H.C. Wainwright maintains Buy rating on ANIX, $7 target

Tuesday

H.C. Wainwright has maintained a Buy rating and a $7.00 price target for Anixa Biosciences (NASDAQ:ANIX), following the announcement of a significant advancement in the company’s intellectual property portfolio. The United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for a patent application that covers Anixa’s ovarian cancer vaccine technology.

The patent application includes methods of administering an immunogenic composition that contains a nucleic acid encoding the AMHR2 polypeptide, which is part of human AMHR2, to stimulate an AMHR2-specific immune response. The allowed claims offer extensive protection for the various components and delivery mechanisms of Anixa’s vaccine technology.

Anixa Biosciences is collaborating with Cleveland Clinic and the National Cancer Institute to develop its ovarian cancer vaccine. The issuance of this patent is expected to bolster Anixa’s intellectual property rights and aid the ongoing development of its vaccine program.

The analyst at H.C. Wainwright commented on the development, underscoring the importance of the newly allowed patent in strengthening the company’s position and supporting the continued progress of the vaccine technology.

The reiteration of the Buy rating and the $7 price target by H.C. Wainwright reflects the firm’s positive outlook on Anixa Biosciences’ potential in the biotechnology sector, particularly in the field of cancer vaccine development.

In other recent news, Anixa Biosciences, Inc. announced significant developments in its cancer treatment programs. The company has secured a US patent for its ovarian cancer vaccine technology, which is designed to induce an immune response against the Anti-Mullerian Hormone Receptor, Type II (AMHR2). This patent strengthens Anixa’s intellectual property portfolio and supports ongoing vaccine development efforts in collaboration with the Cleveland Clinic and the National Cancer Institute. Additionally, Anixa, in partnership with Moffitt Cancer Center, has expanded its CAR-T therapy trial for ovarian cancer. The trial now includes a broader range of ovarian cancer histologies and permits a second dose of therapy for patients, potentially increasing its effectiveness. Anixa also reported promising preliminary data from its breast cancer vaccine trial, with over 70% of participants showing immune responses. Furthermore, the company concluded the 2024 fiscal year with $20 million in cash and investments, ensuring over 2.5 years of operational runway. Anixa’s financial stability is bolstered by a clean capital structure, free from warrants, preferred stock, and debt.

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