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Anixa (ANIX) Ovarian Cancer CAR-T Drug to Enter Clinical Study

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Anixa Biosciences, Inc. (ANIX - Free Report) announced that the FDA has cleared the investigational new drug application for its chimeric antigen receptor-T cell (“CAR-T”) therapy to treat ovarian cancer. The therapy is being co-developed in partnership with Moffitt Cancer Center (“MCC”).

Based on an autologous cell therapy, this treatment is designed to target the follicle stimulating hormone receptor found at immunologically relevant levels exclusively on the granulosa cells of the ovaries.

The company’s shares increased 4.4% on Aug 30, following the above news. In fact, the stock has rallied 78.5% so far this year in comparison with the industry’s 0.7% growth.

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Please note that while MCC will lead the clinical studies on the CAR-T therapy for ovarian cancer, Anixa has an exclusive worldwide license to the autologous cell therapy technology, which has been used to develop the candidate

This therapy utilizes a novel type of CAR-T developed by the company known as Chimeric Endocrine Receptor T-cell therapy (“CER-T”). The CER-T therapy targets the hormone receptor and derives the target-binding domain from its natural ligand. Per the company, its CAR-T technology has the potential of achieving efficacy in the treatment of a solid tumor indication.

We remind investors that in the last week, the company announced that its potential compounds are anticipated to be effective against the COVID-19 delta variant. The said compounds have demonstrated the ability to inhibit Mpro, the main protease of COVID-19 and the first protein required to replicate the virus.

Zacks Rank & Stocks to Consider

Anixa presently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the biotech/drug sector include Horizon Therapeutics (HZNP - Free Report) , Ironwood Pharmaceuticals (IRWD - Free Report) and Regeneron Pharmaceuticals (REGN - Free Report) . While Ironwood and Regeneron each sport a Zacks Rank #1 (Strong Buy), Horizon Therapeutics carries a Zacks Rank #2 (Buy) at present. You can see  the complete list of today’s Zacks #1 Rank stocks here.

Horizon’s earnings per share estimates for 2021 have increased from $3.62 to $4.61 in the past 30 days. The same for 2022 has risen from $5.18 to $6.08 over the same period. The stock has rallied 48.7% in the year so far.

Ironwood’s earnings per share estimates for 2021 have increased from $1.00 to $1.18 in the past 30 days. The same for 2022 has risen from $1.20 to $1.72 over the same period. The stock has rallied 16.6% in the year so far.

Regeneron’s earnings per share estimates for 2021 have increased from $49.96 to $54.15 in the past 30 days. The same for 2022 has risen from $40.91 to $44.11 over the same period. The stock has rallied 40.2% in the year so far.