Company: ANIX
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012701
Chunk: 21

Company: Anixa Biosciences Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 21
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 and related costs, other than stock-based compensation
expense, of approximately $75,000, offset by and an increase in outside research and development expenses related to our new vaccine discovery
program of approximately $56,000.

General and Administrative
Expenses

General and administrative expenses
decreased by approximately $140,000 to approximately $1,681,000 in the three months ended April 30, 2025, from approximately $1,821,000
in the three months ended April 30, 2024. The decrease in general and administrative expenses was primarily due to a decrease in investor
and public relations expense of approximately $151,000, a decrease in director stock-based compensation of approximately $115,000, and
a decrease in consulting fees of approximately $66,000, offset by an increase in employee compensation and related costs, other than stock-based
compensation expense, of approximately $157,000, and an increase in patent-related costs of approximately $42,000.

Interest Income

Interest income decreased by approximately
$96,000 to approximately $190,000 in the three months ended April 30, 2025, from approximately $287,000 in the three months ended April
30, 2024, primarily due to a decrease in the amount of short-term investments held and a decrease in interest rates.

17

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 $18,000 to approximately
$23,000 in the three months ended April 30, 2025 from approximately $41,000 in the three months ended April 30, 2024, as Certainty’s
net loss decreased.

Six months ended April 30, 2025 compared with
six months ended April 30, 2024

Revenue

We had no revenue during the six-month
periods ended April 30, 2025 and 2024.

We have not generated any revenue
to date from our therapeutics or vaccine programs. In addition, while we pursue our therapeutics and vaccine 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 therapy or vaccine programs in the near term. We hope to achieve a profitable outcome by eventually licensing our
technologies to large pharmaceutical companies that have the