Aethlon Medical, Inc. (NASDAQ: AEMD) is trading at a share price of $10.79 on Wednesday, jumping up the trampoline 388%. Interestingly the previous close of the stock was $2.21. This company has a market capitalization of $130.90 million. So what’s sending the share price up in the air? There’s historic COVID news coming in from the company.
Aethlon Medical recently announced that two patients who tested positive for the virus were treated with its Hemopurifier, which is the company’s indigenous cartridge designed to filter exosomes and viruses from the blood. The company had shared the news last Thursday, but the shares haven’t stopped ballooning.
The Hemopurifier is seen as a crucial device in pandemic since it is seen as playing a pivotal role in treating highly infectious SARS-CoV-2 virus.
Additionally, the U.S. FDA has designated the same Hemopurifier as a “Breakthrough Device,” which can also cure metastatic cancer. The FDA sees the device through an early feasibility study, news that makes investors excited.