Anixa Biosciences (NASDAQ: ANIX) is a clinical-stage biopharmaceutical company developing prophylactic cancer vaccines and cancer-focused therapeutics. The company generates no product revenue and funds operations through equity issuances, having raised approximately $2,378,000 net of expenses via an at-the-market common stock offering during the fiscal year ended October 31, 2025. As of October 31, 2025, Anixa had up to $100 million remaining capacity under its at-the-market equity program. The company's business model conserves capital by collaborating with third parties to develop its technologies rather than building internal manufacturing or commercial infrastructure. Target indications include ovarian cancer and lung cancer, two areas the company identifies as having significant unmet medical need. Anixa is led by Dr. Amit Kumar, Chairman and Chief Executive Officer, and Michael J. Catelani, President, Chief Operating Officer, and Chief Financial Officer. The fiscal year ends October 31.

Revenue model

No product revenue. Operations are funded through at-the-market equity offerings of common stock. The company raised approximately $2,378,000 net of expenses through 772,001 shares sold in the fiscal year ended October 31, 2025.

Products and services

Prophylactic cancer vaccines targeting ovarian cancer and lung cancer therapeutics. Clinical-stage pipeline with no approved or commercialized products as of the 10-K filed January 12, 2026.

Customers and end markets

No commercial customers. End markets are oncology and preventive medicine, specifically targeting women age 60 and over at elevated ovarian cancer risk and lung cancer patients. The company cites an estimated 21,000 new U.S. ovarian cancer diagnoses and approximately 42 million U.S. women age 60 and over as the addressable prevention population (per American Cancer Society statistics cited in the FY2025 10-K).

Value-chain role

Early-stage drug developer. Relies on third-party collaborators for clinical development and clinical materials manufacturing. Does not own manufacturing facilities. Seeks commercial partners including licensees and licensors of technology.

Geographic exposure

U.S.-focused based on filing and clinical activity disclosures. No international revenue or geographic segment data disclosed in the excerpts.

Source: SEC 10-K, filed 2026-01-12

Industry: Pharmaceutical Preparations Peers: Savara Inc Brainstorm Cell Therapeutics Inc Capricor Therapeutics Inc CEL-SCI Corp Clovis Oncology, Inc. Jounce Therapeutics, Inc. Larimar Therapeutics Inc Viracta Therapeutics, Inc. Vor Biopharma Inc