Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on Anixa Biosciences (ANIX – Research Report) and keeping the price target at $7.00.
Yi Chen has given his Buy rating due to a combination of factors including recent developments in Anixa Biosciences’ intellectual property and clinical trial advancements. The United States Patent and Trademark Office has allowed a patent application for Anixa’s ovarian cancer vaccine, which strengthens the company’s intellectual property portfolio and supports the ongoing development of their vaccine program. This patent approval is significant as it covers methods of administering an immunogenic composition that targets the AMHR2 polypeptide, potentially enhancing the vaccine’s effectiveness.
Furthermore, Anixa’s collaboration with Moffitt Cancer Center has led to an amendment in the protocol of their Phase 1 trial for CAR-T therapy in ovarian cancer. This amendment allows for a second dose of the therapy and expands eligibility to include additional rare ovarian cancer types, potentially improving clinical outcomes. Financially, Anixa maintains a cash runway of approximately two years, with a valuation based on a discounted cash flow analysis of their breast cancer vaccine and CAR-T therapy. Despite risks such as clinical trial failures and market competition, the potential for significant advancements in their therapeutic offerings supports the Buy rating.
In another report released on March 21, Maxim Group also initiated coverage with a Buy rating on the stock with a $10.00 price target.