Company: ANIX
Filing Date: 2025-09-10
Form Type: 10-Q
Source: 0001493152-25-013000
Chunk: 48

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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 options granted to consultants is measured 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 $23,000 during the three months ended July 31, 2025 and 2024, respectively, and approximately
$77,000, and $101,000, during the nine months ended July 31, 2025 and 2024, respectively.

    10

Stock
Option Activity

During
the three months ended July 31, 2025 and 2024, we granted options to purchase 75,000 shares and 0 shares of common stock, respectively,
and during the nine months ended July 31, 2025 and 2024, we granted options to purchase 1,430,000 shares and 1,350,000 shares of common
stock, respectively, to employees and consultants, with exercise prices ranging from $2.37 to $3.07 per share, pursuant to the Anixa
Biosciences, Inc. 2018 Share Incentive Plan (the “2018 Share Plan”).

During
the three and nine months ended July 31, 2025, stock options to purchase 685 shares of common stock were exercised on a cash basis, with
aggregate proceeds of approximately $2,000. During the three and nine months ended July 31, 2025, stock options to purchase 35,000 shares
of common stock, of which 21,642 shares of common stock were withheld, were exercised on a cashless basis. During the three months ended
July 31, 2024, stock options to purchase 80,000 shares of common stock were exercised on a cash basis, with aggregate proceeds of approximately
$194,000. During the nine months ended July 31, 2024, stock options to purchase 123,999 shares of common stock were exercised on a cash
basis, with aggregate proceeds of approximately $318,000.

Stock
Option Plans

During
the three and nine months ended July 31, 2025, we had two stock option plans: the Anixa Biosciences, Inc. 2010 Share Incentive Plan (the
“