Anixa Biosciences Reports No Revenue, Decreases Net Loss in Third Quarter 2025

Anixa Biosciences, Inc. reported its financial results for the third quarter and nine months ended July 31, 2025, revealing no revenue generated during these periods, consistent with the previous year. The company continues to focus on developing cancer therapies and vaccines, including a chimeric endocrine receptor-T cell therapy and various cancer vaccines. For the three months ended July 31, 2025, Anixa recorded a net loss of $2.3 million, a decrease from the $3.3 million loss reported in the same period in 2024. For the nine-month period, the net loss was $8.3 million, down from $9.8 million in the prior year.

Operating expenses for the third quarter totaled $2.4 million, a reduction from $3.6 million in the same quarter of 2024. This decline was primarily attributed to decreased research and development expenses, which fell to $1.1 million from $1.9 million year-over-year. The decrease in R&D spending was driven by lower costs associated with the breast cancer vaccine and CAR-T therapeutic programs. General and administrative expenses also decreased to $1.4 million from $1.7 million, reflecting reduced stock-based compensation and other operational costs.

Anixa's cash, cash equivalents, and short-term investments totaled approximately $16.0 million as of July 31, 2025, down from $19.9 million at the end of the previous fiscal year. The company raised approximately $1.9 million through an at-the-market equity offering during the nine months ended July 31, 2025. The firm believes its current financial resources will be sufficient to fund operations for at least the next twelve months.

In terms of operational developments, Anixa's subsidiary, Certainty Therapeutics, is advancing its CAR-T therapy for ovarian cancer, with ongoing clinical trials showing promising results. The company has also expanded its vaccine programs, including a breast cancer vaccine that has completed initial patient vaccinations. Anixa is collaborating with the Cleveland Clinic to develop additional cancer vaccines, leveraging its existing technology and research capabilities.

Looking ahead, Anixa does not anticipate generating revenue from its therapeutic or vaccine programs in the near term but aims to license its technologies to larger pharmaceutical companies. The company is focused on completing clinical trials and achieving positive results, which are critical for future licensing opportunities.