v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Apr. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

11. SEGMENT INFORMATION

 

We manage our operations in three reportable segments: (i) Cancer Vaccines, (ii) CAR-T Therapies, and (iii) Other. The Cancer Vaccines segment consists of the development of vaccines to treat and prevent breast cancer and ovarian cancer, as well as additional cancer vaccines to address many intractable cancers, including high-incidence malignancies in lung, colon, and prostate. The CAR-T Therapies segment consists of the development of an ovarian cancer immunotherapy using a novel type of CAR-T, known as chimeric endocrine receptor-T cell technology. The Other segment consists of our legacy operations, including limited patent licensing activities of our various patent portfolios.

 

The Company’s chief operating decision-maker (“CODM”) is our Chief Executive Officer. The CODM reviews our operating results and operating plans and makes resource allocation decisions on a Company-wide, as well as reportable segment, basis. The CODM uses segment information to evaluate cash flow, identify risks and opportunities, allocate resources, and set strategic priorities. As stock-based compensation expense does not impact cash, segment operating expenses excluding non-cash stock-based compensation is the measurement the CODM uses in managing the enterprise. Segment operating expenses excluding non-cash stock-based compensation is a non-GAAP measure.

 

The following represents selected financial information for our segments for the three and six months ended April 30, 2026 and 2025, and as of April 30, 2026 and October 31, 2025 (in thousands):

 

   Cancer Vaccines   CAR-T Therapies   Other   Total   Cancer Vaccines   CAR-T Therapies   Other   Total 
   For the three months ended April 30, 
   2026   2025 
   Cancer Vaccines   CAR-T Therapies   Other   Total   Cancer Vaccines   CAR-T Therapies   Other   Total 
                                 
Revenues  $-   $-   $-   $-   $-   $-   $-   $- 
                                         
Research and development expenses   812    446    -    1,258    898    424    -    1,322 
General and administrative expenses   898    480    11    1,389    1,109    562    10    1,681 
Total operating expenses   1,710    926    11    2,647    2,007    986    10    3,003 
                                         
Loss from operations   (1,710)   (926)   (11)   (2,647)   (2,007)   (986)   (10)   (3,003)
                                         
Interest income   72    38    1    111    128    61    1    190 
                                         
Net loss  $(1,638)  $(888)  $(10)  $(2,536)  $(1,879)  $(925)  $(9)  $(2,813)
                                         
Total operating expenses  $1,710   $926   $11   $2,647   $2,007   $986   $10   $3,003 
Less non-cash stock-based compensation   (421)   (243)   (1)   (665)   (643)   (343)   (2)   (988)
Operating expenses excluding non-cash stock-based compensation (a non-GAAP measure)  $1,289   $683   $10   $1,982   $1,364   $643   $8   $2,015 

 

 

 

   Cancer Vaccines   CAR-T Therapies   Other   Total   Cancer Vaccines   CAR-T Therapies   Other   Total 
   For the six months ended April 30, 
   2026   2025 
   Cancer Vaccines   CAR-T Therapies   Other   Total   Cancer Vaccines   CAR-T Therapies   Other   Total 
                                 
Revenues  $-   $-   $-   $-   $-   $-   $-   $- 
                                         
Research and development expenses   1,485    875    -    2,360    1,873    1,001    -    2,874 
General and administrative expenses   1,888    1,101    14    3,003    2,262    1,224    29    3,515 
Total operating expenses   3,373    1,976    14    5,363    4,135    2,225    29    6,389 
                                         
Loss from operations   (3,373)   (1,976)   (14)   (5,363)   (4,135)   (2,225)   (29)   (6,389)
                                         
Interest income   152    89    1    242    237    124    2    363 
                                         
Net loss  $(3,221)  $(1,887)  $(13)  $(5,121)  $(3,898)  $(2,101)  $(27)  $(6,026)
                                         
Total operating expenses  $3,373   $1,976   $14   $5,363   $4,135   $2,225   $29   $6,389 
Less non-cash stock-based compensation   (908)   (551)   (2)   (1,461)   (1,304)   (734)   (5)   (2,043)
Operating expenses excluding non-cash stock-based compensation (a non-GAAP measure)  $2,465   $1,425   $12   $3,902   $2,831   $1,491   $24   $4,346 

 

   April 30,
2026		   October 31,
2025		 
Total assets:          
Cancer Vaccines  $9,626   $9,604 
CAR-T Therapeutics   5,139    6,347 
Other   100    129 
Total  $14,865   $16,080 

 

Operating costs and expenses excluding non-cash stock-based compensation is the measurement the chief operating decision-maker uses in managing the enterprise.