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Why AIM ImmunoTech Inc. (AIM) stock is rising in the Pre-Market?

AIM ImmunoTech Inc. (AIM) stock rose in the pre-market after it announced positive progress on requested FDA meeting for Ampligen Clinical Trial in Post-COVID-19 Cognitive Dysfunction. The AIM stock price saw a push of 3.03% to reach $2.04 a share at the time of this writing. The stock was declining in the previous trade and went low by 2.94% at closing. Let’s dig in to explore more of it.

AIM ImmunoTech Inc is the immuno-pharma stock that focuses on the research and development of therapeutics for the treatment of cancers, viruses, and immune deficiency disorders in the U.S.

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What’s Happening?

AIM ImmunoTech today reported positive progress with its meeting request to the United States Food and Drug Administration that concerns with Phase 2 clinical study of Ampligen as an infusion therapy for Post-COVID-19 Cognitive Dysfunction (PCCD). The purpose of the planned phase 2 study is to evaluate the efficacy as well as safety of Ampligen in PCCD patients. Eighty participants of the study will receive twice infusions of Ampligen on weekly basis. This process will continue for 12 weeks. NSF International company and Amarex Clinical Research have the responsibility to manage the clinical trial.

AIM stock provided update of Phase 2a Human Challenge Trial:

On September 20, 2021, AIM stock did provide the update on its Phase 2a Human Challenge Trial. In this trial, the company is testing its drug Ampligen as a potential intranasal prophylactic therapy via the use of human rhinovirus and influenza A virus. AIM has submitted the proposed protocol for the study to the Oxford Research Ethics Committee (REC)/Medicines and Healthcare Regulatory Agency. The meeting to review the study will be on September 24 for the response which AIM stock expects in the mid of November.

Financial View of AIM stock:

AIM ImmunoTech did announce second-quarter 2021 financial results on August 17, 2021, according to which

AIM ImmunoTech reported $5.9 million or $0.12 per share loss from operation in the reported quarter. The loss from operations for the previous year’s same quarter was $3.4 million, or $0.11 per share.
AIM spent $1.3 million in research and development expenses as compared to $1.5 million in the prior-year same quarter. It spent $2.1 million in general and administrative expenses in the recently reported quarter compared to $1.7 million in Q2,2020.
By the end of the second quarter, AIM stock had $57.3 million in cash, cash equivalents, and marketable securities.

Wrap Up:

The recent announcement has made the AIM stock green today after facing a drop in the previous trading. It lost almost 3% in the last 12 months however it gained 3.66% year to date. Investors need to research a lot before making any decision.