Company: ANIX
Filing Date: 2025-03-11
Form Type: 10-Q
Source: 0001493152-25-009854
Chunk: 19

Company: Anixa Biosciences Inc
Filing Date: 2025-03-11
Form: 10-Q
Item: Part I, Item 8
Chunk 19
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 results, to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited
to, those factors set forth in our Annual Report on Form 10-K for the fiscal year ended October 31, 2024. Except as required by applicable law, including the securities laws of the United States,
we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented
in this Report.

GENERAL

We discuss the description of
our business in the Notes to our Condensed Consolidated Financial Statements.

RESULTS OF OPERATIONS

Three months ended January 31, 2025 compared
with three months ended January 31, 2024

Revenue

We had no revenue during the three-month
periods ended January 31, 2025 and 2024.

We have not generated any revenue
to date from our therapeutics or vaccine programs. In addition, while we pursue our therapeutics and vaccine programs, we may also make
investments in and form new companies to develop additional emerging technologies. We do not expect to begin generating revenue with respect
to any of our current therapy or vaccine programs in the near term. We hope to achieve a profitable outcome by eventually licensing our
technologies to large pharmaceutical companies that have the 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 three months ended
January 31, 2025, research and development expenses related to the development of our cancer vaccines and CAR-T therapeutics consisted
of approximately $975,000 and $577,000, respectively. During the three months ended January 31, 2024 research and development expenses
related to the development of our cancer vaccines and CAR-T therapeutics consisted of approximately $720,000 and $629,000, respectively.

Research and development expenses
increased by approximately $203,000 to approximately $1,552,000 in the three months ended January 31, 2025, from approximately $1,349,000
in the three months ended January 31, 2024.