Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 27

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 as of July 31, 2025 for the Company’s lease includes the noncancelable period of the lease and the additional
two-year option period that the Company is reasonably certain to exercise. All right-of-use assets are reviewed for impairment when indications
of impairment are present.

As
of July 31, 2025, the annual minimum future lease payments of our operating lease liability were as follows (in thousands):

 SCHEDULE OF MINIMUM LEASE PAYMENTS

    For
    Years Ended October 31, 
    Operating
     Leases 
  
    2025
    (remaining) 
    $15 
  
    2026 
     63 
  
    2027 
     64 
  
    2028 
     66 
  
    2029 
     63 
  
    Total
    future minimum lease payments, undiscounted 
     271 
  
    Less:
    Imputed interest 
     58 
  
    Present
    value of future minimum lease payments 
    $213 

    Balance as of July
    31, 2025: 

    Operating
    lease liability, current 
    $39 
  
    Operating
    lease liability, non-current 
     174 
  
    Total 
    $213 

    15

10.
COMMITMENTS AND CONTINGENCES

Litigation
Matters

Other
than lawsuits related to the enforcement of our patent rights, we are not a party to any material pending legal proceedings, nor are
we aware of any pending litigation or legal proceeding against us that would have a material adverse effect upon our results of operations
or financial condition.

License
Commitments

As
of July 31, 2025, our commitments under certain technology license agreements related to our therapeutic and vaccine development programs
for the next twelve months were approximately $150,000.

Research
& Development Agreements

We
have entered into certain research and development agreements with various collaboration partners and third-party vendors related to
i) the manufacturing of materials necessary for the expected Phase 2 clinical trial of our breast cancer vaccine, ii) the discovery of
new vaccine targets in high incidence malignancies in prostate, lung and colon and iii) the further development of our CAR-T technology.
As of July 31, 2025, future payments the Company may make under these agreements, dependent upon, among other things, development of
analytical methods, formulation feasibility studies, stability testing