Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 62

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 8
Chunk 62
---
 to approximately $3,929,000 in the nine months ended July 31, 2025,
from approximately $4,920,000 in the nine 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
$524,000, a decrease in outside research and development expenses related to our ovarian cancer CAR-T therapeutic of approximately
$402,000, a
decrease in employee stock-based compensation expense of approximately $271,000, offset by an increase in outside research and
development expenses related to our new vaccine discovery program of approximately $113,000, and an increase in technology licensing
fees of approximately $56,000.

General
and Administrative Expenses

General
and administrative expenses decreased by approximately $852,000 to approximately $4,896,000 in the nine months ended July 31, 2025, from
approximately $5,748,000 in the nine months ended July 31, 2024. The decrease in general and administrative expenses was primarily due
to a decrease in investor and public relations expense of approximately $478,000, a decrease in director stock-based compensation of
approximately $280,000, a decrease in employee stock-based compensation of approximately $68,000, and a decrease in consulting fees of
approximately $58,000, offset by an increase in patent-related costs of approximately $67,000.

Interest
Income

Interest
income decreased by approximately $364,000 to approximately $519,000 in the nine months ended July 31, 2025, from approximately $883,000
in the nine 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 $40,000 to approximately $74,000 in the nine months ended July 31, 2025 from approximately $114,000 in the nine months
ended July 31, 2024, as Certainty’s net loss decreased.

LIQUIDITY
AND CAPITAL RESOURCES

Our
primary sources of liquidity are cash, cash equivalents and short-term investments.

Based
on currently available information as of September 10, 2025, we