Michael Catelani, the President, Chief Operating Officer, and Chief Financial Officer of Anixa Biosciences Inc. (NASDAQ:), recently purchased 9,289 shares of the company’s common stock. The $71 million market cap company maintains a strong financial position, with InvestingPro data showing a healthy current ratio of 8.54 and minimal debt on its balance sheet. The shares were acquired at a price of $2.15 each, resulting in a total transaction value of $19,971. Following this acquisition, Catelani now directly owns 44,500 shares of Anixa Biosciences. This transaction was reported in a recent SEC filing. The purchase comes as the stock trades near its 52-week low of $2.07, with analyst price targets ranging from $7 to $10. InvestingPro subscribers can access 8 additional key insights about ANIX’s financial health and market position.

In other recent news, Anixa Biosciences has made significant strides in its cancer research efforts. The company has reported a net loss of $3.1 million for the second fiscal quarter of 2024, less than the projected loss of $3.5 million. Analysts from EF Hutton and H.C. Wainwright have initiated and maintained a Buy rating for the company, despite H.C. Wainwright reducing the 12-month price target to $7.00.

Anixa Biosciences also announced a strategic decision to acquire as part of its treasury reserve assets, aiming to diversify its treasury and leverage the anticipated long-term value of digital currencies. In addition to this, the company is continuing its stock buyback program, reinforcing its commitment to increasing shareholder value.

In its ongoing clinical trials, Anixa Biosciences has successfully dosed the first patient in the third cohort of their Phase 1 trial of CAR-T therapy for ovarian cancer. The company, in collaboration with Cleveland Clinic, has shown promising results in its Phase 1 breast cancer vaccine trial with over 70% of patients exhibiting immune responses.

Other recent developments include the announcement of a share repurchase program and the addition of Dr. Sanjay Juneja to the Cancer Business Advisory Board. Anixa Biosciences has also received a Japanese patent for its breast cancer vaccine technology. These are among the recent developments in Anixa Biosciences’ pursuit of advancing cancer treatment and prevention.

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