Anixa Biosciences Files Q3 10-Q

TL;DR

Anixa Biosciences filed its Q3 10-Q, check financials for period ending 7/31/24.

AI Summary

Anixa Biosciences Inc. filed its 10-Q for the period ending July 31, 2024, reporting on its third fiscal quarter. The company, formerly ITUS Corp, is focused on pharmaceutical preparations and is incorporated in Delaware. Key financial details and operational updates for this period are detailed within the filing.

Why It Matters

This filing provides investors with an update on Anixa Biosciences' financial health and operational progress for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: medium — As a company in the pharmaceutical preparations sector, Anixa Biosciences faces inherent risks related to research and development, regulatory approvals, and market competition.

Key Numbers

• 2024-07-31 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-09-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Anixa Biosciences Inc (company) — Filer of the 10-Q
• ITUS Corp (company) — Former name of Anixa Biosciences Inc
• 20240731 (date) — End of the reporting period
• 20240906 (date) — Date of filing

FAQ

Key Financial Figures

• $139 — t offering, net of offering expenses of $139 Common stock issued in an at-the-mark

Filing Documents

• form10-q.htm (10-Q) — 909KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-035335.txt ( ) — 4504KB
• anix-20240731.xsd (EX-101.SCH) — 32KB
• anix-20240731_cal.xml (EX-101.CAL) — 42KB
• anix-20240731_def.xml (EX-101.DEF) — 153KB
• anix-20240731_lab.xml (EX-101.LAB) — 279KB
• anix-20240731_pre.xml (EX-101.PRE) — 222KB
• form10-q_htm.xml (XML) — 675KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 1

Financial Statements

Item 1. Financial Statements. 1 Condensed Consolidated Balance Sheets (Unaudited) as of July 31, 2024 and October 31, 2023 1 Condensed Consolidated Statements of Operations (Unaudited) for the three and nine months ended July 31, 2024 and 2023 2 Condensed Consolidated Statements of Equity (Unaudited) for the three months ended July 31, 2024 and 2023 3 Condensed Consolidated Statements of Equity (Unaudited) for the nine months ended July 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended July 31, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 21

Controls and Procedures

Item 4. Controls and Procedures. 21

OTHER INFORMATION

PART II. OTHER INFORMATION 22

Legal Proceedings

Item 1. Legal Proceedings. 22

Risk Factors

Item 1A. Risk Factors. 22

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 22

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. 22

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 22

Other Information

Item 5. Other Information. 22

Exhibits

Item 6. Exhibits. 22

SIGNATURES

SIGNATURES 23 i PART I. FINANCIAL INFORMATION Item 1. Financial Statements. ANIXA BIOSCIENCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share and per share data) July 31, 2024 October 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,225 $ 915 Short-term investments 19,520 22,929 Receivables 410 270 Prepaid expenses and other current assets 1,515 1,242 Total current assets 22,670 25,356 Operating lease right-of-use asset 238 166 Total assets $ 22,908 $ 25,522 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 302 $ 206 Accrued expenses 1,678 1,770 Operating lease liability 24 52 Total current liabilities 2,004 2,028 Operating lease liability, non-current 213 123 Total liabilities 2,217 2,151 Commitments and contingencies (Note 10) - - Equity: Shareholders' equity: Preferred stock, par value $ 100 per share; 19,860 shares authorized; no shares issued or outstanding - - Series A convertible preferred stock, par value $ 100 per share; 140 shares authorized; no shares issued or outstanding - - Preferred stock, value - - Common stock, par value $ .01 per share; 100,000,000 shares authorized; 32,146,460 and 31,145,219 shares issued and outstanding as of July 31, 2024 and October 31, 2023, respectively 321 311 Additional paid-in capital 259,317 252,222 Accumulated deficit ( 237,867 ) ( 228,196 ) Total shareholders' equity 21,771 24,337 Noncontrolling interest (Note 2) ( 1,080 ) ( 966 ) Total equity 20,691 23,371 Total liabilities and equity $ 22,908 $ 25,522 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 ANIXA BIOSCIENCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands, except per share data) 2024 2023 2024 2023 For the three months ended For the nine months

View Full Filing

View this 10-Q filing on SEC EDGAR