Company: ANIX
Filing Date: 2025-03-11
Form Type: 10-Q
Source: 0001493152-25-009854
Chunk: 5

Company: Anixa Biosciences Inc
Filing Date: 2025-03-11
Form: 10-Q
Item: Part I, Item 8
Chunk 5
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 addition, while we pursue our vaccine and therapeutics
programs, we may also make investments in and form new companies to develop additional emerging technologies. We do not expect to begin
generating revenue with respect to any of our current vaccine or therapy programs in the near term. We hope to achieve a profitable outcome
by eventually licensing our technologies to large pharmaceutical companies that have the resources and infrastructure in place to manufacture,
market and sell our technologies as vaccines or therapeutics. The eventual licensing of any of our technologies may take several years,
if it is to occur at all, and may depend on positive results from human clinical trials.

Funding and Management’s Plans

Based on currently available information as of March 11, 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 $18,686,000 of total current assets at January 31, 2025 compared to approximately $21,362,000 at
October 31, 2024 which is a reduction of approximately $2,676,000 for the three months ended January 31, 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 three months ended January 31, 2025, we did not issue any 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 January 31, 2025, we may sell approximately $97 million of common stock.

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2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed
consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States
of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation
S-X. Accordingly, certain information and disclosures required by generally accepted accounting principles in annual financial statements
have been omitted or condensed. These interim condensed consolidated financial statements should be read in conjunction with the audited
consolidated financial statements and related disclosures included in our Annual