Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 34

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 of 611,686 shares of common stock. Under our at-the-market equity program, which is currently effective and may remain
available for us to use in the future, as of July 31, 2025, we may sell approximately $95 million of common stock.

During
the nine months ended July 31, 2025, cash used in operating activities was approximately $5,918,000. Cash provided by investing
activities was approximately $4,212,000, resulting from the maturities of short-term investments of approximately $40,912,000,
offset by purchases of short-term investments of approximately $36,700,000. Cash provided by financing activities was approximately
$1,930,000, resulting from the sale of 611,686 shares of common stock in an at-the-market equity offering of approximately
$1,924,000, net of expenses, proceeds from the sale of common stock pursuant to an employee stock purchase plan of approximately
$4,000 and proceeds from stock option exercises of approximately $2,000. As a result, our cash, cash equivalents, and short-term
investments at July 31, 2025 decreased approximately $3,895,000 to approximately $16,029,000 from approximately $19,924,000 at the
end of fiscal year 2024.

19

CRITICAL
ACCOUNTING POLICIES

The
Company’s condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted
in the United States of America. In preparing these financial statements, we make assumptions, judgments and estimates that can have
a significant impact on amounts reported in our condensed consolidated financial statements. We base our assumptions, judgments and estimates
on historical experience and various other factors that we believe to be reasonable under the circumstances. Actual results could differ
materially from these estimates under different assumptions or conditions. On a regular basis, we evaluate our assumptions, judgments
and estimates and make changes accordingly.

We
believe that, of the significant accounting policies discussed in Note 2 to our consolidated financial statements in our Annual Report
on Form 10-K for the fiscal year ended October 31, 2024, the following accounting policies require our most difficult, subjective or
complex judgments:

    ●
    Revenue
    Recognition,

    ●
    Stock-Based
    Compensation, and

    ●
    Research
    and Development Expenses.

Revenue
Recognition

Our
revenue has been derived solely from technology licensing and the sale