Advaxis (ADXS) 10-Q 8 Jun 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Apr. 30, 2016	Jun. 01, 2016
Document And Entity Information
Entity Registrant Name	Advaxis, Inc.
Entity Central Index Key	1,100,397
Document Type	10-Q
Document Period End Date	Apr. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		34,346,687
Trading Symbol	ADXS
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Apr. 30, 2016	Oct. 31, 2015
Current Assets:
Cash and Cash Equivalents	$ 44,924,461	$ 66,561,683
Investments - Held-to-Maturity	49,651,332	45,594,495
Interest Receivable	164,576	145,299
Prepaid Expenses	$ 652,791	338,841
Income Tax Receivable		1,609,349
Deferred Expenses - current	$ 3,140,538	749,790
Other Current Assets	7,500	15,116
Total Current Assets	98,541,198	115,014,573
Property and Equipment (net of accumulated depreciation)	1,731,395	1,087,244
Intangible Assets (net of accumulated amortization)	3,692,726	3,355,033
Other Assets	334,862	148,843
TOTAL ASSETS	104,300,181	119,605,693
Current Liabilities:
Accounts Payable	5,555,279	696,117
Accrued Expenses	$ 3,336,505	3,191,941
Short Term Convertible Notes and Fair Value of Embedded Derivative		29,549
Total Current Liabilities	$ 8,891,784	$ 3,917,607
Deferred Rent	175,763
Common Stock Warrant Liability	39,337	$ 89,211
Total Liabilities	$ 9,106,884	$ 4,006,818
Shareholders' Equity:
Preferred Stock, $0.001 par value; 5,000,000 shares authorized; Series B Preferred Stock; issued and outstanding 0 at April 30, 2016 and October 31, 2015. Liquidation preference of $0 at April 30, 2016 and October 31, 2015.
Common Stock - $0.001 par value; 65,000,000 shares authorized, 34,293,599 shares issued and 34,274,439 shares outstanding at April 30, 2016 and 33,591,882 shares issued and 33,574,963 shares outstanding at October 31, 2015.	$ 34,293	$ 33,592
Additional Paid-In Capital	264,827,307	249,807,303
Treasury Stock, at cost, 19,160 shares at April 30, 2016 and 16,919 shares at October 31, 2015.	(150,323)	(187,761)
Accumulated Deficit	(169,517,980)	(134,054,259)
Total Shareholders' Equity	95,193,297	115,598,875
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 104,300,181	$ 119,605,693

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($)	Apr. 30, 2016	Oct. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Series B Preferred stock, shares issued	0	0
Series B Preferred stock, shares outstanding	0	0
Preferred stock, liquidation preference value	$ 0	$ 0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	65,000,000	65,000,000
Common stock, shares issued	34,293,599	33,591,882
Common stock, shares outstanding	34,274,439	33,574,963
Treasury Stock, shares	19,160	16,919

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Income Statement [Abstract]
Revenue			$ 250,000
Operating Expenses
Research and Development Expenses	$ 8,758,410	$ 6,193,005	21,823,364	$ 9,813,687
General and Administrative Expenses	6,834,824	7,646,922	13,971,647	10,802,275
Total Operating Expenses	15,593,234	13,839,927	35,795,011	20,615,962
Loss from Operations	(15,593,234)	(13,839,927)	(35,545,011)	(20,615,962)
Other Income (Expense):
Interest Income	70,389	14,503	142,189	20,739
Net Changes in Fair Value of Derivative Liabilities	592	(23,236)	49,874	(287,307)
Other Expense	(197)	(6,599)	(201)	(6,599)
Net Loss before benefit for income taxes	$ (15,522,450)	$ (13,855,259)	(35,353,149)	$ (20,889,129)
Income Tax Expense			14,236
Net Loss	$ (15,522,450)	$ (13,855,259)	$ (35,367,385)	$ (20,889,129)
Net Loss per share, basic and diluted	$ (0.45)	$ (0.52)	$ (1.04)	$ (0.87)
Weighted Average Number of Shares Outstanding, Basic and Diluted	34,131,259	26,655,486	33,906,400	24,085,290

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
OPERATING ACTIVITIES
Net Loss	$ (35,367,385)	$ (20,889,129)
Adjustments to reconcile Net Loss to net cash used in operating activities:
Stock Compensation	14,361,583	9,793,777
(Gain) Loss on change in value of warrants and embedded derivative	$ (49,874)	287,307
Warrant expense		8,169
Employee Stock Purchase Plan	$ 17,257	6,909
Depreciation expense	95,124	14,148
Amortization expense of intangibles	$ 118,744	98,692
Debt conversion expense		$ 6,599
Amortization of premium on held-to-maturity investments	$ 164,284
Change in operating assets and liabilities:
Interest receivable	(19,277)
Prepaid expenses	(313,950)	$ (221,982)
Income tax receivable	1,609,349	$ 1,731,317
Other current assets	7,616
Deferred expenses	(2,390,748)	$ (1,252,556)
Security deposit	(186,019)
Accounts payable and accrued expenses	5,018,726	$ 1,305,221
Deferred rent	175,763
Net cash used in operating activities	(16,758,807)	$ (9,111,528)
INVESTING ACTIVITIES
Purchases of held-to-maturity investments	(7,651,121)
Proceeds from maturities and redemptions on held-to-maturity investments	3,430,000
Purchase of property and equipment	(739,275)	$ (10,298)
Cost of intangible assets	(456,437)	(333,704)
Net cash used in investing activities	$ (5,416,833)	(344,002)
FINANCING ACTIVITIES
Proceeds from exercise of options		58,400
Proceeds from exercise of warrants	$ 614,368	239,593
Net proceeds of issuance of Common Stock		38,110,072
Tax withholdings paid related to net share settlement of equity awards	$ (34,025)	$ (618,677)
Treasury stock purchased to pay employee withholdings on equity awards	(1,393,595)
Treasury stock sold to pay for employee tax withholdings on equity awards	1,351,670
Net cash provided by financing activities	538,418	$ 37,789,388
Net (decrease) increase in cash and cash equivalents	(21,637,222)	28,333,858
Cash and cash equivalents at beginning of period	66,561,683	17,606,860
Cash and cash equivalents at end of period	44,924,461	$ 45,940,718
Supplemental Disclosures of Cash Flow Information
Cash paid for taxes	50,000
Supplemental Schedule of Non-cash Investing and Financing Activities
Accrued expenses from consultants settled with Common Stock	55,000
Conversion of notes payable into common stock	$ 29,549	$ 39,932

Nature of Operations

Nature of Operations	6 Months Ended
	Apr. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. NATURE OF OPERATIONS Advaxis, Inc. (“Advaxis” or the “Company”) is a clinical stage biotechnology company focused on the discovery, development and commercialization of proprietary Lm Listeria monocytogenes Lm Lm Axalimogene filolisbac (“AXAL”) is our lead Lm AXAL has received United States Food and Drug Administration (“FDA”) orphan drug designation for three HPV-associated cancers: cervical, head and neck, and anal cancer, and has received European Medicines Agency (“EMA”) orphan drug designation for anal cancer. It is being evaluated in Company-sponsored trials executed under an Investigational New Drug (“IND”) which include the following: (i) a Phase 1/2 clinical trial alone and in combination with MedImmune, LLC’s (“MedImmune”) investigational anti-PD-L1 immune checkpoint inhibitor, durvalumab (MEDI4736), in patients with previously treated metastatic cervical cancer and HPV-associated head and neck cancer; (ii) a Phase 1/2 study evaluating higher doses and repeat cycles of AXAL in patients with recurrent cervical cancer; (iii) a single arm Phase 2 monotherapy study in patients with metastatic anal cancer; and (iv) a Phase 2 study in collaboration with and funded by Global BioPharma Inc. (“GBP”), under a development and commercialization license agreement applicable to Asia, of AXAL in HPV-associated non-small cell lung cancer. In addition to the Company-sponsored trials, AXAL is also being evaluated in three ongoing investigator-initiated clinical trials as follows: locally advanced cervical cancer (GOG-0265), head and neck cancer (Mount Sinai & Baylor College of Medicine), and anal cancer (Brown University). ADXS-PSA is the Company’s Lm ADXS-HER2 is the Company’s Lm Lm In October of 2015, the Company received notification from the FDA that the INDs for AXAL were put on clinical hold in response to its submission of a safety report to the FDA. The clinical hold also included the INDs for ADXS-PSA and ADXS-HER2. Following discussions with the FDA and in accordance with their recommendations, the Company agreed to implement certain risk mitigation measures, including revised study protocol inclusion / exclusion criteria, post-administration antibiotic treatment and patient surveillance and monitoring measures. In December 2015, the FDA notified the Company that the hold had been lifted with respect to its INDs. The Company has focused its development efforts on establishing a drug development pipeline that incorporates this technology into therapeutic cancer immunotherapies, with clinical trials currently targeting HPV-associated cancer (cervical cancer, head and neck cancer and anal cancer), prostate cancer, and HER2-expressing cancers. Although no immunotherapies have been commercialized to date, the Company continues to invest in research and development to advance the technology and make it available to patients with many different types of cancer. Pipeline development and the further exploration of the technology for advancement entails risk and expense. The Company anticipates that its ongoing operational costs will increase significantly as it continues conducting and expanding its clinical development program. In addition to its existing single antigen vectors that target one tumor associated antigen, the Company is actively engaged in the development of new constructs that will address multiple targets that are common to tumor types, as well as mutation-associated neo-epitopes that are specific to an individual patient’s tumor. Lastly, the Company is developing certain internal capabilities to produce supplies for its neoepitope and its other programs. Liquidity and Financial Condition The Company’s products are being developed and have not generated significant revenues. As a result, the Company has suffered recurring losses. These losses are expected to continue for an extended period of time. During fiscal 2015, the Company raised an aggregate of $119.7 million in equity offerings and has approximately $94.6 million in cash, cash equivalents and investments as of April 30, 2016. The Company believes its current cash position is sufficient to fund its business plan approximately through calendar year end 2017. The estimate is based on assumptions that may prove to be wrong, and the Company could use available capital resources sooner than currently expected. Because of the numerous risks and uncertainties associated with the development and commercialization of its product candidates, the Company is unable to estimate the amount of increased capital outlays and operating expenses associated with completing the development of its current product candidates. The Company recognizes it may need to raise additional capital in order to continue to execute its business plan. There is no assurance that additional financing will be available when needed or that management will be able to obtain financing on terms acceptable to the Company or whether the Company will become profitable and generate positive operating cash flow. If the Company is unable to raise sufficient additional funds, it will have to scale back its business plan.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Basis of Presentation	6 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Basis of Presentation	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION Basis of Presentation - Unaudited Interim Financial Information The accompanying unaudited interim condensed financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, and in accordance with the rules and regulations of the SEC with respect to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim condensed financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to represent a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited interim condensed financial statements should be read in conjunction with the financial statements of the Company for the year ended October 31, 2015 and notes thereto contained in the Company’s annual report on Form 10-K for the year ended October 31, 2015, as filed with the SEC on January 8, 2016. The information presented in the accompanying unaudited condensed balance sheet as of October 31, 2015 has been derived from the Company’s October 31, 2015 audited financial statements. Revenue Recognition The Company is expected to derive the majority of its revenue from patent licensing. In general, these revenue arrangements provide for the payment of contractually determined fees in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company. The intellectual property rights granted may be perpetual in nature, or upon the final milestones being met, or can be granted for a defined, relatively short period of time, with the licensee possessing the right to renew the agreement at the end of each contractual term for an additional minimum upfront payment. The Company recognizes licensing fees when there is persuasive evidence of a licensing arrangement, fees are fixed or determinable, delivery has occurred and collectability is reasonably assured. An allowance for doubtful accounts is established based on the Company’s best estimate of the amount of probable credit losses in the Company’s existing license fee receivables, using historical experience. The Company reviews its allowance for doubtful accounts periodically. Past due accounts are reviewed individually for collectability. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. To date, this is yet to occur. If product development is successful, the Company will recognize revenue from royalties based on licensees’ sales of its products or products using its technologies. Royalties are recognized as earned in accordance with the contract terms when royalties from licensees can be reasonably estimated and collectability is reasonably assured. If royalties cannot be reasonably estimated or collectability of a royalty amount is not reasonably assured, royalties are recognized as revenue when the cash is received. The Company recognizes revenue from milestone payments received under collaboration agreements when earned, provided that the milestone event is substantive, its achievability was not reasonably assured at the inception of the agreement, the Company has no further performance obligations relating to the event and collection is reasonably assured. If these criteria are not met, the Company recognizes milestone payments ratably over the remaining period of the Company’s performance obligations under the collaboration agreement. All such recognized are included in collaborative licensing and development revenue in the Company’s statements of operations. Estimates The preparation of financial statements in accordance with U.S. GAAP involves the use of estimates and assumptions that affect the recorded amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results may differ substantially from these estimates. Significant estimates include the fair value and recoverability of the carrying value of intangible assets (patents and licenses), the fair value of stock options, the fair value of embedded conversion features, warrants and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, based on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results may differ from estimates. Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported net loss. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of April 30, 2016 and October 31, 2015, the Company had approximately $39.6 million and $62.8 million, respectively, in cash equivalents. Concentration of Credit Risk The Company maintains its cash in bank deposit accounts (checking) that at times exceed federally insured limits. Approximately $44.1 million is subject to credit risk at April 30, 2016. However, these cash balances are maintained at creditworthy financial institutions. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk. Fair Value of Financial Instruments The carrying amounts of financial instruments, including cash, accounts payable and accrued expenses approximated fair value as of the balance sheet date presented, because of the relatively short maturity dates on these instruments. The carrying amounts of the financing arrangements issued approximate fair value as of the balance sheet date presented, because interest rates on these instruments approximate market interest rates after consideration of stated interest rates, anti-dilution protection and associated warrants. Net Loss per Share Basic net income or loss per common share is computed by dividing net income or loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share give effect to dilutive options, warrants, convertible debt and other potential Common Stock outstanding during the period. In the case of a net loss the impact of the potential Common Stock resulting from warrants, outstanding stock options and convertible debt are not included in the computation of diluted loss per share, as the effect would be anti-dilutive. In the case of net income, the impact of the potential Common Stock resulting from these instruments that have intrinsic value are included in the diluted earnings per share. The table sets forth the number of potential shares of Common Stock that have been excluded from diluted net loss per share. As of April 30, 2016 2015 Warrants 3,110,575 3,862,273 Stock Options 3,351,794 798,357 Convertible Debt (using the if-converted method) - 1,576 Total 6,462,369 4,662,206 Stock Based Compensation The Company has an equity plan which allows for the granting of stock options to its employees, directors and consultants for a fixed number of shares with an exercise price equal to the fair value of the shares at date of grant. The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award. For employees and directors, the fair value of the award is measured on the grant date and for non-employees, the fair value of the award is generally measured based on contractual terms. The fair value amount is then recognized over the requisite service period, usually the vesting period, in both research and development expenses and general and administrative expenses on the statement of operations, depending on the nature of the services provided by the employees or consultants. The process of estimating the fair value of stock-based compensation awards and recognizing stock-based compensation cost over their requisite service period involves significant assumptions and judgments. The Company estimates the fair value of stock option awards on the date of grant using the Black Scholes Model (“BSM”) for the remaining awards, which requires that the Company makes certain assumptions regarding: (i) the expected volatility in the market price of its Common Stock; (ii) dividend yield; (iii) risk-free interest rates; and (iv) the period of time employees are expected to hold the award prior to exercise (referred to as the expected holding period). As a result, if the Company revises its assumptions and estimates, stock-based compensation expense could change materially for future grants. The Company accounts for stock-based compensation using fair value recognition and records stock-based compensation as a charge to earnings net of the estimated impact of forfeited awards. As such, the Company recognizes stock-based compensation cost only for those stock-based awards that are estimated to ultimately vest over their requisite service period, based on the vesting provisions of the individual grants. Recent Accounting Pronouncements In May 2014, as part of its ongoing efforts to assist in the convergence of GAAP and International Financial Reporting Standards, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers - Deferral of the Effective Date Principal versus Agent Considerations Identifying Performance Obligations and Licensing Narrow-Scope Improvements and Practical Expedients, In January 2015, the FASB issued ASU 2015-01, Income Statement —Extraordinary and Unusual Items In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”). The standard amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 will be effective beginning in the first quarter of 2019. Early adoption of ASU 2016-02 is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting ASU 2016-02 on the Company’s financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material impact on the accompanying condensed financial statements.

Investments

Investments	6 Months Ended
	Apr. 30, 2016
Investments
Investments	3. INVESTMENTS The following table summarizes the Company’s investment securities at amortized cost as of April 30, 2016 and October 31, 2015: April 30, 2016 Amortized cost, as adjusted Gross unrealized holding gains Gross unrealized holding losses Estimated fair value Short-term investments: Certificates of Deposit $ 13,331,551 $ - $ - $ 13,331,551 Domestic Governmental Agency Loans 27,808,036 2,642 843 27,809,835 U.S Treasury Notes 8,511,745 3,030 - 8,514,775 Total short-term investment securities $ 49,651,332 $ 5,672 $ 843 $ 49,656,161 October 31, 2015 Amortized cost, as adjusted Gross unrealized holding gains Gross unrealized holding losses Estimated fair value Short-term investments: Certificates of Deposit $ 12,628,880 $ - $ - $ 12,628,880 Domestic Governmental Agency Loans 27,951,633 5,827 5,979 27,951,481 U.S Treasury Notes 5,013,982 700 262 5,014,420 Total short-term investment securities $ 45,594,495 $ 6,527 $ 6,241 $ 45,594,781 All of the Company’s investments mature within the next 12 months.

Property and Equipment

Property and Equipment	6 Months Ended
	Apr. 30, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	4. PROPERTY AND EQUIPMENT Property and equipment consists of the following: April 30, 2016 October 31, 2015 Leasehold Improvements $ 267,726 $ 237,209 Laboratory Equipment 848,956 532,249 Furniture and Fixtures 351,283 331,500 Computer Equipment 82,010 48,745 Construction Progress 419,541 80,538 Total Property and Equipment 1,969,516 1,230,241 Accumulated Depreciation and Amortization (238,121 ) (142,997 ) Net Property and Equipment $ 1,731,395 $ 1,087,244 Depreciation expense for the three and six months ended April 30, 2016 and 2015 was $49,090, $95,124, $7,246 and $14,148, respectively.

Intangible Assets

Intangible Assets	6 Months Ended
	Apr. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. INTANGIBLE ASSETS Pursuant to our license agreement with the University of Pennsylvania (“Penn”), the Company is billed actual patent expenses as they are passed through from Penn and are billed directly from our patent attorney. The following is a summary of intangible assets as of the end of the following fiscal periods: April 30, 2016 October 31, 2015 License $ 776,992 $ 651,992 Patents 4,229,930 3,898,493 Total intangibles 5,006,922 4,550,485 Accumulated Amortization (1,314,196 ) (1,195,452 ) Intangible Assets $ 3,692,726 $ 3,355,033 The expirations of the existing patents range from 2016 to 2032 but the expirations can be extended based on market approval if granted and/or based on existing laws and regulations. Capitalized costs associated with patent applications that are abandoned without future value are charged to expense when the determination is made not to pursue the application. No patent applications with future value were abandoned or expired and charged to expense in the six months ended April 30, 2016 or 2015. Amortization expense for licensed technology and capitalized patent costs is included in research and development expenses and aggregated $60,798, $118,744, $50,389 and $98,692 for the three and six months ended April 30, 2016 and 2015, respectively. Estimated amortization expense for the next five years is as follows: Year ended October 31, 2016 (Remaining) $ 122,000 2017 244,000 2018 244,000 2019 244,000 2020 244,000

Accrued Expenses

Accrued Expenses	6 Months Ended
	Apr. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses	6. ACCRUED EXPENSES: The following table represents the major components of accrued expenses: April 30, 2016 October 31, 2015 Salaries and Other Compensation $ 1,482,819 $ 1,698,371 Vendors 1,230,923 1,000,579 Professional Fees 450,876 272,058 Withholding Taxes Payable 171,887 220,933 $ 3,336,505 $ 3,191,941

Short-Term Convertible Notes &

Short-Term Convertible Notes & Fair Value Of Embedded Derivative	6 Months Ended
	Apr. 30, 2016
Debt Disclosure [Abstract]
Short-Term Convertible Notes & Fair Value Of Embedded Derivative	7. SHORT-TERM CONVERTIBLE NOTES & FAIR VALUE OF EMBEDDED DERIVATIVE During April 2016, the last remaining promissory note of $29,549 was converted into 1,481 shares of common stock at the $18.75 conversion price per the promissory note agreement.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Apr. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	8. DERIVATIVE INSTRUMENTS Warrants A summary of changes in warrants for the six months ended April 30, 2016 is as follows: Number of Weighted-Average Warrants Exercise Price Outstanding Warrants at October 31, 2015: 3,241,466 $ 5.07 Issued - $ - Exercised (122,661 ) $ 5.01 Expired (8,230 ) $ 18.75 Outstanding Warrants at April 30, 2016 3,110,575 $ 5.04 At April 30, 2016, the Company had approximately 3.09 million of its total 3.11 million outstanding warrants classified as equity (equity warrants). At October 31, 2015, the Company had approximately 3.22 million of its total 3.24 million outstanding warrants classified as equity (equity warrants). At issuance, equity warrants are recorded at their relative fair values, using the Relative Fair Value Method, in the shareholders’ equity section of the balance sheet. The equity warrants can only be settled through the issuance of shares and are not subject to anti-dilution provisions. Warrant Liability At April 30, 2016, the Company had approximately 18,000 of its total approximately 3.11 million outstanding warrants classified as liability warrants (liability warrants). As of October 31, 2015, the Company had approximately 18,000 of its total approximately 3.24 million total warrants classified as liabilities (liability warrants). The Company utilizes the BSM to calculate the fair value of these warrants at issuance and at each subsequent reporting date. The liability warrants contain a cash settlement provision in the event of a fundamental transaction (as defined in the Common Stock purchase warrant). Any changes in the fair value of the warrant liability (i.e. - the total fair value of all outstanding liability warrants at the balance sheet date) between reporting periods will be reported on the statement of operations. At April 30, 2016 and October 31, 2015, the fair value of the warrant liability was $39,337 and $89,211, respectively. For the three months ended April 30, 2016 and 2015, the Company reported a gain of $592 and a loss of $23,236, respectively, due to changes in the fair value of the warrant liability. For the six months ended April 30, 2016 and 2015, the Company reported a gain of $49,874 and a loss of $287,307, respectively, due to changes in the fair value of the warrant liability. In determining the fair value of the warrant liability at April 30, 2016 and October 31, 2015, the Company used the following inputs in its BSM: April 30, 2016 October 31, 2015 Exercise Price $ 10.63-18.75 $ 10.63-18.75 Stock Price $ 7.74 $ 11.09 Expected term 1.02-1.26 years 1.52-1.76 years Expected Volatility 98.24%-98.45 % 93.87%-95.00 % Risk Free Interest Rate 0.56 % .075 % Exercise of Warrants During the six months ended April 30, 2016, warrants to purchase 122,661 shares of common stock were exercised, which resulted in cash proceeds of $614,368. As of April 30, 2016, there were outstanding warrants to purchase 3,110,575 shares of the Company’s Common Stock with exercise prices ranging from $3.75 to $18.75 per share. As of April 30, 2016, the aggregate intrinsic value of outstanding warrants was approximately $8,476,000.

Share Based Compensation

Share Based Compensation	6 Months Ended
	Apr. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share Based Compensation	9. SHARE BASED COMPENSATION Employment Agreements Management voluntarily purchases restricted stock directly from the Company at market price. The respective stock purchases occur on the last trading day of each month. This voluntary election is outlined in each of Daniel J. O’Connor, Chief Executive Officer and President, Gregory T. Mayes, Executive Vice President, Chief Operating Officer, Robert G. Petit, Executive Vice President, Chief Scientific Officer, and Sara M. Bonstein, Senior Vice President, Chief Financial Officer and Secretary, (each an “Executive”), employment agreements. The table below reflects the purchases of each Executive: ANNUALIZED Annual Amount For the Six Months Ended April 30, 2016 to be Purchased Gross Purchase Net Purchase Executive $ $ # of shares $ # of shares Daniel J. O’Connor $ 116,410 $ 54,998 6,948 $ 36,033 4,492 Gregory T. Mayes $ 27,794 $ 13,589 1,692 $ 10,400 1,293 Robert G. Petit $ 28,704 $ 13,922 1,739 $ 9,886 1,227 Sara M. Bonstein $ 25,420 $ 12,167 1,528 $ 9,333 1,169 For the three months ended April 30, 2016, the Company recorded stock compensation expense of $56,926 in the statement of operations for the portion of management salaries voluntarily paid in stock representing 8,028 shares of its Common Stock (5,785 shares on a net basis after employee payroll taxes). For the three months ended April 30, 2015, the Company recorded a similar stock compensation expense of $43,925 in the statement of operations representing 3,474 shares of its Common Stock (3,129 shares on a net basis after employee payroll taxes). For the six months ended April 30, 2016, the Company recorded stock compensation expense of $121,257 in the statement of operations for the portion of management salaries voluntarily paid in stock representing 15,088 shares of its Common Stock (10,732 shares on a net basis after employee payroll taxes). For the six months ended April 30, 2015, the Company recorded a similar stock compensation expense of $90,088 in the statement of operations representing 11,305 shares of its Common Stock (10,182 shares on a net basis after employee payroll taxes). From 2013 to present, in addition to the purchases of Common Stock set forth in the above table, Mr. O’Connor has also purchased an additional 164,909 shares of Common Stock out of his personal funds at the then market price for an aggregate consideration of $689,004. These purchases consisted of the conversion of amounts due to Mr. O’Connor under a promissory note given by Mr. O’Connor to the Company in 2012 of approximately $66,500 for 21,091 shares, 2013 base salary which he elected to receive in Common Stock of approximately $186,555 for 34,752 shares (21,489 on a net basis after employee payroll taxes), 2013 and 2014 cash bonuses voluntarily requested to receive in equity of $214,359 for 62,064 shares (57,990 on a net basis after employee payroll taxes), fiscal 2014 voluntary request to purchase stock directly from the Company at market price purchases of $68,750 for 21,687 shares (15,950 on a net basis after employee payroll taxes), fiscal 2015 voluntary request to purchase stock directly from the Company at market price purchases of $88,840 for 8,482 shares (7,556 on a net basis after employee payroll taxes), and purchases of the Company’s Common Stock in the October 2013 and March 2014 public offerings of 13,500 shares for $54,000 and 3,333 shares for $10,000. Executives were entitled to receive a performance-based year-end cash bonus. For the six months ended April 30, 2015, the executive officers voluntarily elected to receive a portion of their year-end performance bonus (with a total fair value of approximately $418,000) in the aggregate amount of 125,411 shares of the Company’s Common Stock (98,603 on a net basis after employee payroll taxes). Restricted Stock Units (RSUs) A summary of the Company’s RSU activity and related information for the six months ended April 30, 2016 is as follows: Number of Weighted-Average RSUs Grant Date Fair Value Balance at October 31, 2015: 1,069,335 $ 10.89 Granted 288,297 $ 8.40 Vested (449,467 ) $ 7.76 Cancelled (99,980 ) $ 19.34 Balance at April 30, 2016 808,185 $ 10.69 As of April 30, 2016, there was approximately $7,027,000 of unrecognized compensation cost related to non-vested RSUs, which is expected to be recognized over a remaining weighted average vesting period of approximately 1.15 years. As of April 30, 2016, the aggregate intrinsic value of non-vested RSUs was approximately $814,000. Employee Stock Awards Common Stock issued to executives and employees related to vested incentive retention awards, employment inducements and employee excellence awards totaled 134,239 and 129,583 shares (83,665 shares on a net basis after employee taxes) for the three months ended April 30, 2016 and 2015, respectively. Total stock compensation expense associated with these awards for the three months ended April 30, 2016 and 2015 was $876,228 and $1,138,471, respectively. Common Stock issued to executives and employees related to vested incentive retention awards, employment inducements and employee excellence awards totaled 372,368 shares and 163,678 shares (111,231 shares on a net basis after employee taxes) during the six months ended April 30, 2016 and 2015, respectively. Total stock compensation expense associated with these awards for the six months ended April 30, 2016 and 2015 was $2,733,304 and $1,272,170, respectively. Furthermore, non-executive employees were entitled to receive a performance-based year-end cash bonus. Several non-executive employees voluntarily requested to be paid all or a portion of their cash bonus in the Company’s Common Stock instead of cash. During the six months ended April 30, 2016, the total fair value of these equity purchases were $102,022, or 9,150 shares of the Company’s Common Stock. During the six months ended April 30, 2015, the total fair value of these equity purchases were $67,671, or 20,322 shares of the Company’s Common Stock (14,300 on a net basis after employee payroll taxes). Director Stock Awards Common stock issued to Directors for compensation related to board and committee membership totaled 61,767 and 23,955 shares for the three months ended April 30, 2016 and 2015, respectively. Total stock compensation expense associated with these awards for the three months ended April 30, 2016 and 2015 was $311,205 and $96,540, respectively. Common stock issued to Directors for compensation related to board and committee membership totaled 93,534 and 215,895 shares (202,468 shares on a net basis after taxes) for the six months ended April 30, 2016 and 2015, respectively. Total stock compensation expense associated with these awards for the six months ended April 30, 2016 and 2015 was $622,410 and $703,079, respectively. Stock Options A summary of changes in the stock option plan for the six months ended April 30, 2016 is as follows: Number of Weighted-Average Options Exercise Price Outstanding at October 31, 2015: 1,981,939 $ 13.78 Granted 1,385,000 $ 12.81 Exercised - $ - Expired (15,145 ) $ 29.69 Outstanding at April 30, 2016 3,351,794 $ 13.31 Vested and Exercisable at April 30, 2016 1,353,109 $ 13.54 Total compensation cost related to the Company’s outstanding stock options, recognized in the statement of operations for the three months ended April 30, 2016 and 2015, was $3,280,517 and $4,717,831, respectively. For the six months ended April 30, 2016 and 2015, compensation cost related to the Company’s outstanding stock options was $9,952,502 and $4,864,686, respectively. During the six months ended April 30, 2016, 1,385,000 options were granted with a total grant date fair value of $14,837,970. During the six months ended April 30, 2015, 400,798 options were granted with a total grant date fair value of $4,656,000. As of April 30, 2016, there was approximately $24,604,000 of unrecognized compensation cost related to non-vested stock option awards, which is expected to be recognized over a remaining weighted average vesting period of approximately 1.45 years. As of April 30, 2016, the aggregate intrinsic value of vested and exercisable options was approximately $57,000. In determining the fair value of the stock options granted during the six months ended April 30, 2016 and 2015, the Company used the following inputs in its BSM: Six Months Ended April 30, 2016 April 30, 2015 Expected Term 5.51-6.51 years 5-10 years Expected Volatility 109.23%-115.25 % 110.25%-154.54 % Expected Dividends 0 % 0 % Risk Free Interest Rate 1.65%-2.00 % 1.41%-2.27 % Shares Issued to Consultants During the three months ended April 30, 2016, 65,893 shares of Common Stock valued at $570,001 were issued to consultants for services, of which $302,300 represented shares issued for amounts previously accrued. The Company recorded a liability on its balance sheet for $40,000 for shares earned pursuant to consulting agreements but not delivered. During the three months ended April 30, 2015, 123,650 shares of Common Stock valued at $1,585,907 were issued to consultants for services. The common stock share values were based on the dates the shares vested. During the six months ended April 30, 2016, 89,017 shares of Common Stock valued at $845,088 were issued to consultants for services, of which $55,000 represented shares issued for amounts previously accrued. The Company recorded a liability on its balance sheet for $40,000 for shares earned pursuant to consulting agreements but not delivered. During the six months ended April 30, 2015, 243,650 shares of Common Stock valued at $2,377,907 were issued to consultants for services. The common stock share values were based on the dates the shares vested. The following table summarizes share-based compensation expense included in the Statement of Operations by expense category for the six months ended April 30, 2016 and 2015, respectively: Three Months Ended April 30, Six Months Ended April 30, 2016 2015 2016 2015 Research and development $ 967,705 $ 2,077,643 $ 6,074,343 $ 2,391,563 General and administrative 3,864,872 5,505,029 8,287,240 7,402,214 Total $ 4,832,577 $ 7,582,672 $ 14,361,583 $ 9,793,777

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Apr. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. COMMITMENTS AND CONTINGENCIES Legal Proceedings Knoll On August 21, 2015, Knoll Capital Management L.P. (“KCM”) filed a complaint against the Company in the Delaware Court of Chancery. The complaint alleges the existence of an oral agreement for the purchase by Knoll from the Company of 1,666,666.67 shares of Company stock at a price of $3.00 per share. KCM alleges that the Company breached this alleged agreement and seeks specific performance or, alternatively, money damages for breach of contract. KCM served the Company with the complaint on August 31, 2015, and then served an amended complaint on October 16, 2015. The Company moved to dismiss the amended complaint on October 26, 2015 and that motion was denied on January 29, 2016. The Company filed an answer to the amended complaint on February 12, 2016. The Company intends to defend itself vigorously. Larkin and Bono On July 27, 2015, a derivative complaint was filed by a purported Company shareholder in the Court of Chancery of the State of Delaware against certain of the Company’s officers and directors styled Timothy Larkin v. O’Connor, et al., Case No. 11338-CB (Del. Ch. July 27, 2015) (the “Larkin Action”). The Larkin Action was brought derivatively on behalf of the Company, which is also named as a nominal defendant. On August 20, 2015, a related derivative complaint was filed by a purported Company shareholder in the United States District Court for the District of New Jersey against the same defendants styled David Bono v. O’Connor, et al., Case No. 3:15-CV-006326-FLW-DEA (D.N.J. Aug. 20, 2015) (the “Bono Action”). Both complaints are based on general allegations related to certain stock options granted to the individual defendants and generally allege counts for breaches of fiduciary duty and unjust enrichment. The Bono complaint alleges additional claims for violation of Section 14(a) of the Securities Exchange Act of 1934 and for waste of corporate assets. Both complaints seek damages and costs of an unspecified amount, disgorgement of compensation obtained by the individual defendants, and injunctive relief. Defendants filed motions to dismiss in both actions. On March 22, 2016, the Delaware Court of Chancery issued a partial ruling on the motion to dismiss in the Larkin Action. The court denied the motion to dismiss as to the breach of fiduciary duty and unjust enrichment claim against the three members of the Compensation Committee, but expressly reserved ruling on the disclosure claim against all defendants and the breach of fiduciary duty and unjust enrichment claims against the other eight individual defendants. On May 23, 2016, the United States District Court for the District of New Jersey issued an opinion and order granting in part and denying in part defendants’ motion to dismiss. The court denied the motion to dismiss as to the breach of fiduciary duty claim and unjust enrichment claim against the three members of the Compensation Committee, but dismissed without prejudice the breach of fiduciary duty and unjust enrichment claims against the other eight individual defendants. The court dismissed without prejudice the Section 14(a) disclosure claim and waste claims against all defendants. At this stage of each proceeding, the Company does not express any opinion as to the likely outcome, but the Company intends to defend each action vigorously. The Company is from time to time involved in legal proceedings in the ordinary course of its business. The Company does not believe that any of these claims and proceedings against it is likely to have, individually or in the aggregate, a material adverse effect on its financial condition or results of operations. Clinical Trial Collaboration Agreement On February 3, 2016, the Company entered into a Co-Development and Commercialization Agreement (the “Agreement”) with Especificos Stendhal SA de CV (“Stendhal”), for Advaxis’ lead Lm Operating Leases The Company’s corporate offices are currently located at 305 College Road East, Princeton, New Jersey 08540. On February 1, 2016, the Company entered into an amendment to its office lease. The amendment increased the leased space by approximately 25,000 square feet to a total of approximately 44,000 square feet. The additional space will allow the Company to expand manufacturing, testing, and product development capabilities, accelerate execution of pipeline related projects, strengthen the supply chain, and continue to ensure reliable and cost competitive supply of product. The lease term was extended by three years and is now scheduled to expire on November 30, 2025. The Company paid an additional security deposit of $100,061. The amended lease requires an annual rent of approximately $893,000 with annual increases in increments between 2% and 11% throughout the remainder of the lease. The lease amendment contains a six month rent abatement period that started in February 2016, and a reduced lease rate for four months starting in August 2016. Rent expense will be recognized on a straight line basis over the term of the lease. The Company plans to continue to rent necessary offices and laboratories to support its business. Future minimum payments of the Company’s operating leases are as follows: Year ended October 31, 2016 (Remaining) $ 250,046 2017 893,452 2018 954,868 2019 1,014,888 2020 1,129,925 Thereafter 6,474,860

Fair Value

Fair Value	6 Months Ended
	Apr. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value	11. FAIR VALUE The authoritative guidance for fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or the most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact. The guidance describes a fair value hierarchy based on the levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: ● Level 1 — Quoted prices in active markets for identical assets or liabilities. ● Level 2— Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or corroborated by observable market data or substantially the full term of the assets or liabilities. ● Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the value of the assets or liabilities. The following table provides the liabilities carried at fair value measured on a recurring basis as of April 30, 2016 and October 31, 2015: April 30, 2016 Level 1 Level 2 Level 3 Total Common stock warrant liability, warrants exercisable at $10.63 - $18.75 from May 2016 through August 2017 $ - $ - $ 39,337 $ 39,337 October 31, 2015 Level 1 Level 2 Level 3 Total Common stock warrant liability, warrants exercisable at $10.63 - $18.75 from November 2015 through August 2017 $ - $ - $ 89,211 $ 89,211 Common stock warrant liability: April 30, 2016 Beginning balance: October 31, 2015 $ 89,211 Change in fair value (49,874 ) Balance at April 30, 2016 $ 39,337

Subsequent Events

Subsequent Events	6 Months Ended
	Apr. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	12. SUBSEQUENT EVENTS On May 2, 2016, the Company issued 4,687 shares of Common Stock to the Board of Directors, which represents a portion of their quarterly retainer fees. On May 4, 2016, the Company issued 20,550 shares of Common Stock to accredited investors as payment for consulting services. From May 1, 2016 to the date the financial statements were issued, the Company issued 23,750 shares of Common Stock, which represents inducement grants to employees.

Summary of Significant Accoun18

Summary of Significant Accounting Policies and Basis of Presentation (Policies)	6 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation - Unaudited Interim Financial Information	Basis of Presentation - Unaudited Interim Financial Information The accompanying unaudited interim condensed financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, and in accordance with the rules and regulations of the SEC with respect to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim condensed financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to represent a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited interim condensed financial statements should be read in conjunction with the financial statements of the Company for the year ended October 31, 2015 and notes thereto contained in the Company’s annual report on Form 10-K for the year ended October 31, 2015, as filed with the SEC on January 8, 2016. The information presented in the accompanying unaudited condensed balance sheet as of October 31, 2015 has been derived from the Company’s October 31, 2015 audited financial statements.
Revenue Recognition	Revenue Recognition The Company is expected to derive the majority of its revenue from patent licensing. In general, these revenue arrangements provide for the payment of contractually determined fees in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company. The intellectual property rights granted may be perpetual in nature, or upon the final milestones being met, or can be granted for a defined, relatively short period of time, with the licensee possessing the right to renew the agreement at the end of each contractual term for an additional minimum upfront payment. The Company recognizes licensing fees when there is persuasive evidence of a licensing arrangement, fees are fixed or determinable, delivery has occurred and collectability is reasonably assured. An allowance for doubtful accounts is established based on the Company’s best estimate of the amount of probable credit losses in the Company’s existing license fee receivables, using historical experience. The Company reviews its allowance for doubtful accounts periodically. Past due accounts are reviewed individually for collectability. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. To date, this is yet to occur. If product development is successful, the Company will recognize revenue from royalties based on licensees’ sales of its products or products using its technologies. Royalties are recognized as earned in accordance with the contract terms when royalties from licensees can be reasonably estimated and collectability is reasonably assured. If royalties cannot be reasonably estimated or collectability of a royalty amount is not reasonably assured, royalties are recognized as revenue when the cash is received. The Company recognizes revenue from milestone payments received under collaboration agreements when earned, provided that the milestone event is substantive, its achievability was not reasonably assured at the inception of the agreement, the Company has no further performance obligations relating to the event and collection is reasonably assured. If these criteria are not met, the Company recognizes milestone payments ratably over the remaining period of the Company’s performance obligations under the collaboration agreement. All such recognized are included in collaborative licensing and development revenue in the Company’s statements of operations.
Estimates	Estimates The preparation of financial statements in accordance with U.S. GAAP involves the use of estimates and assumptions that affect the recorded amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results may differ substantially from these estimates. Significant estimates include the fair value and recoverability of the carrying value of intangible assets (patents and licenses), the fair value of stock options, the fair value of embedded conversion features, warrants and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, based on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results may differ from estimates.
Reclassifications	Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported net loss.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of April 30, 2016 and October 31, 2015, the Company had approximately $39.6 million and $62.8 million, respectively, in cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk The Company maintains its cash in bank deposit accounts (checking) that at times exceed federally insured limits. Approximately $44.1 million is subject to credit risk at April 30, 2016. However, these cash balances are maintained at creditworthy financial institutions. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of financial instruments, including cash, accounts payable and accrued expenses approximated fair value as of the balance sheet date presented, because of the relatively short maturity dates on these instruments. The carrying amounts of the financing arrangements issued approximate fair value as of the balance sheet date presented, because interest rates on these instruments approximate market interest rates after consideration of stated interest rates, anti-dilution protection and associated warrants.
Net Loss per Share	Net Loss per Share Basic net income or loss per common share is computed by dividing net income or loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share give effect to dilutive options, warrants, convertible debt and other potential Common Stock outstanding during the period. In the case of a net loss the impact of the potential Common Stock resulting from warrants, outstanding stock options and convertible debt are not included in the computation of diluted loss per share, as the effect would be anti-dilutive. In the case of net income, the impact of the potential Common Stock resulting from these instruments that have intrinsic value are included in the diluted earnings per share. The table sets forth the number of potential shares of Common Stock that have been excluded from diluted net loss per share. As of April 30, 2016 2015 Warrants 3,110,575 3,862,273 Stock Options 3,351,794 798,357 Convertible Debt (using the if-converted method) - 1,576 Total 6,462,369 4,662,206
Stock Based Compensation	Stock Based Compensation The Company has an equity plan which allows for the granting of stock options to its employees, directors and consultants for a fixed number of shares with an exercise price equal to the fair value of the shares at date of grant. The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award. For employees and directors, the fair value of the award is measured on the grant date and for non-employees, the fair value of the award is generally measured based on contractual terms. The fair value amount is then recognized over the requisite service period, usually the vesting period, in both research and development expenses and general and administrative expenses on the statement of operations, depending on the nature of the services provided by the employees or consultants. The process of estimating the fair value of stock-based compensation awards and recognizing stock-based compensation cost over their requisite service period involves significant assumptions and judgments. The Company estimates the fair value of stock option awards on the date of grant using the Black Scholes Model (“BSM”) for the remaining awards, which requires that the Company makes certain assumptions regarding: (i) the expected volatility in the market price of its Common Stock; (ii) dividend yield; (iii) risk-free interest rates; and (iv) the period of time employees are expected to hold the award prior to exercise (referred to as the expected holding period). As a result, if the Company revises its assumptions and estimates, stock-based compensation expense could change materially for future grants. The Company accounts for stock-based compensation using fair value recognition and records stock-based compensation as a charge to earnings net of the estimated impact of forfeited awards. As such, the Company recognizes stock-based compensation cost only for those stock-based awards that are estimated to ultimately vest over their requisite service period, based on the vesting provisions of the individual grants.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, as part of its ongoing efforts to assist in the convergence of GAAP and International Financial Reporting Standards, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers - Deferral of the Effective Date Principal versus Agent Considerations Identifying Performance Obligations and Licensing Narrow-Scope Improvements and Practical Expedients, In January 2015, the FASB issued ASU 2015-01, Income Statement —Extraordinary and Unusual Items In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”). The standard amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 will be effective beginning in the first quarter of 2019. Early adoption of ASU 2016-02 is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting ASU 2016-02 on the Company’s financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material impact on the accompanying condensed financial statements.

Summary of Significant Accoun19

Summary of Significant Accounting Policies and Basis of Presentation (Tables)	6 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Schedule of Common Stock Excluded from Diluted Net Loss Per Share	The table sets forth the number of potential shares of Common Stock that have been excluded from diluted net loss per share. As of April 30, 2016 2015 Warrants 3,110,575 3,862,273 Stock Options 3,351,794 798,357 Convertible Debt (using the if-converted method) - 1,576 Total 6,462,369 4,662,206

Investments (Tables)

Investments (Tables)	6 Months Ended
	Apr. 30, 2016
Investments
Schedule of Investment Securities at Amortized	The following table summarizes the Company’s investment securities at amortized cost as of April 30, 2016 and October 31, 2015: April 30, 2016 Amortized cost, as adjusted Gross unrealized holding gains Gross unrealized holding losses Estimated fair value Short-term investments: Certificates of Deposit $ 13,331,551 $ - $ - $ 13,331,551 Domestic Governmental Agency Loans 27,808,036 2,642 843 27,809,835 U.S Treasury Notes 8,511,745 3,030 - 8,514,775 Total short-term investment securities $ 49,651,332 $ 5,672 $ 843 $ 49,656,161 October 31, 2015 Amortized cost, as adjusted Gross unrealized holding gains Gross unrealized holding losses Estimated fair value Short-term investments: Certificates of Deposit $ 12,628,880 $ - $ - $ 12,628,880 Domestic Governmental Agency Loans 27,951,633 5,827 5,979 27,951,481 U.S Treasury Notes 5,013,982 700 262 5,014,420 Total short-term investment securities $ 45,594,495 $ 6,527 $ 6,241 $ 45,594,781

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Apr. 30, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consists of the following: April 30, 2016 October 31, 2015 Leasehold Improvements $ 267,726 $ 237,209 Laboratory Equipment 848,956 532,249 Furniture and Fixtures 351,283 331,500 Computer Equipment 82,010 48,745 Construction Progress 419,541 80,538 Total Property and Equipment 1,969,516 1,230,241 Accumulated Depreciation and Amortization (238,121 ) (142,997 ) Net Property and Equipment $ 1,731,395 $ 1,087,244

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Apr. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following is a summary of intangible assets as of the end of the following fiscal periods: April 30, 2016 October 31, 2015 License $ 776,992 $ 651,992 Patents 4,229,930 3,898,493 Total intangibles 5,006,922 4,550,485 Accumulated Amortization (1,314,196 ) (1,195,452 ) Intangible Assets $ 3,692,726 $ 3,355,033
Schedule of Amortization Expense	Estimated amortization expense for the next five years is as follows: Year ended October 31, 2016 (Remaining) $ 122,000 2017 244,000 2018 244,000 2019 244,000 2020 244,000

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Apr. 30, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	The following table represents the major components of accrued expenses: April 30, 2016 October 31, 2015 Salaries and Other Compensation $ 1,482,819 $ 1,698,371 Vendors 1,230,923 1,000,579 Professional Fees 450,876 272,058 Withholding Taxes Payable 171,887 220,933 $ 3,336,505 $ 3,191,941

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Apr. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Warrants Activity	A summary of changes in warrants for the six months ended April 30, 2016 is as follows: Number of Weighted-Average Warrants Exercise Price Outstanding Warrants at October 31, 2015: 3,241,466 $ 5.07 Issued - $ - Exercised (122,661 ) $ 5.01 Expired (8,230 ) $ 18.75 Outstanding Warrants at April 30, 2016 3,110,575 $ 5.04
Schedule of Fair Value of Warrant Liability	the Company used the following inputs in its BSM: April 30, 2016 October 31, 2015 Exercise Price $ 10.63-18.75 $ 10.63-18.75 Stock Price $ 7.74 $ 11.09 Expected term 1.02-1.26 years 1.52-1.76 years Expected Volatility 98.24%-98.45 % 93.87%-95.00 % Risk Free Interest Rate 0.56 % .075 %

Share Based Compensation (Table

Share Based Compensation (Tables)	6 Months Ended
	Apr. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Allocation of Base Salary	The table below reflects the purchases of each Executive: ANNUALIZED Annual Amount For the Six Months Ended April 30, 2016 to be Purchased Gross Purchase Net Purchase Executive $ $ # of shares $ # of shares Daniel J. O’Connor $ 116,410 $ 54,998 6,948 $ 36,033 4,492 Gregory T. Mayes $ 27,794 $ 13,589 1,692 $ 10,400 1,293 Robert G. Petit $ 28,704 $ 13,922 1,739 $ 9,886 1,227 Sara M. Bonstein $ 25,420 $ 12,167 1,528 $ 9,333 1,169
Summary of RSU Activity and Related Information	A summary of the Company’s RSU activity and related information for the six months ended April 30, 2016 is as follows: Number of Weighted-Average RSUs Grant Date Fair Value Balance at October 31, 2015: 1,069,335 $ 10.89 Granted 288,297 $ 8.40 Vested (449,467 ) $ 7.76 Cancelled (99,980 ) $ 19.34 Balance at April 30, 2016 808,185 $ 10.69
Summary of Changes in Stock Option Plan	A summary of changes in the stock option plan for the six months ended April 30, 2016 is as follows: Number of Weighted-Average Options Exercise Price Outstanding at October 31, 2015: 1,981,939 $ 13.78 Granted 1,385,000 $ 12.81 Exercised - $ - Expired (15,145 ) $ 29.69 Outstanding at April 30, 2016 3,351,794 $ 13.31 Vested and Exercisable at April 30, 2016 1,353,109 $ 13.54
Summary of Fair Value of Stock Options Granted of BSM	In determining the fair value of the stock options granted during the six months ended April 30, 2016 and 2015, the Company used the following inputs in its BSM: Six Months Ended April 30, 2016 April 30, 2015 Expected Term 5.51-6.51 years 5-10 years Expected Volatility 109.23%-115.25 % 110.25%-154.54 % Expected Dividends 0 % 0 % Risk Free Interest Rate 1.65%-2.00 % 1.41%-2.27 %
Summary of Share-based Compensation Expense	The following table summarizes share-based compensation expense included in the Statement of Operations by expense category for the six months ended April 30, 2016 and 2015, respectively: Three Months Ended April 30, Six Months Ended April 30, 2016 2015 2016 2015 Research and development $ 967,705 $ 2,077,643 $ 6,074,343 $ 2,391,563 General and administrative 3,864,872 5,505,029 8,287,240 7,402,214 Total $ 4,832,577 $ 7,582,672 $ 14,361,583 $ 9,793,777

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Apr. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Summary of Future Minimum Payments of Operating Leases	Future minimum payments of the Company’s operating leases are as follows: Year ended October 31, 2016 (Remaining) $ 250,046 2017 893,452 2018 954,868 2019 1,014,888 2020 1,129,925 Thereafter 6,474,860

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Apr. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	The following table provides the liabilities carried at fair value measured on a recurring basis as of April 30, 2016 and October 31, 2015: April 30, 2016 Level 1 Level 2 Level 3 Total Common stock warrant liability, warrants exercisable at $10.63 - $18.75 from May 2016 through August 2017 $ - $ - $ 39,337 $ 39,337 October 31, 2015 Level 1 Level 2 Level 3 Total Common stock warrant liability, warrants exercisable at $10.63 - $18.75 from November 2015 through August 2017 $ - $ - $ 89,211 $ 89,211
Schedule of Common Stock Warrant Liability	Common stock warrant liability: April 30, 2016 Beginning balance: October 31, 2015 $ 89,211 Change in fair value (49,874 ) Balance at April 30, 2016 $ 39,337

Nature of Operations (Details N

Nature of Operations (Details Narrative)	6 Months Ended	12 Months Ended
	Apr. 30, 2016USD ($)Patients	Oct. 31, 2015USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of patients | Patients	110
Proceeds from public offering		$ 119,700,000
Cash, cash equivalents and investments	$ 94,600,000

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	6 Months Ended
	Apr. 30, 2016	Oct. 31, 2015
Accounting Policies [Abstract]
Cash equivalents	$ 39,600,000	$ 62,800,000
Concentration of credit risk	$ 44,100,000

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Schedule of Common Stock Excluded from Diluted Net Loss Per Share (Details) - shares	6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Number of common stock excluded from diluted net loss per share	6,462,369	4,662,206
Stock Options [Member]
Number of common stock excluded from diluted net loss per share		798,357
Warrants [Member]
Number of common stock excluded from diluted net loss per share	3,110,575	3,862,273
Stock Options [Member]
Number of common stock excluded from diluted net loss per share	3,351,794
Convertible Debt [Member]
Number of common stock excluded from diluted net loss per share		1,576

Investments - Schedule of Inves

Investments - Schedule of Investment Securities at Amortized (Details) - USD ($)	6 Months Ended	12 Months Ended
	Apr. 30, 2016	Oct. 31, 2015
Amortized cost, as adjusted	$ 49,651,332	$ 45,594,495
Gross unrealized holding gains	5,672	6,527
Gross unrealized holding losses	843	6,241
Estimated fair value	49,656,161	45,594,781
Certificates of Deposit [Member]
Amortized cost, as adjusted	$ 13,331,551	$ 12,628,880
Gross unrealized holding gains
Gross unrealized holding losses
Estimated fair value	$ 13,331,551	$ 12,628,880
Domestic Governmental Agency Loans [Member]
Amortized cost, as adjusted	27,808,036	27,951,633
Gross unrealized holding gains	2,642	5,827
Gross unrealized holding losses	843	5,979
Estimated fair value	27,809,835	27,951,481
U.S Treasury Notes [Member]
Amortized cost, as adjusted	8,511,745	5,013,982
Gross unrealized holding gains	$ 3,030	700
Gross unrealized holding losses		262
Estimated fair value	$ 8,514,775	$ 5,014,420

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 49,090	$ 7,246	$ 95,124	$ 14,148

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Apr. 30, 2016	Oct. 31, 2015
Property, Plant and Equipment [Abstract]
Leasehold Improvements	$ 267,726	$ 237,209
Laboratory Equipment	848,956	532,249
Furniture and Fixtures	351,283	331,500
Computer Equipment	82,010	48,745
Construction Progress	419,541	80,538
Total Property and Equipment	1,969,516	1,230,241
Accumulated Depreciation and Amortization	(238,121)	(142,997)
Net Property and Equipment	$ 1,731,395	$ 1,087,244

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015	Jan. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Finite lived patents expirations year			Expirations of the existing patents range from 2016 to 2032
Patent net book value	$ 0		$ 0		$ 0
Amortization expense of licensed technology and capitalized patent costs	$ 60,798	$ 50,389	$ 118,744	$ 98,692

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Details) - USD ($)	Apr. 30, 2016	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
License	$ 776,992	$ 651,992
Patents	4,229,930	3,898,493
Total intangibles	5,006,922	4,550,485
Accumulated Amortization	(1,314,196)	(1,195,452)
Net Intangible Assets	$ 3,692,726	$ 3,355,033

Intangible Assets - Schedule of

Intangible Assets - Schedule of Amortization Expense (Details)	Oct. 31, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2016 (Remaining)	$ 122,000
2,017	244,000
2,018	244,000
2,019	244,000
2,020	$ 244,000

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	Apr. 30, 2016	Oct. 31, 2015
Payables and Accruals [Abstract]
Salaries and Other Compensation	$ 1,482,819	$ 1,698,371
Vendors	1,230,923	1,000,579
Professional Fees	450,876	272,058
Withholding Taxes Payable	171,887	220,933
Total Accrued Expenses	$ 3,336,505	$ 3,191,941

Short-Term Convertible Notes 38

Short-Term Convertible Notes & Fair Value of Embedded Derivative (Details Narrative) - USD ($)	6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Debt Disclosure [Abstract]
Promissory note	$ 29,549	$ 39,932
Number of shares converted into common stock	1,481
Conversion price per share	$ 18.75

Derivative Instruments (Details

Derivative Instruments (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015	Oct. 31, 2015
Warrants outstanding	3,110,575		3,110,575		3,241,466
Fair value of warrant liability	$ 39,337		$ 39,337		$ 89,211
Warrants to purchase number of shares			122,661
Proceeds from exercise of warrants			$ 614,368	$ 239,593
Exercise price per share	$ 5.04		$ 5.04		$ 5.07
Minimum [Member]
Exercise price per share	10.63		10.63		10.63
Maximum [Member]
Exercise price per share	$ 18.75		$ 18.75		$ 18.75
Equity Warrants [Member]
Warrants outstanding	3,090,000		3,090,000		3,220,000
Liability Warrant [Member]
Warrants outstanding	3,110,000		3,110,000		3,240,000
Warrants to purchase of common stock exercised during period			18,000		18,000
Changes in the fair value of the warrant liability	$ 592	$ 23,236	$ 49,874	$ 287,307
Liability Warrants One [Member]
Warrants outstanding	3,110,575		3,110,575
Aggregate intrinsic value of outstanding warrants	$ 8,476,000		$ 8,476,000
Liability Warrants One [Member] | Minimum [Member]
Exercise price per share	$ 3.75		$ 3.75
Liability Warrants One [Member] | Maximum [Member]
Exercise price per share	$ 18.75		$ 18.75

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Warrants Activity (Details)	6 Months Ended
	Apr. 30, 2016$ / sharesshares
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Number of Warrants, Outstanding, Beginning balance | shares	3,241,466
Number of Warrants, Issued | shares
Number of Warrants, Exercised | shares	(122,661)	[1]
Number of Warrants, Expired | shares	(8,230)
Number of Warrants, Outstanding, Ending balance | shares	3,110,575
Weighted-Average Exercise Price, Outstanding, Beginning | $ / shares	$ 5.07
Weighted-Average Exercise Price, Issued | $ / shares
Weighted-Average Exercise Price, Exercised | $ / shares	$ 5.01	[1]
Weighted-Average Exercise Price, Expired | $ / shares	18.75
Weighted-Average Exercise Price, Outstanding, Ending | $ / shares	$ 5.04
[1]	Includes the cashless exercise of 300,376 warrants that resulted in the issuance of 222,295 shares of common stock.

Derivative Instruments - Sche41

Derivative Instruments - Schedule of Fair Value of Warrant Liability (Details) - $ / shares	6 Months Ended	12 Months Ended
	Apr. 30, 2016	Oct. 31, 2015
Stock Price	$ 7.74	$ 11.09
Risk Free Interest Rate	0.56%	0.075%
Minimum [Member]
Exercise Price	$ 10.63	$ 10.63
Expected term	1 year 7 days	1 year 6 months 7 days
Expected Volatility	98.24%	93.87%
Maximum [Member]
Exercise Price	$ 18.75	$ 18.75
Expected term	1 year 3 months 4 days	1 year 9 months 4 days
Expected Volatility	98.45%	95.00%

Share Based Compensation (Detai

Share Based Compensation (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2014	Oct. 31, 2013	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Stock compensation expense			$ 56,926	$ 43,925	$ 121,257	$ 90,088
Share-based compensation, common stock, shares			8,028	3,474	15,088	11,305
Share-based compensation, shares on net basis after employee payroll taxes			5,785	3,129	10,732	10,182
Number of shares for equity purchases					9,150
Unrecognized compensation cost related to nonvested stock option awards			$ 7,027,000		$ 7,027,000
Recognized over a remaining average vesting period					1 year 1 month 24 days
Recorded a liability			102,022		$ 102,022
Compensation cost related to outstanding stock options			4,832,577	$ 7,582,672	$ 14,361,583	$ 9,793,777
Number of options, granted					1,385,000
Stock Options [Member]
Unrecognized compensation cost related to nonvested stock option awards			24,604,000		$ 24,604,000
Options outstanding intrinsic value			57,000		$ 57,000
Recognized over a remaining average vesting period					1 year 5 months 12 days
Number of options, granted					1,385,000	400,798
Fair value of option granted					$ 14,837,970	$ 4,656,000
Restricted Stock Units (RSUs) [Member]
Options outstanding intrinsic value			814,000		$ 814,000
Number of options, granted					288,297
Employee Stock Awards [Member]
Stock compensation expense			$ 876,228	$ 1,138,471	$ 2,733,304	$ 1,272,170
Share-based compensation, common stock, shares			134,239	129,583	372,368	163,678
Issuance of common stock net basis after taxes			83,665		111,231
Director Stock Awards [Member]
Stock compensation expense			$ 311,205	$ 96,540	$ 622,410	$ 703,079
Share-based compensation, common stock, shares			61,767	23,955	93,534	215,895
Share-based compensation, shares on net basis after employee payroll taxes					202,468
2013 Base Salary Stock [Member]
Issuance of common stock					34,752
Number of stock shares issued during period amount					$ 186,555
Issuance of common stock net basis after taxes					21,489
2014 Cash Bonus Equity [Member]
Issuance of common stock					62,064
Number of stock shares issued during period amount					$ 214,359
Issuance of common stock net basis after taxes					57,990
2014 Voluntary Request To Purchase Of Equity [Member]
Issuance of common stock					21,687
Number of stock shares issued during period amount					$ 68,750
Issuance of common stock net basis after taxes					15,950
2015 Voluntary Request To Purchase Of Equity [Member]
Issuance of common stock					8,482
Number of stock shares issued during period amount					$ 88,840
Issuance of common stock net basis after taxes					7,556
Common Stock [Member]
Issuance of common stock	3,333	13,500
Number of stock shares issued during period amount	$ 10,000	$ 54,000
Promissory Note One [Member]
Issuance of common stock					21,091
Number of stock shares issued during period amount					$ 66,500
Daniel J. O' Connor [Member]
Issuance of common stock					164,909
Number of stock shares issued during period amount					$ 689,004
Executive Officer [Member]
Share-based compensation, shares on net basis after employee payroll taxes					98,603
Fair value of equity purchases value					$ 418,000
Number of shares for equity purchases					125,411
Non Executive Employees [Member] | Stock Bonus Award [Member]
Share-based compensation, shares on net basis after employee payroll taxes					14,300
Fair value of equity purchases value					$ 67,671
Number of shares for equity purchases					20,322
Consultants [Member]
Unrecognized compensation cost related to nonvested stock option awards			$ 302,300		$ 302,300
Recorded a liability			$ 40,000		40,000
Stock issued during period for services			65,893	123,650
Stock issued during period value for services			$ 570,001	$ 1,585,907
Consultants [Member]
Unrecognized compensation cost related to nonvested stock option awards			55,000		55,000
Recorded a liability			$ 40,000		$ 40,000
Stock issued during period for services					89,017	243,650
Stock issued during period value for services					$ 845,088	$ 2,377,907

Share Based Compensation - Sche

Share Based Compensation - Schedule of Allocation of Base Salary (Details) - USD ($)	6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Annual Amount to be Purchased	$ 14,361,583	$ 9,793,777
Cumulative Net Purchase		$ 38,110,072
Daniel J. O' Connor [Member]
Annual Amount to be Purchased	$ 116,410
Cumulative Gross Purchase	$ 54,998
Cumulative shares Gross Purchase	6,948
Cumulative Net Purchase	$ 36,033
Cumulative shares Net Purchase	4,492
Gregory T. Mayes [Member]
Annual Amount to be Purchased	$ 27,794
Cumulative Gross Purchase	$ 13,589
Cumulative shares Gross Purchase	1,692
Cumulative Net Purchase	$ 10,400
Cumulative shares Net Purchase	1,293
Robert G. Petit [Member]
Annual Amount to be Purchased	$ 28,704
Cumulative Gross Purchase	$ 13,922
Cumulative shares Gross Purchase	1,739
Cumulative Net Purchase	$ 9,886
Cumulative shares Net Purchase	1,227
Sara M. Bonstein [Member]
Annual Amount to be Purchased	$ 25,420
Cumulative Gross Purchase	$ 12,167
Cumulative shares Gross Purchase	1,528
Cumulative Net Purchase	$ 9,333
Cumulative shares Net Purchase	1,169

Share Based Compensation - Summ

Share Based Compensation - Summary of RSU Activity and Related Information (Details)	6 Months Ended
	Apr. 30, 2016$ / sharesshares
Beginning Balance | shares	1,981,939
Number of RSUs Granted | shares	1,385,000
Number of RSUs Vested | shares
Number of RSUs Cancelled | shares	(15,145)
Ending Balance | shares	3,351,794
Weighted-Average Exercise Price, Outstanding, Beginning | $ / shares	$ 13.78
Weighted-Average Exercise Price, Granted | $ / shares	$ 12.81
Weighted-Average Exercise Price, Vested | $ / shares
Weighted-Average Exercise Price, Cancelled | $ / shares	$ 29.69
Weighted-Average Exercise Price, Outstanding, Ending | $ / shares	$ 13.31
Restricted Stock Units (RSUs) [Member]
Beginning Balance | shares	1,069,335
Number of RSUs Granted | shares	288,297
Number of RSUs Vested | shares	(449,467)
Number of RSUs Cancelled | shares	(99,980)
Ending Balance | shares	808,185
Weighted-Average Exercise Price, Outstanding, Beginning | $ / shares	$ 10.89
Weighted-Average Exercise Price, Granted | $ / shares	8.40
Weighted-Average Exercise Price, Vested | $ / shares	7.76
Weighted-Average Exercise Price, Cancelled | $ / shares	19.34
Weighted-Average Exercise Price, Outstanding, Ending | $ / shares	$ 10.69

Share Based Compensation - Su45

Share Based Compensation - Summary of Changes in Stock Option Plan (Details)	6 Months Ended
	Apr. 30, 2016$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Beginning Balance | shares	1,981,939
Number of Options, Granted | shares	1,385,000
Number of Options, Exercised | shares
Number of Options, Expired | shares	(15,145)
Ending Balance | shares	3,351,794
Number of Options, Vested and Exercisable | shares	1,353,109
Weighted-Average Exercise Price, Outstanding, Beginning | $ / shares	$ 13.78
Weighted-Average Exercise Price, Granted | $ / shares	$ 12.81
Weighted-Average Exercise Price, Exercised | $ / shares
Weighted-Average Exercise Price, Expired | $ / shares	$ 29.69
Weighted-Average Exercise Price, Outstanding, Ending | $ / shares	13.31
Weighted-Average Exercise Price, Vested and Exercisable | $ / shares	$ 13.54

Share Based Compensation - Su46

Share Based Compensation - Summary of Fair Value of Stock Options Granted of BSM (Details)	6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Expected Volatility, Minimum	109.23%	110.25%
Expected Volatility, Maximum	115.25%	154.54%
Expected Dividends	0.00%	0.00%
Risk Free Interest Rate, Minimum	1.65%	1.41%
Risk Free Interest Rate, Maximum	2.00%	2.27%
Minimum [Member]
Expected Term	5 years 6 months 4 days	5 years
Maximum [Member]
Expected Term	6 years 6 months 4 days	10 years

Share Based Compensation - Su47

Share Based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Share-based compensation expense	$ 4,832,577	$ 7,582,672	$ 14,361,583	$ 9,793,777
Research and Development [Member]
Share-based compensation expense	967,705	2,077,643	6,074,343	2,391,563
General and Administrative [Member]
Share-based compensation expense	$ 3,864,872	$ 5,505,029	$ 8,287,240	$ 7,402,214

Commitments and Contingencies48

Commitments and Contingencies (Details Narrative)	Feb. 03, 2016USD ($)	Feb. 02, 2016USD ($)ft²	Aug. 21, 2015$ / sharesshares
Area of square feet | ft²		25,000
Lease term		3 years
Lease expire		Nov. 30, 2025
Annual rent		$ 893,000
Operating leases annual rent, description		The amended lease requires an annual rent of approximately $893,000 with annual increases in increments between 2% and 11% throughout the remainder of the lease. The lease amendment contains a six month rent abatement period starting in February 2016, and a reduced lease rate for four months starting in August 2016.
Maximum [Member]
Area of square feet | ft²		44,000
Security deposit		$ 100,061
KCM [Member]
Number of shares complaint alleges of common stock | shares			1,666,666.67
Common stock price per share | $ / shares			$ 3
Especificos Stendhal SA de CV [Member] | Co-Development and Commercialization Agreement [Member]
Payment towards expense	$ 10,000,000

Commitments and Contingencies -

Commitments and Contingencies - Summary of Future Minimum Payments of Operating Leases (Details)	Oct. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2016 (Remaining)	$ 250,046
2,017	893,452
2,018	954,868
2,019	1,014,888
2,020	1,129,925
Thereafter	$ 6,474,860

Fair Value - Fair Value, Liabil

Fair Value - Fair Value, Liabilities Measured on Recurring Basis (Details) - USD ($)	Apr. 30, 2016	Oct. 31, 2015
Common stock warrant liability, warrants exercisable	$ 39,337	$ 89,211
Fair Value, Inputs, Level 1 [Member]
Common stock warrant liability, warrants exercisable
Fair Value, Inputs, Level 2 [Member]
Common stock warrant liability, warrants exercisable
Fair Value, Inputs, Level 3 [Member]
Common stock warrant liability, warrants exercisable	$ 39,337	$ 89,211

Fair Value - Fair Value, Liab51

Fair Value - Fair Value, Liabilities Measured on Recurring Basis (Details) (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Apr. 30, 2016	Oct. 31, 2015
Exercise price per share	$ 5.04	$ 5.07
Warrants exercisable period	from May 2016 through August 2017	November 2015 through August 2017
Minimum [Member]
Exercise price per share	$ 10.63	$ 10.63
Maximum [Member]
Exercise price per share	$ 18.75	$ 18.75

Fair Value - Schedule of Common

Fair Value - Schedule of Common Stock Warrant Liability (Details)	6 Months Ended
	Apr. 30, 2016USD ($)
Fair Value Disclosures [Abstract]
Beginning balance	$ 89,211
Change in fair value	(49,874)
Ending Balance	$ 39,337

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] - shares	May. 04, 2016	May. 02, 2016	May. 01, 2016
Number of shares issued of common stock vesting periods of grants to employees			23,750
Board of Directors [Member]
Number of shares issued of common stock during period		4,687
Accredited Investors [Member]
Number of shares issued of common stock for consulting services	20,550