AIM ImmunoTech Inc. reported a net loss of $3.3 million for the third quarter of 2025, a slight improvement from the $3.7 million loss recorded in the same period last year. Total revenue for the quarter was $26,000, down from $35,000 in Q3 2024, reflecting the company’s limited commercial activity and the fact that most of its income comes from clinical trial participation fees rather than product sales.
Cash on hand stood at $2.4 million as of September 30 2025, a sharp decline from $7.2 million at the end of 2024. With an operating burn of roughly $9 million for the nine‑month period, the company’s runway is projected to last only a few months unless additional capital is raised. Management has issued a “going‑concern” warning and noted that the company must raise at least $6 million in equity by June 2026 to avoid delisting from the NYSE American exchange.
Research and development expenses fell to $607,000 in Q3 2025, a 57 % reduction from $1.4 million in Q3 2024, while general and administrative costs dropped to $1.8 million from $3.1 million. The cuts were driven by a strategic decision to focus resources on the most promising pipeline candidates and to reduce overhead in light of the cash constraints. The expense reductions helped keep the loss margin from widening further, but the company remains heavily reliant on external funding to sustain its clinical programs.
The company’s flagship Ampligen program showed encouraging mid‑year data from the investigator‑initiated DURIPANC study, which combined Ampligen with the checkpoint inhibitor Imfinzi in patients with metastatic pancreatic cancer. The study reported that 64 % of eligible subjects achieved overall survival beyond six months, a result that management described as “promising” and a potential signal of clinical benefit. However, the study is still early‑stage and the company has not yet secured regulatory approval or commercial launch plans.
CEO Thomas K. Equels emphasized that the company’s focus remains on advancing Ampligen toward FDA approval. He noted that “our clinical, manufacturing and regulatory teams are heavily focused on moving Ampligen down a pathway toward eventual FDA approval as part of a combination therapy for pancreatic cancer.” Equels also acknowledged the financial headwinds, stating that the company is “working to secure additional capital to sustain operations and continue development.”
Investors have responded cautiously, with market participants weighing the positive clinical data against the company’s acute liquidity challenges and the risk of delisting. The overall sentiment reflects uncertainty about whether the company can secure the necessary funding to maintain its pipeline and meet regulatory milestones.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.