Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 63

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 believe that our existing cash, cash equivalents and short-term investments
will be sufficient to fund our activities for at least the next twelve months. The Company had approximately $16,029,000 of cash, cash
equivalents and short-term investments at July 31, 2025 compared to approximately $19,924,000 at October 31, 2024 which is a reduction
of approximately $3,895,000 for the nine months ended July 31, 2025. Therefore, the Company believes that it has sufficient cash, cash
equivalents and short-term investments to operate its business, as currently contemplated, for significantly longer than 12 months from
the date of this Report. We have implemented a business model that conserves funds by collaborating with third parties to develop our
technologies. During the nine months ended July 31, 2025, we raised approximately $1,924,000, net of expenses, through an at-the-market
equity offering of 611,686 shares of common stock. Under our at-the-market equity program, which is currently effective and may remain
available for us to use in the future, as of July 31, 2025, we may sell approximately $95 million of common stock.

During
the nine months ended July 31, 2025, cash used in operating activities was approximately $5,918,000. Cash provided by investing
activities was approximately $4,212,000, resulting from the maturities of short-term investments of approximately $40,912,000,
offset by purchases of short-term investments of approximately $36,700,000. Cash provided by financing activities was approximately
$1,930,000, resulting from the sale of 611,686 shares of common stock in an at-the-market equity offering of approximately
$1,924,000, net of expenses, proceeds from the sale of common stock pursuant to an employee stock purchase plan of approximately
$4,000 and proceeds from stock option exercises of approximately $2,000. As a result, our cash, cash equivalents, and short-term
investments at July 31, 2025 decreased approximately $3,895,000 to approximately $16,029,000 from approximately $19,924,000 at the
end of fiscal year 2024.

19

CRITICAL
ACCOUNTING POLICIES

The
Company’s condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted
in the United States