Cover
Cover - shares | 9 Months Ended | |
Jul. 31, 2021 | Sep. 07, 2021 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jul. 31, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --10-31 | |
Entity File Number | 001-36138 | |
Entity Registrant Name | ADVAXIS, INC. | |
Entity Central Index Key | 0001100397 | |
Entity Tax Identification Number | 02-0563870 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 9 Deer Park Drive | |
Entity Address, Address Line Two | Suite K-1 | |
Entity Address, City or Town | Monmouth Junction | |
Entity Address, State or Province | NJ | |
Entity Address, Postal Zip Code | 08852 | |
City Area Code | (609) | |
Local Phone Number | 452-9813 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 145,638,459 | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock | |
Trading Symbol | ADXS | |
Security Exchange Name | NASDAQ | |
Preferred Share Purchase Rights [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Preferred Share Purchase Rights | |
No Trading Symbol Flag | false | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jul. 31, 2021 | Oct. 31, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 45,257 | $ 25,178 |
Deferred expenses | 1,047 | 1,808 |
Prepaid expenses and other current assets | 1,138 | 865 |
Total current assets | 47,442 | 27,851 |
Property and equipment (net of accumulated depreciation) | 278 | 2,393 |
Intangible assets (net of accumulated amortization) | 3,291 | 3,261 |
Operating right-of-use asset (net of accumulated amortization) | 4,839 | |
Other assets | 11 | 182 |
Total assets | 51,022 | 38,526 |
Current liabilities: | ||
Accounts payable | 454 | 410 |
Accrued expenses | 2,206 | 1,737 |
Common stock warrant liability | 4,085 | 17 |
Current portion of operating lease liability | 962 | |
Deferred revenue | 165 | |
Total current liabilities | 6,745 | 3,291 |
Operating lease liability, net of current portion | 5,055 | |
Total liabilities | 6,745 | 8,346 |
Commitments and contingencies – Note 9 | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value; 5,000,000 shares authorized; Series B Preferred stock; 0 shares issued and outstanding at July 31, 2021 and October 31, 2020. Liquidation preference of $0 at July 31, 2021 and October 31, 2020 | ||
Common stock - $0.001 par value; 170,000,000 shares authorized, 145,638,459 and 78,074,023 shares issued and outstanding at July 31, 2021 and October 31, 2020 | 146 | 78 |
Additional paid-in capital | 467,287 | 440,840 |
Accumulated deficit | (423,156) | (410,738) |
Total stockholders’ equity | 44,277 | 30,180 |
Total liabilities and stockholders’ equity | $ 51,022 | $ 38,526 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jul. 31, 2021 | Oct. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
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 | 170,000,000 | 170,000,000 |
Common stock, shares issued | 145,638,459 | 78,074,023 |
Common stock, shares outstanding | 145,638,459 | 78,074,023 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Income Statement [Abstract] | ||||
Revenue | $ 250 | $ 3,240 | $ 253 | |
Operating expenses: | ||||
Research and development expenses | 1,703 | 3,458 | 8,616 | 12,239 |
General and administrative expenses | 2,678 | 2,384 | 9,038 | 8,063 |
Total operating expenses | 4,381 | 5,842 | 17,654 | 20,302 |
Loss from operations | (4,131) | (5,842) | (14,414) | (20,049) |
Other income (expense): | ||||
Interest income, net | 1 | 7 | 3 | 108 |
Net changes in fair value of derivative liabilities | 846 | 7 | 1,814 | (16) |
Other (expense) income | (1) | 229 | (2) | |
Net loss before income taxes | (3,284) | (5,829) | (12,368) | (19,959) |
Income tax expense | 50 | 50 | 50 | |
Net loss | $ (3,334) | $ (5,829) | $ (12,418) | $ (20,009) |
Net loss per common share, basic and diluted | $ (0.02) | $ (0.09) | $ (0.10) | $ (0.35) |
Weighted average number of common shares, basic and diluted | 145,638,459 | 61,634,031 | 123,514,178 | 57,963,228 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Jul. 31, 2021 | Jul. 31, 2020 | |
OPERATING ACTIVITIES | ||
Net loss | $ (12,418,000) | $ (20,009,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Share based compensation | 511,000 | 708,000 |
Employee stock purchase plan expense | 1,000 | |
(Gain) loss on change in value of warrants | (1,814,000) | 16,000 |
Loss on disposal of property and equipment | 1,530,000 | |
Abandonment of intangible assets | 90,000 | 892,000 |
Depreciation expense | 366,000 | 683,000 |
Amortization expense of intangible assets | 203,000 | 263,000 |
Amortization of right-of-use asset | 327,000 | 553,000 |
Net gain on write-off of right-of-use asset and lease liability | (1,116,000) | |
Change in operating assets and liabilities: | ||
Prepaid expenses, other current assets and deferred expenses | 488,000 | 977,000 |
Other assets | 171,000 | 1,000 |
Accounts payable and accrued expenses | 513,000 | (2,251,000) |
Deferred revenue | (165,000) | 50,000 |
Operating lease liabilities | (389,000) | (606,000) |
Net cash used in operating activities | (11,703,000) | (18,722,000) |
INVESTING ACTIVITIES | ||
Proceeds from disposal of property and equipment | 219,000 | |
Cost of intangible assets | (323,000) | (421,000) |
Net cash used in investing activities | (104,000) | (421,000) |
FINANCING ACTIVITIES | ||
Net proceeds of issuance of common stock and warrants | 28,115,000 | 10,621,000 |
Warrant exercises | 3,771,000 | |
Proceeds from employee stock purchase plan | 5,000 | |
Employee tax withholdings paid on equity awards | (2,000) | |
Tax shares sold to pay for employee tax withholdings on equity awards | 2,000 | |
Net cash provided by financing activities | 31,886,000 | 10,626,000 |
Net increase (decrease) in cash and cash equivalents | 20,079,000 | (8,517,000) |
Cash and cash equivalents at beginning of period | 25,178,000 | 32,363,000 |
Cash and cash equivalents at end of period | 45,257,000 | 23,846,000 |
SUPPLEMENTAL CASH FLOW INFORMATION | ||
Cash paid for taxes | 50,000 | 50,000 |
SUPPLEMENTAL DISCLOSURE OF NON-CASH AND FINANCING ACTIVITIES | ||
Warrant liability reclassified into equity | 2,000 | |
Amounts accrued for offering costs | 37,000 | |
Commitment fee shares issued for equity line | $ 644,000 |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 9 Months Ended |
Jul. 31, 2021 | |
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 development and commercialization of proprietary Listeria monocytogenes Lm Lm Lm Lm TM ● Alerting and training the immune system by activating multiple pathways in Antigen-Presenting Cells (“APCs”) with the equivalent of multiple adjuvants; ● Attacking the tumor by generating a strong, cancer-specific T cell response; and ● Breaking down tumor protection through suppression of the protective cells in the tumor microenvironment (“TME”) that shields the tumor from the immune system. This enables the activated T cells to begin working to attack the tumor cells. Advaxis’ proprietary Lm Lm Merger with Biosight On July 4, 2021, the Company entered into a Merger Agreement (the “Merger Agreement”), subject to shareholder approval, with Biosight Ltd. (“Biosight”) and Advaxis Ltd. (“Merger Sub”), a direct, wholly-owned subsidiary of Advaxis. Under the terms of the agreement, Biosight will merge with and into Merger Sub, with Biosight continuing as the surviving company and a wholly-owned subsidiary of Advaxis (the “Merger”). Immediately after the merger, Advaxis stockholders as of immediately prior to the merger are expected to own approximately 25 % of the outstanding shares of the combined company and former Biosight shareholders are expected to own approximately 75 % of the outstanding shares of the combined company. The merger will be accounted for a reverse acquisition pursuant to ASC 805-40. At the effective time of the Merger (the “Effective Time”), each share of share capital of Biosight (excluding certain Biosight shares that may be cancelled pursuant to the terms of the Merger Agreement) issued and outstanding immediately prior to the Effective Time will be converted into the right to receive a number of shares of Advaxis common stock, par value $ 0.001 If the Merger Agreement is terminated under certain circumstances, Advaxis or Biosight, as applicable, will be required to pay the other party a termination fee up to $ 7,500,000 Liquidity and Capital Resources Liquidity and Management’s Plans Similar to other development stage biotechnology companies, the Company’s products that are being developed have not generated significant revenue. As a result, the Company has suffered recurring losses and requires significant cash resources to execute its business plans. These losses are expected to continue for the foreseeable future. As of July 31, 2021, the Company had approximately $ 45.3 million in cash and cash equivalents. Although the Company expects to have sufficient capital to fund its obligations, as they become due, in the ordinary course of business until at least October 2022, the actual amount of cash that it will need to operate is subject to many factors. Over the past year, the Company has taken steps to obtain additional financing, including conducting sales of its common stock through its at-the-market (“ATM”) program through A.G.P./Alliance Global Partners, an equity line financing arrangement with Lincoln Park Capital and the completion of a registered direct offering and concurrent private placement with two healthcare-focused, institutional investors in April 2021, as further described below. The Company also received aggregate proceeds of about $ 3.8 million during the nine months ended July 31, 2021 upon the exercise of outstanding warrants, which were payable upon exercise. In April 2021, the Company entered into definitive agreements with two healthcare-focused, institutional investors for the purchase of (i) 17,577,400 7,671,937 7,671,937 11,244,135 14,005,202 20 On November 27, 2020, the Company completed an underwritten public offering of 26,666,666 shares of common stock and common stock warrants to purchase up to 13,333,333 shares of common stock (the “November 2020 Offering”). On November 24, 2020, the underwriters notified the Company that they had exercised their option to purchase an additional 3,999,999 shares of common stock and 1,999,999 warrants in full. The Company received gross proceeds of approximately $ 9.2 million, before deducting the fees and expenses payable by the Company in connection with the November 2020 Offering. The Company recognizes it will need to raise additional capital in order to continue to execute its business plan in the future. 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 further scale back its operations. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION | 9 Months Ended |
Jul. 31, 2021 | |
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/Estimates The accompanying unaudited interim condensed consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and in accordance with the rules and regulations of the Securities and Exchange Commission (“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 and the accompanying unaudited interim condensed consolidated balance sheet as of July 31, 2021 has been derived from the Company’s October 31, 2020 audited financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements furnished include all adjustments (consisting of normal recurring accruals) necessary for a fair statement of the results for the interim periods presented. Operating results for interim periods are not necessarily indicative of the results to be expected for the full year. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Significant estimates include the timelines associated with revenue recognition on upfront payments received, fair value and recoverability of the carrying value of property and equipment and intangible assets, fair value of warrant liability, grant date fair value of options, deferred tax assets and any related valuation allowance 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 could materially differ from these estimates. These unaudited interim condensed consolidated financial statements should be read in conjunction with the financial statements of the Company as of and for the fiscal year ended October 31, 2020 and notes thereto contained in the Company’s 2020 Annual Report on Form 10-K, as filed with the SEC on January 22, 2021. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and transactions have been eliminated. Net Income (Loss) per Share Basic net income or loss per common share is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share give effect to dilutive options, warrants, restricted stock units 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 below sets forth the number of potential shares of common stock that have been excluded from diluted net loss per share. As of July 31, 2021 and July 31, 2020, 0 327,338 0 SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM DILUTED NET LOSS PER SHARE As of July 31, 2021 2020 Warrants 30,225,397 5,070,888 Stock options 900,472 914,577 Restricted stock units - 5,818 Total 31,125,869 5,991,283 Sequencing Policy The Company adopted a sequencing policy under ASC 815-40-35, if reclassification of contracts from equity to liabilities is necessary pursuant to ASC 815 due to the Company’s inability to demonstrate it has sufficient authorized shares. This was due to the Company committing more shares than authorized. Certain instruments are classified as liabilities, after allocating available authorized shares on the basis of the most recent grant date of potentially dilutive instruments. Pursuant to ASC 815, issuances of securities granted as compensation in a share-based payment arrangement are not subject to the sequencing policy. Recent Accounting Standards Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material impact on the accompanying condensed consolidated financial statements. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 9 Months Ended |
Jul. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | 3. PROPERTY AND EQUIPMENT Property and equipment, net consisted of the following (in thousands): SCHEDULE OF PROPERTY AND EQUIPMENT July 31, 2021 October 31, 2020 Leasehold improvements $ - $ 2,335 Laboratory equipment 373 1,218 Furniture and fixtures - 744 Computer equipment 409 409 Construction in progress - 19 Total property and equipment 782 4,725 Accumulated depreciation and amortization (504 ) (2,332 ) Net property and equipment $ 278 $ 2,393 Depreciation expense for the three months ended July 31, 2021 and 2020 was approximately $ 50,000 0.2 0.4 0.7 1.5 1.0 0.5 |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 9 Months Ended |
Jul. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS | 4. INTANGIBLE ASSETS Intangible assets, net consisted of the following (in thousands): SUMMARY OF INTANGIBLE ASSETS July 31, 2021 October 31, 2020 Patents $ 4,705 $ 4,479 Licenses 777 777 Software 117 117 Total intangibles 5,599 5,373 Accumulated amortization (2,308 ) (2,112 ) Intangible assets $ 3,291 $ 3,261 The expiration dates of the existing patents range from 2021 to 2039 21,000 0.3 90,000 0.9 68,000 79,000 0.2 0.3 Management has reviewed its long-lived assets for impairment whenever events and circumstances indicate that the carrying value of an asset might not be recoverable. Net assets are recorded on the balance sheet for patents and licenses related to axalimogene filolisbac (AXAL), ADXS-HOT, ADXS-PSA and other products that are in development. However, if a competitor were to gain FDA approval for a similar treatment before the Company or if future clinical trials fail to meet the targeted endpoints, the Company will likely record an impairment related to these assets. In addition, if an application is rejected or fails to be issued, the Company would record an impairment of its estimated book value. Lastly, if the Company is unable to raise enough capital to continue funding its studies and developing its intellectual property, the Company would likely record an impairment to these assets. As of July 31, 2021, the estimated amortization expense by fiscal year based on the current carrying value of intangible assets is as follows (in thousands): SCHEDULE OF CARRYING VALUE OF INTANGIBLE ASSETS Fiscal year ending 2021 (Remaining) $ 68 2022 273 2023 273 2024 273 2025 273 Thereafter 2,131 Total $ 3,291 |
ACCRUED EXPENSES
ACCRUED EXPENSES | 9 Months Ended |
Jul. 31, 2021 | |
Payables and Accruals [Abstract] | |
ACCRUED EXPENSES | 5. ACCRUED EXPENSES The following table summarizes accrued expenses included in the condensed consolidated balance sheets (in thousands): SUMMARY OF ACCRUED EXPENSES July 31, 2021 October 31, 2020 Salaries and other compensation $ 634 $ 737 Vendors 1,168 671 Professional fees 404 329 Total accrued expenses $ 2,206 $ 1,737 |
COMMON STOCK PURCHASE WARRANTS
COMMON STOCK PURCHASE WARRANTS AND WARRANT LIABILITY | 9 Months Ended |
Jul. 31, 2021 | |
Common Stock Purchase Warrants And Warrant Liability | |
COMMON STOCK PURCHASE WARRANTS AND WARRANT LIABILITY | 6. COMMON STOCK PURCHASE WARRANTS AND WARRANT LIABILITY Warrants As of July 31, 2021, there were outstanding and exercisable warrants to purchase 30,225,397 0.30 281.25 SCHEDULE OF OUTSTANDING WARRANTS Exercise Number of Shares Expiration Date Type of Financing $ 281.25 25 N/A Other warrants $ 0.30 70,297 July 2024 September 2018 Public Offering $ 2.80 327,338 September 2024 July 2019 Public Offering $ 0.35 4,578,400 November 2025 November 2020 Public Offering $ 0.70 11,244,135 April 2026 April 2021 Registered Direct Offering (Accompanying Warrants) $ 0.70 14,005,202 5 years after the date such warrants become exercisable, if ever April 2021 Private Placement (Private Placement Warrants) Grand Total 30,225,397 As of October 31, 2020, there were outstanding warrants to purchase 398,226 0 281.25 Exercise Number of Shares Expiration Date Type of Financing $ - 327,338 July 2024 July 2019 Public Offering $ 281.25 25 N/A Other Warrants $ 0.372 70,863 September 2024 September 2018 Public Offering Grand Total 398,226 A summary of warrant activity for the nine months ended July 31, 2021 is as follows (in thousands, except share and per share data): SCHEDULE OF WARRANTS ACTIVITY Warrants Weighted Weighted Aggregate Outstanding and exercisable warrants at October 31, 2020 398,226 $ 0.08 3.76 $ 110,640 Issued 48,254,606 0.48 Exercised (18,427,435 ) 0.20 Outstanding and exercisable warrants at July 31, 2021 30,225,397 $ 0.64 4.62 $ 282,437 As of July 31, 2021, the Company had 18,910,965 of its total 30,225,397 outstanding warrants classified as equity (equity warrants). At October 31, 2020, the Company had 327,363 of its total 398,226 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 stockholders’ equity section of the condensed consolidated balance sheets. Warrant Liability As of July 31, 2021, the Company had 11,314,432 70,863 The warrants issued in the April 2021 Private Placement will become exercisable only on such day, if ever, that is 14 days after the Company files an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of common stock, $ 0.001 170,000,000 300,000,000 In measuring the warrant liability for the warrants issued in the April 2021 Private Placement at July 31, 2021 and April 14, 2021 (issuance date), the Company used the following inputs in its Black Scholes model: SCHEDULE OF ASSUMPTIONS USED IN WARRANT LIABILITY July 31, 2021 April 14, 2021 Exercise Price $ 0.70 $ 0.70 Stock Price $ 0.41 $ 0.57 Expected Term 5.00 5.00 Volatility % 107 % 106 % Risk Free Rate 0.69 % 0.85 % The September 2018 Public Offering warrants contain a down round feature, except for exempt issuances as defined in the warrant agreement, in which the exercise price would immediately be reduced to match a dilutive issuance of common stock, options, convertible securities and changes in option price or rate of conversion. As of July 31, 2021, the down round feature was triggered three times and the exercise price of the warrants were reduced from $ 22.50 0.30 In measuring the warrant liability for the September 2018 Public Offering warrants at July 31, 2021 and October 31, 2020, the Company used the following inputs in its Monte Carlo simulation model: SCHEDULE OF ASSUMPTIONS USED IN WARRANT LIABILITY July 31, 2021 October 31, 2020 Exercise Price $ 0.30 $ 0.37 Stock Price $ 0.41 $ 0.34 Expected Term 3.12 3.87 Volatility % 123 % 106 % Risk Free Rate 0.35 % 0.29 % |
SHARE BASED COMPENSATION
SHARE BASED COMPENSATION | 9 Months Ended |
Jul. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
SHARE BASED COMPENSATION | 7. SHARE BASED COMPENSATION The following table summarizes share-based compensation expense included in the condensed consolidated statements of operations (in thousands): SUMMARY OF SHARE BASED COMPENSATION EXPENSE Three Months Ended July 31, Nine Months Ended July 31, 2021 2020 2021 2020 Research and development $ 29 $ 79 $ 142 $ 233 General and administrative 31 176 369 475 Total $ 60 $ 255 $ 511 $ 708 Restricted Stock Units (RSUs) A summary of the Company’s RSU activity and related information for the nine months ended July 31, 2021 is as follows: SUMMARY OF RSU ACTIVITY AND RELATED INFORMATION Number of Weighted-Average Balance at October 31, 2020 5,556 $ 24.32 Vested (5,555 ) Cancelled (1 ) Balance at July 31, 2021 - $ - As of July 31, 2021, there was no Employee Stock Awards Common Stock issued to executives and employees related to vested incentive retention awards and employment inducements totaled 0 0 40,000 Common Stock issued to executives and employees related to vested incentive retention awards and employment inducements totaled 5,555 8,608 67,000 0.1 Stock Options A summary of changes in the stock option plan for the nine months ended July 31, 2021 is as follows: SUMMARY OF CHANGES IN STOCK OPTION PLAN Shares Weighted Weighted Aggregate Outstanding as of October 31, 2020 1,011,768 $ 33.43 8.04 $ 4 Granted 50,000 0.39 Exercised (333 ) 0.30 Cancelled or expired (160,963 ) 102.78 Outstanding as of July 31, 2021 900,472 $ 19.21 8.01 $ 14 Vested and exercisable at July 31, 2021 365,964 $ 46.14 6.85 $ 4 The following table summarizes information about the outstanding and exercisable options at July 31, 2021: SUMMARY OF OUTSTANDING AND EXERCISABLE OPTIONS Options Outstanding Options Exercisable Weighted Weighted Weighted Weighted Average Average Average Average Exercise Number Remaining Exercise Number Remaining Exercise Price Range Outstanding Contractual Price Exercisable Contractual Price $ .30 10.00 734,033 8.68 $ 1.06 200,080 8.35 $ 1.86 $ 10.01 100.00 90,750 6.48 $ 29.01 90,195 6.47 $ 29.12 $ 100.01 200.00 50,965 3.73 $ 162.16 50,965 3.73 $ 162.16 $ 200.01 277.50 24,724 2.47 $ 227.40 24,724 2.47 $ 227.40 During the nine months ended July 31, 2021, the Company granted options to purchase 50,000 ten three years 0.39 Total compensation cost related to the Company’s outstanding stock options, recognized in the statement of operations for the three months ended July 31, 2021 and 2020 was approximately $ 60,000 0.2 0.4 0.6 As of July 31, 2021, there was approximately $ 0.2 1.63 As of July 31, 2021, the aggregate intrinsic value of vested and exercisable options was approximately $ 4,000 10,000 In determining the fair value of the stock options granted during the nine months ended July 31, 2021, the Company used the following inputs in its Black Scholes Merton model: SUMMARY OF FAIR VALUE OF STOCK OPTIONS GRANTED OF BSM Nine Months Expected Term 6 Expected Volatility 103.27 % Expected Dividends 0 % Risk Free Interest Rate 0.53 % Employee Stock Purchase Plan During the nine months ended July 31, 2021 and 2020, the Company issued 1,000 11,148 Potential Acceleration of Stock Options In the event of a merger transaction, similar to the Merger Agreement described in Note 1, all of the Chief Executive Officer’s 73,777 |
LICENSING AGREEMENTS
LICENSING AGREEMENTS | 9 Months Ended |
Jul. 31, 2021 | |
Licensing Agreements | |
LICENSING AGREEMENTS | 8. LICENSING AGREEMENTS OS Therapies LLC On September 4, 2018, the Company entered into a development, license and supply agreement with OS Therapies (“OST”) for the use of ADXS31-164, also known as ADXS-HER2, for evaluation in the treatment of osteosarcoma in humans. Under the terms of the license agreement, as amended, OST will be responsible for the conduct and funding of a clinical study evaluating ADXS-HER2 in recurrent, completely resected osteosarcoma. Under the most recent amendment to the licensing agreement, OST agreed to pay Advaxis $ 25,000 2,337,500 In December 2020 and January 2021, the Company received an aggregate of $1,615,000 from OS Therapies upon achievement of the funding milestone set forth in the license agreement 1,615,000 On April 26, 2021, the Company achieved the second milestone set forth in the license agreement for evaluation in the treatment of osteosarcoma in humans and recorded $ 1,375,000 1,375,000 Global BioPharma Inc. On December 9, 2013, the Company entered into an exclusive licensing agreement for the development and commercialization of axalimogene filolisbac with Global BioPharma, Inc. (“GBP”), a Taiwanese based biotech company funded by a group of investors led by Taiwan Biotech Co., Ltd (TBC). During each of the nine months ended July 31, 2021 and 2020, the Company recorded $ 0.3 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Jul. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 9. COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company is from time to time involved in legal proceedings in the ordinary course of our business. The Company does not believe that any of these claims or proceedings against the Company is likely to have, individually or in the aggregate, a material adverse effect on the financial condition or results of operations. Merger Agreement In the event of the closing of the Merger Agreement, the Company may be required under certain circumstances to pay the following: ● Board-approved employee bonuses totaling approximately $ 1 ● In the event of involuntary termination, approximately $ 2.5 ● A tail insurance policy with a premium of approximately $ 2 ● Success fee to bankers of approximately $ 0.5 |
LEASES
LEASES | 9 Months Ended |
Jul. 31, 2021 | |
Leases [Abstract] | |
LEASES | 10. LEASES Operating Leases The Company previously leased a corporate office and manufacturing facility in Princeton, New Jersey under an operating lease that was set to expire in November 2025 1,000,000 182,000 818,000 4.5 5.6 0.1 On March 25, 2021, the Company entered into a new lease agreement for its corporate office/lab with base rent of approximately $ 29,000 The lease expires on March 25, 2022 and the Company has the option to renew the lease for one additional successive one-year term upon six months written notice to the landlord. This new lease is accounted for as a short-term lease and the Company has elected to not recognize the right-of-use asset and lease liability. As a result of the termination of the Company’s prior lease agreement pursuant to the Lease Termination and Surrender Agreement, the Company does not have an outstanding lease liability or operating right-of-use asset recorded as of July 31, 2021. Supplemental lease expense related to leases was as follows (in thousands): SCHEDULE OF LEASE EXPENSES Lease Cost (in thousands) Statements of Operations Classification For the Three For the Nine Operating lease cost General and administrative - 1,301 Short-term lease cost General and administrative 12 16 Variable lease cost General and administrative $ 4 165 Total lease expense $ 16 1,482 Lease Cost (in thousands) Statements of Operations Classification For the Three For the Nine Operating lease cost General and administrative 290 869 Short-term lease cost General and administrative 83 249 Variable lease cost General and administrative $ 108 282 Total lease expense $ 481 1,400 Supplemental cash flow information related to operating leases was as follows: SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES For the Three For the Nine Cash paid for operating lease liabilities $ 1,363 For the Three For the Nine Cash paid for operating lease liabilities $ 311 922 |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 9 Months Ended |
Jul. 31, 2021 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | 11. STOCKHOLDERS’ EQUITY Public Offerings In April 2021, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors. The Purchase Agreement provided for the sale and issuance by the Company of an aggregate of 17,577,400 0.001 0.7921 7,671,937 9.99 11,244,135 0.7911 0.001 0.70 The Purchase Agreement also provided for a concurrent private placement (the “Private Placement”) of 14,005,202 14,005,202 0.001 170,000,000 300,000,000 0.70 In March 2021, the Company sold 886,048 0.7 In November 2020, the Company closed on a public offering of 30,666,665 0.30 9.2 15,333,332 0.35 five years 8.5 During the nine months ended July 31, 2021, warrant holders from the Company’s November 2020 offering exercised 10,754,932 10,754,932 7,671,937 7,671,937 3.8 A summary of the changes in stockholders’ equity for the three and nine months ended July 31, 2021 and 2020 is presented below (in thousands, except share data): SUMMARY OF STOCKHOLDERS EQUITY Shares Amount Shares Amount Capital Deficit Equity Preferred Stock Common Stock Additional Accumulated Total Shares Amount Shares Amount Capital Deficit Equity Balance at November 1, 2019 - $ - 50,201,671 $ 50 $ 423,750 $ (384,269 ) $ 39,531 Stock-based compensation - - 2,957 - 242 - 242 Advaxis public offerings, net of offering costs - - 10,000,000 10 9,618 - 9,628 Warrant exercises - - 26,416 - 2 - 2 Issuance of shares to employees under ESPP Plan - - 5,555 - 2 - 2 Tax withholdings paid on equity awards Tax shares sold to pay for tax withholdings on equity awards At-the-market shares issued, net of offering costs At-the-market shares issued, net of offering costs, shares Commitment fee shares issued for equity line Commitment fee shares issued for equity line, shares Stock option exercises Stock option exercises, shares Net Loss - - - - - (7,857 ) (7,857 ) Balance at January 31, 2020 - $ - 60,236,599 $ 60 $ 433,614 $ (392,126 ) $ 41,548 Stock-based compensation - - 5,651 - 210 - 210 Warrant exercises - - 7,500 - - - - Issuance of shares to employees under ESPP Plan - - 2,694 - 2 - 2 Net Loss - - - - - (6,323 ) (6,323 ) Balance at April 30, 2020 - $ - 60,252,444 $ 60 $ 433,826 $ (398,449 ) $ 35,437 Stock-based compensation - - - - 255 - 255 Tax withholdings paid on equity awards - - - - (1 ) - (1 ) Tax shares sold to pay for tax withholdings on equity awards - - - - 1 - 1 Issuance of shares to employees under ESPP Plan - - 2,899 - 2 - 2 At-the-market shares issued, net of offering costs - - 1,375,337 1 956 - 957 Commitment fee shares issued for equity line - - 1,084,266 1 643 - 644 Net Loss - - - - - (5,829 ) (5,829 ) Balance at July 31, 2020 - $ - 62,714,946 $ 62 $ 435,682 $ (404,278 ) $ 31,466 Preferred Stock Common Stock Additional Paid-In Accumulated Total Shareholders’ Shares Amount Shares Amount Capital Deficit Equity Balance at November 1, 2020 - $ - 78,074,023 $ 78 $ 440,840 $ (410,738 ) $ 30,180 Stock-based compensation - - - - 236 - 236 Advaxis public offerings, net of offering costs - - 30,666,665 31 8,519 - 8,550 Warrant exercises - - 7,390,000 7 2,579 - 2,586 Net Loss - - - - - (3,977 ) (3,977 ) Balance at January 31, 2021 - $ - 116,130,688 $ 116 $ 452,174 $ (414,715 ) $ 37,575 Stock-based compensation - - 5,888 - 215 - 215 Stock option exercises 333 - - - - - - Advaxis public offerings, net of offering costs - - 18,463,448 19 13,664 - 13,683 Warrant exercises - - 11,037,435 11 1,174 - 1,185 Issuance of shares to employees under ESPP Plan - - 1,000 - - - - Net Loss - - - - - (5,107 ) (5,107 ) Balance at April 30, 2021 - $ - 145,638,459 $ 146 $ 467,227 $ (419,822 ) $ 47,551 Beginning balance - $ - 145,638,459 $ 146 $ 467,227 $ (419,822 ) $ 47,551 Stock-based compensation - - - - 60 - 60 Net Loss - - - - - (3,334 ) (3,334 ) Balance at July 31, 2021 - $ - 145,638,459 $ 146 $ 467,287 $ (423,156 ) $ 44,277 Ending balance - $ - 145,638,459 $ 146 $ 467,287 $ (423,156 ) $ 44,277 |
FAIR VALUE
FAIR VALUE | 9 Months Ended |
Jul. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE | 12. 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 assets and liabilities carried at fair value measured on a recurring basis as of July 31, 2021 and October 31, 2020 (in thousands): SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS July 31, 2021 Level 1 Level 2 Level 3 Total Common stock warrant liability, warrants exercisable at $ 0.30 - - $ 24 $ 24 Common stock warrant liability, warrants exercisable at $ 0.70 - - $ 4,061 $ 4,061 Total - - $ 4,085 $ 4,085 October 31, 2020 Level 1 Level 2 Level 3 Total Common stock warrant liability, warrants exercisable at $ 0.372 - - $ 17 $ 17 The following table sets forth a summary of the changes in the fair value of the Company’s warrant liabilities (in thousands): SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANT LIABILITIES For the Beginning balance $ 17 Warrants issued 5,882 Warrant exercises - Change in fair value (1,814 ) Ending Balance $ 4,085 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (Policies) | 9 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation/Estimates | Basis of Presentation/Estimates The accompanying unaudited interim condensed consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and in accordance with the rules and regulations of the Securities and Exchange Commission (“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 and the accompanying unaudited interim condensed consolidated balance sheet as of July 31, 2021 has been derived from the Company’s October 31, 2020 audited financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements furnished include all adjustments (consisting of normal recurring accruals) necessary for a fair statement of the results for the interim periods presented. Operating results for interim periods are not necessarily indicative of the results to be expected for the full year. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Significant estimates include the timelines associated with revenue recognition on upfront payments received, fair value and recoverability of the carrying value of property and equipment and intangible assets, fair value of warrant liability, grant date fair value of options, deferred tax assets and any related valuation allowance 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 could materially differ from these estimates. These unaudited interim condensed consolidated financial statements should be read in conjunction with the financial statements of the Company as of and for the fiscal year ended October 31, 2020 and notes thereto contained in the Company’s 2020 Annual Report on Form 10-K, as filed with the SEC on January 22, 2021. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and transactions have been eliminated. |
Net Income (Loss) per Share | Net Income (Loss) per Share Basic net income or loss per common share is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share give effect to dilutive options, warrants, restricted stock units 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 below sets forth the number of potential shares of common stock that have been excluded from diluted net loss per share. As of July 31, 2021 and July 31, 2020, 0 327,338 0 SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM DILUTED NET LOSS PER SHARE As of July 31, 2021 2020 Warrants 30,225,397 5,070,888 Stock options 900,472 914,577 Restricted stock units - 5,818 Total 31,125,869 5,991,283 |
Sequencing Policy | Sequencing Policy The Company adopted a sequencing policy under ASC 815-40-35, if reclassification of contracts from equity to liabilities is necessary pursuant to ASC 815 due to the Company’s inability to demonstrate it has sufficient authorized shares. This was due to the Company committing more shares than authorized. Certain instruments are classified as liabilities, after allocating available authorized shares on the basis of the most recent grant date of potentially dilutive instruments. Pursuant to ASC 815, issuances of securities granted as compensation in a share-based payment arrangement are not subject to the sequencing policy. |
Recent Accounting Standards | Recent Accounting Standards Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material impact on the accompanying condensed consolidated financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (Tables) | 9 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM DILUTED NET LOSS PER SHARE | SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM DILUTED NET LOSS PER SHARE As of July 31, 2021 2020 Warrants 30,225,397 5,070,888 Stock options 900,472 914,577 Restricted stock units - 5,818 Total 31,125,869 5,991,283 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 9 Months Ended |
Jul. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT | Property and equipment, net consisted of the following (in thousands): SCHEDULE OF PROPERTY AND EQUIPMENT July 31, 2021 October 31, 2020 Leasehold improvements $ - $ 2,335 Laboratory equipment 373 1,218 Furniture and fixtures - 744 Computer equipment 409 409 Construction in progress - 19 Total property and equipment 782 4,725 Accumulated depreciation and amortization (504 ) (2,332 ) Net property and equipment $ 278 $ 2,393 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 9 Months Ended |
Jul. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SUMMARY OF INTANGIBLE ASSETS | Intangible assets, net consisted of the following (in thousands): SUMMARY OF INTANGIBLE ASSETS July 31, 2021 October 31, 2020 Patents $ 4,705 $ 4,479 Licenses 777 777 Software 117 117 Total intangibles 5,599 5,373 Accumulated amortization (2,308 ) (2,112 ) Intangible assets $ 3,291 $ 3,261 |
SCHEDULE OF CARRYING VALUE OF INTANGIBLE ASSETS | As of July 31, 2021, the estimated amortization expense by fiscal year based on the current carrying value of intangible assets is as follows (in thousands): SCHEDULE OF CARRYING VALUE OF INTANGIBLE ASSETS Fiscal year ending 2021 (Remaining) $ 68 2022 273 2023 273 2024 273 2025 273 Thereafter 2,131 Total $ 3,291 |
ACCRUED EXPENSES (Tables)
ACCRUED EXPENSES (Tables) | 9 Months Ended |
Jul. 31, 2021 | |
Payables and Accruals [Abstract] | |
SUMMARY OF ACCRUED EXPENSES | The following table summarizes accrued expenses included in the condensed consolidated balance sheets (in thousands): SUMMARY OF ACCRUED EXPENSES July 31, 2021 October 31, 2020 Salaries and other compensation $ 634 $ 737 Vendors 1,168 671 Professional fees 404 329 Total accrued expenses $ 2,206 $ 1,737 |
COMMON STOCK PURCHASE WARRANT_2
COMMON STOCK PURCHASE WARRANTS AND WARRANT LIABILITY (Tables) | 9 Months Ended |
Jul. 31, 2021 | |
Subsidiary, Sale of Stock [Line Items] | |
SCHEDULE OF OUTSTANDING WARRANTS | SCHEDULE OF OUTSTANDING WARRANTS Exercise Number of Shares Expiration Date Type of Financing $ 281.25 25 N/A Other warrants $ 0.30 70,297 July 2024 September 2018 Public Offering $ 2.80 327,338 September 2024 July 2019 Public Offering $ 0.35 4,578,400 November 2025 November 2020 Public Offering $ 0.70 11,244,135 April 2026 April 2021 Registered Direct Offering (Accompanying Warrants) $ 0.70 14,005,202 5 years after the date such warrants become exercisable, if ever April 2021 Private Placement (Private Placement Warrants) Grand Total 30,225,397 Exercise Number of Shares Expiration Date Type of Financing $ - 327,338 July 2024 July 2019 Public Offering $ 281.25 25 N/A Other Warrants $ 0.372 70,863 September 2024 September 2018 Public Offering Grand Total 398,226 |
SCHEDULE OF WARRANTS ACTIVITY | A summary of warrant activity for the nine months ended July 31, 2021 is as follows (in thousands, except share and per share data): SCHEDULE OF WARRANTS ACTIVITY Warrants Weighted Weighted Aggregate Outstanding and exercisable warrants at October 31, 2020 398,226 $ 0.08 3.76 $ 110,640 Issued 48,254,606 0.48 Exercised (18,427,435 ) 0.20 Outstanding and exercisable warrants at July 31, 2021 30,225,397 $ 0.64 4.62 $ 282,437 |
SCHEDULE OF ASSUMPTIONS USED IN WARRANT LIABILITY | In measuring the warrant liability for the September 2018 Public Offering warrants at July 31, 2021 and October 31, 2020, the Company used the following inputs in its Monte Carlo simulation model: SCHEDULE OF ASSUMPTIONS USED IN WARRANT LIABILITY July 31, 2021 October 31, 2020 Exercise Price $ 0.30 $ 0.37 Stock Price $ 0.41 $ 0.34 Expected Term 3.12 3.87 Volatility % 123 % 106 % Risk Free Rate 0.35 % 0.29 % |
Private Placement [Member] | |
Subsidiary, Sale of Stock [Line Items] | |
SCHEDULE OF ASSUMPTIONS USED IN WARRANT LIABILITY | In measuring the warrant liability for the warrants issued in the April 2021 Private Placement at July 31, 2021 and April 14, 2021 (issuance date), the Company used the following inputs in its Black Scholes model: SCHEDULE OF ASSUMPTIONS USED IN WARRANT LIABILITY July 31, 2021 April 14, 2021 Exercise Price $ 0.70 $ 0.70 Stock Price $ 0.41 $ 0.57 Expected Term 5.00 5.00 Volatility % 107 % 106 % Risk Free Rate 0.69 % 0.85 % |
SHARE BASED COMPENSATION (Table
SHARE BASED COMPENSATION (Tables) | 9 Months Ended |
Jul. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
SUMMARY OF SHARE BASED COMPENSATION EXPENSE | The following table summarizes share-based compensation expense included in the condensed consolidated statements of operations (in thousands): SUMMARY OF SHARE BASED COMPENSATION EXPENSE Three Months Ended July 31, Nine Months Ended July 31, 2021 2020 2021 2020 Research and development $ 29 $ 79 $ 142 $ 233 General and administrative 31 176 369 475 Total $ 60 $ 255 $ 511 $ 708 |
SUMMARY OF RSU ACTIVITY AND RELATED INFORMATION | A summary of the Company’s RSU activity and related information for the nine months ended July 31, 2021 is as follows: SUMMARY OF RSU ACTIVITY AND RELATED INFORMATION Number of Weighted-Average Balance at October 31, 2020 5,556 $ 24.32 Vested (5,555 ) Cancelled (1 ) Balance at July 31, 2021 - $ - |
SUMMARY OF CHANGES IN STOCK OPTION PLAN | A summary of changes in the stock option plan for the nine months ended July 31, 2021 is as follows: SUMMARY OF CHANGES IN STOCK OPTION PLAN Shares Weighted Weighted Aggregate Outstanding as of October 31, 2020 1,011,768 $ 33.43 8.04 $ 4 Granted 50,000 0.39 Exercised (333 ) 0.30 Cancelled or expired (160,963 ) 102.78 Outstanding as of July 31, 2021 900,472 $ 19.21 8.01 $ 14 Vested and exercisable at July 31, 2021 365,964 $ 46.14 6.85 $ 4 |
SUMMARY OF OUTSTANDING AND EXERCISABLE OPTIONS | The following table summarizes information about the outstanding and exercisable options at July 31, 2021: SUMMARY OF OUTSTANDING AND EXERCISABLE OPTIONS Options Outstanding Options Exercisable Weighted Weighted Weighted Weighted Average Average Average Average Exercise Number Remaining Exercise Number Remaining Exercise Price Range Outstanding Contractual Price Exercisable Contractual Price $ .30 10.00 734,033 8.68 $ 1.06 200,080 8.35 $ 1.86 $ 10.01 100.00 90,750 6.48 $ 29.01 90,195 6.47 $ 29.12 $ 100.01 200.00 50,965 3.73 $ 162.16 50,965 3.73 $ 162.16 $ 200.01 277.50 24,724 2.47 $ 227.40 24,724 2.47 $ 227.40 |
SUMMARY OF FAIR VALUE OF STOCK OPTIONS GRANTED OF BSM | In determining the fair value of the stock options granted during the nine months ended July 31, 2021, the Company used the following inputs in its Black Scholes Merton model: SUMMARY OF FAIR VALUE OF STOCK OPTIONS GRANTED OF BSM Nine Months Expected Term 6 Expected Volatility 103.27 % Expected Dividends 0 % Risk Free Interest Rate 0.53 % |
LEASES (Tables)
LEASES (Tables) | 9 Months Ended |
Jul. 31, 2021 | |
Leases [Abstract] | |
SCHEDULE OF LEASE EXPENSES | Supplemental lease expense related to leases was as follows (in thousands): SCHEDULE OF LEASE EXPENSES Lease Cost (in thousands) Statements of Operations Classification For the Three For the Nine Operating lease cost General and administrative - 1,301 Short-term lease cost General and administrative 12 16 Variable lease cost General and administrative $ 4 165 Total lease expense $ 16 1,482 Lease Cost (in thousands) Statements of Operations Classification For the Three For the Nine Operating lease cost General and administrative 290 869 Short-term lease cost General and administrative 83 249 Variable lease cost General and administrative $ 108 282 Total lease expense $ 481 1,400 |
SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES | Supplemental cash flow information related to operating leases was as follows: SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES For the Three For the Nine Cash paid for operating lease liabilities $ 1,363 For the Three For the Nine Cash paid for operating lease liabilities $ 311 922 |
STOCKHOLDERS_ EQUITY (Tables)
STOCKHOLDERS’ EQUITY (Tables) | 9 Months Ended |
Jul. 31, 2021 | |
Equity [Abstract] | |
SUMMARY OF STOCKHOLDERS EQUITY | A summary of the changes in stockholders’ equity for the three and nine months ended July 31, 2021 and 2020 is presented below (in thousands, except share data): SUMMARY OF STOCKHOLDERS EQUITY Shares Amount Shares Amount Capital Deficit Equity Preferred Stock Common Stock Additional Accumulated Total Shares Amount Shares Amount Capital Deficit Equity Balance at November 1, 2019 - $ - 50,201,671 $ 50 $ 423,750 $ (384,269 ) $ 39,531 Stock-based compensation - - 2,957 - 242 - 242 Advaxis public offerings, net of offering costs - - 10,000,000 10 9,618 - 9,628 Warrant exercises - - 26,416 - 2 - 2 Issuance of shares to employees under ESPP Plan - - 5,555 - 2 - 2 Tax withholdings paid on equity awards Tax shares sold to pay for tax withholdings on equity awards At-the-market shares issued, net of offering costs At-the-market shares issued, net of offering costs, shares Commitment fee shares issued for equity line Commitment fee shares issued for equity line, shares Stock option exercises Stock option exercises, shares Net Loss - - - - - (7,857 ) (7,857 ) Balance at January 31, 2020 - $ - 60,236,599 $ 60 $ 433,614 $ (392,126 ) $ 41,548 Stock-based compensation - - 5,651 - 210 - 210 Warrant exercises - - 7,500 - - - - Issuance of shares to employees under ESPP Plan - - 2,694 - 2 - 2 Net Loss - - - - - (6,323 ) (6,323 ) Balance at April 30, 2020 - $ - 60,252,444 $ 60 $ 433,826 $ (398,449 ) $ 35,437 Stock-based compensation - - - - 255 - 255 Tax withholdings paid on equity awards - - - - (1 ) - (1 ) Tax shares sold to pay for tax withholdings on equity awards - - - - 1 - 1 Issuance of shares to employees under ESPP Plan - - 2,899 - 2 - 2 At-the-market shares issued, net of offering costs - - 1,375,337 1 956 - 957 Commitment fee shares issued for equity line - - 1,084,266 1 643 - 644 Net Loss - - - - - (5,829 ) (5,829 ) Balance at July 31, 2020 - $ - 62,714,946 $ 62 $ 435,682 $ (404,278 ) $ 31,466 Preferred Stock Common Stock Additional Paid-In Accumulated Total Shareholders’ Shares Amount Shares Amount Capital Deficit Equity Balance at November 1, 2020 - $ - 78,074,023 $ 78 $ 440,840 $ (410,738 ) $ 30,180 Stock-based compensation - - - - 236 - 236 Advaxis public offerings, net of offering costs - - 30,666,665 31 8,519 - 8,550 Warrant exercises - - 7,390,000 7 2,579 - 2,586 Net Loss - - - - - (3,977 ) (3,977 ) Balance at January 31, 2021 - $ - 116,130,688 $ 116 $ 452,174 $ (414,715 ) $ 37,575 Stock-based compensation - - 5,888 - 215 - 215 Stock option exercises 333 - - - - - - Advaxis public offerings, net of offering costs - - 18,463,448 19 13,664 - 13,683 Warrant exercises - - 11,037,435 11 1,174 - 1,185 Issuance of shares to employees under ESPP Plan - - 1,000 - - - - Net Loss - - - - - (5,107 ) (5,107 ) Balance at April 30, 2021 - $ - 145,638,459 $ 146 $ 467,227 $ (419,822 ) $ 47,551 Beginning balance - $ - 145,638,459 $ 146 $ 467,227 $ (419,822 ) $ 47,551 Stock-based compensation - - - - 60 - 60 Net Loss - - - - - (3,334 ) (3,334 ) Balance at July 31, 2021 - $ - 145,638,459 $ 146 $ 467,287 $ (423,156 ) $ 44,277 Ending balance - $ - 145,638,459 $ 146 $ 467,287 $ (423,156 ) $ 44,277 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 9 Months Ended |
Jul. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS | The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of July 31, 2021 and October 31, 2020 (in thousands): SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS July 31, 2021 Level 1 Level 2 Level 3 Total Common stock warrant liability, warrants exercisable at $ 0.30 - - $ 24 $ 24 Common stock warrant liability, warrants exercisable at $ 0.70 - - $ 4,061 $ 4,061 Total - - $ 4,085 $ 4,085 October 31, 2020 Level 1 Level 2 Level 3 Total Common stock warrant liability, warrants exercisable at $ 0.372 - - $ 17 $ 17 |
SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANT LIABILITIES | The following table sets forth a summary of the changes in the fair value of the Company’s warrant liabilities (in thousands): SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANT LIABILITIES For the Beginning balance $ 17 Warrants issued 5,882 Warrant exercises - Change in fair value (1,814 ) Ending Balance $ 4,085 |
NATURE OF OPERATIONS (Details N
NATURE OF OPERATIONS (Details Narrative) - USD ($) | Apr. 30, 2021 | Nov. 27, 2020 | Nov. 24, 2020 | Nov. 30, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | Jul. 04, 2021 | Oct. 31, 2020 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Common stock, par value | $ 0.001 | $ 0.001 | ||||||
Cash and Cash Equivalents, at Carrying Value | $ 45,257,000 | $ 25,178,000 | ||||||
Proceeds from Warrant Exercises | $ 3,771,000 | |||||||
Number of warrants to purchase common stock | 30,225,397 | 398,226 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 333 | |||||||
IPO [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Number of shares issued | 26,666,666 | |||||||
Proceeds from sale of common shares | $ 9,200,000 | |||||||
November 2020 Offering [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Number of warrants to purchase common stock | 13,333,333 | |||||||
Proceeds from sale of common shares | $ 9,200,000 | |||||||
Underwriters [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 3,999,999 | |||||||
Warrant exercises shares | 1,999,999 | |||||||
Merger Agreement [Member] | Biosight Ltd and AdvaxisLtd [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Equity Method Investment, Ownership Percentage | 25.00% | |||||||
Common stock, par value | $ 0.001 | |||||||
Termination fee | $ 7,500,000 | |||||||
Merger Agreement [Member] | Biosight Ltd [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Equity Method Investment, Ownership Percentage | 75.00% | |||||||
Definitive Agreements [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Number of warrants to purchase common stock | 11,244,135 | |||||||
Definitive Agreements [Member] | April 2021 Offering [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Number of warrants to purchase common stock | 14,005,202 | |||||||
Proceeds from sale of common shares | $ 20,000,000 | |||||||
Definitive Agreements [Member] | Investor [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Number of shares issued | 17,577,400 | |||||||
Pre-funded warrants to purchase common shares | 7,671,937 | |||||||
Number of warrants to purchase common stock | 7,671,937 |
SCHEDULE OF ANTI-DILUTIVE SECUR
SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM DILUTED NET LOSS PER SHARE (Details) - shares | 9 Months Ended | |
Jul. 31, 2021 | Jul. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 31,125,869 | 5,991,283 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 30,225,397 | 5,070,888 |
Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 900,472 | 914,577 |
Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 5,818 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (Details Narrative) - $ / shares | 9 Months Ended | |
Jul. 31, 2021 | Jul. 31, 2020 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Number of securities included in computation of basic earnings per share | 31,125,869 | 5,991,283 |
Exercise price | $ 0 | $ 0 |
Warrant [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Number of securities included in computation of basic earnings per share | 0 | 327,338 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Oct. 31, 2020 |
Property, Plant and Equipment [Abstract] | ||
Leasehold improvements | $ 2,335 | |
Laboratory equipment | 373 | 1,218 |
Furniture and fixtures | 744 | |
Computer equipment | 409 | 409 |
Construction in progress | 19 | |
Total property and equipment | 782 | 4,725 |
Accumulated depreciation and amortization | (504) | (2,332) |
Net property and equipment | $ 278 | $ 2,393 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Impaired Assets to be Disposed of by Method Other than Sale [Line Items] | ||||
Depreciation expense | $ 50,000 | $ 200,000 | $ 366,000 | $ 683,000 |
Loss on disposal of equipment | $ 1,530,000 | |||
Research and Development Expense [Member] | ||||
Impaired Assets to be Disposed of by Method Other than Sale [Line Items] | ||||
Loss on disposal of equipment | (1,000,000) | |||
General and Administrative Expense [Member] | ||||
Impaired Assets to be Disposed of by Method Other than Sale [Line Items] | ||||
Loss on disposal of equipment | $ (500,000) |
SUMMARY OF INTANGIBLE ASSETS (D
SUMMARY OF INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Oct. 31, 2020 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Patents | $ 4,705 | $ 4,479 |
Licenses | 777 | 777 |
Software | 117 | 117 |
Total intangibles | 5,599 | 5,373 |
Accumulated amortization | (2,308) | (2,112) |
Intangible assets | $ 3,291 | $ 3,261 |
SCHEDULE OF CARRYING VALUE OF I
SCHEDULE OF CARRYING VALUE OF INTANGIBLE ASSETS (Details) $ in Thousands | Jul. 31, 2021USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2021 (Remaining) | $ 68 |
2022 | 273 |
2023 | 273 |
2024 | 273 |
2025 | 273 |
Thereafter | 2,131 |
Total | $ 3,291 |
INTANGIBLE ASSETS (Details Narr
INTANGIBLE ASSETS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Goodwill [Line Items] | ||||
Expiration of patents description | The expiration dates of the existing patents range from 2021 to 2039 | |||
Book value patent applications, net | $ 90,000 | $ 892,000 | ||
Intangible asset amortization expense | 203,000 | 263,000 | ||
General and Administrative Expense [Member] | ||||
Goodwill [Line Items] | ||||
Book value patent applications, net | $ 21,000 | $ 300,000 | 90,000 | 900,000 |
Intangible asset amortization expense | $ 68,000 | $ 79,000 | $ 200,000 | $ 300,000 |
SUMMARY OF ACCRUED EXPENSES (De
SUMMARY OF ACCRUED EXPENSES (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Oct. 31, 2020 |
Payables and Accruals [Abstract] | ||
Salaries and other compensation | $ 634 | $ 737 |
Vendors | 1,168 | 671 |
Professional fees | 404 | 329 |
Total accrued expenses | $ 2,206 | $ 1,737 |
SCHEDULE OF OUTSTANDING WARRANT
SCHEDULE OF OUTSTANDING WARRANTS (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Jul. 31, 2021 | Oct. 31, 2020 | |
Summary of Investment Holdings [Line Items] | ||
Number of Shares Underlying Warrants | 30,225,397 | 398,226 |
Exercise Price Range One [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Exercise Price | $ 281.25 | |
Number of Shares Underlying Warrants | 25 | 327,338 |
Type of Financing | Other warrants | July 2019 Public Offering |
Expiration Date | Jul. 31, 2024 | |
Exercise Price Range Two [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Exercise Price | $ 0.30 | $ 281.25 |
Number of Shares Underlying Warrants | 70,297 | 25 |
Type of Financing | September 2018 Public Offering | Other Warrants |
Expiration Date | Jul. 31, 2024 | |
Exercise Price Range Three [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Exercise Price | $ 2.80 | $ 0.372 |
Number of Shares Underlying Warrants | 327,338 | 70,863 |
Type of Financing | July 2019 Public Offering | September 2018 Public Offering |
Expiration Date | Sep. 30, 2024 | Sep. 30, 2024 |
Exercise Price Range Four [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Exercise Price | $ 0.35 | |
Number of Shares Underlying Warrants | 4,578,400 | |
Type of Financing | November 2020 Public Offering | |
Expiration Date | Nov. 30, 2025 | |
Exercise Price Range Five [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Exercise Price | $ 0.70 | |
Number of Shares Underlying Warrants | 11,244,135 | |
Type of Financing | April 2021 Registered Direct Offering (Accompanying Warrants) | |
Expiration Date | Apr. 30, 2026 | |
Exercise Price Range Six [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Exercise Price | $ 0.70 | |
Number of Shares Underlying Warrants | 14,005,202 | |
Type of Financing | April 2021 Private Placement (Private Placement Warrants) | |
Expiration date description | 5 years after the date such warrants become exercisable, if ever |
SCHEDULE OF WARRANTS ACTIVITY (
SCHEDULE OF WARRANTS ACTIVITY (Details) $ / shares in Units, $ in Thousands | 9 Months Ended |
Jul. 31, 2021USD ($)$ / sharesshares | |
Common Stock Purchase Warrants And Warrant Liability | |
Warrants, Outstanding and exercisable warrants, Beginning balance | shares | 398,226 |
Weighted Average Exercise Price, Outstanding and exercisable warrants, Beginning | $ / shares | $ 0.08 |
Weighted Average Remaining Contractual Life In Years, Outstanding and exercisable warrants, Beginning | 3 years 9 months 3 days |
Aggregate Intrinsic Value, Beginning | $ | $ 110,640 |
Warrants, Issued | shares | 48,254,606 |
Weighted Average Exercise Price, Issued | $ / shares | $ 0.48 |
Warrants, Exercised | shares | (18,427,435) |
Weighted Average Exercise Price, Exercised | $ / shares | $ 0.20 |
Warrants, Outstanding and exercisable warrants, Ending balance | shares | 30,225,397 |
Weighted Average Exercise Price, Outstanding and exercisable warrants, Ending | $ / shares | $ 0.64 |
Weighted Average Remaining Contractual Life In Years, Outstanding and exercisable warrants, Ending balance | 4 years 7 months 13 days |
Aggregate Intrinsic Value, Ending | $ | $ 282,437 |
SCHEDULE OF ASSUMPTIONS USED IN
SCHEDULE OF ASSUMPTIONS USED IN WARRANT LIABILITY (Details) | Jul. 31, 2021$ / shares | Apr. 14, 2021$ / shares | Nov. 30, 2020$ / shares | Oct. 31, 2020$ / shares | Jul. 31, 2020$ / shares |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Stock Price | $ 0 | $ 0 | |||
Private Placement [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Exercise Price | $ 0.35 | ||||
Expected Term | 5 years | ||||
Warrant Liability [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Exercise Price | 0.30 | $ 0.37 | |||
Stock Price | $ 0.41 | $ 0.34 | |||
Warrant Liability [Member] | Measurement Input, Expected Term [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Expected Term | 3 years 1 month 13 days | 3 years 10 months 13 days | |||
Warrant Liability [Member] | Measurement Input, Price Volatility [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Measurement input percentage | 1.23 | 1.06 | |||
Warrant Liability [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Measurement input percentage | 0.0035 | 0.0029 | |||
Warrant Liability [Member] | Private Placement [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Exercise Price | $ 0.70 | $ 0.70 | |||
Stock Price | $ 0.41 | $ 0.57 | |||
Warrant Liability [Member] | Private Placement [Member] | Measurement Input, Expected Term [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Expected Term | 5 years | 5 years | |||
Warrant Liability [Member] | Private Placement [Member] | Measurement Input, Price Volatility [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Measurement input percentage | 1.07 | 1.06 | |||
Warrant Liability [Member] | Private Placement [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Measurement input percentage | 0.0069 | 0.0085 |
COMMON STOCK PURCHASE WARRANT_3
COMMON STOCK PURCHASE WARRANTS AND WARRANT LIABILITY (Details Narrative) - $ / shares | 9 Months Ended | 12 Months Ended |
Jul. 31, 2021 | Oct. 31, 2020 | |
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Warrants outstanding | 30,225,397 | |
Number of warrants to purchase common stock | 30,225,397 | 398,226 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 170,000,000 | 170,000,000 |
IPO [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Common stock, shares authorized | 300,000,000 | |
Equity Warrants [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Number of warrants to purchase common stock | 18,910,965 | 327,363 |
Warrant Liability [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Number of warrants to purchase common stock | 11,314,432 | 70,863 |
Warrant exercise price per share | $ 0.30 | $ 0.37 |
Exercise Price Range One [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Number of warrants to purchase common stock | 25 | 327,338 |
Warrant exercise price per share | $ 281.25 | |
Expiration Date | Jul. 31, 2024 | |
Type of Financing | Other warrants | July 2019 Public Offering |
Exercise Price Range Two [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Number of warrants to purchase common stock | 70,297 | 25 |
Warrant exercise price per share | $ 0.30 | $ 281.25 |
Expiration Date | Jul. 31, 2024 | |
Type of Financing | September 2018 Public Offering | Other Warrants |
Exercise Price Range Three [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Number of warrants to purchase common stock | 327,338 | 70,863 |
Warrant exercise price per share | $ 2.80 | $ 0.372 |
Expiration Date | Sep. 30, 2024 | Sep. 30, 2024 |
Type of Financing | July 2019 Public Offering | September 2018 Public Offering |
Minimum [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Warrant exercise price per share | $ 0.30 | $ 0 |
Minimum [Member] | Warrant Liability [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Warrant exercise price per share | 0.30 | |
Maximum [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Warrant exercise price per share | 281.25 | $ 281.25 |
Maximum [Member] | Warrant Liability [Member] | ||
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items] | ||
Warrant exercise price per share | $ 22.50 |
SUMMARY OF SHARE BASED COMPENSA
SUMMARY OF SHARE BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based compensation expense | $ 60 | $ 255 | $ 511 | $ 708 |
Research and Development Expense [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based compensation expense | 29 | 79 | 142 | 233 |
General and Administrative Expense [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based compensation expense | $ 31 | $ 176 | $ 369 | $ 475 |
SUMMARY OF RSU ACTIVITY AND REL
SUMMARY OF RSU ACTIVITY AND RELATED INFORMATION (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands | 9 Months Ended |
Jul. 31, 2021$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of RSUs, Unvested Beginning Balance | 5,556 |
Weighted-Average Grant Date Fair Value, Unvested Beginning Balance | $ / shares | $ 24.32 |
Number of RSUs, Vested | (5,555) |
Number of RSUs, Cancelled | (1) |
Number of RSUs, Unvested Ending Balance | |
Weighted-Average Grant Date Fair Value, Unvested Ending Balance | $ / shares |
SUMMARY OF CHANGES IN STOCK OPT
SUMMARY OF CHANGES IN STOCK OPTION PLAN (Details) $ / shares in Units, $ in Thousands | 9 Months Ended |
Jul. 31, 2021USD ($)$ / sharesshares | |
Share-based Payment Arrangement [Abstract] | |
Shares, Outstanding, Beginning Balance | shares | 1,011,768 |
Weighted Average Exercise Price, Outstanding, Beginning | $ / shares | $ 33.43 |
Weighted Average Remaining Contractual Life In Years, Outstanding, Beginning | 8 years 14 days |
Aggregate Intrinsic Value, Beginning | $ | $ 4 |
Shares, Granted | shares | 50,000 |
Weighted Average Exercise Price, Granted | $ / shares | $ 0.39 |
Shares, Exercised | shares | (333) |
Weighted average exercise price, Exercised | $ / shares | $ 0.30 |
Shares, Cancelled or Expired | shares | (160,963) |
Weighted Average Exercise Price, Cancelled or Expired | $ / shares | $ 102.78 |
Shares, Outstanding, Ending Balance | shares | 900,472 |
Weighted Average Exercise Price, Outstanding, Ending | $ / shares | $ 19.21 |
Weighted Average Remaining Contractual Life In Years, Outstanding, Ending balance | 8 years 3 days |
Aggregate Intrinsic Value, Ending | $ | $ 14 |
Shares, Vested and Exercisable | shares | 365,964,000 |
Weighted Average Exercise Price, Vested and Exercisable | $ / shares | $ 46.14 |
Weighted Average Remaining Contractual Life In Years, Vested and Exercisable | 6 years 10 months 6 days |
Aggregate Intrinsic Value, Vested and Exercisable | $ | $ 4 |
SUMMARY OF OUTSTANDING AND EXER
SUMMARY OF OUTSTANDING AND EXERCISABLE OPTIONS (Details) | 9 Months Ended |
Jul. 31, 2021$ / sharesshares | |
Exercise Price Range One [Member] | |
Summary of Investment Holdings [Line Items] | |
Exercise Price Range, lower limit | $ 0.30 |
Exercise Price Range, upper limit | $ 10 |
Number Outstanding, Options Outstanding | shares | 734,033 |
Weighted Average Remaining Contractual, Options Outstanding | 8 years 8 months 4 days |
Weighted Average Exercise Price, Options Outstanding | $ 1.06 |
Number Outstanding, Options Exercisable | shares | 200,080 |
Weighted Average Remaining Contractual Term Exercisable, Options Exercisable | 8 years 4 months 6 days |
Weighted Average Exercise Price, Options Exercisable | $ 1.86 |
Exercise Price Range Two [Member] | |
Summary of Investment Holdings [Line Items] | |
Exercise Price Range, lower limit | 10.01 |
Exercise Price Range, upper limit | $ 100 |
Number Outstanding, Options Outstanding | shares | 90,750 |
Weighted Average Remaining Contractual, Options Outstanding | 6 years 5 months 23 days |
Weighted Average Exercise Price, Options Outstanding | $ 29.01 |
Number Outstanding, Options Exercisable | shares | 90,195 |
Weighted Average Remaining Contractual Term Exercisable, Options Exercisable | 6 years 5 months 19 days |
Weighted Average Exercise Price, Options Exercisable | $ 29.12 |
Exercise Price Range Three [Member] | |
Summary of Investment Holdings [Line Items] | |
Exercise Price Range, lower limit | 100.01 |
Exercise Price Range, upper limit | $ 200 |
Number Outstanding, Options Outstanding | shares | 50,965 |
Weighted Average Remaining Contractual, Options Outstanding | 3 years 8 months 23 days |
Weighted Average Exercise Price, Options Outstanding | $ 162.16 |
Number Outstanding, Options Exercisable | shares | 50,965 |
Weighted Average Remaining Contractual Term Exercisable, Options Exercisable | 3 years 8 months 23 days |
Weighted Average Exercise Price, Options Exercisable | $ 162.16 |
Exercise Price Range Four [Member] | |
Summary of Investment Holdings [Line Items] | |
Exercise Price Range, lower limit | 200.01 |
Exercise Price Range, upper limit | $ 277.50 |
Number Outstanding, Options Outstanding | shares | 24,724 |
Weighted Average Remaining Contractual, Options Outstanding | 2 years 5 months 19 days |
Weighted Average Exercise Price, Options Outstanding | $ 227.40 |
Number Outstanding, Options Exercisable | shares | 24,724 |
Weighted Average Remaining Contractual Term Exercisable, Options Exercisable | 2 years 5 months 19 days |
Weighted Average Exercise Price, Options Exercisable | $ 227.40 |
SUMMARY OF FAIR VALUE OF STOCK
SUMMARY OF FAIR VALUE OF STOCK OPTIONS GRANTED OF BSM (Details) | 9 Months Ended |
Jul. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Expected Term | 6 years |
Expected Volatility | 103.27% |
Expected Dividends | 0.00% |
Risk Free Interest Rate | 0.53% |
SHARE BASED COMPENSATION (Detai
SHARE BASED COMPENSATION (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation cost related to outstanding stock options | $ 200,000 | $ 200,000 | ||
Stock compensation expense | $ 60,000 | $ 255,000 | $ 511,000 | $ 708,000 |
Stock granted options to purchase | 50,000 | |||
Stock option term | ten | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 3 years | |||
Stock option exercise price | $ 0.39 | $ 0.39 | ||
Compensation cost related to outstanding stock options | $ 60,000 | $ 200,000 | $ 400,000 | $ 600,000 |
Unrecognized compensation cost related to non-vested remaining weighted average vesting period | 1 year 7 months 17 days | |||
Aggregate intrinsic value of vested and exercisable options | $ 4,000 | $ 4,000 | ||
Aggregate intrinsic value of non-vested options | $ 10,000 | |||
Chief Executive Officer [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, options, nonvested, number of shares | 73,777 | 73,777 | ||
2018 Employee Stock Purchase Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares issued under employee stock purchase plan | 1,000 | 11,148 | ||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation cost related to outstanding stock options | $ 0 | $ 0 | ||
Employee Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation, common stock, shares | 0 | 0 | 5,555 | 8,608 |
Stock compensation expense | $ 0 | $ 40,000 | $ 67,000 | $ 100,000 |
LICENSING AGREEMENTS (Details N
LICENSING AGREEMENTS (Details Narrative) - USD ($) | Apr. 30, 2020 | Jan. 31, 2021 | Dec. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | May 31, 2021 | Apr. 26, 2021 |
Multiemployer Plan [Line Items] | |||||||||
Revenue | $ 250,000 | $ 3,240,000 | $ 253,000 | ||||||
Global BioPharma, Inc [Member] | License and Service [Member] | |||||||||
Multiemployer Plan [Line Items] | |||||||||
Revenue | $ 300,000 | $ 300,000 | |||||||
Development, License and Supply Agreement [Member] | OS Therapies [Member] | |||||||||
Multiemployer Plan [Line Items] | |||||||||
Revenue | $ 25,000 | ||||||||
Funding milestone payment | $ 2,337,500 | ||||||||
Milestone set forth in the License Agreement [Member] | OS Therapies LLC [Member] | |||||||||
Multiemployer Plan [Line Items] | |||||||||
Revenue | $ 1,615,000 | $ 1,615,000 | |||||||
Milestone achievement, description | the Company received an aggregate of $1,615,000 from OS Therapies upon achievement of the funding milestone set forth in the license agreement | the Company received an aggregate of $1,615,000 from OS Therapies upon achievement of the funding milestone set forth in the license agreement | |||||||
Second Mile Stone License Agreement [Member] | OS Therapies [Member] | |||||||||
Multiemployer Plan [Line Items] | |||||||||
Due from affiliate | $ 1,375,000 | $ 1,375,000 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Thousands | 11 Months Ended | |
Jul. 31, 2021 | Oct. 31, 2020 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Employee bonuses | $ 634 | $ 737 |
Merger Agreement [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Employee bonuses | 1,000 | |
Termination payments | 2,500 | |
Payments to insurance policy | 2,000 | |
Success fee | $ 500 |
SCHEDULE OF LEASE EXPENSES (Det
SCHEDULE OF LEASE EXPENSES (Details) - General and Administrative Expense [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Operating lease cost | $ 290 | $ 1,301 | $ 869 | |
Short-term lease cost | 12 | 83 | 16 | 249 |
Variable lease cost | 4 | 108 | 165 | 282 |
Total lease expense | $ 16 | $ 481 | $ 1,482 | $ 1,400 |
SCHEDULE OF CASH FLOW INFORMATI
SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Leases [Abstract] | ||||
Cash paid for operating lease liabilities | $ 311 | $ 1,363 | $ 922 |
LEASES (Details Narrative)
LEASES (Details Narrative) - USD ($) | Mar. 25, 2021 | Jul. 31, 2021 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Operating lease expiration | expire in November 2025 | |
Early termination of lease payment | $ 1,000,000 | |
Security deposit | 182,000 | |
Net payment of lease termination fee | 818,000 | |
Write off of the remaining right of use asset | 4,500,000 | |
write off of lease liability | 5,600,000 | |
Gain on termination of lease | $ 100,000 | |
New Lease Agreement [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Operating lease expiration | The lease expires on March 25, 2022 and the Company has the option to renew the lease for one additional successive one-year term upon six months written notice to the landlord. This new lease is accounted for as a short-term lease and the Company has elected to not recognize the right-of-use asset and lease liability. | |
Rent expense | $ 29,000 |
SUMMARY OF STOCKHOLDERS EQUITY
SUMMARY OF STOCKHOLDERS EQUITY (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Jul. 31, 2021 | Apr. 30, 2021 | Jan. 31, 2021 | Jul. 31, 2020 | Apr. 30, 2020 | Jan. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning balance | $ 47,551 | $ 37,575 | $ 30,180 | $ 35,437 | $ 41,548 | $ 39,531 | $ 30,180 | $ 39,531 |
Stock-based compensation | 60 | 215 | 236 | 255 | 210 | 242 | ||
Advaxis public offerings, net of offering costs | 13,683 | 8,550 | 9,628 | |||||
Warrant exercises | 1,185 | 2,586 | 2 | |||||
Issuance of shares to employees under ESPP Plan | 2 | 2 | 2 | |||||
Tax withholdings paid on equity awards | (1) | |||||||
Tax shares sold to pay for tax withholdings on equity awards | 1 | |||||||
At-the-market shares issued, net of offering costs | 957 | |||||||
Commitment fee shares issued for equity line | 644 | 644 | ||||||
Stock option exercises | ||||||||
Stock option exercises, shares | 333 | |||||||
Net Loss | (3,334) | (5,107) | (3,977) | (5,829) | (6,323) | (7,857) | $ (12,418) | (20,009) |
Ending balance | 44,277 | 47,551 | 37,575 | 31,466 | 35,437 | 41,548 | 44,277 | 31,466 |
Preferred Stock [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning balance | ||||||||
Beginning balance, shares | ||||||||
Stock-based compensation | ||||||||
Stock-based compensation, shares | ||||||||
Advaxis public offerings, net of offering costs | ||||||||
Advaxis public offerings, net of offering costs, shares | ||||||||
Warrant exercises | ||||||||
Warrant exercises, shares | ||||||||
Issuance of shares to employees under ESPP Plan | ||||||||
Issuance of shares to employees under ESPP Plan, shares | ||||||||
Tax withholdings paid on equity awards | ||||||||
Tax shares sold to pay for tax withholdings on equity awards | ||||||||
At-the-market shares issued, net of offering costs | ||||||||
At-the-market shares issued, net of offering costs, shares | ||||||||
Commitment fee shares issued for equity line | ||||||||
Commitment fee shares issued for equity line, shares | ||||||||
Stock option exercises | ||||||||
Stock option exercises, shares | 333 | |||||||
Net Loss | ||||||||
Ending balance | ||||||||
Ending balance, shares | ||||||||
Common Stock [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning balance | $ 146 | $ 116 | $ 78 | $ 60 | $ 60 | $ 50 | $ 78 | $ 50 |
Beginning balance, shares | 145,638,459 | 116,130,688 | 78,074,023 | 60,252,444 | 60,236,599 | 50,201,671 | 78,074,023 | 50,201,671 |
Stock-based compensation | ||||||||
Stock-based compensation, shares | 5,888 | 5,651 | 2,957 | |||||
Advaxis public offerings, net of offering costs | $ 19 | $ 31 | $ 10 | |||||
Advaxis public offerings, net of offering costs, shares | 18,463,448 | 30,666,665 | 10,000,000 | |||||
Warrant exercises | $ 11 | $ 7 | ||||||
Warrant exercises, shares | 11,037,435 | 7,390,000 | 7,500 | 26,416 | ||||
Issuance of shares to employees under ESPP Plan | ||||||||
Issuance of shares to employees under ESPP Plan, shares | 1,000 | 2,899 | 2,694 | 5,555 | ||||
Tax withholdings paid on equity awards | ||||||||
Tax shares sold to pay for tax withholdings on equity awards | ||||||||
At-the-market shares issued, net of offering costs | $ 1 | |||||||
At-the-market shares issued, net of offering costs, shares | 1,375,337 | |||||||
Commitment fee shares issued for equity line | $ 1 | |||||||
Commitment fee shares issued for equity line, shares | 1,084,266 | |||||||
Stock option exercises | ||||||||
Stock option exercises, shares | ||||||||
Net Loss | ||||||||
Ending balance | $ 146 | $ 146 | $ 116 | $ 62 | $ 60 | $ 60 | $ 146 | $ 62 |
Ending balance, shares | 145,638,459 | 145,638,459 | 116,130,688 | 62,714,946 | 60,252,444 | 60,236,599 | 145,638,459 | 62,714,946 |
Additional Paid-in Capital [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning balance | $ 467,227 | $ 452,174 | $ 440,840 | $ 433,826 | $ 433,614 | $ 423,750 | $ 440,840 | $ 423,750 |
Stock-based compensation | 60 | 215 | 236 | 255 | 210 | 242 | ||
Advaxis public offerings, net of offering costs | 13,664 | 8,519 | 9,618 | |||||
Warrant exercises | 1,174 | 2,579 | 2 | |||||
Issuance of shares to employees under ESPP Plan | 2 | 2 | 2 | |||||
Tax withholdings paid on equity awards | (1) | |||||||
Tax shares sold to pay for tax withholdings on equity awards | 1 | |||||||
At-the-market shares issued, net of offering costs | 956 | |||||||
Commitment fee shares issued for equity line | 643 | |||||||
Stock option exercises | ||||||||
Net Loss | ||||||||
Ending balance | 467,287 | 467,227 | 452,174 | 435,682 | 433,826 | 433,614 | 467,287 | 435,682 |
Retained Earnings [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning balance | (419,822) | (414,715) | (410,738) | (398,449) | (392,126) | (384,269) | (410,738) | (384,269) |
Stock-based compensation | ||||||||
Advaxis public offerings, net of offering costs | ||||||||
Warrant exercises | ||||||||
Issuance of shares to employees under ESPP Plan | ||||||||
Tax withholdings paid on equity awards | ||||||||
Tax shares sold to pay for tax withholdings on equity awards | ||||||||
At-the-market shares issued, net of offering costs | ||||||||
Commitment fee shares issued for equity line | ||||||||
Stock option exercises | ||||||||
Net Loss | (3,334) | (5,107) | (3,977) | (5,829) | (6,323) | (7,857) | ||
Ending balance | $ (423,156) | $ (419,822) | $ (414,715) | $ (404,278) | $ (398,449) | $ (392,126) | $ (423,156) | $ (404,278) |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 9 Months Ended | |||
Apr. 30, 2021 | Mar. 31, 2021 | Nov. 30, 2020 | Jul. 31, 2021 | Oct. 31, 2020 | |
Subsidiary, Sale of Stock [Line Items] | |||||
Common stock, par value | $ 0.001 | $ 0.001 | |||
Number of warrants to purchase common stock | 30,225,397 | 398,226 | |||
Common stock, authorized | 170,000,000 | 170,000,000 | |||
Net proceeds from offering | $ 8.5 | ||||
Amended and Restated Certificate of Incorporation [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Common stock, par value | $ 0.001 | ||||
Pre-Funded Warrants [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Warrants exercise price | $ 0.70 | ||||
Maximum [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Warrants exercise price | $ 281.25 | $ 281.25 | |||
Maximum [Member] | Amended and Restated Certificate of Incorporation [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Common stock, authorized | 300,000,000 | ||||
Minimum [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Warrants exercise price | $ 0.30 | $ 0 | |||
Minimum [Member] | Amended and Restated Certificate of Incorporation [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Common stock, authorized | 170,000,000 | ||||
Securities Purchase Agreements [Member] | Pre-Funded Warrants [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Common stock, par value | $ 0.001 | ||||
Share price per share | $ 0.7911 | ||||
ATM [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Number of common stock shares sold | 886,048 | ||||
Proceeds from sale of common shares | $ 0.7 | ||||
IPO [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Number of common stock shares sold | 30,666,665 | ||||
Share price per share | $ 0.30 | ||||
Common stock, authorized | 300,000,000 | ||||
Proceeds from sale of common shares | $ 9.2 | ||||
Net proceeds from offering | $ 3.8 | ||||
IPO [Member] | Pre-Funded Warrants [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Pre-funded warrants to purchase common shares | 7,671,937 | ||||
IPO [Member] | Warrant [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Number of warrants to purchase common stock | 10,754,932 | ||||
IPO [Member] | Common Stock [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Pre-funded warrants to purchase common shares | 7,671,937 | ||||
Number of warrants to purchase common stock | 10,754,932 | ||||
IPO [Member] | Securities Purchase Agreements [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Number of common stock shares sold | 17,577,400 | ||||
Common stock, par value | $ 0.001 | ||||
Share price per share | $ 0.7921 | ||||
Pre-funded warrants to purchase common shares | 7,671,937 | ||||
Ownership percentage | 9.99% | ||||
IPO [Member] | Securities Purchase Agreements [Member] | Maximum [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Number of warrants to purchase common stock | 11,244,135 | ||||
Private Placement [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Number of warrants to purchase common stock | 14,005,202 | 15,333,332 | |||
Warrants exercise price | $ 0.35 | ||||
Warrant term | 5 years | ||||
Private Placement [Member] | Purchase Agreement [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Number of warrants to purchase common stock | 14,005,202 | ||||
Warrants exercise price | $ 0.70 |
SCHEDULE OF FAIR VALUE, ASSETS
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS (Details) - USD ($) $ / shares in Units, $ in Thousands | Jul. 31, 2021 | Oct. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | $ 4,085 | $ 17 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | ||
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | ||
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | $ 4,085 | |
Through September 2024 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Warrant exercise price per share | $ 0.30 | $ 0.372 |
Common stock warrant liability, warrants exercisable | $ 24 | $ 17 |
Through September 2024 [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | ||
Through September 2024 [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | ||
Through September 2024 [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | $ 24 | $ 17 |
Through 5 Years [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Warrant exercise price per share | $ 0.70 | |
Common stock warrant liability, warrants exercisable | $ 4,061 | |
Through 5 Years [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | ||
Through 5 Years [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | ||
Through 5 Years [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Common stock warrant liability, warrants exercisable | $ 4,061 |
SCHEDULE OF CHANGES IN FAIR VAL
SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANT LIABILITIES (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Apr. 30, 2021 | Jan. 31, 2021 | Apr. 30, 2020 | Jan. 31, 2020 | Jul. 31, 2021 | |
Fair Value Disclosures [Abstract] | |||||
Beginning balance | $ 17 | $ 17 | |||
Warrants issued | 5,882 | ||||
Warrant exercises | $ 1,185 | $ 2,586 | $ 2 | ||
Change in fair value | (1,814) | ||||
Ending Balance | $ 4,085 |