Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 37

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 our behalf.
Fees for such services are recognized based on management’s estimates after considering the activities and tasks completed by each
service provider in a given period, the time period over which services are expected to be performed, and the level of effort expended
in each reporting period.

At
each balance sheet date, management estimates prepaid and accrued research and development costs by discussing progress or stage of completion
of activities with internal personnel and external service providers, and comparing this information to payments made, invoices received,
and the agreed-upon contractual fee to be paid for such services in the applicable contract or statements of work.

In
addition, we allocate certain internal compensation costs to research and development expenses based on management’s estimates
of each employee’s time and effort expended.

EFFECT
OF RECENTLY ISSUED PRONOUNCEMENTS

We
discuss the effect of recently issued pronouncements in Note 7 of the condensed consolidated financial statements, included elsewhere
in this Report.

Item
3. Quantitative and Qualitative Disclosures About Market Risk. Not applicable.

Item
4. Controls and Procedures.

We
carried out an evaluation, under the supervision and with the participation of our management including our Chief Executive Officer and
our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rule
13(a)-15(b) of the Exchange Act. Based upon that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that
our disclosure controls and procedures are effective as of the end of the period covered by this Report.

There
was no change in our internal control over financial reporting during the three months ended July 31, 2025, that has materially affected,
or is reasonably likely to materially affect, our internal control over financial reporting.

21

PART
II. OTHER INFORMATION

Item
1. Legal Proceedings.

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.

Item
1A. Risk Factors.

There
have been no material changes in our risk factors from those disclosed in our Annual Report on Form 10-K for the fiscal year ended October
31, 2024.

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds. None.

Item
3. Defaults Upon Senior Securities. None.

Item
4.