Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 60

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 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 resources and infrastructure in place to manufacture,
market and sell our technologies as therapeutics or vaccines. 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.

Research
and Development Expenses

During
the three months ended July 31, 2025, research and development expenses related to the development of our cancer vaccines and CAR-T therapeutics
consisted of approximately $615,000 and $440,000, respectively. During the three months ended July 31, 2024 research and development
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