Anixa Biosciences Advances Phase 1 Clinical Trial for Ovarian Cancer Therapy
Anixa Biosciences has entered the next phase of its Phase 1 clinical trial for a cutting-edge ovarian cancer therapy in partnership with the Moffitt Cancer Center. The trial focuses on chimeric antigen receptor T-cell (CAR-T) therapy, specifically designed for patients with recurrent ovarian cancer who have not seen success with previous treatments. The company has now escalated the dosage for the new cohort, with the fourth patient receiving a triple dose of CAR-T cells compared to the initial patients.
Anixa’s therapy targets the Follicle Stimulating Hormone Receptor (FSHR), which is present in ovarian cells and tumor vasculature, allowing for a targeted treatment approach. Dr. Amit Kumar, CEO of Anixa, expressed confidence in the trial’s progress, highlighting the absence of safety concerns in the initial cohort. Dr. Robert Wenham, the trial’s Principal Investigator, emphasized the specificity of the target and the administration method, which could effectively direct the engineered T-cells to tumor sites and reduce potential side effects like cytokine release syndrome.
Using their CAR-T technology, known as CER-T, Anixa utilizes autologous T-cells that are engineered to focus on FSHR, primarily found in ovarian granulosa cells rather than other tissues. This targeted approach aims to minimize off-target effects. Additionally, Anixa is actively developing therapies and vaccines for various cancers, including triple negative breast cancer and ovarian cancer.
Anixa Biosciences currently holds a market capitalization of $143.02 million and a Price to Book (P/B) ratio of 5.88 for the twelve months leading up to Q4 2023, according to InvestingPro Insights. Despite the challenges of profitability in the biotech industry, Anixa maintains a strong financial position with more cash than debt, indicating stability. Although the company is not currently profitable and trades at a high revenue valuation multiple, it has experienced an impressive price total return of 53.92% over the past three months, signaling a growing investor confidence.
Analyst comment
Positive news. Analyst prediction: The market will respond positively to this news as Anixa Biosciences progresses in its Phase 1 clinical trial for ovarian cancer therapy. The increased dosage and targeted approach show promise, and the absence of safety concerns is encouraging. The company’s financial stability and positive price total return also contribute to growing investor confidence.
