Anixa Biosciences(ANIX)

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Anixa Biosciences(ANIX) - 2021 Q2 - Quarterly Report
2021-06-09 16:00
[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements.) This section presents the unaudited condensed consolidated financial statements for the three and six months ended April 30, 2021, and 2020, detailing financial position, operational results, and cash flows [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of April 30, 2021, reflects a substantial strengthening of the company's financial position, driven by significant increases in cash, investments, and equity from recent capital raises | Financial Metric | April 30, 2021 (Unaudited) | October 31, 2020 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $27,703,435 | $6,417,061 | | **Total current assets** | $38,471,948 | $9,368,624 | | **Total assets** | $38,497,522 | $9,452,964 | | **Total current liabilities** | $1,442,871 | $1,188,591 | | **Total shareholders' equity** | $37,613,758 | $8,761,356 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported no revenue for the three months ended April 30, 2021, but recognized $512,500 in six-month revenue from a licensing agreement, with net loss and loss per share improving year-over-year | Metric | Three Months Ended April 30, 2021 | Three Months Ended April 30, 2020 | | :--- | :--- | :--- | | **Revenue** | $ - | $ - | | **Loss from operations** | $(2,437,282) | $(2,670,137) | | **Net loss attributable to common shareholders** | $(2,398,851) | $(2,640,093) | | **Net loss per share (Basic and diluted)** | $(0.08) | $(0.12) | | Metric | Six Months Ended April 30, 2021 | Six Months Ended April 30, 2020 | | :--- | :--- | :--- | | **Revenue** | $512,500 | $ - | | **Loss from operations** | $(4,670,413) | $(5,300,006) | | **Net loss attributable to common shareholders** | $(4,607,142) | $(5,232,636) | | **Net loss per share (Basic and diluted)** | $(0.17) | $(0.25) | [Condensed Consolidated Statements of Shareholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders'%20Equity) Shareholders' equity significantly increased to $37.1 million by April 30, 2021, primarily driven by approximately $31.1 million in net proceeds from public and at-the-market offerings - Completed a public offering in March 2021, selling **4,285,715 shares** and raising net proceeds of approximately **$20.3 million**[10](index=10&type=chunk)[13](index=13&type=chunk)[42](index=42&type=chunk) - Raised net proceeds of approximately **$10.8 million** from an at-the-market (ATM) offering during the six months ended April 30, 2021[14](index=14&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended April 30, 2021, cash used in operating and investing activities was significantly offset by $31.4 million provided by financing activities, resulting in a net increase of $21.3 million in cash and cash equivalents | Cash Flow Activity (Six Months Ended April 30) | 2021 | 2020 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(2,411,946) | $(3,470,654) | | **Net cash used in investing activities** | $(7,723,853) | $(285,791) | | **Net cash provided by financing activities** | $31,422,173 | $3,153,017 | | **Net increase (decrease) in cash** | $21,286,374 | $(603,428) | | **Cash and cash equivalents at end of period** | $27,703,435 | $2,888,197 | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's primary focus on developing oncology and infectious disease therapies and vaccines, outlining collaborations, clinical trial progress, financing activities, and segment-level financial data - The company's primary operations involve developing therapies and vaccines for oncology (CAR-T for ovarian cancer, vaccines for breast and ovarian cancer) and infectious diseases (COVID-19 therapeutics)[19](index=19&type=chunk) - An Investigational New Drug (IND) application for the CAR-T ovarian cancer therapy was submitted to the FDA in March 2021; the company is addressing an FDA information request and anticipates beginning clinical trials in **Q4 2021**[21](index=21&type=chunk) - Received FDA authorization in December 2020 to begin a Phase 1a clinical trial for a breast cancer vaccine, with the first patient expected to be treated in **July 2021**[26](index=26&type=chunk) - The company manages five reportable segments: CAR-T Therapeutics, Cancer Vaccines, Anti-Viral Therapeutics, Cancer Diagnostics, and Patent Licensing; for the six months ended April 30, 2021, CAR-T Therapeutics incurred the highest operating costs excluding non-cash compensation (**$1.49 million**)[94](index=94&type=chunk)[95](index=95&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses financial results, noting decreased R&D expenses due to program suspension, $513,000 in licensing revenue, and confirming sufficient liquidity for the next twelve months due to recent financing activities - For the six months ended April 30, 2021, the company recorded revenue of approximately **$513,000** from one license agreement[106](index=106&type=chunk) - Research and development expenses for the six months ended April 30, 2021 decreased by approximately **$869,000** compared to the prior year, primarily due to the suspension of the cancer diagnostics program[110](index=110&type=chunk) - The company believes its existing cash, cash equivalents, and short-term investments are sufficient to fund activities for at least the next twelve months, supported by approximately **$31.1 million** in net proceeds from a public offering and an at-the-market program in H1 2021[116](index=116&type=chunk) - Management identifies Revenue Recognition and Stock-Based Compensation as its most critical accounting policies, which require significant judgments and estimates[120](index=120&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company's market risk is limited to interest rate risk on its short-term, fixed-rate, and highly liquid investments, which could affect future returns upon reinvestment - The company's investments consist of short-term, fixed-rate, and highly liquid instruments, which are subject to interest rate risk that could affect returns upon reinvestment[128](index=128&type=chunk) [Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded that disclosure controls and procedures were effective as of April 30, 2021, with no material changes to internal control over financial reporting during the quarter - Management concluded that disclosure controls and procedures are effective as of the end of the reporting period[129](index=129&type=chunk) - No material changes were made to the company's internal control over financial reporting during the second quarter of fiscal year 2021[129](index=129&type=chunk) [PART II. OTHER INFORMATION](index=30&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings.) The company is not involved in any litigation or other legal proceedings that would have a material adverse effect on its financial condition or results of operations - The company is not involved in any material litigation or legal proceedings[131](index=131&type=chunk) [Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors.) There have been no material changes to the company's risk factors from those disclosed in its Annual Report on Form 10-K for the fiscal year ended October 31, 2020 - No material changes in risk factors have occurred since the fiscal year 2020 Form 10-K filing[132](index=132&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=30&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) The company reported no unregistered sales of equity securities during the period - None[132](index=132&type=chunk) [Exhibits](index=30&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the Form 10-Q, including an assignment agreement, an amendment to a collaboration agreement, and CEO/CFO certifications - Filed exhibits include an Assignment Agreement with OntoChem GmbH and MolGenie GmbH, and CEO/CFO certifications pursuant to the Sarbanes-Oxley Act[133](index=133&type=chunk) [Signatures](index=31&type=section&id=SIGNATURES) - The report was signed on **June 10, 2021**, by **Dr. Amit Kumar**, Chairman, President and CEO, and **Michael J. Catelani**, COO and CFO[135](index=135&type=chunk)
Anixa Biosciences(ANIX) - 2020 Q3 - Quarterly Report
2020-09-08 20:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2020 Commission file number 001-37492 ANIXA BIOSCIENCES, INC. | --- | --- | |----------------------------------------------------------------------------|----------------------------------------------| | (Exact name of registrant as \nDelaware | specified in its charter) \n11-2622630 | | (State or oth ...
Anixa Biosciences(ANIX) - 2020 Q2 - Quarterly Report
2020-06-09 21:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2020 Commission file number 0-11254 | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------|-----------------------------------------------------| | Delaware ...
Anixa Biosciences(ANIX) - 2020 Q1 - Quarterly Report
2020-03-09 21:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2020 Commission file number 0-11254 ANIXA BIOSCIENCES, INC. | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------|--------------------------- ...
Anixa Biosciences(ANIX) - 2019 Q4 - Annual Report
2020-01-09 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K | --- | --- | |-----------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...
Anixa Biosciences(ANIX) - 2019 Q3 - Quarterly Report
2019-09-06 21:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2019 Commission file number 0-11254 ANIXA BIOSCIENCES, INC. | --- | --- | --- | |-------------------------------------------------|--------------------------------------------------------|-----------------------------| | | (Exact name of registrant as specified in its charter) | | | Delaware (State or ...