full-day average over the past 30 days of about 827,000 shares, according to FactSet. The latest available data show that short interest has been declining over the past several months and recently represented 1.98% of the public float. The company is projected to report fiscal fourth-quarter results on or about June 30. The stock has now gained 294.7% year to date, while the iShares Nasdaq Biotechnology ETF IBB, +1.35% has edged up 6.2% and the S&P 500 SPX, +0.18% has tacked on 12.6%.
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