In a recent move that signals confidence in the company, Lewis H. Titterton Jr., a director of Anixa Biosciences Inc (NASDAQ:ANIX), has purchased additional shares of the company's stock. The transaction, which took place on June 7, 2024, involved Titterton acquiring 10,738 shares at a price of $2.52 per share, amounting to a total investment of $27,059.
This purchase increases Titterton's holdings in Anixa Biosciences, a company operating in the pharmaceutical preparations industry, to a total of 848,775 shares. The acquisition of shares by a company insider is often regarded by investors as a positive sign, as it may indicate the director's belief in the company's future prospects and commitment to its success.
Anixa Biosciences, which was formerly known as ITUS Corp and COPYTELE Inc, is based in San Jose, California, and focuses on the development of novel treatments and diagnostics in the healthcare sector. The company's fiscal year ends on October 31, and it is incorporated in Delaware.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides the public with insights into the trading activities of a company's directors and senior executives. The disclosure of such transactions is required by federal securities laws and is closely watched by investors seeking to understand the actions of company insiders.
As Titterton holds the position of director at Anixa Biosciences, his recent purchase of shares may be of particular interest to current and potential investors, reflecting an insider's ongoing commitment to the company.
In other recent news, Anixa Biosciences has been actively progressing in its cancer research and treatment initiatives. The company's recent financial report revealed a net loss of $3.1 million for the second fiscal quarter of 2024, which was lower than the anticipated loss of $3.5 million. H.C. Wainwright adjusted its 12-month price target for Anixa Biosciences shares to $7.00, down from $12.00, based on these financial outcomes and a new cancer vaccine development partnership.
Anixa Biosciences has also entered into a collaborative agreement with Cleveland Clinic to develop new vaccines targeting various types of cancer, including potential treatments for lung, colon, and prostate cancers. Concurrently, the company has been treating the fifth patient in its Phase 1 clinical trial for a novel CAR-T therapy for ovarian cancer, in collaboration with Moffitt Cancer Center.
Moreover, Anixa Biosciences has welcomed Dr. Sanjay Juneja, a renowned medical oncologist, to its Cancer Business Advisory Board. His appointment is expected to increase awareness and recruitment for Anixa's clinical trials. These recent developments reflect Anixa Biosciences' ongoing commitment to cancer research and treatment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.