Company: ANIX
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012701
Chunk: 5

Company: Anixa Biosciences Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 5
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 material financial resources
or attention of senior management.

Over the past several years, our
revenue was derived from technology licensing and the sale of patented technologies, including revenue from the settlement of litigation.
We have not generated any revenue to date from our vaccine or therapeutics programs. In addition, while we pursue our vaccine and therapeutics
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 vaccine or therapy 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 vaccines or therapeutics. 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.

Funding and Management’s Plans

Based on currently available information
as of May 28, 2025, we 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 $15,597,000 of cash, cash equivalents and short-term investments at April 30, 2025 compared to approximately
$19,924,000 at October 31, 2024 which is a reduction of approximately $4,327,000 for the six months ended April 30, 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 six months ended April 30, 2025, we issued 14,712 shares under our at-the-market
equity offering. Under our at-the-market equity program, which is currently effective and may remain available for us to use in the future,
as of April 30, 2025, we may sell approximately $97 million of common stock.

    8

2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed
consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States
of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule