Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 44

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 8
Chunk 44
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 technology licensing and the sale of patented technologies, including revenue from
the settlement of litigation. We have not generated any revenue to date from our vaccine or therapeutics programs. In 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 September 10, 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 $16,029,000 of cash, cash
equivalents and short-term investments at July 31, 2025 compared to approximately $19,924,000 at October 31, 2024 which is a reduction
of approximately $3,895,000 for the nine months ended July 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 nine months ended July 31, 2025, we raised approximately $1,924,000, net of expenses, through an at-the-market
equity offering 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.

    8

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