Anixa Biosciences Reports Positive Phase 1 Breast Cancer Vaccine Data, Advancing to Phase 2

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Anixa Biosciences has reported highly encouraging final data from its Phase 1 clinical trial for a triple-negative breast cancer vaccine. The trial successfully met all primary endpoints, demonstrating a 74% immune response rate and a favorable safety profile at the maximum tolerated dose. This positive outcome is a significant de-risking event for a key pipeline asset and paves the way for a planned Phase 2 study. Additionally, the company's CAR-T ovarian cancer therapy continues to show anecdotal signs of efficacy in its Phase 1 trial, and its ovarian cancer vaccine program is fully funded for preclinical development by the NCI. While the company continues to incur losses typical of a clinical-stage biotech, management indicates sufficient liquidity to fund operations for at least the next twelve months, supported by an active at-the-market equity offering program.

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• Positive Phase 1 Breast Cancer Vaccine Results

  The Phase 1 clinical trial for the triple-negative breast cancer vaccine met all primary study endpoints, observed protocol-defined immune responses in 74% of subjects, and was safe and well-tolerated at the maximum tolerated dose. The company is preparing to initiate a Phase 2 clinical trial.

• CAR-T Ovarian Cancer Therapy Progress

  The Phase 1 clinical trial for lira-cel, a CAR-T therapy for ovarian cancer, has treated patients in four dose cohorts with good tolerability. Multiple patients have shown anecdotal signs of efficacy, including survival beyond expectations, and one patient received FDA approval for re-dosing.

• Ovarian Cancer Vaccine Development

  The ovarian cancer vaccine technology has been accepted into the NCI's PREVENT program, which is fully funding all preclinical research, development, manufacturing, and IND-enabling studies, requiring no material financial expenditures from Anixa.

• Liquidity and Funding Runway

  As of October 31, 2025, Anixa Biosciences had approximately $15.174 million in cash, cash equivalents, and short-term investments. Management believes existing funds are sufficient to cover activities for at least the next twelve months, with an active at-the-market equity offering program providing up to an additional $100 million in potential funding.

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Anixa Biosciences has reported highly encouraging final data from its Phase 1 clinical trial for a triple-negative breast cancer vaccine. The trial successfully met all primary endpoints, demonstrating a 74% immune response rate and a favorable safety profile at the maximum tolerated dose. This positive outcome is a significant de-risking event for a key pipeline asset and paves the way for a planned Phase 2 study. Additionally, the company's CAR-T ovarian cancer therapy continues to show anecdotal signs of efficacy in its Phase 1 trial, and its ovarian cancer vaccine program is fully funded for preclinical development by the NCI. While the company continues to incur losses typical of a clinical-stage biotech, management indicates sufficient liquidity to fund operations for at least the next twelve months, supported by an active at-the-market equity offering program.