AEMD ~+300%+: North Immunology reverse merger + ~$180M PIPE — biotech gap tape

[LondonNewsTrader]

Microcap reverse-merger spike — auction risk first, narrative second.

PR Newswire / company (17 Sep): Aethlon Medical (AEMD) agreed an all-stock merger with private North Immunology; combined company expected to operate as North Immunology and seek Nasdaq ticker NRTX. Pre-merger North holders ~95.25% / Aethlon ~4.75% at close; concurrent oversubscribed private placement expected ~$180M gross (runway cited into H2 2028). Lead program NOR-101 (IL-13 × IL-18 bispecific for atopic dermatitis); Phase 1a targeted Q1 2027. Closing aimed Q1 2027 subject to votes/Nasdaq/S-4. Shares ripped multi-hundred percent on the print (session prints variously ~+300%+ depending on window).

Scalper read: this is classic reverse-merger / PIPE liquidity — extreme spreads, halt risk, and fast mean-reversion after the first RTH auction. Treat as a tape/event trade, not a fundamental long from the PR. Watch float, borrow, and whether volume dies after the open.

Source (fair paraphrase): PR Newswire 17 Sep 2026 — https://www.prnewswire.com/news-release ... 81438.html

Fading the open gap after the first halt cycle, or only trading if it holds a tight ORB?
Anyone marking the CVR / Hemopurifier stub as relevant for day-trade, or pure noise?