Company: ANIX
Filing Date: 2025-09-10
Form Type: S-3
Source: 0001493152-25-013010
Chunk: 53

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: S-3
Chunk 53
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     |   |      |
| Net tangible book value                               
 per share after giving effect to this offering        |     |   |      |     | $ | 1.69 |
| Dilution per share to new investors                   |     |   |      |     | $ | 1.29 |

The table above assumes, for illustrative purposes, that an aggregate of 33,557,047 shares of our common stock are sold at a price of $2.98 per share, the last reported sale price of our common stock on The NASDAQ Capital Market on September 9, 2025, for aggregate gross proceeds of $100,000,000. The shares sold in this offering, if any, will be sold from time to time at various prices.

The number of shares of our common stock that will be outstanding immediately after this offering as shown above is based on 32,916,915 shares outstanding as of the date of this prospectus. The number of shares outstanding as of the date of this prospectus, as used throughout this prospectus, unless otherwise indicated, excludes the following, all as of the date of this prospectus:

| ● | 12,411,094                                                                                                                           
 shares of our common stock issuable upon exercise of stock options outstanding under our 2018 Share Incentive Plan, 3,350,517        
 of which are not currently exercisable, which have a weighted average exercise price of $3.60 per share;                             |
| ● | 986,283                                                                                                                              
 shares of our common stock issuable upon exercise of stock options outstanding under our 2010 Share Incentive Plan, all of which     
 are currently exercisable, which have a weighted average exercise price of $2.77 per share;                                          |
| ● | 721,642                                                                                                                              
 shares of our common stock reserved for future issuance under our 2018 Share Incentive Plan; and                                     |
| ● | 300,000                                                                                                                              
 shares of our common stock issuable upon exercise of our outstanding warrants which have a weighted average exercise price of $6.56. |

To the extent that any of our outstanding options or warrants are exercised, we grant additional options or other awards under our stock incentive plan or issue additional warrants, or we issue additional shares of common stock in the future, there may be further dilution.

| S-9 |

<div align='center'>DESCRIPTION OF SECURITIES WE ARE OFFERING</div>

General

The following description is not