Company: ANIX
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012701
Chunk: 23

Company: Anixa Biosciences Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 23
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 decreased by approximately
$243,000 to approximately $363,000 in the six months ended April 30, 2025, from approximately $606,000 in the six months ended April 30,
2024, primarily due to a decrease in the amount of short-term investments held and a decrease in interest rates.

Net Loss Attributable to
Noncontrolling Interest

The net loss attributable to noncontrolling
interest, representing Wistar’s ownership interest in Certainty’s net loss, decreased by approximately $24,000 to approximately
$52,000 in the six months ended April 30, 2025 from approximately $76,000 in the six months ended April 30, 2024, as Certainty’s
net loss decreased.

18

LIQUIDITY AND CAPITAL RESOURCES

Our primary sources of liquidity
are cash, cash equivalents and short-term investments.

Based on currently available information
as of May 28, 2025, we believe that our existing cash, cash equivalents and short-term investments will be sufficient to fund our activities
for at least the next twelve months. The Company had approximately $16,766,000 of total current assets at April 30, 2025 compared to approximately
$21,362,000 at October 31, 2024 which is a reduction of approximately $4,596,000 for the six months ended April 30, 2025. Therefore, the
Company believes that it has sufficient cash, cash equivalents and short-term investments to operate its business, as currently contemplated,
for significantly longer than 12 months from the date of this Report. We have implemented a business model that conserves funds by collaborating
with third parties to develop our technologies. During the six months ended April 30, 2025, we issued 14,712 shares under our at-the-market
equity offering. Under our at-the-market equity program, which is currently effective and may remain available for us to use in the future,
as of April 30, 2025, we may sell approximately $97 million of common stock.

During the six months ended April 30, 2025, cash used in operating activities
was approximately $4,407,000. Cash provided by investing activities was approximately $5,045,000, resulting from the maturities of short-term
investments of approximately $29,974,000, offset by purchases of short-term investments totaling approximately $24,929,000. Cash provided
by