H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Anixa Biosciences today and set a price target of $7.00.
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Yi Chen has given his Buy rating due to a combination of factors surrounding Anixa Biosciences’ recent developments. The company has initiated the transfer of the Investigational New Drug (IND) application for its breast cancer vaccine from the Cleveland Clinic to support an upcoming Phase 2 trial. This follows promising preliminary results from the Phase 1 trial, where over 70% of patients exhibited a protocol-defined immune response, and the vaccine was well tolerated. These advancements indicate significant progress in the clinical development of the vaccine.
Additionally, the issuance of a patent by the United States Patent and Trademark Office (USPTO) further strengthens Anixa’s intellectual property position. The patent, which extends protection into the mid-2040s, covers novel methods of immunizing patients against breast cancer using a composition containing the human α-lactalbumin protein. This development, along with the support from the U.S. Department of Defense and the potential for long-lasting immune protection with minimal off-target effects, underscores the strategic value and potential of Anixa’s breast cancer vaccine program.