Anixa Biosciences Reports No Revenue, Decreases Net Loss to $2.585 Million

Anixa Biosciences, Inc. reported its financial results for the three months ended January 31, 2026, revealing no revenue generated during the period, consistent with the same period in the previous year. The company recorded a net loss of $2.585 million, a decrease from a net loss of $3.213 million in the prior year. This improvement in net loss is attributed to reduced operating costs, particularly in research and development and general administrative expenses, which totaled $2.716 million for the current quarter, down from $3.386 million a year earlier.

Research and development expenses decreased to approximately $1.102 million from $1.552 million, primarily due to fluctuations in the timing of clinical trial activities and a reduction in employee compensation costs. General and administrative expenses also saw a decline, falling to $1.614 million from $1.834 million, driven by lower stock-based compensation and other operational costs. Interest income for the quarter was reported at $131,000, down from $173,000, reflecting a decrease in short-term investments and interest rates.

In terms of operational developments, Anixa continues to advance its clinical programs, particularly in cancer therapeutics and vaccines. The company is focused on its CAR-T therapy for ovarian cancer and vaccines for breast and ovarian cancers, with ongoing clinical trials showing promising results. As of January 31, 2026, Anixa had approximately $14.202 million in cash, cash equivalents, and short-term investments, a decrease from $15.174 million at the end of the previous fiscal year. The company raised approximately $1.625 million through an at-the-market equity offering during the quarter, which is expected to support its ongoing research and development efforts.

Anixa's total assets as of January 31, 2026, were reported at $15.233 million, down from $16.080 million at the end of October 2025. The company’s liabilities also decreased significantly, from $2.130 million to $1.387 million, primarily due to a reduction in accrued expenses. The company continues to focus on strategic collaborations and partnerships to enhance its research capabilities and expedite the development of its therapeutic candidates.

Looking ahead, Anixa expects to maintain sufficient liquidity to fund its operations for at least the next twelve months, with plans to continue its focus on developing innovative cancer therapies and vaccines. The company does not anticipate generating revenue from its therapeutic or vaccine programs in the near term but aims to achieve profitability through potential licensing agreements with larger pharmaceutical companies in the future.