In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Anixa Biosciences (ANIX – Research Report), with a price target of $12.00.
Yi Chen has given Anixa Biosciences a Buy rating, taking into account several key developments in the company’s pursuit of innovative cancer treatments. Firstly, the European Patent Office’s intention to grant a patent for Anixa’s ovarian cancer vaccine technology, which complements an already issued U.S. patent, significantly strengthens the company’s intellectual property position in a potentially lucrative market. This vaccine targets a specific receptor re-expressed in the majority of ovarian cancers, which could offer a novel approach in the fight against this disease. Anixa’s exclusive licensing from Cleveland Clinic and ongoing preclinical support from the National Cancer Institute underscore the potential of this vaccine.
Furthermore, positive preliminary safety data from Anixa’s Phase 1 CAR-T therapy trial in ovarian cancer, conducted at Moffitt Cancer Center, reinforces the optimism surrounding the company’s therapeutic pipeline. The absence of dose-limiting toxicities in the first patient cohort and the planned escalation of dosage in the next phase are promising indicators of the therapy’s safety profile. The targeted nature of the therapy, aiming at receptors expressed exclusively on ovarian cells, suggests a reduced likelihood of adverse effects on healthy cells. These factors collectively contribute to Chen’s Buy rating and a bullish outlook on Anixa Biosciences.
According to TipRanks, Chen is an analyst with an average return of -33.5% and a 21.38% success rate. Chen covers the Healthcare sector, focusing on stocks such as Anixa Biosciences, Icecure Medical, and Ocular Therapeutix.
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Anixa Biosciences (ANIX) Company Description:
Anixa Biosciences, Inc. is a cancer-focused biotechnology company, which focuses on harnessing the body’s immune system in the fight against cancer. It operates through the following segments: Cancer Diagnostics, Cancer Therapeutics, and Legacy Patent Licensing Activities. Cancer Diagnostic segment develops CchekTM platform, a series of inexpensive non-invasive blood tests for the early detection of solid tumors, which is based on the body’s immune response to the presence of a malignancy. Cancer Therapeutics segment offers chimeric antigen receptor T-cell (CAR-T) based immuno-therapy drugs which genetically engineer a patient’s own immune cells to fight cancer. The company was founded on November 5, 1982 and is headquartered San Jose, CA.
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