H.C. Wainwright Reiterates Buy Rating on Anixa Biosciences (ANIX)

H.C. Wainwright analyst Yi Chen reiterated a Buy rating and $7.00 price target on Anixa Biosciences (NASDAQ: ANIX).

The analyst commented: "Earlier this week, Anixa Biosciences announced that it had completed dosing of the 4th cohort in the ongoing Phase 1 trial of its CAR-T therapy in recurrent ovarian cancer. In the 4th cohort, subjects received 3x106 cells/kg of body weight. Of note, no dose-limiting toxicities (DLTs) have been observed to date in the cohort. Several treated patients remain alive beyond disease-specific median survival benchmarks. Notably, one patient from the 1st cohort (1x105 cells/kg) remains alive 28 months post-treatment. Management expects to start the 5th cohort (1x107 cells/kg) following a routine 30-day safety verification that no adverse effects have been observed in the 4th cohort. In our view, the company may continue to increase dosage in subsequent cohorts if no DLTs are observed. The study is being conducted in partnership with Moffitt Cancer Center. We reiterate our Buy rating and $7 price target."

For an analyst ratings summary and ratings history on Anixa Biosciences click here. For more ratings news on Anixa Biosciences click here.

Shares of Anixa Biosciences closed at $3.02 yesterday.

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