Biotech Co. Granted New Patent for Breast Cancer Vaccine
July 29, 2022 (Investorideas.com Newswire) Last Thursday, Anixa Biosciences Inc. announced that the USPTO granted an extension for the firm’s patented breast cancer vaccine technology. H.C. Wainwright & Co. LLC advised that this action strengthens the company’s IP portfolio and therefore it is reiterating its Buy rating on Anixa.
In a July 22 research note, H.C. Wainwright & Co. LLC Healthcare Analysts Yi Chen, Ph.D. CFA and Raghuram Selvaraju, Ph.D. advised that the U.S. Patent and Trademark Office (USPTO) recently issued a Notice of Allowance for clinical-stage biotechnology company Anixa Biosciences Inc. (ANIX: NASDAQ) novel breast cancer vaccine technology.
The new patent is an extension of the patent originally granted patent and it covers additional intellectual property (IP) specifically related to breast cancer vaccine technology. The analysts stated that the awarding of the additional patent strengthens Anixa Biosciences’ overall IP portfolio and commercial prospects for this particular asset.
The report from H.C. Wainwright & Co. indicated that “the novel breast cancer vaccine has the potential to prevent triple-negative breast cancer (TNBC) and other forms of breast cancer that express alpha-lactalbumin.” The research firm noted that in light of this development it is reiterating its Buy rating and $11 price target on the company.
The report mentioned that Anixa Biosciences initiated a Phase 1 multiple-ascending dose (MAD) breast cancer vaccine study at the Cleveland Clinic in October 2021. The trial was designed to enroll 18-24 high-risk patients who had previously undergone treatment for early-stage TNBC within the preceding three years. The trial was structured for participants to receive three vaccinations, two weeks apart, in order to ascertain the Maximum Tolerated Dose (MTD). H.C. Wainwright said that it expects the data from the vaccine study to be available in H2/22.
The analysts remarked, “We believe this large molecule prophylactic vaccine has the potential to train the immune system to target retired tissue-specific protein ?-lactalbumin-referred to as a “retired” self-antigen-localized to TNBC tumor cells.”
Anixa is a clinical-stage biotechnology company based in San Jose, Calif. The firm is currently developing several research and clinical programs focused on cancer and infectious diseases.
H.C. Wainwright & Co. advised that it is reiterating its Buy rating and $11.00 price target on Anixa Biosciences. The firm indicated that it arrived at its 12-month target price based upon an estimated total market value for Anixa of $363M (million) and projections for 32.6M common shares outstanding at the end of Q3/23.
Anixa Biosciences Inc. shares trade on the Nasdaq Exchange under the symbol “ANIX” and last closed for trading at $3.28 on Tuesday, July 26, 2022. The company has approximately 30.47M shares outstanding and a market cap of around $102.99M.
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Disclosures for H.C. Wainwright & Co., Anixa Biosciences Inc., July 22, 2022
H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Yi Chen, Ph.D. CFA and Raghuram Selvaraju, Ph.D. , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.
None of the research analysts or the research analyst’s household has a financial interest in the securities of Anixa Biosciences, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of June 30, 2022 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Anixa Biosciences, Inc..
Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services.
The firm or its affiliates received compensation from Anixa Biosciences, Inc. for non-investment banking services in the previous 12 months.
The Firm or its affiliates did not receive compensation from Anixa Biosciences, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.
The Firm does not make a market in Anixa Biosciences, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited.
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