Fri, Sep 6, 9:02 PM (105 days ago)
Anixa Biosciences, Inc. reported no revenue for Q3 2024, maintaining a trend from the same period in 2023. The company incurred a net loss of $3,315,000, up from $2,548,000 a year earlier, driven by increased research and development expenses, which rose to $1,925,000 from $1,088,000. General and administrative expenses slightly decreased to $1,667,000. Cash and cash equivalents totaled $1,225,000, with total assets at $22,908,000, down from $25,522,000 at the end of FY 2023. The company raised approximately $2,984,000 through an equity offering during the nine months, contributing to a cash decline of $3,099,000 during the period. Anixa’s focus remains on developing cancer vaccines and therapies, with no immediate revenue expected from these initiatives. The company believes existing resources will fund operations for at least the next twelve months. Future revenue generation is contingent upon successful clinical trials and potential licensing agreements.