Anixa Biosciences Narrows Q1 Loss to $2.6M as R&D Spending Drops 29%

Anixa Biosciences, Inc., a clinical-stage biotechnology company developing cancer therapies and vaccines, reported a net loss of $2.6 million for the three months ending January 31, 2026, compared to a loss of $3.2 million in the same quarter a year earlier. Read more earnings reports.

The Delaware-incorporated company (NASDAQ: ANIX) reduced its operating loss to $2.7 million from $3.4 million in the prior-year period. Research and development expenses dropped 29% to $1.1 million from $1.6 million, while the company reported no revenue for the quarter.

Operating cash outflow totaled $2.6 million for the three-month period, slightly improved from $2.9 million in the year-ago quarter. The company generated $1.2 million from investing activities and $1.7 million from financing activities during the quarter.

Balance Sheet and Liquidity

Total assets stood at $15.2 million as of January 31, 2026, down from $16.1 million three months earlier. Current assets declined to $15.1 million from $15.9 million, driven by a reduction in short-term investments to $12.7 million from $13.9 million. Cash and cash equivalents rose to $1.5 million from $1.2 million.

Total liabilities fell to $1.4 million from $2.1 million at the end of October 2025. Current liabilities dropped to $1.2 million from $2.0 million, while accounts payable decreased to $148,000 from $165,000.

Stockholders' equity edged down to $15.1 million from $15.2 million. The company's accumulated deficit widened to $254.2 million from $251.7 million. Common shares outstanding increased to 33.5 million from 33.0 million during the three-month period.

Per-Share Results

The company reported a loss of $0.08 per share for the quarter, compared to a loss of $0.10 per share in the same period last year. Both basic and diluted loss per share came in at $0.08, based on a weighted average of 33.2 million shares outstanding.

Financial Summary