The acquisition reflects Kumar’s continued investment in Anixa Biosciences (NASDAQ: ), a pharmaceutical company. The transaction was completed on January 15, 2025. With a market capitalization of $71.8 million and a financial health rating of “Fair” by InvestingProthe company maintains a strong balance sheet with more cash than debt. Discover 8 additional key insights about ANIX with a subscription to InvestingPro. With a market capitalization of $71.8 million and a financial health rating of “decent.” InvestingProthe company maintains a strong balance sheet with more cash than debt. Discover 8 additional key insights about ANIX with a subscription to InvestingPro.
The acquisition reflects Kumar’s continued investment in Anixa Biosciences, a pharmaceutical company. The transaction was completed on January 15, 2025.
In other recent news, Anixa Biosciences has made significant progress in cancer research and financial ventures. The biotech company reported a net loss of $3.1 million for the second fiscal quarter of 2024, which was less than the forecast loss of $3.5 million. In an attempt to diversify its treasury, the company’s board of directors approved an investment in , a move linked to its strong balance sheet and excess cash.
Anixa Biosciences also made significant progress in its clinical trials, successfully dosing the first patient in the third cohort of their Phase I trial of CAR-T therapy for ovarian cancer. In collaboration with the Cleveland Clinic, the company has shown promising results in its Phase 1 breast cancer vaccine trial, with more than 70% of patients showing an immune response. The second phase of testing is planned for 2025.
Notably, analysts at EF Hutton and HC Wainwright initiated and maintained a buy rating on Anixa Biosciences. The company also announced a stock buyback program and added Dr. Sanjay Juneja to its Cancer Business Advisory Board. Finally, Anixa Biosciences secured a Japanese patent for its breast cancer vaccine technology, further enhancing its portfolio.
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