Stock Alert: Aethlon Medical Surges After FDA Okays Hemopurifier Testing For COVID-19

(RTTNews) - Shares of Aethlon Medical, Inc. (AEMD) are gaining more than 95 percent or $1.34 in Thursday's morning trade at $2.75.

Thursday, Aethlon Medical said that the FDA has approved a supplement to the company's existing Investigational Device Exemption or IDE for the company's Hemopurifier in viral disease. The approvals allows for the testing of the Hemopurifier in patients with SARS-CoV-2/COVID-19 in a new feasibility study.

The study, which is the device equivalent of a phase 1 trial, will enroll up to 40 subjects at up to 20 centers in the U.S The Aethlon Hemopurifier is a clinical-stage device designed to combat cancer and life-threatening viral infections. It has previously been tested in patients with hepatitis C virus infection and in one patient with Ebola virus infection.

The stock has traded in a range of $0.76 to $9.00 in the past 52 weeks.