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AIM NYSE AM· AIM ImmunoTech Inc.
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AIM NYSE AM· AIM ImmunoTech Inc.
Earnings report Q3 2023

AIM ImmunoTech Inc. Reports Modest Revenue Growth in Latest Quarter

Segments of revenue

AIM ImmunoTech Inc. generated a total revenue of $46,000 in the latest quarter. This revenue was solely derived from their clinical treatment programs in the United States.

Strengths

AIM ImmunoTech Inc. demonstrated a modest increase in revenue compared to the same quarter last year, where they reported $21,000 in revenue. This growth can be attributed to the success and expansion of their clinical treatment programs in the United States. The management has emphasized their commitment to advancing their immuno-pharma research, which has contributed to the positive revenue trend.

Challenges

Despite the increase in revenue, AIM ImmunoTech Inc. still reported an operating loss of $8,157,000 in the latest quarter. This loss can be attributed to the significant costs and expenses incurred by the company. Production costs amounted to $30,000, research and development expenses totaled $2,734,000, and general and administrative expenses reached $5,439,000. These expenses have put a strain on the company's profitability.

Noteworthy

It is worth mentioning that AIM ImmunoTech Inc. faced legal challenges during the quarter. The company was involved in a lawsuit against BioLife Plasma Services, LP, which resulted in a ruling that denied AIM's motions and granted the defendant's motion to exclude evidence of future loss of profit damages. However, the court allowed AIM's damages theory to proceed on reliance damages. The company sought reconsideration of the ruling, and in September, the court granted the motion, vacated its prior order, and issued a new order and plan for trial.

Summary

AIM ImmunoTech Inc. reported a modest increase in revenue in the latest quarter, primarily driven by their clinical treatment programs in the United States. However, the company continues to face challenges in terms of operating losses and significant expenses. The legal proceedings against BioLife Plasma Services, LP also pose potential risks to the company's financial performance. AIM ImmunoTech Inc. remains focused on advancing their immuno-pharma research and addressing these challenges to improve profitability in the future.

Source documents

Form 10-Q  filed on Nov 14, 2023
241 pages scanned

Reference data

Company financials Q3 revenue 65k
Analyst estimates Q3 EPS beat by 156.55%
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