Company: ANIX
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012701
Chunk: 9

Company: Anixa Biosciences Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 9
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 at the grant date, based on the fair value of the award using the Black-Scholes pricing
model, and is expensed on a straight-line basis over the requisite service period (the vesting period of the stock option) which is one
to three years. We recorded stock-based consulting expense related to stock options granted to consultants of approximately $26,000 and
$22,000 during the three months ended April 30, 2025 and 2024, respectively, and approximately $50,000, and $78,000, during the six months
ended April 30, 2025 and 2024, respectively.

    10

Stock Option Activity

During the three months ended
April 30, 2025 and 2024, we granted options to purchase 0 shares and 15,000 shares of common stock, respectively, and during the six months
ended April 30, 2025 and 2024, we granted options to purchase 1,355,000 shares and 1,350,000 shares of common stock, respectively, to
employees and consultants, with exercise prices ranging from $2.37 to $4.39 per share, pursuant to the Anixa Biosciences, Inc. 2018 Share
Incentive Plan (the “2018 Share Plan”). During the three and six months ended April 30, 2025, no stock options were exercised.
During the three and six months ended April 30, 2024, stock options to purchase 19,999 shares and 43,999 shares of common stock, respectively,
were exercised on a cash basis, with aggregate proceeds of approximately $57,000 and $124,000, respectively.

Stock Option Plans

During the three and six months
ended April 30, 2025, we had two stock option plans: the Anixa Biosciences, Inc. 2010 Share Incentive Plan (the “2010 Share Plan”)
and the 2018 Share Plan, which were adopted by our Board of Directors on July 14, 2010 and January 25, 2018, respectively. The 2018 Share
Plan was approved by our shareholders on March 29, 2018.

2010 Share Plan

The 2010 Share Plan provided for
the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to employees, directors
and consultants. In accordance with the provisions of