SAN JOSE, Calif. - Anixa Biosciences, Inc. (NASDAQ: NASDAQ:ANIX), a clinical-stage biotechnology company, has begun treating the fifth patient in its Phase 1 clinical trial for a novel CAR-T therapy aimed at ovarian cancer, the company announced today. Conducted in collaboration with Moffitt Cancer Center, the trial is part of Anixa's efforts to develop effective treatments for cancer.
The trial, first-in-human (NCT05316129), is recruiting adult women with recurrent ovarian cancer that has not responded to at least two previous therapies. The initial three patients confirmed the safety of the therapy, and the fifth patient is now receiving a tripled dose of the engineered T-cells. The therapy targets the follicle stimulating hormone receptor (FSHR), which is found on ovarian cells.
Dr. Amit Kumar, Chairman and CEO of Anixa, stated that the trial is progressing well and that the therapy appears to be safe and well-tolerated. He emphasized that their CAR-T therapy is unique because it targets FSHR, a receptor expressed exclusively on ovarian cells in healthy adult females. This specificity is intended to address the challenges faced by traditional CAR-T therapies in treating solid ovarian tumors.
The technology behind Anixa's CAR-T approach was developed by Dr. Jose R. Conejo-Garcia of Duke University School of Medicine and is exclusively licensed to Anixa by The Wistar Institute. Known as CER-T (chimeric endocrine receptor T-cell) therapy, it involves autologous cell therapy with engineered T-cells targeting FSHR.
Anixa's therapeutic portfolio includes a range of immunotherapy programs and vaccines aimed at preventing and treating various forms of cancer. The company partners with research institutions like Moffitt Cancer Center and Cleveland Clinic to develop its technologies.
This announcement is based on a press release statement and reflects the company's current expectations. It should be noted that forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors that may cause actual results to differ materially. Anixa does not undertake any obligation to update or revise any forward-looking statements.
InvestingPro Insights
Anixa Biosciences, Inc. (NASDAQ: ANIX), in its stride toward innovative cancer treatments, has shown a commitment to research and development, as evidenced by the ongoing Phase 1 clinical trial for its CAR-T therapy. As investors consider the potential impact of these developments on the company's financial health and stock performance, certain metrics and insights from InvestingPro become pertinent.
As of the last twelve months leading into Q1 2024, Anixa has a market capitalization of approximately $90.6 million. This valuation reflects investors' collective assessment of the company's worth, taking into account its scientific advancements and market position.
Despite the company's focus on cutting-edge cancer therapies, Anixa's price-to-earnings (P/E) ratio stands at -8.43, indicating that the company is not currently profitable. The negative P/E ratio aligns with the InvestingPro Tip that analysts do not anticipate the company will be profitable this year. Moreover, Anixa's price-to-book ratio is 3.68, which could suggest that the market values the company's assets favorably in relation to its equity.
It is worth noting that Anixa has been trading near its 52-week low, which may capture investor sentiment and market fluctuations surrounding the biotech industry as a whole. This is corroborated by the InvestingPro Tip that the company is trading at a high revenue valuation multiple, implying that investors may be pricing in the potential for future growth and success of Anixa's therapies despite the current lack of profitability.
For those interested in further insights and metrics, InvestingPro offers additional tips on Anixa Biosciences, which could provide a more nuanced understanding of the company's financial position and future prospects. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable resources.
While Anixa continues to innovate in the oncology space, investors and stakeholders can stay informed on the company's financial health and stock performance through the real-time data and analysis provided by InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.