ITUS Corp (NASDAQ:ITUS) is trading higher today. ITUS is up 8% and is up 200% for the last five days. Yesterday, the Biotech stock had its annual meeting and provided some important updates.
ITUS’s wholly owned subsidiary Anixa Diagnostics, recently renewed its research agreement with The Wistar Institute for continued development of Cchek™, its early cancer detection technology. Dr. Amit Kumar, President and CEO of ITUS stated, “We continue to make progress in our R&D efforts as we work with our partners, MD Anderson, U. Pennsylvania’s Abramson Cancer Center, Delaware Valley Urology, Virtua Hospitals, and others. Cchek™, which has demonstrated 91% sensitivity and specificity in a preliminary study, continues to perform at that level or better.”
ITUS Corp (NASDAQ:ITUS) is engaged in developing a diagnostic platform called Cchek, for the early detection of tumor-based cancers. The Cchek cancer detection platform measures a patient’s immune response to a malignancy by detecting the presence, absence and quantity of certain immune cells that exist in and around a tumor and that enter the blood stream. Instead of seeking to alter or boost the body’s immune system and its ability to destroy cancer cells, the Company has developed techniques and protocols for measuring the subtle immunological changes that occur in the blood stream during tumor development. Through its protocols, the Company has detected the biomarkers in the peripheral blood of biopsy verified cancer patients, and in distinguishing the blood of healthy patients from the blood of cancer patients.
Find out when ITUS stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
ITUS has also conducted and is conducting studies with multiple collaborators demonstrating the utility of its technology for not only cancer detection but also monitoring therapy and evaluating patient response to immuno-oncology drugs. Dr. Kumar stated, “The results of these studies to date have been consistent with the superior performance of our data in our own clinical studies. When completed, we plan to disclose the results of these studies in concert with each individual collaborator.”
These updates follow news, as mentione above, that ITUS was granted a patent for its cancer detection tech. The technology has demonstrated its ability to identify 15 cancer types including breast, prostate, colon, lung, pancreatic, and others.
Dr. Kumar, CEO of ITUS, stated: “This is the first patent to issue of several patents that we expect to issue garnering protection of our cancer detection technology. The claims of this patent were allowed in May of 2017, and now we have received the official issuance notification and patent number. We currently have one other key patent application pending at the USPTO and expect to file for additional patent protection as our research and development continues.”
ITUS Corp (NASDAQ:ITUS) has a $33.63M market cap along with 15.12M shares out. The company is seeing pronounced volume on this recent news sometimes peaking into the millions, which is far above the norm for ITUS. We expect more news in the near future and recommend investors to be watching the wire carefully. Sign-up for continuing coverage on shares of $ITUS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $ITUS, either long or short, and we have not been compensated for this article.