Anixa Biosciences expands treasury strategy with Bitcoin. Cancer-focused biotech Anixa Biosciences announced plans to invest in Bitcoin to strengthen its financial strategy and enhance shareholder value.
The San Jose-based biotech firm stated in a Nov. 22 press release that it will allocate a portion of its treasury to Bitcoin, citing the asset’s “unique inflation-resistant qualities.”
In a Nov. 22 press release, Anixa said the move had been approved by its board as part of a broader strategy to diversify its cash holdings. The biotech firm emphasized its “strong balance sheet and excess cash,” allowing it to pursue strategic financial initiatives, including diversifying treasury holdings with Bitcoin, while focusing on advancing clinical trials and shareholder returns.
Crypto.news said, “With Bitcoin’s growing recognition as a mainstream asset class, we believe it represents a valuable addition to our treasury reserve strategy. The approval of Bitcoin ETFs and increasing participation from institutional investors highlight its rising importance in global markets.”
Mike Catelani, president and CFO of Anixa
Anixa’s chief executive Amit Kumar highlighted the firm’s disciplined approach to financial management, stating that the Bitcoin allocation is an “additional approach to prudent financial management, enabling greater shareholder value.” Following the announcement, Anixa shares soared 7.84% in pre-market trading.
Treasury strategy with Bitcoin
Anixa a biotechnology company focused on the treatment and prevention of cancer, today announced that its Board of Directors has approved the purchase of Bitcoin as a treasury reserve asset.
With Anixa’s strong balance sheet and excess cash, this strategic decision aims to diversify the Company’s treasury holdings while positioning Anixa to benefit from the potential long-term value of digital assets.
The Company also reaffirmed its ongoing stock buyback program as part of its commitment to enhancing shareholder value.
“We are pleased to add this asset class as an investment option for us. We are thrilled that both of our clinical trials—a breast cancer vaccine (NCT04674306), and an ovarian cancer therapy treating recurrent and resistant patients (NCT05316129)—have produced results that have exceeded our expectations. We are proud of our strategy to move our trials forward, while burning relatively low levels of cash. Our decision about Bitcoin is an additional approach to prudent financial management, enabling greater shareholder value,” said Dr. Amit Kumar, CEO of Anixa.
“As we continue to execute on our mission of advancing life-changing cancer therapies, we are also focused on creating long-term financial value for our shareholders,” said Mike Catelani, President and CFO of Anixa. “With Bitcoin’s growing recognition as a mainstream asset class, we believe it represents a valuable addition to our treasury reserve strategy. The approval of Bitcoin ETFs and increasing participation from institutional investors highlight its rising importance in global markets. Its unique inflation-resistant qualities and potential as a reliable store of value aligns with our goal of optimizing long-term financial stability and growth. Combined with our stock buyback program, this initiative reflects our confidence in the Company’s growth trajectory and our dedication to delivering shareholder returns.”
For those interested in learning more about the Company, a 30-minute presentation given at a recent investor conference is available on the Company’s website at https://ir.anixa.com/events.
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 treat and prevent breast cancer 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 are expressed in certain forms of cancer. Anixa’s unique business model of partnering with world-renowned research institutions at 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.
