Anixa Biosciences CEO Provides Letter to Shareholders

Core Insights - Anixa Biosciences has made significant progress in developing innovative cancer therapies and vaccines in 2024, while maintaining a strong financial position for future growth [1][8] Financial Performance - The company utilized only $7 million in cash during the 2024 fiscal year, ending with$20 million in cash and investments, ensuring a strong balance sheet for advancing programs [2] - Anixa has a cash runway of over 2.5 years, supported by a clean capital structure free of warrants, preferred stock, and debt [5] Clinical Developments - Positive preliminary Phase 1 data from the breast cancer vaccine trial was presented at the SITC conference, showing a strong safety profile with over 70% of patients exhibiting protocol-defined immune responses [2][6] - The company is expanding its vaccine programs to include prostate, lung, and colon cancers, alongside ongoing collaboration with the National Cancer Institute for the ovarian cancer vaccine [3] - The CAR-T program targeting ovarian cancer has shown promising results, with a patient from the first dose cohort receiving FDA authorization for a second dose and remaining well 21+ months post-treatment [4] Future Goals - Plans for 2025 include completing the Phase 1 trial of the breast cancer vaccine, initiating the Phase 2 trial, and advancing CAR-T clinical trials for additional solid tumors [7] - Continued development of vaccines for ovarian, lung, prostate, and colon cancers is expected, with progress updates throughout the year [7]