Company: ANIX
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012701
Chunk: 17

Company: Anixa Biosciences Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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 lease payments of our operating lease liability were as follows (in thousands):

SCHEDULE OF MINIMUM LEASE PAYMENTS 

    For Years Ended October 31, 
    Operating  Leases 
  
    2025 (remaining) 
    $31 
  
    2026 
     63 
  
    2027 
     64 
  
    2028 
     66 
  
    2029 
     63 
  
    Total future minimum lease payments, undiscounted 
     287 
  
    Less: Imputed interest 
     66 
  
    Present value of future minimum lease payments 
    $221 

    Balance as of April 30, 2025: 

    Operating lease liability 
    $37 
  
    Operating lease liability, non-current 
     184 
  
    Total 
    $221 

10. COMMITMENTS AND CONTINGENCES

Litigation Matters

Other than lawsuits related to
the enforcement of our patent rights, we are not a party to any material pending legal proceedings, nor are we aware of any pending litigation
or legal proceeding against us that would have a material adverse effect upon our results of operations or financial condition.

License Commitments

As of April 30, 2025, our commitments
under certain technology license agreements related to our therapeutic and vaccine development programs for the next twelve months were
approximately $150,000.

Research & Development Agreements

We have entered into certain research
and development agreements with various collaboration partners and third-party vendors related to i) the manufacturing of materials necessary
for the expected Phase 2 clinical trial of our breast cancer vaccine, ii) the discovery of new vaccine targets in high incidence malignancies
in prostate, lung and colon and iii) the further development of our CAR-T technology. As of April 30, 2025, future payments the Company
may make under these agreements, dependent upon, among other things, development of analytical methods, formulation feasibility studies,
stability testing and results of manufacturing processes, may be approximately $3.3 million and such payments may be made over up to a
5five-year period.

    15

11. SEGMENT INFORMATION

We follow the accounting guidance
of ASC 280 “Segment Reporting” (“ASC 280”). Reportable operating segments are determined based on the management
approach. The management approach, as defined by ASC 280, is based on the way that the chief operating decision-maker organizes the segments