Anixa Biosciences Inc

Anixa Biosciences, Inc. (NASDAQ: ANIX) is a biotechnology company developing vaccines and therapies that are focused on critical unmet needs in oncology. Its segments include CAR-T Therapeutics, Cancer Vaccines, Anti-Viral Therapeutics and Other. Its vaccine programs include the development of a preventative vaccine against triple negative breast cancer (TNBC), the most lethal form of breast cancer, as well as other forms of breast cancer and the development of a preventative vaccine against ovarian cancer.

Key Business Highlights:

• Anixa Biosciences Advances Ovarian Cancer CAR-T Clinical Trial: Anixa Biosciences has initiated dosing for the fourth patient in the Phase 1 clinical trial of its chimeric antigen receptor T-cell (CAR-T) therapy for ovarian cancer. Conducted in collaboration with Moffitt Cancer Center, the study targets patients with recurrent/resistant ovarian cancer. The CAR T, known as chimeric endocrine receptor T-cell (CER-T), focuses on the Follicle Stimulating Hormone Receptor (FSHR), expressed on ovarian cells and tumor vasculature. The fourth patient in the second cohort received triple the CAR-T cell dose, following the safety and tolerability demonstrated in the initial three patients.
• Anixa Biosciences Secures Japanese Patent for Ovarian Cancer Vaccine Technology: Anixa Biosciences announces the issuance of a Japanese patent for its ovarian cancer vaccine technology, developed in collaboration with Cleveland Clinic. The patent, titled "Ovarian Cancer Vaccines," is based on pre-clinical studies demonstrating the efficacy of vaccinating against the extracellular domain of anti-Müllerian hormone receptor II (AMHR2-ED). Results indicate that this approach could provide safe and effective preemptive immunity against epithelial ovarian carcinoma, the most common form of ovarian cancer.
• Positive Data Emerges from Anixa Biosciences' Breast Cancer Vaccine Phase 1 Study: Anixa Biosciences and Cleveland Clinic present encouraging results from the Phase 1 clinical trial of their breast cancer vaccine. Conducted with U.S. Department of Defense funding, the trial involved patients with triple-negative breast cancer (TNBC) and those at high genetic risk. The majority of patients developed T-cell immune responses, and a statistically significant increase in IFNγ and IL-17, indicative of T cell activation, was observed. The vaccine demonstrated safety and tolerability at the maximum tolerated dose, with plans for further investigation in additional patient cohorts, including those with residual disease and high-risk genetic profiles.

Technical Observation (on the daily chart)

The Relative Strength Index (RSI), calculated over a 14-day span, stands at 33.59, currently falling, signifying the likelihood of more consolidation or further correction to next important support levels of around USD 2.50- USD 2.80. Adding to this, the stock presently finds itself positioned below both the 21-day and 50-day Simple Moving Averages (SMA), which could function as a dynamic short-term resistance levels.

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing. 

How to Read the Charts?

The yellow colour line reflects the 21-period simple moving average (SMA) while the blue line indicates the 50- period simple moving average (SMA). SMA helps to identify existing price trends. If the prices are trading above the 21-period and 50-period moving average, then it shows prices are currently trading in a bullish trend.

The orange colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period) which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status while a reading of 30 or below suggests an oversold status.

The red and green colour bars in the chart’s lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volume as liquidity in stocks helps with easier and faster execution of the order.

The Orange colour lines are the trend lines drawn by connecting two or more price points and used for trend identification purposes. The trend line also acts as a line of support and resistance.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock. 

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices. 

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

RSI: Relative Strength Index

USD: United States dollar

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is March 08, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.