Cover
Cover - shares | 6 Months Ended | |
Apr. 30, 2024 | Jun. 04, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Apr. 30, 2024 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --10-31 | |
Entity File Number | 001-37492 | |
Entity Registrant Name | ANIXA BIOSCIENCES, INC. | |
Entity Central Index Key | 0000715446 | |
Entity Tax Identification Number | 11-2622630 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 3150 Almaden Expressway | |
Entity Address, Address Line Two | Suite 250 | |
Entity Address, City or Town | San Jose | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95118 | |
City Area Code | (408) | |
Local Phone Number | 708-9808 | |
Title of 12(b) Security | Common Stock, par value $.01 per share | |
Trading Symbol | ANIX | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 32,006,460 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Apr. 30, 2024 | Oct. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 995 | $ 915 |
Short-term investments | 22,244 | 22,929 |
Receivables | 218 | 270 |
Prepaid expenses and other current assets | 757 | 1,242 |
Total current assets | 24,214 | 25,356 |
Operating lease right-of-use asset | 141 | 166 |
Total assets | 24,355 | 25,522 |
Current liabilities: | ||
Accounts payable | 215 | 206 |
Accrued expenses | 1,410 | 1,770 |
Operating lease liability | 56 | 52 |
Total current liabilities | 1,681 | 2,028 |
Operating lease liability, non-current | 93 | 123 |
Total liabilities | 1,774 | 2,151 |
Commitments and contingencies (Note 10) | ||
Equity: | ||
Preferred stock, value | ||
Common stock, par value $.01 per share; 100,000,000 shares authorized; 32,006,460 and 31,145,219 shares issued and outstanding as of April 30, 2024 and October 31, 2023, respectively | 320 | 311 |
Additional paid-in capital | 257,893 | 252,222 |
Accumulated deficit | (234,590) | (228,196) |
Total shareholders’ equity | 23,623 | 24,337 |
Noncontrolling interest (Note 2) | (1,042) | (966) |
Total equity | 22,581 | 23,371 |
Total liabilities and equity | 24,355 | 25,522 |
Series A Convertible Preferred Stock [Member] | ||
Equity: | ||
Preferred stock, value |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Apr. 30, 2024 | Oct. 31, 2023 |
Preferred stock, par value | $ 100 | $ 100 |
Preferred stock, shares authorized | 19,860 | 19,860 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 32,006,460 | 31,145,219 |
Common stock, shares outstanding | 32,006,460 | 31,145,219 |
Series A Convertible Preferred Stock [Member] | ||
Preferred stock, par value | $ 100 | $ 100 |
Preferred stock, shares authorized | 140 | 140 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2024 | Apr. 30, 2023 | Apr. 30, 2024 | Apr. 30, 2023 | |
Income Statement [Abstract] | ||||
Revenue | $ 210 | $ 210 | ||
Operating costs and expenses: | ||||
Inventor royalties, contingent legal fees, litigation and licensing expenses | 161 | 161 | ||
Research and development expenses (including non-cash stock-based compensation expenses of $520, $492, $1,009 and $998, respectively) | 1,646 | 998 | 2,995 | 2,066 |
General and administrative expenses (including non-cash stock-based compensation expenses of $740, $735, $1,511 and $1,292, respectively) | 1,821 | 1,611 | 4,081 | 3,099 |
Total operating costs and expenses | 3,467 | 2,770 | 7,076 | 5,326 |
Loss from operations | (3,467) | (2,560) | (7,076) | (5,116) |
Interest income | 287 | 253 | 606 | 455 |
Net loss | (3,180) | (2,307) | (6,470) | (4,661) |
Less: Net loss attributable to noncontrolling interest | (41) | (19) | (76) | (51) |
Net loss attributable to common shareholders | $ (3,139) | $ (2,288) | $ (6,394) | $ (4,610) |
Net loss per common share attributable to common shareholders: | ||||
Basic | $ (0.10) | $ (0.07) | $ (0.20) | $ (0.15) |
Diluted | $ (0.10) | $ (0.07) | $ (0.20) | $ (0.15) |
Weighted average common shares outstanding: | ||||
Basic | 31,914 | 30,930 | 31,677 | 30,924 |
Diluted | 31,914 | 30,930 | 31,677 | 30,924 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2024 | Apr. 30, 2023 | Apr. 30, 2024 | Apr. 30, 2023 | |
Research and Development Expense [Member] | ||||
Non-cash share-based compensation expenses | $ 520 | $ 492 | $ 1,009 | $ 998 |
General and Administrative Expense [Member] | ||||
Non-cash share-based compensation expenses | $ 740 | $ 735 | $ 1,511 | $ 1,292 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Equity (Unaudited) - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] |
Balance at Oct. 31, 2022 | $ 28,200,000 | $ 309,000 | $ 247,123,000 | $ (218,385,000) | $ 29,047,000 | $ (847,000) |
Balance, shares at Oct. 31, 2022 | 30,913,902 | |||||
Stock option compensation to employees and directors | 2,112,000 | 2,112,000 | 2,112,000 | |||
Stock options issued to consultants | 128,000 | 128,000 | 128,000 | |||
Common stock issued upon exercise of stock options | 78,000 | $ 1,000 | 77,000 | 78,000 | ||
Common stock issued upon exercise of stock options, shares | 29,382 | |||||
Common stock issued to consultants | 50,000 | 50,000 | 50,000 | |||
Common stock issued to consultants, shares | 13,478 | |||||
Common stock issued pursuant to an employee stock purchase plan | 6,000 | 6,000 | 6,000 | |||
Common stock issued pursuant to an employee stock purchase plan | 1,903 | |||||
Net loss | (4,661,000) | (4,610,000) | (4,610,000) | (51,000) | ||
Balance at Apr. 30, 2023 | 25,913,000 | $ 310,000 | 249,496,000 | (222,995,000) | 26,811,000 | (898,000) |
Balance, shares at Apr. 30, 2023 | 30,958,665 | |||||
Balance at Jan. 31, 2023 | 26,912,000 | $ 309,000 | 248,189,000 | (220,707,000) | 27,791,000 | (879,000) |
Balance, shares at Jan. 31, 2023 | 30,922,830 | |||||
Stock option compensation to employees and directors | 1,155,000 | 1,155,000 | 1,155,000 | |||
Stock options issued to consultants | 47,000 | 47,000 | 47,000 | |||
Common stock issued upon exercise of stock options | 75,000 | $ 1,000 | 74,000 | 75,000 | ||
Common stock issued upon exercise of stock options, shares | 27,818 | |||||
Common stock issued to consultants | 25,000 | 25,000 | 25,000 | |||
Common stock issued to consultants, shares | 6,114 | |||||
Common stock issued pursuant to an employee stock purchase plan | 6,000 | 6,000 | 6,000 | |||
Common stock issued pursuant to an employee stock purchase plan | 1,903 | |||||
Net loss | (2,307,000) | (2,288,000) | (2,288,000) | (19,000) | ||
Balance at Apr. 30, 2023 | 25,913,000 | $ 310,000 | 249,496,000 | (222,995,000) | 26,811,000 | (898,000) |
Balance, shares at Apr. 30, 2023 | 30,958,665 | |||||
Balance at Oct. 31, 2023 | 23,371,000 | $ 311,000 | 252,222,000 | (228,196,000) | 24,337,000 | (966,000) |
Balance, shares at Oct. 31, 2023 | 31,145,219 | |||||
Stock option compensation to employees and directors | 2,346,000 | 2,346,000 | 2,346,000 | |||
Stock options issued to consultants | 78,000 | 78,000 | 78,000 | |||
Common stock issued in an at-the-market offering, net of offering expenses | 3,029,000 | $ 8,000 | 3,021,000 | 3,029,000 | ||
Common stock issued in an at- the market offering, net of offering expenses, shares | 785,290 | |||||
Common stock issued upon exercise of stock options | 124,000 | 124,000 | 124,000 | |||
Common stock issued upon exercise of stock options, shares | 43,999 | |||||
Common stock issued to consultants | 96,000 | $ 1,000 | 95,000 | 96,000 | ||
Common stock issued to consultants, shares | 29,336 | |||||
Common stock issued pursuant to an employee stock purchase plan | 7,000 | 7,000 | 7,000 | |||
Common stock issued pursuant to an employee stock purchase plan | 2,616 | |||||
Net loss | (6,470,000) | (6,394,000) | (6,394,000) | (76,000) | ||
Balance at Apr. 30, 2024 | 22,581,000 | $ 320,000 | 257,893,000 | (234,590,000) | 23,623,000 | (1,042,000) |
Balance, shares at Apr. 30, 2024 | 32,006,460 | |||||
Balance at Jan. 31, 2024 | 23,604,000 | $ 318,000 | 255,738,000 | (231,451,000) | 24,605,000 | (1,001,000) |
Balance, shares at Jan. 31, 2024 | 31,754,375 | |||||
Stock option compensation to employees and directors | 1,238,000 | 1,238,000 | 1,238,000 | |||
Stock options issued to consultants | 22,000 | 22,000 | 22,000 | |||
Common stock issued in an at-the-market offering, net of offering expenses | 833,000 | $ 2,000 | 831,000 | 833,000 | ||
Common stock issued in an at- the market offering, net of offering expenses, shares | 229,470 | |||||
Common stock issued upon exercise of stock options | 57,000 | 57,000 | 57,000 | |||
Common stock issued upon exercise of stock options, shares | 19,999 | |||||
Common stock issued pursuant to an employee stock purchase plan | 7,000 | 7,000 | 7,000 | |||
Common stock issued pursuant to an employee stock purchase plan | 2,616 | |||||
Net loss | (3,180,000) | (3,139,000) | (3,139,000) | (41,000) | ||
Balance at Apr. 30, 2024 | $ 22,581,000 | $ 320,000 | $ 257,893,000 | $ (234,590,000) | $ 23,623,000 | $ (1,042,000) |
Balance, shares at Apr. 30, 2024 | 32,006,460 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Apr. 30, 2024 | Apr. 30, 2024 | |
Statement of Cash Flows [Abstract] | ||
Offering costs | $ 26 | $ 94 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Reconciliation of net loss to net cash used in operating activities: | ||
Net loss | $ (6,470) | $ (4,661) |
Stock option compensation to employees and directors | 2,346 | 2,112 |
Stock options issued to consultants | 78 | 128 |
Common stock issued to consultants | 96 | 50 |
Amortization of operating lease right-of-use asset | 25 | 23 |
Change in operating assets and liabilities: | ||
Receivables | 52 | (209) |
Prepaid expenses and other current assets | 485 | 286 |
Accounts payable | 9 | (69) |
Accrued expenses | (360) | (433) |
Operating lease liability | (26) | (22) |
Net cash used in operating activities | (3,765) | (2,795) |
Cash flows from investing activities: | ||
Disbursements to acquire short-term investments | (34,738) | (17,406) |
Proceeds from maturities of short-term investments | 35,423 | 13,377 |
Net cash provided by (used in) investing activities | 685 | (4,029) |
Cash flows from financing activities: | ||
Proceeds from sale of common stock in an at-the-market offering, net of offering expenses | 3,029 | |
Proceeds from sale of common stock pursuant to an employee stock purchase plan | 7 | 6 |
Proceeds from exercise of stock options | 124 | 78 |
Net cash provided by financing activities | 3,160 | 84 |
Net increase (decrease) in cash and cash equivalents | 80 | (6,740) |
Cash and cash equivalents at beginning of period | 915 | 12,360 |
Cash and cash equivalents at end of period | $ 995 | $ 5,620 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements Of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Apr. 30, 2024 | Apr. 30, 2024 | |
Statement of Cash Flows [Abstract] | ||
Offering costs | $ 26 | $ 94 |
BUSINESS AND FUNDING
BUSINESS AND FUNDING | 6 Months Ended |
Apr. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BUSINESS AND FUNDING | 1. BUSINESS AND FUNDING Description of Business As used herein, “we,” “us,” “our,” the “Company” or “Anixa” means Anixa Biosciences, Inc. and its consolidated subsidiaries unless otherwise indicated. Anixa Biosciences, Inc. is a biotechnology company developing vaccines and therapies that are focused on critical unmet needs in oncology. Our vaccine programs include (i) the development of a preventative vaccine against triple negative breast cancer (“TNBC”), the most lethal form of breast cancer, as well other forms of breast cancer and (ii) the development of a preventative vaccine against ovarian cancer. We have also recently launched a discovery program utilizing the same mechanism as our breast and ovarian cancer vaccines, to develop additional cancer vaccines to address many intractable cancers, including high incidence malignancies in lung, colon and prostate. Our therapeutics programs include (i) the development of a chimeric endocrine receptor T cell therapy, a novel form of chimeric antigen receptor T cell (“CAR-T”) technology, initially focused on treating ovarian cancer, which is being developed at our subsidiary, Certainty Therapeutics, Inc. (“Certainty”), and (ii) until March 2023, the development of anti-viral drug candidates for the treatment of Covid-19. We hold an exclusive worldwide, royalty-bearing license to use certain intellectual property owned or controlled by The Cleveland Clinic Foundation (“Cleveland Clinic”) relating to certain breast cancer vaccine technology developed at Cleveland Clinic. The license agreement requires us to make certain cash payments to Cleveland Clinic upon achievement of specific development milestones. Utilizing this technology, we are working in collaboration with Cleveland Clinic to develop a method to vaccinate women against contracting breast cancer, focused initially on TNBC. The focus of this vaccine is a specific protein, α-lactalbumin, that is only expressed during lactation in a healthy woman’s mammary tissue. This protein disappears when the woman is no longer lactating, but reappears in many forms of breast cancer, especially TNBC. Studies have shown that vaccinating against this protein prevents breast cancer in mice. In October 2021, following the U.S. Food and Drug Administration’s (“FDA”) authorization to proceed, we commenced dosing patients in a Phase 1 clinical trial of our breast cancer vaccine. This study, which is being funded by a U.S. Department of Defense grant to Cleveland Clinic, is a multiple-ascending dose Phase 1 trial to determine the maximum tolerated dose (“MTD”) of the vaccine in patients with early-stage, triple-negative breast cancer as well as monitor immune response. The study is being conducted at Cleveland Clinic. The first segment of the study, Phase 1a, will consist of approximately 24 patients who have completed treatment for early-stage, triple-negative breast cancer within the past three years and are currently tumor-free but at high risk for recurrence. Studies show that 42% of TNBC patients will have a recurrence of their cancer, with most of the recurrences occurring in the first two to three years after standard of care treatment. During the course of the Phase 1a study, participants will receive three vaccinations, each two weeks apart, and will be closely monitored for side effects and immune response. In January 2023, the number of participants in each dose cohort was expanded, and as of August 2023, we had completed vaccinating all patients in these expanded cohorts. In December 2023, we presented the immunological data collected to date at the San Antonio Breast Cancer Symposium. The data presented show that in the vaccinated women who had been tested to date, various levels of antigen-specific T cell responses were observed at all dose levels. We have begun vaccinating participants in up to three additional dose cohorts at dose levels higher than the currently determined MTD and lower than the highest dose where we observed dose limiting side effects. Further, in November 2023, we commenced vaccination of participants in the second segment of the trial, Phase 1b, that includes participants who have never had cancer, but carry certain mutations in genes such as BRCA1, BRCA2 or PALB2, that indicate a greater risk of developing TNBC in the future, and have elected to have a prophylactic mastectomy. Finally, in January 2024, we commenced vaccination of participants in the third segment of the trial, Phase 1c, that includes post-operative TNBC patients that have residual disease following treatment and are currently undergoing treatment with pembrolizumab (Keytruda®). We hold an exclusive worldwide, royalty-bearing license to use certain intellectual property owned or controlled by Cleveland Clinic relating to certain ovarian cancer vaccine technology. The license agreement requires us to make certain cash payments to Cleveland Clinic upon achievement of specific development milestones. This technology pertains to among other things, the use of vaccines for the treatment or prevention of ovarian cancers which express the anti-Mullerian hormone receptor 2 protein containing an extracellular domain (“AMHR2-ED”). In healthy tissue, this protein regulates growth and development of egg-containing follicles in the ovary. While expression of AMHR2-ED naturally and markedly declines during menopause, this protein is expressed at high levels in the ovaries of postmenopausal women with ovarian cancer. Researchers at Cleveland Clinic believe that a vaccine targeting AMHR2-ED could prevent the occurrence of ovarian cancer. In May 2021, Cleveland Clinic was granted acceptance for our ovarian cancer vaccine technology into the National Cancer Institute’s (“NCI”) PREVENT program. The NCI is a part of the National Institutes of Health (“NIH”). The PREVENT program is a peer-reviewed agent development program designed to support pre-clinical development of innovative interventions and biomarkers for cancer prevention and interception towards clinical trials. The scientific and financial resources of the PREVENT program are being used for our ovarian cancer vaccine technology to perform virtually all pre-clinical research and development, manufacturing and Investigational New Drug (“IND”) application enabling studies. This work is being performed at NCI facilities, by NCI scientific staff and with NCI financial resources and will require no material financial expenditures by the Company, nor the payment of any future consideration by the Company to NCI. In May 2024, based on the positive clinical results to date in the development of our breast cancer vaccine, we entered into a Joint Development and Option Agreement with Cleveland Clinic to collaborate in efforts to develop additional vaccines for the prevention or treatment of cancers. Working with Cleveland Clinic researchers, we will focus on the same novel scientific mechanism as in our breast and ovarian cancer vaccines, and work to discover additional retired proteins that may be associated with other forms of cancer, specifically high incidence malignancies in the lung, colon and prostate. Our subsidiary, Certainty, is developing immuno-therapy drugs against cancer. Certainty holds an exclusive worldwide, royalty-bearing license to use certain intellectual property owned or controlled by The Wistar Institute (“Wistar”), the nation’s first independent biomedical research institute and a leading NCI designated cancer research center, relating to Wistar’s chimeric endocrine receptor targeted therapy technology. We have initially focused on the development of a treatment for ovarian cancer, but we also may pursue applications of the technology for the development of treatments for additional solid tumors. The license agreement requires Certainty to make certain cash and equity payments to Wistar upon achievement of specific development milestones. With respect to Certainty’s equity obligations to Wistar, Certainty issued to Wistar shares of its common stock equal to five percent ( 5 4.5 Certainty, in collaboration with the H. Lee Moffitt Cancer Center and Research Institute, Inc. (“Moffitt”), has begun human clinical testing of the CAR-T technology licensed by Certainty from Wistar aimed initially at treating ovarian cancer. After receiving authorization from the FDA, we commenced enrollment of patients in a Phase 1 clinical trial and treated the first patient in August 2022. Further, in May 2023 and August 2023, we treated the second and third patients in the trial, respectively, at the same dose level as the first patient, and the treatment was well-tolerated by the patients. In February 2024 and May 2024, we treated the first two patients, respectively, in the second dose cohort, where the patients were administered a three-times higher dose of cells than the patients in the first cohort. The treatment appears to have been well-tolerated by the patients. This study is a dose-escalation trial with two arms based on route of delivery—intraperitoneal or intravenous—to determine the maximum tolerated dose in patients with recurrent epithelial ovarian cancer and to assess persistence, expansion and efficacy of the modified T cells. The study is being conducted at Moffitt and will consist of 24 to 48 patients who have received at least two prior lines of chemotherapy. The study is estimated to be completed in two to four years depending on multiple factors including when maximum tolerated dose is reached, the rate of patient enrollment, and how long we maintain the two different delivery methods. Over the next several quarters, we expect the development of our vaccines and therapeutics to be the primary focus of the Company. As part of our legacy operations, the Company remains engaged in limited patent licensing activities of its various patent portfolios. We do not expect these activities to be a significant part of the Company’s ongoing operations nor do we expect these activities to require material financial resources or attention of senior management. Over the past several years, our revenue was derived from technology licensing and the sale of patented technologies, including revenue from the settlement of litigation. We have not generated any revenue to date from our vaccine or therapeutics programs. In addition, while we pursue our vaccine and therapeutics programs, we may also make investments in and form new companies to develop additional emerging technologies. We do not expect to begin generating revenue with respect to any of our current vaccine or therapy programs in the near term. We hope to achieve a profitable outcome by eventually licensing our technologies to large pharmaceutical companies that have the resources and infrastructure in place to manufacture, market and sell our technologies as vaccines or therapeutics. The eventual licensing of any of our technologies may take several years, if it is to occur at all, and may depend on positive results from human clinical trials. Funding and Management’s Plans Based on currently available information as of June 4, 2024, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to fund our activities for at least the next twelve months. We have implemented a business model that conserves funds by collaborating with third parties to develop our technologies. However, our projections of future cash needs and cash flows may differ from actual results. If current cash on hand, cash equivalents, short-term investments and cash that may be generated from our business operations are insufficient to continue to operate our business, or if we elect to invest in or acquire a company or companies or new technology or technologies that are synergistic with or complementary to our technologies, we may be required to obtain more working capital. During the six months ended April 30, 2024, we raised approximately $ 3,029,000 785,290 100 97 |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Apr. 30, 2024 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | 2. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, certain information and disclosures required by generally accepted accounting principles in annual financial statements have been omitted or condensed. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related disclosures included in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023. The accompanying October 31, 2023 condensed consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by US GAAP. The condensed consolidated financial statements include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of April 30, 2024, and results of operations and cash flows for the interim periods represented. The results of operations for the three and six months ended April 30, 2024 are not necessarily indicative of the results to be expected for the year. Noncontrolling Interest Noncontrolling interest represents Wistar’s equity ownership in Certainty and is presented as a component of equity. The following table sets forth the changes in noncontrolling interest for the six months ended April 30, 2024 (in thousands): SCHEDULE OF CHANGES IN NONCONTROLLING INTEREST Balance, October 31, 2023 $ (966 ) Net loss attributable to noncontrolling interest (76 ) Balance, April 30, 2024 $ (1,042 ) Revenue Recognition Our revenue has been derived solely from technology licensing and the sale of patented technologies. Revenue is recognized upon transfer of control of intellectual property rights and satisfaction of other contractual performance obligations to licensees in an amount that reflects the consideration we expect to receive. Our revenue recognition policy requires us to make certain judgments and estimates in connection with the accounting for revenue. Such areas may include determining the existence of a contract and identifying each party’s rights and obligations to transfer goods and services, identifying the performance obligations in the contract, determining the transaction price and allocating the transaction price to separate performance obligations, estimating the timing of satisfaction of performance obligations, determining whether a promise to grant a license is distinct from other promised goods or services and evaluating whether a license transfers to a customer at a point in time or over time. Our revenue arrangements provide for the payment, within 30 days of execution of the agreement, of contractually determined, one-time, paid-up license fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company. These arrangements typically include some combination of the following: (i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation. In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents. Pursuant to the terms of these agreements, we have no further obligations with respect to the granted intellectual property rights, including no obligation to maintain or upgrade the technology, or provide future support or services. Licensees obtained control of the intellectual property rights they have acquired upon execution of the agreement. Accordingly, the performance obligations from these agreements were satisfied and 100 Cost of Revenues Cost of revenues include the costs and expenses incurred in connection with our patent licensing and enforcement activities, including inventor royalties paid to original patent owners, contingent legal fees paid to external counsel, other patent-related legal expenses paid to external counsel and licensing and enforcement related research, consulting and other expenses paid to third-parties. These costs are included under the caption “Operating costs and expenses” in the accompanying condensed consolidated statements of operations. Research and Development Expenses Research and development expenses consist primarily of employee compensation, payments to third parties for research and development activities and other direct costs associated with developing our therapeutics and vaccines. We recognize research and development expenses as incurred. Advance payments for future research and development activities are deferred and expensed as the services are performed. We recognize our preclinical studies and clinical trial expenses based on the services performed pursuant to contracts with research institutions, clinical research organizations (“CROs”), clinical manufacturing organizations (“CMOs”), and other parties that conduct and manage various stages of research and development activities on our behalf. Fees for such services are recognized based on management’s estimates after considering the activities and tasks completed by each service provider in a given period, the time period over which services are expected to be performed, and the level of effort expended in each reporting period. Investment Policy The Company’s investment policy is to acquire U.S. government debt securities with fixed maturities and contractual cash flows that the Company has the positive intent and ability to hold to maturity. These securities are recorded at amortized cost, net of any applicable discount which is amortized to interest income, and are accounted for as held-to-maturity securities. |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 6 Months Ended |
Apr. 30, 2024 | |
Share-Based Payment Arrangement [Abstract] | |
STOCK-BASED COMPENSATION | 3. STOCK-BASED COMPENSATION The Company maintains stock equity incentive plans under which the Company grants incentive stock options, non-qualified stock options, stock appreciation rights, stock awards, performance awards, or stock units to employees, directors and consultants. Stock Option Compensation Expense We account for stock options granted to employees, directors and others using the accounting guidance in ASC 718, Stock Compensation (“ASC 718”). We estimate the fair value of service-based stock options on the date of grant, using the Black-Scholes pricing model, and recognize compensation expense over the requisite service period of the grant. We recorded stock-based compensation expense related to service-based stock options granted to employees and directors of approximately $ 1,238,000 1,155,000 2,346,000 2,112,000 The compensation cost for service-based stock options granted to consultants is measured at the grant date, based on the fair value of the award using the Black-Scholes pricing model, and is expensed on a straight-line basis over the requisite service period (the vesting period of the stock option) which is one to three years. We recorded stock-based consulting expense related to stock options granted to consultants of approximately $ 22,000 47,000 78,000 128,000 Stock Option Plans During the three and six months ended April 30, 2024, we had two stock option plans: the Anixa Biosciences, Inc. 2010 Share Incentive Plan (the “2010 Share Plan”) and the Anixa Biosciences, Inc. 2018 Share Incentive Plan (the “2018 Share Plan”), which were adopted by our Board of Directors on July 14, 2010 and January 25, 2018, respectively. The 2018 Share Plan was approved by our shareholders on March 29, 2018. Stock Option Activity During the three months ended April 30, 2024 and 2023, we granted options to purchase 15,000 0 1,350,000 1,505,000 3.17 4.39 19,999 27,818 57,000 75,000 43,999 124,000 1,111 808 29,079 78,000 2010 Share Plan The 2010 Share Plan provided for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to employees, directors and consultants. In accordance with the provisions of the 2010 Share Plan, the plan terminated with respect to the ability to grant future awards on July 14, 2020. Information regarding the 2010 Share Plan for the six months ended April 30, 2024 is as follows: SCHEDULE OF OPTION ACTIVITY Shares Weighted Average Exercise Price Per Share Aggregate Intrinsic Value (in thousands) Options outstanding at October 31, 2023 1,189,000 $ 2.94 Granted 1,350,000 $ 4.38 Exercised (13,000 ) $ 2.92 Options outstanding and exercisable at April 30, 2024 1,176,000 $ 2.94 $ 643 The following table summarizes information about stock options outstanding and exercisable under the 2010 Share Plan as of April 30, 2024: SCHEDULE OF OUTSTANDING AND EXERCISABLE Range of Exercise Prices Number Outstanding and Exercisable Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 0.67 2.27 366,000 3.1 $ 1.27 $ 2.58 3.13 301,000 1.7 $ 2.91 $ 3.46 5.30 509,000 4.0 $ 4.17 2018 Share Plan The 2018 Share Plan provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to employees, directors and consultants. As of April 30, 2024, the 2018 Share Plan had 938,907 SCHEDULE OF OPTION ACTIVITY Shares Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Options outstanding at October 31, 2023 10,241,000 $ 3.67 Granted 1,350,000 $ 4.38 Exercised (30,999 ) $ 2.78 Expirations (313,907 ) $ 4.21 Options outstanding at April 30, 2024 11,246,094 $ 3.74 $ 582 Options exercisable at April 30, 2024 7,363,587 $ 3.57 $ 505 The following table summarizes information about stock options outstanding and exercisable under the 2018 Share Plan as of April 30, 2024: SCHEDULE OF OUTSTANDING AND EXERCISABLE Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 2.09 3.87 5,383,879 6.0 $ 3.24 4,953,309 5.8 $ 3.27 $ 3.96 5.30 5,862,215 7.9 $ 4.20 2,410,278 7.4 $ 4.21 Employee Stock Purchase Plan The Company maintains the Anixa Biosciences, Inc. Employee Stock Purchase Plan (the “ESPP”) which permits eligible employees to purchase shares at not less than 85 2,616 1,903 7,000 6,000 Warrants As of April 30, 2024, we had warrants outstanding to purchase 300,000 6.56 March 22, 2026 Information regarding the Company’s warrants for the six months ended April 30, 2024 is as follows: SCHEDULE OF WARRANTS ACTIVITY Shares Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Warrants outstanding at October 31, 2023 300,000 $ 6.56 Warrants outstanding and exercisable at April 30, 2024 300,000 $ 6.56 $ 0 The following table summarizes information about the Company’s outstanding and exercisable warrants as of April 30, 2024: SCHEDULE OF OUTSTANDING AND EXERCISABLE Range of Exercise Prices Number Outstanding and Exercisable Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 6.56 300,000 1.9 $ 6.56 |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 6 Months Ended |
Apr. 30, 2024 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | 4. FAIR VALUE MEASUREMENTS US GAAP defines fair value and establishes a framework for measuring fair value. We have categorized our financial assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities recorded in the accompanying condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: Level 1 – Financial instruments whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which we have the ability to access at the measurement date. Level 2 – Financial instruments whose values are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 3 – Financial instruments whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the instrument. The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of April 30, 2024 (in thousands): SCHEDULE OF FAIR VALUE MEASUREMENTS Level 1 Level 2 Level 3 Total Money market funds: Cash equivalents $ 853 $ - $ - $ 853 U.S. treasury bills Short-term investments - 22,244 - 22,244 Total financial assets $ 853 $ 22,244 $ - $ 23,097 The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2023 (in thousands): Level 1 Level 2 Level 3 Total Money market funds: Cash equivalents $ 778 $ - $ - $ 778 Money market funds Cash equivalents $ 778 $ - $ - $ 778 Certificates of deposit: Short term investments - 720 - 720 Certificates of deposit Short term investments - 720 - 720 U.S. treasury bills: Short-term investments - 22,209 - 22,209 U.S. treasury bills Short-term investments - 22,209 - 22,209 Total financial assets $ 778 $ 22,929 $ - $ 23,707 Our non-financial assets that are measured on a non-recurring basis are property and equipment and other assets which are measured using fair value techniques whenever events or changes in circumstances indicate a condition of impairment exists. The estimated fair value of prepaid expenses and other current assets, accounts payable and accrued expenses approximates their individual carrying amounts due to the short-term nature of these measurements. Cash equivalents are stated at carrying value which approximates fair value. |
ACCRUED EXPENSES
ACCRUED EXPENSES | 6 Months Ended |
Apr. 30, 2024 | |
Payables and Accruals [Abstract] | |
ACCRUED EXPENSES | 5. ACCRUED EXPENSES Accrued expenses consist of the following as of: SCHEDULE OF ACCRUED EXPENSES April 30, October 31, 2024 2023 (in thousands) Payroll and related expenses $ 718 $ 1,114 Accrued royalty and contingent legal fees 626 626 Accrued other 66 30 Accrued expenses $ 1,410 $ 1,770 |
NET LOSS PER SHARE OF COMMON ST
NET LOSS PER SHARE OF COMMON STOCK | 6 Months Ended |
Apr. 30, 2024 | |
Net loss per common share attributable to common shareholders: | |
NET LOSS PER SHARE OF COMMON STOCK | 6. NET LOSS PER SHARE OF COMMON STOCK Basic net loss per common share (“Basic EPS”) is computed by dividing net loss by the weighted average number of common shares outstanding. Diluted net loss per common share (“Diluted EPS”) is computed by dividing net loss by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. Diluted EPS for all periods presented is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. For this reason, excluded from the calculation of Diluted EPS for the six months ended April 30, 2024 and 2023, were stock options to purchase 12,422,094 11,643,682 300,000 300,000 |
EFFECT OF RECENTLY ADOPTED AND
EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS | 6 Months Ended |
Apr. 30, 2024 | |
Effect Of Recently Adopted And Issued Pronouncements | |
EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS | 7. EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS In October 2021, the FASB issued Accounting Standards Update 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, to require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. At the acquisition date, an acquirer should account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. The amendments in this update should be applied prospectively and are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The adoption of this standard did not have a material impact on our consolidated financial statements and related disclosures. In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to provide more disaggregated expense information about a public entity’s reportable segments. The amendments in this update should be applied retrospectively and are effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. We do not expect the adoption of this standard to have a material impact on our consolidated financial statements and related disclosures. In December 2023, the FASB issued Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to require disaggregated information about a reporting entity’s effect tax rate reconciliation as well as information on income taxes paid. The amendments in this update should be applied prospectively, with an option to apply them retrospectively, and are effective for fiscal years beginning after December 15, 2024 for public entities. We do not expect the adoption of this standard to have a material impact on our consolidated financial statements and related disclosures. |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Apr. 30, 2024 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 8. INCOME TAXES We recognize deferred tax assets and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. We have provided a full valuation allowance against our deferred tax asset due to our historical pre-tax losses and the uncertainty regarding the realizability of these deferred tax assets. We have substantial net operating loss carryforwards for Federal and California income tax returns. These net operating loss carryforwards could be subject to limitations under Internal Revenue Code section 382, the effects of which have not been determined by the Company. We have no |
LEASES
LEASES | 6 Months Ended |
Apr. 30, 2024 | |
Leases | |
LEASES | 9. LEASES We lease approximately 2,000 September 30, 2024 an option to extend the lease an additional two years 5,000 3 260,000 10 17,000 17,000 33,000 33,000 For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments. The remaining 29 As of April 30, 2024, the annual minimum future lease payments of our operating lease liabilities were as follows (in thousands): SCHEDULE OF MINIMUM LEASE PAYMENTS For years Ended October 31, Operating 2024 $ 34 2025 70 2026 65 Total future minimum lease payments, undiscounted 169 Less: Imputed interest (20 ) Present value of future minimum lease payments $ 149 |
COMMITMENTS AND CONTINGENCES
COMMITMENTS AND CONTINGENCES | 6 Months Ended |
Apr. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCES | 10. COMMITMENTS AND CONTINGENCES Litigation Matters Other than lawsuits related to the enforcement of our patent rights, we are not a party to any material pending legal proceedings, nor are we aware of any pending litigation or legal proceeding against us that would have a material adverse effect upon our results of operations or financial condition. Research & Development Agreements We have entered into certain research and development agreements with various third-party vendors related to the manufacturing and stability testing of the materials necessary for the development of our breast cancer vaccine and our CAR-T therapeutic. As of April 30, 2024, future payments the Company may make under these agreements, dependent upon, among other things, development of analytical methods, formulation feasibility studies, stability testing, and results of manufacturing processes, may be approximately $ 3.7 five |
SEGMENT INFORMATION
SEGMENT INFORMATION | 6 Months Ended |
Apr. 30, 2024 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | 11. SEGMENT INFORMATION We follow the accounting guidance of ASC 280 “Segment Reporting” (“ASC 280”). Reportable operating segments are determined based on the management approach. The management approach, as defined by ASC 280, is based on the way that the chief operating decision-maker organizes the segments within an enterprise for making operating decisions and assessing performance. While our results of operations are primarily reviewed on a consolidated basis, the chief operating decision-maker manages the enterprise in three reportable segments, each with different operating and potential revenue generating characteristics: (i) CAR-T Therapeutics, (ii) Cancer Vaccines and (iii) Other. The following represents selected financial information for our segments for the three and six months ended April 30, 2024 and 2023 and as of April 30, 2024 and October 31, 2023, in thousands: SCHEDULE OF SEGMENT INFORMATION 2024 2023 2024 2023 For the Three Months Ended For the Six Months Ended 2024 2023 2024 2023 Net income/(loss): CAR-T Therapeutics $ (1,444 ) $ (997 ) $ (2,970 ) $ (1,908 ) Cancer Vaccines (1,713 ) (913 ) (3,469 ) (1,871 ) Other (23 ) (397 ) (31 ) (882 ) Total $ (3,180 ) $ (2,307 ) $ (6,470 ) $ (4,661 ) Net loss $ (3,180 ) $ (2,307 ) $ (6,470 ) $ (4,661 ) Total operating costs and expenses $ 3,467 $ 2,770 $ 7,076 $ 5,326 Less non-cash stock-based compensation (1,260 ) (1,227 ) (2,520 ) (2,290 ) Operating costs and expenses excluding non-cash stock-based compensation $ 2,207 $ 1,543 $ 4,556 $ 3,036 Operating costs and expenses excluding non-cash stock-based compensation: CAR-T Therapeutics $ 1,026 $ 620 $ 2,154 $ 1,218 Cancer Vaccines 1,160 523 2,373 1,111 Other 21 400 29 707 Total $ 2,207 $ 1,543 $ 4,556 $ 3,036 Operating costs and expenses excluding non-cash share based compensation $ 2,207 $ 1,543 $ 4,556 $ 3,036 April 30, October 31, Total assets: CAR-T Therapeutics $ 11,314 $ 7,523 Cancer Vaccines 12,778 17,215 Other 263 784 Total $ 24,355 $ 25,522 Total assets $ 24,355 $ 25,522 Operating costs and expenses excluding non-cash stock-based compensation is the measurement the chief operating decision-maker uses in managing the enterprise. The Company’s consolidated revenue of $ 210,000 161,000 |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 6 Months Ended |
Apr. 30, 2024 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | 12. SUBSEQUENT EVENT On May 3, 2024, we entered into a Joint Development and Option Agreement (the “Agreement”) with Cleveland Clinic. Pursuant to the Agreement, the parties agreed on the terms and conditions under which the parties will collaborate in efforts to develop vaccines for the prevention or treatment of cancers using the same mechanism as our breast and ovarian cancer vaccines, focusing on high incidence malignancies in lung, colon and prostate. As consideration, the Company paid Cleveland Clinic a non-refundable, option fee in May 2024. The Company will also provide development funding in three tranches, the first payment was paid in May 2024, the second payment will be paid on or before January 31, 2025 and the third payment will be paid on or before January 31, 2026. None of these payments are expected to have a material effect on the Company’s results of operations or financial condition. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Apr. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, certain information and disclosures required by generally accepted accounting principles in annual financial statements have been omitted or condensed. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related disclosures included in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023. The accompanying October 31, 2023 condensed consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by US GAAP. The condensed consolidated financial statements include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of April 30, 2024, and results of operations and cash flows for the interim periods represented. The results of operations for the three and six months ended April 30, 2024 are not necessarily indicative of the results to be expected for the year. |
Noncontrolling Interest | Noncontrolling Interest Noncontrolling interest represents Wistar’s equity ownership in Certainty and is presented as a component of equity. The following table sets forth the changes in noncontrolling interest for the six months ended April 30, 2024 (in thousands): SCHEDULE OF CHANGES IN NONCONTROLLING INTEREST Balance, October 31, 2023 $ (966 ) Net loss attributable to noncontrolling interest (76 ) Balance, April 30, 2024 $ (1,042 ) |
Revenue Recognition | Revenue Recognition Our revenue has been derived solely from technology licensing and the sale of patented technologies. Revenue is recognized upon transfer of control of intellectual property rights and satisfaction of other contractual performance obligations to licensees in an amount that reflects the consideration we expect to receive. Our revenue recognition policy requires us to make certain judgments and estimates in connection with the accounting for revenue. Such areas may include determining the existence of a contract and identifying each party’s rights and obligations to transfer goods and services, identifying the performance obligations in the contract, determining the transaction price and allocating the transaction price to separate performance obligations, estimating the timing of satisfaction of performance obligations, determining whether a promise to grant a license is distinct from other promised goods or services and evaluating whether a license transfers to a customer at a point in time or over time. Our revenue arrangements provide for the payment, within 30 days of execution of the agreement, of contractually determined, one-time, paid-up license fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company. These arrangements typically include some combination of the following: (i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation. In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents. Pursuant to the terms of these agreements, we have no further obligations with respect to the granted intellectual property rights, including no obligation to maintain or upgrade the technology, or provide future support or services. Licensees obtained control of the intellectual property rights they have acquired upon execution of the agreement. Accordingly, the performance obligations from these agreements were satisfied and 100 |
Cost of Revenues | Cost of Revenues Cost of revenues include the costs and expenses incurred in connection with our patent licensing and enforcement activities, including inventor royalties paid to original patent owners, contingent legal fees paid to external counsel, other patent-related legal expenses paid to external counsel and licensing and enforcement related research, consulting and other expenses paid to third-parties. These costs are included under the caption “Operating costs and expenses” in the accompanying condensed consolidated statements of operations. |
Research and Development Expenses | Research and Development Expenses Research and development expenses consist primarily of employee compensation, payments to third parties for research and development activities and other direct costs associated with developing our therapeutics and vaccines. We recognize research and development expenses as incurred. Advance payments for future research and development activities are deferred and expensed as the services are performed. We recognize our preclinical studies and clinical trial expenses based on the services performed pursuant to contracts with research institutions, clinical research organizations (“CROs”), clinical manufacturing organizations (“CMOs”), and other parties that conduct and manage various stages of research and development activities on our behalf. Fees for such services are recognized based on management’s estimates after considering the activities and tasks completed by each service provider in a given period, the time period over which services are expected to be performed, and the level of effort expended in each reporting period. |
Investment Policy | Investment Policy The Company’s investment policy is to acquire U.S. government debt securities with fixed maturities and contractual cash flows that the Company has the positive intent and ability to hold to maturity. These securities are recorded at amortized cost, net of any applicable discount which is amortized to interest income, and are accounted for as held-to-maturity securities. |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Apr. 30, 2024 | |
Accounting Policies [Abstract] | |
SCHEDULE OF CHANGES IN NONCONTROLLING INTEREST | Noncontrolling interest represents Wistar’s equity ownership in Certainty and is presented as a component of equity. The following table sets forth the changes in noncontrolling interest for the six months ended April 30, 2024 (in thousands): SCHEDULE OF CHANGES IN NONCONTROLLING INTEREST Balance, October 31, 2023 $ (966 ) Net loss attributable to noncontrolling interest (76 ) Balance, April 30, 2024 $ (1,042 ) |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 6 Months Ended |
Apr. 30, 2024 | |
Warrant [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
SCHEDULE OF OUTSTANDING AND EXERCISABLE | The following table summarizes information about the Company’s outstanding and exercisable warrants as of April 30, 2024: SCHEDULE OF OUTSTANDING AND EXERCISABLE Range of Exercise Prices Number Outstanding and Exercisable Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 6.56 300,000 1.9 $ 6.56 |
SCHEDULE OF WARRANTS ACTIVITY | Information regarding the Company’s warrants for the six months ended April 30, 2024 is as follows: SCHEDULE OF WARRANTS ACTIVITY Shares Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Warrants outstanding at October 31, 2023 300,000 $ 6.56 Warrants outstanding and exercisable at April 30, 2024 300,000 $ 6.56 $ 0 |
2010 Plan [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
SCHEDULE OF OPTION ACTIVITY | SCHEDULE OF OPTION ACTIVITY Shares Weighted Average Exercise Price Per Share Aggregate Intrinsic Value (in thousands) Options outstanding at October 31, 2023 1,189,000 $ 2.94 Granted 1,350,000 $ 4.38 Exercised (13,000 ) $ 2.92 Options outstanding and exercisable at April 30, 2024 1,176,000 $ 2.94 $ 643 |
SCHEDULE OF OUTSTANDING AND EXERCISABLE | The following table summarizes information about stock options outstanding and exercisable under the 2010 Share Plan as of April 30, 2024: SCHEDULE OF OUTSTANDING AND EXERCISABLE Range of Exercise Prices Number Outstanding and Exercisable Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 0.67 2.27 366,000 3.1 $ 1.27 $ 2.58 3.13 301,000 1.7 $ 2.91 $ 3.46 5.30 509,000 4.0 $ 4.17 |
2018 Share Plan [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
SCHEDULE OF OPTION ACTIVITY | SCHEDULE OF OPTION ACTIVITY Shares Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Options outstanding at October 31, 2023 10,241,000 $ 3.67 Granted 1,350,000 $ 4.38 Exercised (30,999 ) $ 2.78 Expirations (313,907 ) $ 4.21 Options outstanding at April 30, 2024 11,246,094 $ 3.74 $ 582 Options exercisable at April 30, 2024 7,363,587 $ 3.57 $ 505 |
SCHEDULE OF OUTSTANDING AND EXERCISABLE | The following table summarizes information about stock options outstanding and exercisable under the 2018 Share Plan as of April 30, 2024: SCHEDULE OF OUTSTANDING AND EXERCISABLE Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 2.09 3.87 5,383,879 6.0 $ 3.24 4,953,309 5.8 $ 3.27 $ 3.96 5.30 5,862,215 7.9 $ 4.20 2,410,278 7.4 $ 4.21 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended |
Apr. 30, 2024 | |
Fair Value Disclosures [Abstract] | |
SCHEDULE OF FAIR VALUE MEASUREMENTS | The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of April 30, 2024 (in thousands): SCHEDULE OF FAIR VALUE MEASUREMENTS Level 1 Level 2 Level 3 Total Money market funds: Cash equivalents $ 853 $ - $ - $ 853 U.S. treasury bills Short-term investments - 22,244 - 22,244 Total financial assets $ 853 $ 22,244 $ - $ 23,097 The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2023 (in thousands): Level 1 Level 2 Level 3 Total Money market funds: Cash equivalents $ 778 $ - $ - $ 778 Money market funds Cash equivalents $ 778 $ - $ - $ 778 Certificates of deposit: Short term investments - 720 - 720 Certificates of deposit Short term investments - 720 - 720 U.S. treasury bills: Short-term investments - 22,209 - 22,209 U.S. treasury bills Short-term investments - 22,209 - 22,209 Total financial assets $ 778 $ 22,929 $ - $ 23,707 |
ACCRUED EXPENSES (Tables)
ACCRUED EXPENSES (Tables) | 6 Months Ended |
Apr. 30, 2024 | |
Payables and Accruals [Abstract] | |
SCHEDULE OF ACCRUED EXPENSES | Accrued expenses consist of the following as of: SCHEDULE OF ACCRUED EXPENSES April 30, October 31, 2024 2023 (in thousands) Payroll and related expenses $ 718 $ 1,114 Accrued royalty and contingent legal fees 626 626 Accrued other 66 30 Accrued expenses $ 1,410 $ 1,770 |
LEASES (Tables)
LEASES (Tables) | 6 Months Ended |
Apr. 30, 2024 | |
Leases | |
SCHEDULE OF MINIMUM LEASE PAYMENTS | As of April 30, 2024, the annual minimum future lease payments of our operating lease liabilities were as follows (in thousands): SCHEDULE OF MINIMUM LEASE PAYMENTS For years Ended October 31, Operating 2024 $ 34 2025 70 2026 65 Total future minimum lease payments, undiscounted 169 Less: Imputed interest (20 ) Present value of future minimum lease payments $ 149 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 6 Months Ended |
Apr. 30, 2024 | |
Segment Reporting [Abstract] | |
SCHEDULE OF SEGMENT INFORMATION | SCHEDULE OF SEGMENT INFORMATION 2024 2023 2024 2023 For the Three Months Ended For the Six Months Ended 2024 2023 2024 2023 Net income/(loss): CAR-T Therapeutics $ (1,444 ) $ (997 ) $ (2,970 ) $ (1,908 ) Cancer Vaccines (1,713 ) (913 ) (3,469 ) (1,871 ) Other (23 ) (397 ) (31 ) (882 ) Total $ (3,180 ) $ (2,307 ) $ (6,470 ) $ (4,661 ) Net loss $ (3,180 ) $ (2,307 ) $ (6,470 ) $ (4,661 ) Total operating costs and expenses $ 3,467 $ 2,770 $ 7,076 $ 5,326 Less non-cash stock-based compensation (1,260 ) (1,227 ) (2,520 ) (2,290 ) Operating costs and expenses excluding non-cash stock-based compensation $ 2,207 $ 1,543 $ 4,556 $ 3,036 Operating costs and expenses excluding non-cash stock-based compensation: CAR-T Therapeutics $ 1,026 $ 620 $ 2,154 $ 1,218 Cancer Vaccines 1,160 523 2,373 1,111 Other 21 400 29 707 Total $ 2,207 $ 1,543 $ 4,556 $ 3,036 Operating costs and expenses excluding non-cash share based compensation $ 2,207 $ 1,543 $ 4,556 $ 3,036 April 30, October 31, Total assets: CAR-T Therapeutics $ 11,314 $ 7,523 Cancer Vaccines 12,778 17,215 Other 263 784 Total $ 24,355 $ 25,522 Total assets $ 24,355 $ 25,522 |
BUSINESS AND FUNDING (Details N
BUSINESS AND FUNDING (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2024 | Apr. 30, 2023 | |
Capital raised by issuance of shares | $ 833,000 | $ 3,029,000 | |
Proceeds from sale of common stock | 3,029,000 | ||
Maximum [Member] | |||
Proceeds from sale of common stock | 100,000,000 | ||
Common Stock [Member] | |||
Capital raised by issuance of shares | $ 2,000 | $ 8,000 | |
Issuance of shares | 229,470 | 785,290 | |
Additional proceeds from sale of stock | $ 97,000,000 | ||
The Wistar Institute [Member] | |||
Percenatge of shares issued for common stock | 5% | 5% | |
Equity stake percentage | 4.50% | 4.50% |
SCHEDULE OF CHANGES IN NONCONTR
SCHEDULE OF CHANGES IN NONCONTROLLING INTEREST (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2024 | Apr. 30, 2023 | Apr. 30, 2024 | Apr. 30, 2023 | |
Accounting Policies [Abstract] | ||||
Beginning balance | $ (966) | |||
Net loss attributable to noncontrolling interest | $ (41) | $ (19) | (76) | $ (51) |
Ending balance | $ (1,042) | $ (1,042) |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 6 Months Ended |
Apr. 30, 2024 | |
Accounting Policies [Abstract] | |
Revenue recognition percentage | 100% |
SCHEDULE OF OPTION ACTIVITY (De
SCHEDULE OF OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended |
Apr. 30, 2024 | |
2010 Plan [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Shares, options outstanding, beginning balance | 1,189,000 |
Weighted Average Exercise Price Per Share, Outstanding Beginning balance | $ 2.94 |
Shares, options, exercised | (13,000) |
Weighted average exercise price per share, exercised | $ 2.92 |
Shares, options outstanding, ending balance | 1,176,000 |
Weighted Average Exercise Price Per Share, Outstanding ending balance | $ 2.94 |
Aggregate intrinsic value, outstanding and exercisable | $ 643 |
2018 Share Plan [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Shares, options outstanding, beginning balance | 10,241,000 |
Weighted Average Exercise Price Per Share, Outstanding Beginning balance | $ 3.67 |
Shares, options, granted | 1,350,000 |
Weighted Average Exercise Price Per Share, Granted | $ 4.38 |
Shares, options, exercised | (30,999) |
Weighted average exercise price per share, exercised | $ 2.78 |
Shares, options outstanding, ending balance | 11,246,094 |
Weighted Average Exercise Price Per Share, Outstanding ending balance | $ 3.74 |
Shares, options, forfeited/expired | (313,907) |
Weighted average exercise price per share, forfeited/expired | $ 4.21 |
Aggregate Intrinsic Value, Outstanding Ending balance | $ 582 |
Shares, Options outstanding, Exercisable | 7,363,587 |
Weighted Average Exercise Price Per Share, Exercisable | $ 3.57 |
Aggregate Intrinsic Value, Exercisable | $ 505 |
SCHEDULE OF OUTSTANDING AND EXE
SCHEDULE OF OUTSTANDING AND EXERCISABLE (Details) - $ / shares | 6 Months Ended | |
Apr. 30, 2024 | Oct. 31, 2023 | |
Warrant [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number outstanding and exercisable | 300,000 | |
Weighted average remaining contractual life | 1 year 10 months 24 days | |
Weighted average exercise price | $ 6.56 | |
Range of exercise prices | $ 6.56 | |
2010 Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number outstanding and exercisable | 1,176,000 | 1,189,000 |
Weighted average exercise price | $ 2.94 | $ 2.94 |
2010 Plan [Member] | Range One [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Range of Exercise Prices | 0.67 | |
Range of Exercise Prices | $ 2.27 | |
Number outstanding and exercisable | 366,000 | |
Weighted average remaining contractual life | 3 years 1 month 6 days | |
Weighted average exercise price | $ 1.27 | |
2010 Plan [Member] | Range Two [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Range of Exercise Prices | 2.58 | |
Range of Exercise Prices | $ 3.13 | |
Number outstanding and exercisable | 301,000 | |
Weighted average remaining contractual life | 1 year 8 months 12 days | |
Weighted average exercise price | $ 2.91 | |
2010 Plan [Member] | Range Three [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Range of Exercise Prices | 3.46 | |
Range of Exercise Prices | $ 5.30 | |
Number outstanding and exercisable | 509,000 | |
Weighted average remaining contractual life | 4 years | |
Weighted average exercise price | $ 4.17 | |
2018 Share Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number outstanding and exercisable | 11,246,094 | 10,241,000 |
Weighted average exercise price | $ 3.74 | $ 3.67 |
Number of Options Outstanding and Exercisable | 7,363,587 | |
Weighted average exercise price, options exercisable | $ 3.57 | |
2018 Share Plan [Member] | Range One [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Range of Exercise Prices | 2.09 | |
Range of Exercise Prices | $ 3.87 | |
Number outstanding and exercisable | 5,383,879 | |
Weighted average remaining contractual life | 6 years | |
Weighted average exercise price | $ 3.24 | |
Number of Options Outstanding and Exercisable | 4,953,309 | |
Weighted average remaining contractual life (in years), options exercisable | 5 years 9 months 18 days | |
Weighted average exercise price, options exercisable | $ 3.27 | |
2018 Share Plan [Member] | Range Two [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Range of Exercise Prices | 3.96 | |
Range of Exercise Prices | $ 5.30 | |
Number outstanding and exercisable | 5,862,215 | |
Weighted average remaining contractual life | 7 years 10 months 24 days | |
Weighted average exercise price | $ 4.20 | |
Number of Options Outstanding and Exercisable | 2,410,278 | |
Weighted average remaining contractual life (in years), options exercisable | 7 years 4 months 24 days | |
Weighted average exercise price, options exercisable | $ 4.21 |
SCHEDULE OF WARRANTS ACTIVITY (
SCHEDULE OF WARRANTS ACTIVITY (Details) - Warrant [Member] $ / shares in Units, $ in Thousands | Apr. 30, 2024 USD ($) $ / shares shares |
Warrants outstanding, ending balance | shares | 300,000 |
Weighted average exercise price per share warrants outstanding, ending balance | $ / shares | $ 6.56 |
Warrants outstanding and exercisable, ending balance | shares | 300,000 |
Weighted average exercise price per share warrants outstanding and exercisable, ending balance | $ / shares | $ 6.56 |
Aggregate intrinsic value, Warrants outstanding and exercisable, ending balance | $ | $ 0 |
STOCK-BASED COMPENSATION (Detai
STOCK-BASED COMPENSATION (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2024 | Apr. 30, 2023 | Apr. 30, 2024 | Apr. 30, 2023 | Oct. 31, 2023 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Stock option exercised | $ 57,000 | $ 75,000 | $ 124,000 | $ 78,000 | |
Common stock issued pursuant to employee stock purchase plan | $ 7,000 | $ 6,000 | $ 7,000 | $ 6,000 | |
Warrant [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Option to purchase common stock | 300,000 | 300,000 | |||
Warrants outstanding | 300,000 | 300,000 | |||
Warrant per share | $ 6.56 | $ 6.56 | |||
Expire date | Mar. 22, 2026 | Mar. 22, 2026 | |||
Stock Option Activity [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Option to purchase common stock | 19,999 | 27,818 | 43,999 | 29,079 | |
Stock option exercised | $ 57,000 | $ 75,000 | $ 124,000 | $ 78,000 | |
Option to purchase common stock | 1,111 | 1,111 | |||
Option to purchase common stock withheld | 808 | ||||
2018 Share Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Shares options, granted | 1,350,000 | ||||
Option to purchase common stock | 11,246,094 | 11,246,094 | 10,241,000 | ||
Shares for grant | 938,907 | 938,907 | |||
Employee Stock Purchase Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Purchase percent | 85% | ||||
Shares purchased | 2,616 | 1,903 | 2,616 | 1,903 | |
Common stock issued pursuant to employee stock purchase plan | $ 7,000 | $ 6,000 | $ 7,000 | $ 6,000 | |
Employees and Directors [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Stock-based compensation | 1,238,000 | 1,155,000 | 2,346,000 | 2,112,000 | |
Consultants [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Options granted | $ 22,000 | $ 47,000 | $ 78,000 | $ 128,000 | |
Employees and Consultants [Member] | 2018 Share Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Shares options, granted | 15,000 | 0 | 1,350,000 | 1,505,000 | |
Employees and Consultants [Member] | 2018 Share Plan [Member] | Minimum [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Share exercise price | $ 3.17 | $ 3.17 | |||
Employees and Consultants [Member] | 2018 Share Plan [Member] | Maximum [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Share exercise price | $ 4.39 | $ 4.39 |
SCHEDULE OF FAIR VALUE MEASUREM
SCHEDULE OF FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Oct. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | $ 23,097 | $ 23,707 |
Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds Cash equivalents | 853 | 778 |
Certificates of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
U.S. treasury bills Short-term investments | 22,244 | 720 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
U.S. treasury bills Short-term investments | 22,209 | |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 853 | 778 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds Cash equivalents | 853 | 778 |
Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
U.S. treasury bills Short-term investments | ||
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
U.S. treasury bills Short-term investments | ||
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 22,244 | 22,929 |
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds Cash equivalents | ||
Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
U.S. treasury bills Short-term investments | 22,244 | 720 |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
U.S. treasury bills Short-term investments | 22,209 | |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | ||
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds Cash equivalents | ||
Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
U.S. treasury bills Short-term investments | ||
Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
U.S. treasury bills Short-term investments |
SCHEDULE OF ACCRUED EXPENSES (D
SCHEDULE OF ACCRUED EXPENSES (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Oct. 31, 2023 |
Payables and Accruals [Abstract] | ||
Payroll and related expenses | $ 718 | $ 1,114 |
Accrued royalty and contingent legal fees | 626 | 626 |
Accrued other | 66 | 30 |
Accrued expenses | $ 1,410 | $ 1,770 |
NET LOSS PER SHARE OF COMMON _2
NET LOSS PER SHARE OF COMMON STOCK (Details Narrative) - shares | 6 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive shares | 12,422,094 | 11,643,682 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive shares | 300,000 | 300,000 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | Apr. 30, 2024 | Oct. 31, 2023 |
Income Tax Disclosure [Abstract] | ||
Unrecognized income tax benefits, penalties | $ 0 | $ 0 |
SCHEDULE OF MINIMUM LEASE PAYME
SCHEDULE OF MINIMUM LEASE PAYMENTS (Details) $ in Thousands | Apr. 30, 2024 USD ($) |
Leases | |
2024 | $ 34 |
2025 | 70 |
2026 | 65 |
Total future minimum lease payments, undiscounted | 169 |
Less: Imputed interest | (20) |
Present value of future minimum lease payments | $ 149 |
LEASES (Details Narrative)
LEASES (Details Narrative) - Almaden Expressway San Jose [Member] | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2024 USD ($) ft² | Apr. 30, 2023 USD ($) | Apr. 30, 2024 USD ($) ft² | Apr. 30, 2023 USD ($) | |
Area of land | ft² | 2,000 | 2,000 | ||
Lease expiration date | Sep. 30, 2024 | |||
Lease extension | an option to extend the lease an additional two years | |||
Base rent | $ 5,000 | |||
Rent percentage | 3% | |||
Right of use asset obtained in exchange for operating lease liability | $ 260,000 | |||
Operating lease weighted average discount rate percent | 10% | 10% | ||
Payments for rent | $ 17,000 | $ 17,000 | $ 33,000 | $ 33,000 |
Lessee operating lease term of contract | 29 months | 29 months |
COMMITMENTS AND CONTINGENCES (D
COMMITMENTS AND CONTINGENCES (Details Narrative) - Research And Development Agreements [Member] $ in Millions | 6 Months Ended |
Apr. 30, 2024 USD ($) | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Payments to acquire research and development | $ 3.7 |
Future payments over period | 5 years |
SCHEDULE OF SEGMENT INFORMATION
SCHEDULE OF SEGMENT INFORMATION (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2024 | Apr. 30, 2023 | Apr. 30, 2024 | Apr. 30, 2023 | Oct. 31, 2023 | |
Segment Reporting Information [Line Items] | |||||
Net loss | $ (3,180) | $ (2,307) | $ (6,470) | $ (4,661) | |
Total operating costs and expenses | 3,467 | 2,770 | 7,076 | 5,326 | |
Less non-cash stock-based compensation | (1,260) | (1,227) | (2,520) | (2,290) | |
Operating costs and expenses excluding non-cash share based compensation | 2,207 | 1,543 | 4,556 | 3,036 | |
Total assets | 24,355 | 24,355 | $ 25,522 | ||
CAR-T Therapeutics [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net loss | (1,444) | (997) | (2,970) | (1,908) | |
Operating costs and expenses excluding non-cash share based compensation | 1,026 | 620 | 2,154 | 1,218 | |
Total assets | 11,314 | 11,314 | 7,523 | ||
Cancer Vaccines [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net loss | (1,713) | (913) | (3,469) | (1,871) | |
Operating costs and expenses excluding non-cash share based compensation | 1,160 | 523 | 2,373 | 1,111 | |
Total assets | 12,778 | 12,778 | 17,215 | ||
Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net loss | (23) | (397) | (31) | (882) | |
Operating costs and expenses excluding non-cash share based compensation | 21 | $ 400 | 29 | $ 707 | |
Total assets | $ 263 | $ 263 | $ 784 |
SEGMENT INFORMATION (Details Na
SEGMENT INFORMATION (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2024 | Apr. 30, 2023 | |
Segment Reporting [Abstract] | |||
Revenues | $ 210,000 | ||
Royalties, legal fees, litigation and licensing expense | $ 161,000 | $ 161,000 |