On February 12, 2024, Anixa Biosciences, a pioneering biotechnology company, commenced treatment for the fourth participant in their groundbreaking Phase 1 clinical trial for a revolutionary chimeric antigen receptor T-cell (CAR-T) therapy aimed at combating ovarian cancer. This momentous occasion signifies the initiation of dosing for the second group of patients enrolled in the trial. The esteemed Moffitt Cancer Center is collaborating with Anixa in conducting this momentous study.
Distinguished by its distinctive approach, Anixa’s therapy employs a cutting-edge CAR-T technique called chimeric endocrine receptor T-cell (CER-T). The therapy specifically targets the follicle stimulating hormone receptor (FSHR), a protein exclusively found on the granulosa cells of the ovaries. By exclusively targeting this receptor, Anixa’s therapy aims to overcome the inherent challenges faced by traditional CAR-T therapies when treating solid tumors like ovarian cancer.
The Phase 1 trial primarily focuses on dose escalation and the evaluation of safety, while also assessing preliminary clinical activity. In the initial phase, the first three patients received identical doses of genetically engineered T-cells. Assuming the safety of the therapy was confirmed in the third patient, as it was for the first two patients, Anixa has now commenced treatment for the second cohort. Notably, the second cohort will receive a cell dose approximately three times greater than that administered to the first cohort.
ANIX Stock Shows Positive Price Momentum with Potential for Further Growth
On February 12, 2024, Anixa Biosciences Inc. (ANIX) exhibited positive price momentum. The stock was trading in the middle of its 52-week range and above its 200-day simple moving average. ANIX shares experienced a price increase of $0.03 since the market closed on the previous day, representing a rise of 0.67%. The stock closed at $4.51, and the subsequent pre-market trading saw a further increase of $0.08, bringing the price to $4.59. The fact that ANIX is trading in the middle of its 52-week range suggests stability and potential for further growth. Additionally, trading above its 200-day simple moving average is a positive sign. The $0.03 increase in ANIX shares since the previous market close signifies a modest but positive uptick in value. Moreover, the pre-market trading activity further reinforces the positive momentum for ANIX. Investors should keep an eye on ANIX stock as it continues to demonstrate positive price momentum. However, it is important to conduct thorough research and consider other factors before making any investment decisions.
ANIX Financial Performance: Net Income, EPS, and Stock Evaluation for 2023
ANIX’s net income for the past year was reported at -$9.81 million, showing a 27.83% increase compared to the previous year. However, in the most recent quarter, ANIX’s net income stood at -$2.69 million, reflecting a 7.13% decrease compared to the previous quarter. Looking at ANIX’s earnings per share (EPS), we find that it was -$0.32 for the past year, which represents a 29.24% improvement from the previous year. In the most recent quarter, the EPS remained unchanged at -$0.09. While the available data provides some insights into ANIX’s financial performance, it is important to note that the absence of total revenue information limits our ability to fully assess the company’s overall financial health. Investors and analysts should consider these factors when evaluating ANIX’s stock performances on February 12, 2024. It is essential to monitor ANIX’s financial reports closely to gather more comprehensive and up-to-date information on the company’s revenue, expenses, and overall profitability. This will enable a more accurate assessment of ANIX’s financial performance and its potential impact on the stock’s value.
