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Anixa Biosciences Board of Directors Approves Purchase of Bitcoin as Treasury Reserve Asset
Anixa Biosciences (NASDAQ: ANIX) announced its Board of Directors has approved the purchase of Bitcoin as a treasury reserve asset. The company aims to diversify holdings while maintaining its ongoing stock buyback program. Management highlighted positive results from their breast cancer vaccine and ovarian cancer therapy clinical trials, emphasizing low cash burn rates. The decision to invest in Bitcoin is presented as part of their financial management strategy, with the company citing Bitcoin's growing recognition as a mainstream asset class, inflation-resistant qualities, and the recent approval of Bitcoin ETFs as supporting factors.
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