Anixa Biosciences Reports No Revenue in Q2 Fiscal 2026, Operating Expenses Decrease

Anixa Biosciences, Inc. reported its financial results for the second quarter of fiscal 2026, ending April 30, 2026, revealing no revenue generated during the period, consistent with the same quarter in the previous year. The company continues to focus on developing therapies and vaccines for oncology, particularly through its subsidiary, Certainty Therapeutics, which is advancing its CAR-T therapy for ovarian cancer. The total operating expenses for the quarter were approximately $2.65 million, a decrease from $3.00 million in the same period last year, primarily due to reduced research and development costs and lower general and administrative expenses.

For the six months ended April 30, 2026, Anixa's total operating expenses were approximately $5.36 million, down from $6.39 million in the prior year. The decrease in expenses was attributed to lower employee compensation and stock-based compensation costs. The net loss for the second quarter was approximately $2.54 million, compared to a net loss of $2.81 million in the same quarter of the previous year. The net loss attributable to common shareholders for the six months was approximately $5.08 million, a reduction from $5.97 million in the same period last year.

Anixa's cash and cash equivalents increased to $1.48 million as of April 30, 2026, up from $1.24 million at the end of the previous fiscal year. The company raised approximately $2.87 million through an at-the-market equity offering during the six months, which contributed to its liquidity position. As of the end of the reporting period, Anixa had approximately $13.69 million in cash, cash equivalents, and short-term investments, down from $15.17 million at the end of October 2025. The company believes this amount will be sufficient to fund its operations for at least the next twelve months.

Operationally, Anixa continues to advance its clinical programs, including the ongoing Phase 1 clinical trial for its CAR-T therapy, which has treated multiple patients with encouraging safety and efficacy signals. The company is also progressing with its breast cancer vaccine program, which has completed initial dosing in a Phase 1 trial. Anixa's strategic focus remains on developing its therapeutic and vaccine programs, with plans to potentially license these technologies to larger pharmaceutical companies in the future.

Looking ahead, Anixa expects to continue its current trajectory in research and development while managing costs effectively. The company is also exploring additional collaborations to enhance its technology development efforts. However, it does not anticipate generating revenue from its therapeutic or vaccine programs in the near term, as these initiatives are still in the clinical trial phase.