Company: ANIX
Filing Date: 2025-03-11
Form Type: 10-Q
Source: 0001493152-25-009854
Chunk: 20

Company: Anixa Biosciences Inc
Filing Date: 2025-03-11
Form: 10-Q
Item: Part I, Item 8
Chunk 20
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 The increase in research and development expenses was primarily due to an increase in outside
research and development expenses related to our breast cancer vaccine program of approximately $88,000, an increase in license fees related
to our ovarian cancer CAR-T therapeutic of approximately $80,000, an increase in employee compensation and related costs, other than stock-based
compensation expense, of approximately $69,000, and an increase in outside research and development expenses related to our new vaccine
discovery program of approximately $56,000, offset by a decrease in employee stock-based compensation expense of approximately $59,000,
and a decrease in consultant stock-based compensation expense of approximately $33,000.

 16 

General and Administrative
Expenses

General and administrative expenses
decreased by approximately $426,000 to approximately $1,834,000 in the three months ended January 31, 2025, from approximately $2,260,000
in the three months ended January 31, 2024. The decrease in general and administrative expenses was primarily due to a decrease in investor
and public relations expense of approximately $291,000, a decrease in employee compensation and related costs, other than stock-based
compensation expense, of approximately $70,000, a decrease in director stock-based compensation of approximately $67,000, and a decrease
in legal and other professional fees of approximately $57,000, offset by an increase in employee stock-based compensation expense of approximately
$48,000.

Interest Income

Interest income decreased by approximately
$146,000 to approximately $173,000 in the three months ended January 31, 2025, from approximately $319,000 in the three months ended January
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 $6,000 to approximately
$29,000 in the three months ended January 31, 2025 from approximately $35,000 in the three months ended January 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 March 11, 2025, we believe
that