SAN
JOSE, Calif., July 15,
2024 /PRNewswire/ -- Anixa Biosciences, Inc. ("Anixa"
or the "Company") (NASDAQ: ANIX), a biotechnology company focused
on the treatment and prevention of cancer, today announced that its
Board of Directors has authorized a share repurchase program of up
to $5 million of the Company's
outstanding common stock.
"This share repurchase program reflects our confidence in the
future outlook of our business, the soundness of our balance sheet,
the strength of our clinical development pipeline and Anixa's
long-term value. We believe that Anixa's stock is currently
undervalued and this program provides an opportunity to enhance
long-term shareholder value," stated Dr. Amit Kumar, Chairman and CEO of Anixa.
Repurchases may be made from time to time at the discretion of
the Board of Directors through open-market transactions in
accordance with applicable securities laws. The repurchase program
expires in twelve months and can be suspended or discontinued at
any time. No shares have been repurchased under the program to
date. There can be no assurance as to the timing or number of
shares of any repurchases, if any.
About Anixa Biosciences, Inc.
Anixa is a
clinical-stage biotechnology company focused on the treatment and
prevention of cancer. Anixa's therapeutic portfolio consists of an
ovarian cancer immunotherapy program being developed in
collaboration with Moffitt Cancer Center, which uses a novel type
of CAR-T, known as chimeric endocrine receptor T-cell (CER-T)
technology. The Company's vaccine portfolio includes vaccines being
developed in collaboration with Cleveland Clinic to prevent breast
cancer – specifically triple negative breast cancer (TNBC), the
most lethal form of the disease – and ovarian cancer, as well as
additional cancer vaccines to address many intractable cancers,
including high incidence malignancies in lung, colon, and prostate.
These vaccine technologies focus on immunizing against "retired"
proteins that have been found to be expressed in certain forms of
cancer. Anixa's unique business model of partnering with
world-renowned research institutions on all stages of development
allows the Company to continually examine emerging technologies in
complementary fields for further development and commercialization.
To learn more, visit www.anixa.com or follow Anixa on Twitter,
LinkedIn, Facebook and YouTube.
Forward-Looking Statements
Statements that are not historical fact may be considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are not statements of historical facts, but rather
reflect Anixa's current expectations concerning future events and
results. We generally use the words "believes," "expects,"
"intends," "plans," "anticipates," "likely," "will" and similar
expressions to identify forward-looking statements. Such
forward-looking statements, including those concerning our
expectations, involve risks, uncertainties and other factors, some
of which are beyond our control, which may cause our actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance, or
achievements expressed or implied by such forward-looking
statements. These risks, uncertainties and factors include, but are
not limited to, those factors set forth in "Item 1A - Risk Factors"
and other sections of our most recent Annual Report on Form 10-K as
well as in our Quarterly Reports on Form 10-Q and Current Reports
on Form 8-K. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
You are cautioned not to unduly rely on such forward-looking
statements when evaluating the information presented in this press
release.
Contact:
Mike Catelani
President, COO & CFO
mcatelani@anixa.com
408-708-9808
View original content to download
multimedia:https://www.prnewswire.com/news-releases/anixa-biosciences-announces-5-million-share-repurchase-program-302196781.html
SOURCE Anixa Biosciences, Inc.