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Anixa Biosciences Inc. (ANIX-5.80%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing no revenue generated from its therapeutics or vaccine programs. The company continues to focus on developing therapies and vaccines targeting unmet needs in oncology.
Research and development expenses for the quarter were approximately $1,552,000, an increase from $1,349,000 in the same quarter the previous year. This increase is attributed to higher costs associated with the breast cancer vaccine program and license fees related to ovarian cancer CAR-T therapeutics.
General and administrative expenses decreased to $1,834,000 from $2,260,000 in the previous year. The decrease was primarily due to reduced investor and public relations expenses.
Interest income for the quarter was $173,000, down from $319,000 in the previous year, primarily due to a decrease in short-term investments and interest rates.
The company reported a net loss of $3,213,000 for the quarter, compared to $3,290,000 in the previous year. The net loss attributable to noncontrolling interest was $29,000.
Anixa Biosciences had total current assets of $18,686,000 as of January 31, 2025, down from $21,362,000 at the end of October 2024. The company believes it has sufficient resources to fund its activities for at least the next twelve months.
The company continues to focus on its cancer vaccine and CAR-T therapeutic programs, with ongoing clinical trials and collaborations with research institutions.
Anixa does not anticipate generating revenue from its current programs in the near term but aims to eventually license its technologies to large pharmaceutical companies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Anixa Biosciences Inc. quarterly 10-Q report dated March 11, 2025. To report an error, please email earnings@qz.com.