SAN JOSE, Calif. - Anixa Biosciences, Inc. (NASDAQ: NASDAQ:ANIX), a biotechnology firm, announced today the treatment of the sixth patient in its Phase 1 CAR-T cell therapy trial for ovarian cancer. This marks the completion of the second dosage cohort, with plans to initiate the third, at a tenfold increased dose, pending continued absence of adverse effects.
The trial, a collaboration with Moffitt Cancer Center, employs Anixa's chimeric endocrine receptor T-cell (CER-T) technology, targeting the follicle-stimulating hormone receptor (FSHR) found on ovarian cancer cells. The therapy is being tested in women with recurrent ovarian cancer who have undergone at least two prior treatments.
The initial cohort demonstrated safety at a subtherapeutic dose, with one patient responding notably. The second cohort received a tripled dose without dose-limiting toxicities. The upcoming third cohort will receive an even higher dosage, with the aim to further evaluate safety and efficacy.
Dr. Amit Kumar, CEO of Anixa, expressed optimism about the therapy's safety profile and its potential efficacy in solid tumors, a challenge for conventional CAR-T therapies. Anixa's CER-T approach targets both the tumor vasculature and the ovarian cells directly.
Moreover, the intraperitoneal (IP) delivery method is highlighted as a significant advantage, potentially allowing for higher dosages and minimizing side effects like cytokine release syndrome (CRS), by enabling direct trafficking of CAR-T cells to tumor sites.
Anixa specializes in cancer treatment and prevention, with a portfolio including vaccines in development for breast and ovarian cancer. The company's business model involves partnerships with research institutions to advance and commercialize emerging technologies.
This update on the clinical trial is based on a press release statement from Anixa Biosciences. The company's forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations.
In other recent news, Anixa Biosciences reported its financial results for the second fiscal quarter of 2024, ending April 30, with a net loss of $3.1 million. Despite the loss, the company's financial position, backed by a reserve of $23.2 million in cash and short-term investments, allows it to maintain operations for over two years without additional funding.
H.C. Wainwright has adjusted its outlook on Anixa Biosciences, reducing the 12-month price target to $7.00 from $12.00, but maintaining a Buy rating. The firm's revised price target is based on these financial results and a new partnership with Cleveland Clinic to develop cancer vaccines.
In collaboration with Moffitt Cancer Center, Anixa has begun treating the fifth patient in its Phase 1 clinical trial for a novel CAR-T therapy for ovarian cancer. The therapy, which targets the follicle-stimulating hormone receptor on ovarian cells, is reported to be safe and well-tolerated.
Further, Anixa has announced a joint development agreement with Cleveland Clinic to create new vaccines targeting various cancer types, building on ongoing clinical trials for a vaccine against triple-negative breast cancer and pre-clinical work on an ovarian cancer vaccine.
Dr. Sanjay Juneja, a renowned medical oncologist, has recently joined Anixa's Cancer Business Advisory Board. His appointment is expected to increase awareness and recruitment for Anixa's clinical trials. These recent developments highlight Anixa Biosciences' commitment to cancer treatment and prevention through strategic partnerships and advisory appointments.
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