Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 31

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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expenses related to the development of our cancer vaccines and CAR-T therapeutics consisted of approximately $1,259,000 and $666,000,
respectively.

17

Research
and development expenses decreased by approximately $870,000 to approximately $1,055,000 in the three months ended July 31, 2025, from
approximately $1,925,000 in the three months ended July 31, 2024. The decrease in research and development expenses was primarily due
to a decrease in outside research and development expenses related to our breast cancer vaccine of approximately $631,000, a decrease in outside research and development expenses related to our ovarian cancer CAR-T therapeutic of approximately
$170,000, a decrease
in employee stock-based compensation expense of approximately $106,000, and a decrease in clinical consulting services of approximately $52,000,
offset by an increase in employee compensation and related costs, other than stock-based compensation expense, of approximately $96,000.

General
and Administrative Expenses

General
and administrative expenses decreased by approximately $286,000 to approximately $1,381,000 in the three months ended July 31, 2025,
from approximately $1,667,000 in the three months ended July 31, 2024. The decrease in general and administrative expenses was primarily
due to a decrease in director stock-based compensation of approximately $98,000, a decrease in investor and public relations expense
of approximately $94,000, a decrease in employee compensation and related costs, other than stock-based compensation expense, of approximately
$77,000 and a decrease in employee stock-based compensation of approximately $61,000.

Interest
Income

Interest
income decreased by approximately $121,000 to approximately $156,000 in the three months ended July 31, 2025, from approximately $277,000
in the three months ended July 31, 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 $16,000 to approximately $22,000 in the three months ended July 31, 2025 from approximately $38,000 in the three months
ended July 31, 2024, as Certainty’s net loss decreased.

Nine
months ended July