Company: ANIX
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012701
Chunk: 22

Company: Anixa Biosciences Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 22
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 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 six months ended April
30, 2025, research and development expenses related to the development of our cancer vaccines and CAR-T therapeutics consisted of approximately
$1,873,000 and $1,001,000, respectively. During the six months ended April 30, 2024 research and development expenses related to the development
of our cancer vaccines and CAR-T therapeutics consisted of approximately $1,568,000 and $1,427,000, respectively.

Research and development expenses
decreased by approximately $121,000 to approximately $2,874,000 in the six months ended April 30, 2025, from approximately $2,995,000
in the six months ended April 30, 2024. The decrease in research and development expenses was primarily due to a decrease in outside research
and development expenses related to our ovarian cancer CAR-T therapeutic of approximately $232,000 and a decrease in employee stock-based
compensation expense of approximately $165,000, offset by an increase in outside research and development expenses related to our new
vaccine discovery program of approximately $113,000, an increase in outside research and development expenses related to our breast cancer
vaccine of approximately $107,000, and an increase in clinical consulting fees of approximately $51,000.

General and Administrative
Expenses

General and administrative expenses
decreased by approximately $566,000 to approximately $3,515,000 in the six months ended April 30, 2025, from approximately $4,081,000
in the six 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 $442,000, a decrease in director stock-based compensation of approximately $182,000, a decrease
in consulting fees of approximately $62,000, and a decrease in legal and other professional fees of approximately $53,000, offset by an
increase in employee compensation and related costs, other than stock-based compensation expense, of approximately $87,000, and an increase
in patent-related costs of approximately $62,000.

Interest Income

Interest income