Anixa Biosciences Reports $2.8 Million Net Loss in Q2 Fiscal 2025

Anixa Biosciences, Inc. reported its financial results for the second quarter of fiscal 2025, revealing a net loss of $2.8 million for the three months ended April 30, 2025, compared to a loss of $3.2 million for the same period in the previous year. The company did not generate any revenue during this quarter, consistent with the prior year. For the six months ending April 30, 2025, the net loss totaled $6.0 million, a slight improvement from the $6.5 million loss reported for the same period in 2024. The basic and diluted net loss per share attributable to common shareholders was $(0.09) for the latest quarter, compared to $(0.10) in the prior year.

Total operating expenses for the second quarter decreased to $3.0 million from $3.5 million year-over-year, primarily due to reductions in research and development expenses, which fell to $1.3 million from $1.6 million. This decline was attributed to decreased outside research costs related to the company's ovarian cancer CAR-T therapeutic and lower employee stock-based compensation expenses. General and administrative expenses also decreased to $1.7 million from $1.8 million, driven by lower investor relations costs and director compensation.

As of April 30, 2025, Anixa reported total assets of $17.0 million, down from $21.6 million at the end of the previous fiscal year. The company’s cash and cash equivalents increased to $1.9 million from $1.3 million, while short-term investments decreased to $13.7 million from $18.7 million. Current liabilities also decreased to $1.9 million from $2.5 million, reflecting a reduction in accounts payable and accrued expenses. The company’s total shareholders’ equity was reported at $16.1 million, down from $20.0 million at the end of October 2024.

Anixa continues to focus on its oncology programs, including the development of CAR-T therapies and cancer vaccines. The company is engaged in clinical trials for its ovarian cancer CAR-T therapy and breast cancer vaccine, with ongoing collaborations with institutions such as the Cleveland Clinic and the H. Lee Moffitt Cancer Center. The company has not yet generated revenue from these programs but aims to license its technologies to larger pharmaceutical companies in the future. Management believes that existing cash and investments will be sufficient to fund operations for at least the next twelve months, and they have the potential to raise additional capital through their at-the-market equity program, which allows for the sale of approximately $97 million in common stock.