Yahoo Finance Anixa (ANIX) Falls 25% Despite Positive Breast Cancer Study Data
Anixa Biosciences ANIX and its partner, Cleaveland Clinic, reported positive top-line data from the phase I study of its breast cancer vaccine. Results showed various levels of antigen-specific T cell responses at all dose levels in vaccinated women who have been tested to date. However, despite positive results, the stock of the company plunged 24.5% on Monday.
In the past year, shares of Anixa have increased 74.8% against the industry’s 11.9% decline.
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The study is funded by a grant from the U.S. Department of Defense to the Cleveland Clinic. Anixa is the exclusive worldwide licensee of the vaccine.
The ongoing phase Ia study is evaluating the safety of the vaccine in terms of identifying the Maximum Tolerated Dose and monitoring the immune response in vaccinated women. The patient population for the study includes women who have had triple-negative breast cancer (TNBC) within the last three years and received standard-of-care treatment. The patients were tumor-free at the time of vaccination, as determined by standard diagnostic techniques, but are at high risk of recurrence.
Per management, the purpose of the study is to test its vaccine and determine if a vaccinated patient's immune system is trained to destroy cancer cells expressing α-lactalbumin. The α-lactalbumin is a protein found on TNBC cancer cells and not on normal cells.
Management also reaffirmed that the design of the phase Ia study did not take into consideration whether the responses are sufficient to prevent recurrence or primary tumorogenesis. Anixa expects further studies of the candidate to determine the effectiveness of the immune responses in preventing cancer.
One in eight women in the United States is likely to be diagnosed with invasive breast cancer at some point in their lives, out of which, about 10-15% of those diagnoses are TNBC. African-American women are usually more susceptible to this form of breast cancer. TNBC is characterized by mutations in the BRCA1 genes in women in about 70-80% of the cases.
ANIXA BIOSCIENCES INC Price and Consensus
ANIXA BIOSCIENCES INC price-consensus-chart | ANIXA BIOSCIENCES INC Quote
Zacks Rank and Other Stocks to Consider
Anixa currently has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the same industry are Aptinyx APTX, Acadia Pharmaceuticals ACAD and ADMA Biologics ADMA, all carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for Aptinyx’s 2023 loss per share has narrowed from 77 cents to 47 cents. In the past year, shares of Aptinyx have fallen by 87.2%.
APTX beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 6.56%.
In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 87 cents to 57 cents. In the past year, shares of Acadia Pharmaceuticals have fallen by 10.8%.
ACAD beat estimates in two of the trailing four quarters, missing the mark on other two occasions, delivering an average negative earnings surprise of 6.33%.
In the past 90 days, the consensus estimate for ADMA Biologics’ 2023 loss per share has narrowed from 19 cents to 14 cents. In the past year, shares of ADMA Biologics have increased by 63%.
ADMA beat estimates in three out of the trailing four quarters, missing the mark on one occasion, delivering an average earnings surprise of 2.88%.
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