Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 15

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 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.

    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 8-03 of Regulation S-X. Accordingly, certain information and disclosures required by US GAAP in annual financial statements
have been omitted or condensed. These interim condensed consolidated financial statements should be read in conjunction with the audited
consolidated financial statements and related disclosures included in our Annual Report on Form 10-K for the fiscal year ended October
31, 2024. The accompanying October 31, 2024 condensed consolidated balance sheet data was derived from the audited financial statements
but does not include all disclosures required by US GAAP. The condensed consolidated financial statements include all adjustments of
a normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of July
31, 2025, and results of operations and cash flows for the interim periods represented. The results of operations for the three and nine
months ended July 31, 2025 are not necessarily indicative of the results to be