Anixa Biosciences Reports No Revenue and $2.6 Million Net Loss for Third Quarter 2026

Anixa Biosciences, Inc. reported its financial results for the third quarter and nine months ended July 31, 2026, revealing no revenue generated during these periods, consistent with the previous year. The company continues to focus on developing cancer therapies and vaccines, including its CAR-T technology for ovarian cancer and vaccines for breast and ovarian cancers. For the three months ended July 31, 2026, Anixa incurred a net loss of $2.6 million, compared to a net loss of $2.3 million for the same period in 2025. For the nine-month period, the net loss was $7.7 million, a slight improvement from the $8.3 million loss reported in the prior year.

Operating expenses for the third quarter increased to $2.7 million from $2.4 million year-over-year, driven primarily by higher research and development costs associated with the breast cancer vaccine program. Research and development expenses rose to $1.3 million in the latest quarter, up from $1.1 million in the prior year, while general and administrative expenses saw a modest increase to $1.4 million from $1.4 million. The company attributed the rise in operating expenses to fluctuations in the timing of materials manufacturing activities and increased investor relations costs.

Anixa's total assets decreased to $15.1 million as of July 31, 2026, down from $16.1 million at the end of October 2025. The decline in assets was primarily due to a reduction in cash and short-term investments, which totaled approximately $13.9 million at the end of the reporting period, compared to $15.2 million at the end of the previous fiscal year. The company raised approximately $4.8 million through an at-the-market equity offering during the nine months ended July 31, 2026, which contributed to its liquidity position.

The company continues to advance its clinical programs, with ongoing trials for its CAR-T therapy and breast cancer vaccine. Anixa has treated multiple patients in its clinical trials, with preliminary results indicating potential efficacy. The company remains focused on its strategic goal of licensing its technologies to larger pharmaceutical firms, although it does not expect to generate revenue from its therapeutic or vaccine programs in the near term. Management believes that its current cash and investments will be sufficient to fund operations for at least the next twelve months, allowing it to continue its development efforts without immediate financial pressure.